From Prop firm to prop trading for a Hedgefund

Discussion in 'Prop Firms' started by Cre8UrF8, May 18, 2005.

  1. Leisure

    Leisure

    First let me apologize for using a few harsh words in my previous post. I just wanted to make a point. Anyway, I make more than most daytraders precisely because I watch my cost. That is low commission and NO FEES! I don't gross nearly as much as I did in the past and I'm not going to let some Wall St. crook take more from me than necessary. I'm not advocating going for the lowest cost and ignoring everything else. All I was saying is that you shouldn't pay more just because a firm looks and sounds nice. What's in a name? Absolutely nothing. A daytrader is a daytrader is a daytrader. If you can make money, you can make money anywhere. If your firm's screwing you and the trading system you believe is bad, vote with your feet. You have to be happy where you are. Try to look for a low cost firm that may satisfy your trading needs first then go a little higher if the firm(s) you looked aren't good enough for you. Work your way up not down. You'll eventually come to a happy medium.
     
    #51     Jun 22, 2005
  2. Leisure,

    I definitely agree with your recent post, there is no reason to pay extra for a name or pretty frills that aren't gonna help you make more money. If you can't make money from trading, lower commissions aren't the answer. Learning what you are doing wrong in you trading is. But I do believe in giving a little to get a solid infrastructure and a good environment without any drama or politics and with other knowledgable and successful traders.
     
    #52     Jun 22, 2005
  3. trdwl

    trdwl

    Getwhatudeserve,
    Amen brother.
    You've got your priorities in order. I can afford higher quality, but I drive a beat up old hyundai. Every car I've ever had gets dented up in parking lots. Every pair of sun glasses I've ever had I've lost or sat on, so I'm more Waldgreens than Rayban. The only two things we've ever really splurged on are our home because of the view, and a transportation service, for the convenience. I love my wife and she loves me. The rest is frivolous in the final analysis.
    In my view, If your trading for the money you'll probably be less successful anyhow.
     
    #53     Sep 16, 2005