aggresive openings?

Discussion in 'Prop Firms' started by mbs, Apr 10, 2002.

  1. mbs


    world co offering NON-PAYING positions to open offices and bring in traders...offering 10% of of trader profits, after brokerage...

    i heard this from someone who was made the offer...anyone else heard this?
  2. Who signs the lease and has the risk of the overhead of the office? If no overhead risk and you can trade your own account at same time, then sounds reasonable.
  3. mbs



    i have no idea...i assume the firm must pay for something if they don't pay their employees...i just found this a little strange...i mean, opening a trading facility and recruiting traders seems like it would be a more than full-time job with a great deal of responsibility and very little time, initially at least, to do any trading.....

  4. Hey, I'm in on this,,,,, gotta be kidding!! LOL.....:) I don't think you're going to attract anyone of value with something silly like, I can't speak for them, but I seriously doubt that this is a real "offer"....but, if there are any "takers" call me.......

    For a real offer, try being paid a % of the office volume to trading managers (yes, we only want traders, not spokesmodels). Trader profits = trader retention=trader volume=manager profit....pretty easy formula...

    Oh yeah,, and we pay for everything!!
  5. stevet


    this is not my world - but 10% of profits - as opposed to a wage -sounds like the sort of deal someone might want when the business is making $10M and you had not had to put up any start up cash

    i am not suggesting this story is valid, or that these businesses can make $10M, but the theory would sure work - all u have to do is just work out what it could make and then figure is your time worth it

    BUT i would want to know the definition of PROFITS!
  6. Since we all know that most traders don't make money for a long time, and that the office as a whole will not be profitable for a long time (it even takes Bright Trading offices a while to get profitable)...this is just silly.

    I am not at all "slamming" worldco, I am just betting that they did not make such a silly offer to someone...and, like I said..."I'm in"...if there is someone willing to donate to Bright Trading their time, expertise, recruiting skills, etc. for a 10% share of the traders profits.

    Now, don't you think worldco knows the same thing that I do...and that their offer (if there was one) is meaningless??

    That's all, no big deal..just not real.
  7. stevet


    Don Bright

    so you will put up the start up capitol to establsh and cash flow the office, and the capitol to back the traders - and i get the traders in and run the office for 10% of profits - lets go!
  8. To add to what Steve posted: you sign the lease, take all the capital risk let me trade and I manage the office for an additional 10%? Not a terrible deal. What do your office trading managers get? More than that? Your risk reward sounds off. 100% of the risk for 90% of profits sounds reasonable. Why am I so off?
  9. mbs


    my only question was, is this at all realistic?....i guess not...i counseled my friend to ask for 10% of the bro, not profits...
    that deal is apparently not even on the table as a reasonable counter offer......i told him to walk away from any "investment" in a firm that is unwilling to pay its employees...

    i have no reason to doubt my friend's word...he's been at daytrading for a couple of years at two firms...finally realized that between bro and the market, there's no room for trader profit..

    the notion that one might "open an office" as long as one could also trade is many hours are in a day anyway?
  10. Keep on dreaming, guys....I read the above as the "recruiter" opening offices, not worldco.....

    We open offices, and basically give the Manager a "free" franchise where we pay a lot for local and nationwide exposure to bring in successful traders (and new traders as well). All we ask is that you first be a successful trader (to manage, of course), and then you can augment your trading profits with a very high additional potential. Many of our managers take it a step further, and back the traders themselves, mentor them, keep a share of the profits, and get compensated by Bright Trading as well...a real way to run a successful (trader, manager, firm)....and we are always looking for good traders who want to manage.

    Our business model is the "gold collared" kind, paying for success, and we am very comfortable with it (as so many other firms, it seems :) ).
    #10     Apr 11, 2002