No ofense, but selling the product you sell here, your opinion will always be biased in this matter, since you need people to believe that these "traders" actually know how to trade, so that they can believe also that that can be taught(and that someone who knows what he is doing is willing to teach). I'm not giving my opinion on the matter, I'm just making an objective, imparcial observation.
1. I don't know of any futures prop firms that "teach" newbies how to trade. DRW does (or used to) have a college internship program. 2. Please name one exchange registered Chicago or NYC electronic futures prop firm that does NOT have a really good trader as a firm founder or principle. You can't. (DRW, Optiver, Ronin, Jump, etc. etc. etc.)
for me trading prowess means being able to trade for a living, nothing else, not profitable, not great, not legendary, nothing the guys who are principals in anything do not trade for a living
Have you ever watched a movie called "Margin Call"? It is as good one... At some point, Jeremy Irons, who is "the big boss", feared and revered by others in the firm and in "the street", asks for his analyst to explain what is happening to him as if he(the analyst) were talking to a dog. Even though this is a movie, to me, this reflects perfectly the reality.
the guy is the sponsor so lets not to give him a hard time... at least he is paying for our time here
If you are disputing the resumes of Don Wilson, Bill DiSomma and Paul Gurinas please by all means continue to post about topics you know nothing about. PM a really seasoned and experienced trader like Maverick and ask him if you don't believe me. Google their names. Google the firms I cited above.
i do need to pm anybody since there are no authorities for me on this issue, and i do not give crap about any names... and do not call me dude or sporto, ok... have a nice day
What Bone is saying is true. I’ve traded at about 4 prop firms over my career. Not everyone that walks through the doors makes money. That’s life. But everyone of the firms was full of people making a lot of money trading, some over periods of 30+ years. I would never have made a penny trading if I hadn’t joined a firm and got taken under the wing of experienced guys. Some of the firms were run by people that weren’t great traders themselves. So what? They hired guys around them that were good traders and partnered with them.
An exchange registered futures proprietary trading firm is a completely different thing entirely as compared to the more commonly known equity prop business model. One big difference is that at a registered prop futures firm you as a trader are a W-2 employee - by CME and ICE regulation proprietary futures traders employed by these firms are not allowed to use the employee's capital. In other words, the trader is putting the firm's capital at risk and not his own.