Former Prop guy, now trading on own

Discussion in 'Trading' started by magman, Apr 25, 2002.

  1. magman


    Are there any traders who started at a proprietary firm, learned the craft there, enjoyed some success and then left to go to a retail firm because you were tired of sharing your profits?

    I'm a magazine writer doing a story on proprietary vs. retail trading and would like to hear from you. Send me an e-mail and we'll talk more.
  2. I've got a better story for you, friend - how about something on how the options markets screw retail investors by not honoring posted markets?

    Seems to be that something like that may be a tad juicier.
  3. Why go retail and give up the benefits of a prop firm...just find a good one where you don't share profits...

    (sorry, but this questions was too easy).....serious answer however...

    You may want to check the TASC articles about Professional vs. a beginning....and then I (for one) would love to see your perspective.

  4. carlp


    What are the TASC articles and how do I get there?

    Really would like to read some of that stuff.

    Thanks in advance.

  5. (Not a plug, but you can go to my website and click "articles of interest").

    Also, Rtharp has written an excellent article about Prop trading...send him a PM, and he will share it with you.

    TASC = Stocks and Commodties magazine...

  6. Why go retail and give up the benefits of a prop firm...just find a good one where you don't share profits


    1) Prop firms will shares profits, but a lot of firms are based on ticket average. Hard to get a good ticket average when they want their traders doing high vol.

    2) Like a cool salesman, they'll rape you one way or another. Even if they offer you 100% profit, they will kill you in high ecn fees.

    3) Prop firm are like boot camps

    Now, the good

    You get to trade someone else's money.

    My two cents,

  7. High ticket average? Bright, Echo, Liber & Weissman, Van Buren and others have No ticket charges.
  8. :p

    You have got to be joking right?
    Think about it...what is more liquid, the derivatives (option) or equity mkts?

    Does this explain your gripe?
  9. I agree completely with the above. The "prop" firms who let people trade with no money, split profits, and charge ecn fees are a horrible plague upon the Earth.

    However, we are the "good guys"....
    We do none of the above...
    Just couldn't resist turning around a tirade. There are different business models for all businesses, and even if you give people everything for free, they still won't be able to make money.

    This is a business, unlike any other, and it is only the success of traders that makes it viable. With unlimited upsides, and very limited downsides, we do what we can to help those interested in running a "career" and a "business" all in one.

  10. Turlo


    Look for a prop. firm that lets you keep 100% of your profits.
    There are tax benefits trading at prop. firms.......and you will be hard pressed finding better commissions than at many prop. firms offer.
    #10     Apr 26, 2002