Good info. Chimera seems quite solid. They reported over $10 million in member's equity as per their 2010 SEC filings, obviously not some rinky dink operation. They are one of the rare "true prop" models in the equities business (most who hire traders for salary are in Chicago and trade futures).
(No comment on either firm, just making a point) What is "member's equity" in their case? If traders don't put up money? Don
chimera is not a true proprietary firm. they prefer experienced traders . they have traders with risk deposits & also have traders with no money down split deals for selected pro traders. some people don't understand what a true proprietary firm is & how the model actually works there are very few true proprietary trading firms for equities around anymore
Right, my only point...thanks. For those who may find this of interest: http://www.stocktrading.com/startingtotrade.html Explains the various types of trading alternatives.... Don
As you know, "member's equity" can have several classifications, "A", "B", even "C", etc. Even if they didn't take outside remote traders who put up their own capital contributions, the owners with voting rights would still be "members" and thus have "member's equity" at the firm. After all, someone has to put up the coin at the clearing firm!
Of course, and thanks for pointing that out. I would like to see how much is "Class A" (owners) vs. Class "B" traders or other designations... again, not concerned about these firms, just in general. Don
Sure, it's part of doing proper due diligence before joining a prop. However, some focus reports make the distinction, and others don't. Don, rest assured, based on 2010, you've set the bar quite high for the competition in 2011, for both Class A and B capital. I guess longevity has its merits?
I trade with an offset company that is owned by WTS but I'm still a class B member of WTS. I've been trading for 3 years and have definitely come a long way in terms of both P & L (more consistent) and strategy. WTS holds seminars every week which I find very useful. I've heard many good things about Chimera as well but, I've had zero problems with WTS. You call, they answer. You e-mail, they respond within minutes (90% of the time). I traded consistently for about 5 months so they gave me more BP. I work both remotely and sometimes in the office space they provide (I'm in NY). They offered me a salary along with a profit split but, I turned it down as my P&L was doing pretty well. Might re-consider . Overall, good guys, great customer service, room to grow = happy trader(for me at least). Also, they offer a bunch of software (Lightspeed, Laser, Sterling, etc). Just thought I'd mention since a lot of firms usually offer 1 or 2. Hope I helped!
jordar Your the poser that made a million dollars on the other thread yesterday and wanted to start your own prop firm ( now deleted thread) shill for cygroup & wts . your a douchebag shill & liar caught dead to rights I trade with an offset company that is owned by WTS but I'm still a class B member of WTS. I've been trading for 3 years and have definitely come a long way in terms of both P & L (more consistent) and strategy. WTS holds seminars every week which I find very useful. I've heard many good things about Chimera as well but, I've had zero problems with WTS. You call, they answer. You e-mail, they respond within minutes (90% of the time). I traded consistently for about 5 months so they gave me more BP. I work both remotely and sometimes in the office space they provide (I'm in NY). They offered me a salary along with a profit split but, I turned it down as my P&L was doing pretty well. Might re-consider . Overall, good guys, great customer service, room to grow = happy trader(for me at least). Also, they offer a bunch of software (Lightspeed, Laser, Sterling, etc). Just thought I'd mention since a lot of firms usually offer 1 or 2. Hope I helped! right