I'm starting a prop. firm (LOL)

Discussion in 'Politics & Religion' started by WDGann, Sep 21, 2003.

  1. It seems like a good way to generate money on the side.

    Here's what I can offer...

    -$3.00 round turn commission on E-mini products.

    -$500 desk fee. 2 moniter and execution software(TT or J-Trader?) + datafeed (Tradestation and E-signal probably)

    -Optionally, a TS API that fits and possibly codable your preference. Auto-execution if write systems. Indicator or some noise filter (takes time working with the individual but it's possible)... Also a Black Box system(with a detailed explanation of what it is... code disclosed though) if you want some basis of trade.

    -Probably in LA or Chicago... I like LA and love the town(Lakers rock!) or Chicago(Cubs Rock!) because I'm located there.

    -Capital provided w/ $500 daily loss limit

    -First start w/ 1 contract. Given a bump every 5 consecutive winning days till you hit 5 contracts. Then you'll be given a set capital to trade under. You're fired if you lose more than $5000 during the 5 bumping period.

    ...

    Well, how does this prop. firm model sound...

    Will this work? This is not an offering but a rather a brainstorming based on realistic conditions.
     
  2. What's in it for me if I gain 10k during the 5 bump period :D a case of beer?
     
  3. 50% payout after fees...
     
  4. Man, seems all those your startegy written in C++ made
    you a lote of money everyday.
    Thinking where i am standing today? Lets bust our ass
    with C++ from today.
     
  5. i knew you started this thread, just from reading the thread title.

    i'm good at guessing aphexcoil's and harrytrader's, too.
     
  6. How's this:

    A systematic and discretionary trading prop. firm.

    1. The firm sponsors upcoming system traders who are looking for funds to have the system traded with capital. The firm keeps 50% of the profit but the system developer keeps the code. As the system is foreward tested, the incentive decreases to 25% and eventually helps the trader start a CTA firm, meaning will eventually be the starting investor of the system model.

    But the system itself will go through relatively rigorous(OK, average for me and some others) statistical analysis. If the system the guy brings in survives the tests, it's a GO sign.

    2. Just like any prop. like written above. If you provide capital, then 95% incentive. 50% if you trade the firm's cash... (This is after costs like desk and commission)

    2a. If the guy has some major problems, the firm will provide the guy with customized system or signals to trade under. First, it will help the guy to learn to be disciplined. He'll be given all the same discretionary conditions but has to trade the signal. After that, the trader starts to pick signals out based on other intuitive or conditional situations. Once the trader starts to out-perform the system, the system becomes loosened up. Until, he doesn't need it.

    Though, it doens't mean less is better. He may want to keep a few conditions for his own good. Everyone has strengths and weaknesses.

    How's this...
     
  7. 50% Ohno! That might make me feel like I was rich or something. Make it 25% and you got a deal. :)