I'm trying to get into the business as a prop. trader. Any thoughts on Schonfeld or Hold Brothers. Thanks.
I don't remember that thread. Anyway, I've heard that Hold & Schonfeld are well capitalized and that is important. I've also heard that Schonfeld has just closed some offices and let many traders go and that Hold Brothers might be in financial trouble. Please enlighten....
When you look at firms, it is important to distinguish between "prop" and "pro." A pro firm requires a capital deposit. True proprietary trader positions do not require a capital deposit. Some places will ask for a deposit, but will hire you anyway if you say you have no money. By all means, try to get "hired" where you don't have to put up money if at all possible. If you put up $0, all you risk is time and effort, and you get the valuable experience of trading OPM. Good luck.
I can't compare those two firms. I don't know anything about Hold. Are they a true prop ? And besides Schoni , who lets you trade with no money down ? Sounds like an infomercial......Now you can trade with no money down and have financial freedom with positive cash flow.
Since it was brought up in this thread I was wondering if you can tell me about Hold. Are they prop ? Are they in NY ? (yes, I am too lazy to go the website and read, besides, I need my 30 posts).