no cap needed

Discussion in 'Prop Firms' started by doug456, Sep 29, 2003.

  1. doug456


    are there any firms out there that don't require your own capital. i would be trading stocks & mini futures. i realize i wouldn't get to keep all of the profits if there is a firm that will do this. also will they allow trading to be done remotely?
  2. Ebo


    They do exist!

    Try Schoenfeld or First New York Securities as a trainee.
    It helps to have a track record!
    Good luck.
  3. blb078


    if you are new First New York Securities is probably your best bet, i heard Schonfeld is usually for experienced traders and is hard to get on with them, i don't know if either offers remote trading though
  4. Ebo


    It is very rare to trade without capital or a proven track record remotely. If you find such a firm offshore lemme' know, I will sign up with you!
  5. Boomer


    i looked at fny firm and their training program. it seems pretty legit. i have also heard of etg, and other firms that will train their new traders. i know that these firms will get a % of your profits when you turn profitable. what do yall think about this. any been through a similar situation? i like the idea that a firm wants me to be profitable so they will also make money. sounds like a good deal for a newer trader. any thoughts on training and the like?
  6. mr_minty


    i'm at schony, trading remotely, but that is certainly an exception and not the rule...the firm doesn't really want their traders remote and would prefer them in an for trading futures, i think you will need to have a track record in order to do that, as most of the traders i know play with equities only...some of the larger traders can dabble with futures i believe, but i would say 90% are trading equities...schony has been good about diversifying, getting position traders and scalpers and retail customers, so it is always worth a shot to ask...
    if you do not have a track record i would say more than likely all you could do would be trade equities and that would be at an office...
  7. blb078


    do you put up a portion of the capital that you trade with? i wouldn't think a firm would let you trade remote and provide the capital.
  8. Just a suggestion that might help

    Take a look at some old posts here. (there is an option to search posts from the beginning)

    This topic has been discussed quite a few times
  9. mr_minty


    No, i don't put up any capital...i'm a prop return, schony will charge huge commissions and take a hefty portion of profits...small price to pay to trade larger size, in my opinion, but each to his own....
  10. putting up capital is called retail.

    LOL !

    #10     Oct 2, 2003