Free Proprietary Trading Training
The information on these pages is based around the typical training format of many London based proprietary trading desk training programmes, some of which charge £3,000-£5,000 or more for three or four months worth of participation.
Assuming you were going to spend this much on training, this page will give you the same (or better) standard of training information for FREE, and instead you will use the £5,000 budget for books, equipment, software and to fund your own trading account.
The structure and programme we introduce on this page will enable you to give yourself the same standard of education, but teaching yourself to trade the financial markets from home. The cost will be about the same amount as you would have paid to a training firm, but at the end you will take more away from it – you’ll have a trading setup for life, a good library of relevant books and have a greater chance of being profitable in the markets. Additionally, YOU will be in control of when you go live and start trading with real money rather than someone else making that decision (a decision which may be based on business factors rather than your best interests as a trader).
The cost of running this free site is covered by the adverts you can see in the margins, so please dont ignore them if you find the content here helpful.
How to use this page:
The programme detailed below describes a three month ‘do-it-yourself’ trader training process.
Each section heading in the training menu below connects to a page covering the section subject in detail.
You will see that parts of the training on key subjects are “outsourced” to reference books for students to purchase that give a much broader and deeper education on the target subject such as economics and psychology than any chapter in a course guide or “mentor” in a prop firm could cover for you. Once these books are in your library, you can (and will!) refer to them many times.
The first five steps explain in detail how you should prepare yourself for your three months of trader training, the final four steps contain the actual training itself and what you should do next when you complete your training successfully.
This is not meant to be a quick read. Bookmark this page using the link above and study through it methodically, starting at section 1 reading all sections carefully in sequence.
Plan your training programme
Investigate possible markets & trading hours to trade
2. Before you start: Preparatory Reading
Understand how Futures contracts, exchanges and markets work
Understand who participates in trading these markets & why.
3. PREPARATION: COMPUTER EQUIPMENT & WORK AREA
Multi-monitor setups.
Trading Workstation PC:
Windows Operating System & Speed Optimization:
Keyboard & Mouse:
Power Failure Protection:
PC System Security:
Direct Market Access – what is it?
Spreadbetting vs DMA
Broker options
5. Start your Trading Business Plan
Treat your trading as a business
Create your first trading business plan template
6. FIRST MONTH TRAINING: FOUNDATION LEARNING
Creating a Structure for your Learning & Trading
Importance of Keeping a Trading Journal
Learn key financial and economic concepts
Introduction to inter-market analysis
Learning how to successfully interpret charts and news
7. SECOND MONTH TRAINING: PSYCHOLOGY, ORDER FLOW & SIM TRADING
The Tool of the Trader; Order entry systems, charting software and familiarization
Understanding the principles behind order flow and market psychology.
Creating the correct mindset and behavioral patterns.
Apply skills learned so far and practice under different market conditions.
Intensive price ladder & simulated order execution practice.
Daily trading exercises.
Daily Performance Review.
Interact with other Traders
By the end of your second month, you will will have practiced trading under a variety of market conditions.
You should be getting an idea of what you’re comfortable with and what works (and doesnt work).
Final stages of your education.
Trading real money in your live account.
ANALYSE EVERYTHING.
Daily Performance Review.
Trade small. Don’t get greedy.
Impose a daily and maximum loss-limits.
9. IN CONLUSION (AND CONTINUATION)
Recap of your learning curve
Continuing your career as you began it
Trading means Continuous learning
Further research: Market Profile, Calendar Spreads
What next?
