Best prop firms in NYC for traders with quality track records?

Discussion in 'Prop Firms' started by birdstone, Aug 26, 2009.

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  1. Hi. I was wondering if there are Prop firms that are more interested in finding established traders with good track records of profits.

    Does anyone have an idea what a quality trader with an established track record would be offered at a prop firm?

  2. bump
  3. There is no one on this site who can identify good NYC prop firms looking for quality track records??
  4. Fractal


    No one keeps track of that thing of course; the best you can do is go on reputation of the principles and judge for yourself.

    I heard about SMB Trading years ago, and just recently started looking at their blog on occasion. What they're doing isn't rocket science, but it's very clear they're straight up, honest, successful guys with integrity. That's the best you could hope for in the prop biz.

    Otherwise, you could always open a direct account with Echotrade or Assent (try to avoid sub-LLCs).
  5. Thank you for the info.

    Opening a direct account with a retail broker is not the question I was asking. I wanted to know if there are prop firms that are mostly interested in partnering with traders with quality, winning track records. I'm sure there are a few. Hopefully, there will be more replies to my question.
  6. What do you mean by "partnering"? You looking to split profits with a firm?

    What's your endgame?

  7. Fractal


    You think Echo, Assent, and SMB are retail?

    I assume you mean provide high intraday leverage based on the firm's portfolio margin. These are prop firms.

    What you do is contact one of these firms. Show them your brokerage track record (your TS backtest results aren't going to cut it). Negotiate tiered rates based on your monthly shares (500k?, 1 mil +?). They will start you with lower leverage at first then work up if you prove yourself consistently able to manage risk.

    I assumed this was common sense, but it seems you need a bit of hand holding.
  8. I do need hand holding--i'm new to prop firms. And I thank you for your response.

    I don't know what "TS" is, but my results are real. I've had 10 really good years. I have a strong aversion for losses, so i'm consistent as well. Managing risk is my strongest suit--I haven't had a losing year in the last 10, and I rarely have losing quarters. I don't trade alot of shares--actually I only trade a few thousand a day. But in the end it adds up to quality profits and consistency.

    Now keep holding my hand and tell me which prop firm wants a quality trader with a real and consistently profitable track record for over 10 years.
  9. You don't need a prop firm, you only trade a few thousand shares a day. Are you saying that you want to size up now?

    Just doesn't make any sense given your current situation. Why would a successful retail trader of 10 yrs, who trades small shares, want to go to a prop firm?

  10. It's not really as simple as "small size". Sure, if I trader a few thousand shares of C, then I see your point. But if I trade a few thousand shares of AZO a day, the money adds up. I'm not a small fry, i just am an extremely efficient trader--hence I don't over-trade and hence the moderate volume.

    I want a prop firm because I have an exceptional track record, and want a large firm to help me "size up" as you say, while also taking the risk. Any prop firm would see there's little risk based on my record.

    I'm sure there are prop firms that want this type of quality record, that's why i'm asking.
    #10     Aug 28, 2009
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