1) i didnt make any insult 2) i do NOT have to have been trading for 7 years to know that these people do not know what they are talking about in regard to prop firms....
well, george soros makes money....yet still trades other ppls money...the point is you make MORE money if you are trading others money, provided they hve a bigger bank roll than you..... also, we pay 0.65-1.00$ RT commisions....most of you are VERY lucky to be getting under 3$.... the advantages are tremendous, if you start out with 10k of your money, you may loose it all, if not and you are very sucessful.....well your going to have a few extra bucks, if you are in a prop firm and are successful, you can be trading 100+ lots ....a size that you would never be able to even have the margin req for if you were trading your original 10k.... its not a very complicated concept.....
childe That's kind of the whole point some where trying to make! It's just a good CONCEPT but it doesn't pan out so well in reality. It just goes back to a simple rule: Those that can trade , trade. Those that can't make a living from trading, sell stuff to others. If I where to start over again prop would be the way I would go but it would still mean diddily to the end result in my opinion.
If you go prop, you start out in a very well structured environnement; best technical infrastructure,no internet connection problems also a very disciplined environnement; when loss limit is reached ; finished for the day; this is something especially newbies need the most a professional atmosphere is likely to behave you like a professional instead of trading from home while watching the simpsons on TV and the girlfriend that brings you out of concentration....
"Child" is missing the point for a few reasons but they all boil down to a lack of experience. To him it's "ALL" about the money because he hasn't learned there is anything of value outside of "The Dollar". To him saving a couple bucks in commission is priceless. He can't fathom that independent traders could actually make more "Net" dollars than his buddies at the "Firm" and be happier with less stress. Plus his sarcasm says volumes on its own. Next time I'm in South Florida I'll have to tell my bud that his 2 story penthouse, 4 vacation homes, 3 planes, 3 boats, 43 cars and various other toys are a figment of his imagination and that it is impossible for him to have accumulated that much stuff independently, without a prop firm, all by the young age of 36. And he will have to start working 40 hour weeks because the 15 hour weeks he's doing now are a joke. Boy is he going to be pissed.
actually, most ppl in my office are only there for about 4-5 hours per day....but when you are making 100k RTs/month that extra $2 sure is a pain in the ass.....or even 1kRTs per month...im sure that this imaginary 'buddy' of yours is not the only out there that does it, but like i said before....if you have 10k in your acct, you have to make it grow about 200k before you can be able to think about putting on a 100 lot position.....well, in my firm, there are traders throwing 100 lots 6 months in....so yes, you can go either way..... but the progress is MUCH quicker with a good prop....and there is a MUCH higher % success....and NO, no quality shop is going to ask you to put up capital....so theres also the fact that you are assuming NO personal risk this way...... and where do you think this prop shop gets rich? all the 0.65$ commisions?? on its OWN funds??? LOLOL.... the prop firm makes money off of its traders being successful.... LOL your buddy with 3 planes.....keep em coming......good stuff...
Guys, pissing contests and insults, though amusing, are pointless. We are not little kids in the back of the station wagon, on a long car ride, hell bent to drive the parents insane. lets not forget that. Lets exchange information and be polite, there is room for difference of opinion and experience.
1999 CESSNA CARAVAN AMPHIBIAN 6 seater Turbine Prop - Parked in Banff 1943 Stearman 2 seater - His wife's putter 1966 727-100 (His pride on joy) Painted Canary Yellow with Black stripes - named "B-Kaus-I-Can"