My thoughts on Prop firms (Some)

Discussion in 'Prop Firms' started by tradinpat, Aug 17, 2002.

  1. slumpey


    what about worldco and lynx. Like them both. Lynx has a good training program. Both you may have to put of a few dollars to start. Any NYC prop. firms hiring that dont require the dough to start. Please name a few.
    #21     Aug 19, 2002
  2. xtrader


    Many if not most firms are geared toward the successful or self-sufficient trader.

    The key is to find traders willing to help you. Possibly you can work out a profit sharing agreement. Most importantly, you have to be a likeable rookie in their eyes.

    Possibly you will be switching firms before you find the right one.

    Prepare to be very humble.
    #22     Aug 19, 2002
  3. Worldco doesn't require capital -- but only if you went to a good school and had a high GPA.
    #23     Aug 20, 2002
  4. if you can trade a firm's money before your own. you will learn far more than paper trading. i would rather have the crappiest deal trading some one else's money, because if you are CONSISTENT in your perfomance you can always take $10k to a prop firm. the days of consistently making 5 to 10k per day after cost have gone by the wayside. you should be looking to get as much experience under your belt as possible b'4 the next big run.
    #24     Aug 21, 2002
  5. smokey_mcPaat

    smokey_mcPaat Guest

    firms to definitely avoid:

    protrader, broadway, worldco

    i could type out many, many reasons but i'm too lazy- suffice it to say they are all piss poor firms with lacking technology and bad deals for traders, but not for them....
    #25     Aug 21, 2002
  6. wuzaaap


    Can someone at Worldco tell me how often the share-size bumps are at Worldco? How long would it take for a profitable trader to go from 1,000 shares to 5,000 or 10,000?
    #26     Aug 26, 2002
  7. silk


    It took me about 6 weeks to get to 1k shares, 4 months to get to 5k shares, and 6 months to get to 10k shares. If you are making money there will be no resistance in you increasing your shares.
    #27     Aug 26, 2002
  8. wuzaaap


    Thanks Silk.

    10,000 shares in 6 months? That's pretty damn impressive ... that says a lot about your abilities. Was that recently or back in "the Days?"

    Did you have to use your ENTIRE share size in order to make the point that you needed more size, or was it enough that you were trading profitably with MUCH of your share size?
    #28     Aug 26, 2002
  9. I agree ...
    #29     Aug 26, 2002
  10. smokey_mcPaat

    smokey_mcPaat Guest

    well, you sure as hell don't trade size if you are unprofitable...:D walk before you run- i traded 200 shares/ trade for 2 months learning my new system- when i consistently made 2 points a day, meaning $400 net for over a 2 weeks, meaning I knew exactly what i was doing- believe me- its a much easier mistake on 200 shares (esp on your account) than it is on 1000.....don't worry about how soon you get to __X__ shares, worry about making $$$$$$, then and only then do ya get to start swinging your big balls around :D
    #30     Aug 26, 2002