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How to Leverage My Knowledge As A Professional Trader?

by tomhgriff1
14 replies
Hi all,

The first step, it seems, on embarking on a business is "what are you good at" "what do you know". Well i have only a couple of things i think. But the one that seems to attract most attention is I am a professional trader. A prop trader to be specific. Which basically means I am backed by a company to trade the international futures market. This is a huge market online, in terms of selling knowledge, links to brokerage account leads etc etc.

I get random people emailing me all the time through LinkedIn and trading forums asking questions, i probably am helping one or two people at anyone time through email chats, and thats just through strangers approaching me, so know there is demand.

I seem to be a bit paralyzed by choice in terms of which way to turn to get involved in online business. I love trading, but its not something i want to do all my life.. im 30 now and the long hours, constant stress and intense focus are not something i see myself doing for years to come.

So i feel i have some pretty unique skills, crazy stories to tell and life experiences in an industry people are very keen to know about. Ive seen it all, people making and losing houses in a day, ive had 100k swings. Not to mention all the skills i have built up.

Im not really keen to sell instructional "how to trade" course. Because the industry is full of charlatans, there is no magic system to follow. I can teach the basics mixed with my experiences, but would feel a bit of a fraud charging big money ripping off people looking for the "holy grail system"... it doesnt exist. And thats what the trader education industry is mostly made up of.

So was thinking along the lines of an ebook/kindle book in a question and answer format..
I would even be interesting in partnering up with some of you savvy online experts. I provide knowledge etc if you think you can market it.

Or i just am in need of some general advice.... Maybe its not a niche youd even consider? Any advice much appreciated guys!!
#knowledge #leverage #professional #trader
  • Profile picture of the author The Copy Warriors
    It seems like you're a real professional who has a lot to offer, so I would recommend the following.

    1. Don't become an affiliate or try to sell other peoples' products. This is how most people on the forum try to make money, but truth be told making a full time income at this is a bit of a pipe dream. You should really try to become some kind of consultant/coach, or create your own products.

    2. The easiest business model for you would likely be consulting or coaching. You mention that you would like to sell Kindle ebooks, which is totally realistic and something you COULD do, but for a variety of reasons I would suggest that that's not the best place to START your business. People usually start selling ebooks after building up a consulting business or at least a blog with a huge readership, and then sell the book to their existing audience of clients. You build a mailing list by offering a free report or something like that, then you sell the book to your mailing list.

    3. Market Your Business With A Blog Plus Guest Posts.

    You probably know about that basically every business needs a blog nowadays, but you most likely don't know that much about how to get traffic. What you should focus on is guest posting on other high traffic blogs. The best sites to get featured on in the trading niche are:

    - Motley Fool.
    - Seeking Alpha.
    - Zero Hedge.

    But I'm sure there are others.

    Send me a PM if you want to know anything else.
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    • Profile picture of the author tomhgriff1
      The Copy Warriors, Many thanks for the feedback, sounds like good advice, im open to hearing lots of opinions on where to turn. The goal is definitely to move away from trading where its a bit of a hamster-in-a-wheel type feeling and get to the stage i can build something that hopefully starts to grow organically eventually
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      • Profile picture of the author AeroBuilders
        As a prop trader your target audience is pretty small and that is a structural problem when it comes to sales (of any product you create). About the best option at that point is higher priced training or coaching packages with maybe two to three traders a month (through one-on-one with GoToMeeting, or small group multi-day training events, etc). There has been a dramatic drop off in retail futures and stock trading in the US since the MF Global & PFG "allowed" THEFT of traders accts. As a result, there has been a big drop off in info product sales to traders (stock, futures, options). Forex has stayed strong as has ETF info product sales so just wanted to make you aware of what is taking place in the trading world.

        BTW, I have been in the Bright Trading office in Vegas a few times (back in the day when stock trading was more fun).
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        Seeking JV partners for Forex Trading products

        Forex Trader & Trade System Builder / Health & Wellness Expert / Sport Aircraft Builder

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        • Profile picture of the author tomhgriff1
          Cheers Aero, sounds like you know a bit about the industry for sure. Im based in Europe but am aware of Bright.

          You are right, the retail market (as with the pro market) has taken a nose dive in recent years. But i feel there is still a bit of a fascination with the industry, as with anything with low barriers to entry, poker, internet business etc. So thats why im thinking a Q and A format book (similar to market wizards if you have read it) that has a mixture of crazy stories, trading advice and tips about getting in to the industry (which i have a lot of people asking me). Our recent trainee class had 500 applicants in a week and that was just targeting a couple of Uni's
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        • Profile picture of the author AeroBuilders
          One idea just came to mind that would be a good info product - build up a simple and clear info product that shows traders how they can get prepared to trade at a prop shop or how to set up for and trade at a TopStepTrader combine. You could get a blog going on this to attract possible customers for your low cost info product and then have your coaching program as your high-line product....just some initial ideas.
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          Seeking JV partners for Forex Trading products

          Forex Trader & Trade System Builder / Health & Wellness Expert / Sport Aircraft Builder

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  • Profile picture of the author Devin X
    Banned
    Originally Posted by tomhgriff1 View Post

    I seem to be a bit paralyzed by choice in terms of which way to turn to get involved in online business. I love trading, but its not something i want to do all my life.. im 30 now and the long hours, constant stress and intense focus are not something i see myself doing for years to come.
    An iBanker, or proprietary trader? Nice dude! Must have had some sweet bonuses huh? Are you sure you wanna do IM? I mean big iBankers rake in a hell of a lot more dough than most internet marketers do. Regardless, be careful of who you listen to around here. In my experience, and opinion, iMarketing is similar to iBanking in that long hours, stress, and intense focus are required of any successful marketer...so again, are you sure you want to move from iBanking to iMarketing? (iMarketing=internet marketing)
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  • Profile picture of the author NewParadigm
    Broadcast your trading day on a live stream. Need to establish credibility and trust in the world of trading scams. Have an audited trading track record.
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    In a moment of decision the best thing you can do is the right thing. The worst thing you can do is nothing. ~ Theodore Roosevelt

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  • Profile picture of the author tomhgriff1
    Cheers Aero, worth thinking about.

    TheRealDude, thanks for your concern but I'm not going to put all my eggs in the IM basket. I just need to diversify. Prop Trading isn't all it's cracked up to be. Yes there is great money to be made. But there is nothing passive about it. Whether you are a trainee or a veteran you need to work 12 hours a day. Know every little thing going on in the world that can effect your markets. Your weekends you just need to catch up on sleep. Your girlfriend thinks you're mad. My overheads for my desk are about 4000 euros a month and what I make on top of that I split with my backers. There's a lot people don't know about the industry. I think there's demand to learn about it
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    • Profile picture of the author AeroBuilders
      OMG ----> $4000 Euro's for a desk???

      Why not come to US and trade prop for 0 to 500 a month desk fees? If you have an edge right now there is all kinds of US based prop trading gigs (with good buying power).

      Vegas is a cheap place to live and AWESOME hours for trading prop - you are done by 1:30 to 2:00 pm everyday.

      Originally Posted by tomhgriff1 View Post

      Cheers Aero, worth thinking about.

      TheRealDude, thanks for your concern but I'm not going to put all my eggs in the IM basket. I just need to diversify. Prop Trading isn't all it's cracked up to be. Yes there is great money to be made. But there is nothing passive about it. Whether you are a trainee or a veteran you need to work 12 hours a day. Know every little thing going on in the world that can effect your markets. Your weekends you just need to catch up on sleep. Your girlfriend thinks you're mad. My overheads for my desk are about 4000 euros a month and what I make on top of that I split with my backers. There's a lot people don't know about the industry. I think there's demand to learn about it
      Signature

      Seeking JV partners for Forex Trading products

      Forex Trader & Trade System Builder / Health & Wellness Expert / Sport Aircraft Builder

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  • Profile picture of the author tomhgriff1
    NewParadigm, yeah I hear your point. But that's not going to happen. For two reasons. It wouldn't be allowed by my company. And secondly I am prepared to teach broad theories and advice on how to find a market edge. But the last thing I want is other traders getting in and out the market where I do. Which is why I don't really want to do the 'I'm a market guru give me your money' thing. Anyone that claims to give that knowledge away doesn't have much to give. I'm thinking more about teaching people about the industry. How to get started. What you need to learn to stand a chance etc
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  • Profile picture of the author tomhgriff1
    Aero, yeah desk is astronomical I know. I trade futures not stocks. TT or Stellar (which are the go to software you need) are about £1200 a month. Then high speed Internet lines. IT support, charting etc. it adds up. Plus I trade European bonds and equity indexes so don't fancy working through the night.
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    • Profile picture of the author AeroBuilders
      OK....futs. yes that makes a big difference. How about the Dubai Trading Group? (lower fees, MUCH LESS TAXES, and a change of pace for a year or so)


      Originally Posted by tomhgriff1 View Post

      Aero, yeah desk is astronomical I know. I trade futures not stocks. TT or Stellar (which are the go to software you need) are about £1200 a month. Then high speed Internet lines. IT support, charting etc. it adds up. Plus I trade European bonds and equity indexes so don't fancy working through the night.
      Signature

      Seeking JV partners for Forex Trading products

      Forex Trader & Trade System Builder / Health & Wellness Expert / Sport Aircraft Builder

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      • Profile picture of the author dotdash
        Sent you a PM
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  • Profile picture of the author travlinguy
    You certainly aren't limited because you were a prop trader. If you've been successful it's because you understand market psychology and the emotion that drives both successful and unsuccessful traders. That's what you bring to the table, in any securities market because regardless of what you're trading market environments and psychology is virtually the same across the board.

    You also mention you have stories. If I were in your shoes I'd create an outline focusing on market psychology and controlling emotions while trading. Step by step, what's important to the successful trader. Then I'd illustrate what works and what doesn't based on my experience dealing with both the winners and losers and the habits that make them what they are. That's where stories bring stuffy technical stuff to life and make it interesting, a page turner if done properly. You could have a very successful book on your hands if you do it right.
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