Is prop trading rubbish ?

Here in Paris, we don t know this kind of job, you put 5 k then the firms add some money and you trade for them, you win you stay you loose bye bye. That s it ??
Do you think that a guy like me who trading for himself can join easily the kinds of firms, or it s better to stay away from them ??
Thanks

 

Why is everyone spelling lose, loose??? I have seen it time and time again and I am not sure anymore if they are spelling it wrong or am I missing a meaning behind it.

 

I do not live in the US....but I do use Genesis...

Excellent rates...fast executions...especially for Nasdaq stocks...

Will give 10 : 1 leverage....

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For retail.... IB combined with Medved´s Quotetracker is as good as it gets...both in technology and rates....

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I think by "loose" he meant "perdu", Cut the guy some slack english is his second language.

 

my english is not perfect.......

 

When you put up 5K of your own money for 30-1 pro leverage, that's called pro, not prop.

Prop trading is when a trading firm provides 100% of your trading capital to trade their systems. Prop trading for Schonfeld is how I got rich, so it isn't rubbish.

 

Cut Froggy a little slack, he has better grammar than most native English speakers on here!

 

It's my understanding that there are primarily three reasons people trade through a prop shop in the US: a) mentoring (learn how to trade), b) excess margin (more than 4x allowed individuals), and c) short on a downtick as a market maker.

Can anybody think of other reasons?

 

thanks all !!
But these kinds of firms required a series 7 !!

 

Series 7, yes, and probably series 55 too. Legally, you are trading somebody else's (the firm's) money. There is also the possibility, however remote, that the firm could fail suddenly and unexpectedly, and your equity could be at risk.