For what it's worth: The changing face of professional trading is leaning away from the "prop" trader (as in the "employee type"). Many firms just lost too much money doing it, and the better traders found that it makes more sense to put up a little of your own money and treat trading as your own business. As in any business, do your own due diligence...... Oh yeah, there are good firms in our little arena....ours is just one of them. Don
If you want to do futures prop you need a very good trading record, and like anything else, good connections help. One reputable firm I have heard about is Geneva trading in Chi town, from their website I think they mostly do Eurex, and yield curve stuff. Prop stuff can be confusing bc the market is evolving very rapidly. Just my 2 cents.
<the firm reduced its lineup of 800 traders to 650 and no longer accepts people with no experience/capital. Many former heavy hitters are not even up for the year, and it is clear this will be the toughest challenge for anyone intend to be in this business for the long run.> this is a quote from a trader at one of the bigger prop firms out there. can anyone truthfully say that this yr is going to be a banner year for them as a prop firm trader ? I can see things getting worse before they get better for many based on recent volume and activity on the exchanges
anyway ... this is what my tea leaves say if things do not pick up soon ... I mean overnight on Instinet there was hardly anyone making markets .... maybe there will be even more consolidation in the prop firm universe ?