Deal for New trader

Discussion in 'Prop Firms' started by Purple Barney, Jul 4, 2007.

  1. Ok the firm is Echo and payout is 90% for option 1, 99% for option 2.

    Again, i know there are better deals out there, probably always will be, but as a beginner, the most important thing to me right now is learning the craft, so as long as the deal isn't TOO bad, I am ok with it. So, is it too bad?
     
    #11     Jul 4, 2007
  2. Unless they offer a very high quality training program that no other firm offers, I'd look elsewhere. btw, which branch is this?
     
    #12     Jul 4, 2007
  3. Maverick74

    Maverick74

    It blows me away that there are new traders starting out today that actually WANT to trade stocks. PT Barnum was right.
     
    #13     Jul 4, 2007

  4. What do you mean?
     
    #14     Jul 4, 2007
  5. Maverick74

    Maverick74

    The stock game is over, especially for newbies. Nothing but auto-bots trading stocks. There was a time when trading stocks had a legitimate edge when bullets were around and tape reading was a valid strategy with listed stocks. But without either now, what is your edge?
     
    #15     Jul 4, 2007

  6. i think one could still eek out a living trading stock prop with the right information flow--- plus stocks still retain the edge over directional index future trading.

    surf
     
    #16     Jul 4, 2007
  7. Maverick74

    Maverick74

    Surf, most of the money made in equities now is in PIPEs. There are guys that can eek out a living if they run an efficient auto-bot themselves. But they need to trade millions of shares a day and being paying rates about 1/10th of what this guy was offered. Sure, eeking out a living is possible. But why not be a public school teacher then? At least you get benefits, a pension and some job security. Who the hell wants to eek out a living trading? LOL.
     
    #17     Jul 4, 2007
  8. Do you mean scalping? Or trading stocks period? If its over, whats everone here at ET doing? What about swing, which is more what I am doing. Just curious, thanks.
     
    #18     Jul 4, 2007
  9. I think you're being too harsh on the new poster. Just because people have bots doesn't mean a determined person can't make a living trading stocks? While being a school teacher is a very noble profession, it may not be enough to meet his financial goals.
     
    #19     Jul 4, 2007
  10. Maverick74

    Maverick74

    I have no idea what everyone here at ET is doing. That's a great question. LOL. I would venture a guess the percentage of ETers that are still trading stocks is probably at an all time low now and still dropping. I fail to see where the edge is in swing trading stocks. You are prone to all the risks of holding a stock overnight in the face of news or geopolitical risks.
     
    #20     Jul 4, 2007