I'm in Dallas, have my series 7 & 55 and $1,000 and would like to trade at a prop firm within the next 6 months. Would any firm that you know of give me a shot with only $1,000? Possibly with less leverage initially or some other stipulation? I'd be interested in working in an office in Dallas/Fort Worth or via remote. Please PM me if you like with any conditions involved in taking someone on under these circumstances. I realize most prop firms require at least $5k, so am curious if there are any prop firms that anyone here knows of that would possibly make an exception.
With $1000, you have no chance of making it as a successful trader. Go out and get a job, or a second job, something that will pay you enough so that you can save some money. Get together 20k and a years worth of expenses and then get into trading then you have a decent shot at making it. In the mean time, start to study the markets and search for an edge, a strategy you can consistenly apply and make money.
with 1K you can rent Ninja and subscribe to live data feed and if you can be profitable in sim trade then you might have a decent chance to go live (print out your records, show them the money)
He didnt say he was a newb, not from what I could tell. I'm sure it would be possible to experience success with a small amount of money if you know what you are doing. Livermore started small. My account is sub 1k atm.
If you trade Fx you will get free charts and you can start with $300 - $500. They will guarantee your stop so you can only lose what you invest, and that will be the end result. Probably every successful trader has blown their account a few times learning so get ready to pay your dues. At least your growing pain won't be too sharp. You can make it if you persist, study hard and don't expect to read a book and make a fortune. It takes time, application, resiliance, deternination, nerves of steel and a dash of creativity to win. First you gotta join the lemmings and leap off the cliff!
There are prop firms that dont require you to even put money up but your payout will be around 50/50. You may also get paid some draws against future earnings if your profitable (or becoming profitable). There are also a bunch of firms that trade on the floor (CBOT, CME, CBOE, NYMEX) that will hire you as a clerk for the first few month, pay you like 30k + bonues, until you learn to trade for them in the pits. Also, search craigs list (New York or Chicago) and you'll find some prop firms looking for traders, i've found a few that dont require a minimum contribution on there.
http://www.globalfutures.com/ why not trade the e-minis at global, you can trade 2 contracts with 1000.00 and open an account with 300.00 trade 1 contract in and out until you figure out trading, use the free software and watch the charts all day
Going to a prop firm with 1k at 10 to 1 leverage, maybe 20 to 1, and trading in 100 shares.... could be a good learning experience, if you stick to trading only 100 shares. Should last you at least a month depending on how much your willing to risk per day and have a cut-off point for the day. It's possible. The previous firm I was at, I put up 1k, and the firm I'm currently at, is 1k. I certainly must tell you, it would be a whole lot wiser to trade 100 shares of a stock instead of ANY e-mini. Especially if you want to learn anything with your money. 1k, new to trading, e-mini's..... I'll give you a week to enjoy that money, maybe 2 if your lucky.