if you have 25k open an account with IB and no 7 needed. the day trading model is dead for a reason learn to take a small position. bp was very important at one time but this is not the market for it. if you can't come up with 25k don't trade you won't have enough capital for tuition.
prop is meant for traders that require 500k bp plus retail can not compete with the prop model in many ways. no substitute not fading away by any means stick to what works for you newbie
i took the 7 15 years ago. i would bet only 10% of traders at prop shops have more than 500k bp. if you put 25k down at a prop shop see how long it takes to get it back. if you put it at IB as a customer the government backs it and you can have it back anytime. there were tons of prop shops in 2000 and isn't fading away mean a lot less than before? its a dead model because commission at one time was $15 on a 1000 and now its $4 on a 1000. they can't cover the rent and trading risk on those rates. i bet my advice is right for 90% of traders with 25k.
has nothing to do with bring bright. Most of the exam is about rules & regulation. it's not about trading. It's about the financial services industry and how they are governed. You have to demonstrate you know how the industry works prior to trading. the exam serves a good purpose. it slows down props advertising as a job because in order for the trader to pass a licensing exam, they have to be smart enough to be able to realize prop trading is not a "job". You are not being hired to complete a task. You are trading capital in the market and have to understand what that entails
another jerk what do i not know? i traded prop for along time. there is nothing special about trading prop for most small traders. you have to pay more fees when your prop. the best thing about prop shops were bullets and the low rates. the rates at IB are not bad for a little trader in this market and your always welcome to take your capital out without begging for it.
Your living in the past , time to come back to reality The year is 2012 You can't compare retail to prop , two different animals , traders choose each for different reasons The Only reason prop exists is for the leverage real traders understand the difference & know prop will not fade , nothing better then the use of opm
you should not keep using the word real traders because most prop traders are not even profitable. i would agree though prop is for leverage.
you keep looking to argue a fact your wrong about into the ground. i am sorry i can put up at least 25k and day trade privately. i can't deal with this moron anymore i give up.