Hi Guys - I have 28 years experience in the markets, starting my career on the LIFFE floor and then moved to screen based trading, mainly the DAX on Eurex. I was working with a small prop firm for the last 4 years until they blew up in March after some a rogue trader carried some huge positions into the weekend. I had close to EUR 600k on account with them which was all frozen as the they owed the clearer a lot of money. I was making 600 - 800k per year net profit with them. I am now with a small London firm but their attitude to risk is awful and I fear they will suffer the same fate. Since April 2nd I am up about 220k (Euros) but I am looking to move ASAP. (P/L satements can be provided on request) Are there any prop firms in this forum or potential backers on this forum who would be interested in backing me. I work on a simple 50 / 50 profit split. Having had 600k stolen from me by the previous firm, I am in a situation where I will need funding. My trading is all DMA Dax Futures - no overnight, no algo, no arbitrage. Just old school trading. Open to offers...
If you have 50% of €220,000 then open your own account at an FCM. Then you do not have to split profits.
Having had 600k taken from me the 220k is well and truly spent! Plus I enjoy working with a prop firm. Of course profits are split but a good prop firms brings added value.
You was making 600-800K per year net profit, even with 50/50 split, where rest of the money gone ? Sorry, just intersted to know. maybe i'm missing something here.
http://towertradinggroup.com/ https://www.xconnecttrading.com/ https://www.marexspectron.com/ https://axiafutures.com/ www.positive.ie www.myriad.ie www.geneva-trading.com
With those types of returns, you shouldn't have to go out looking for firm....they should be the ones out looking for you!
Why would anyone give 50% to a prop firm then another 20%+ to the tax man. Why dont you just open an account with someone like AMP Futures? Margin for 1 large DAX is $2500, and $500 for the small dax futures. How many lots do you need? I wouldnt keep 600K with any firm, not unless it was a small percentage of my networth.
Well with a prop firm I would trade double the size meaning I make the same as I would alone, but working with a prop firm offers lots of other benefits including not having to deal with the clearing houses etc.