Their group leader took a big hit from one of his OTHER traders and the firm decided to shut the group leader down. These 2 guys who have been extremely profitable for the group for nearly a decade were told they would need to put in additional capital which they don't have. Both these guys are up to date in series 7, 55 and a couple other licences (I dont remember their requirements exactly as I am not in same firm as these 2) One guy avarages about 250k shares a day and the other guy avarages about 100k a day. They worked in the same place nearly 10 years, always loyal and never left with a debt (they were both negative in their accounts from time to time because of low capital requeremnts , since they were trusted). Right now they are both positive in their accounts (and lets be honest, the market has been extremely tough on prop guys last 6 months generaly speaking) but like I said, the group leader is gone and the firm (which may be in trouble) is acting very strangely. So what do you guys think. These 2 need to get into a a firm that will allow them to trade 0 down. Im sure the terms may not be favorable to them in terms of payout or commisions but at least they would still be trading. I will not mention any names so don't ask.
Trading for 10 years, extremely profitable, but can't put any capital down? Something doesn't add up.
Let me get this straight....... You "know 2 guys" as ppl you met off the street or they your friends, or what?.... Sounds like you're hiding something... These so called guys that you know..... they hired you to be their PR boy to help them get a slot in a prop firm?..... Anyone else in here smell....
I can't imagine that after 10 years of profitable trading they can't come up with 5-25K deposits. Doesn't make ANY sense. A McDonald's employee can save up 10K in 10 years. Secondly, I suggest they contact all the firms they can directly and see if they can find what they're looking for. Anything you hear from any of us here is just speculation on what might happen.
They are both my friends. I used to work at their firm 4 years ago and we still keep in touch. One guys was never very profitable for himself(he made a little consistently and spent it on bills etc), but very profitable for the firm, and the other guy is very young and spends all his money as soon as he makes it . Both have been extremely profitable for the firm they worked for and Im sure they can show proof of that (not hard to do). And the only reason they are both shut down now is the groupleader is done. Seems like a good opportunity for a prop firm to pick up couple of consistent money makers .
does not sound like a consistent money maker but more like consistent commission contributors. Nothing more nothing less. Send me their CVs if they have made 3 million USD or more in net profits each of the past 3 years...
Agree 100%. I've traded full time 13+ years and if I had nothing to show for it in terms of retained profits, savings, longer term investments, etc. I'd not consider myself successful.
Without mentioning any names can you give us a little more information? In what city are these two located? What is the commission and fee structure they have been paying in their current firm?
My business experience is much more extensive than my trading experience. That said, my instinct is that this is one F _ _ _ ING strange way for two guys who have been even semi-successful in any industry to be shopped. Presumably they both have telephones. They should pick up the phones and begin the process of meeting with decision makers who can put their skills to good use. I know one guy -- me -- who thinks this is one of the oddest posts I have ever read.
Yes . One guy is a consistent money maker but spends his money as soon as he makes it and the other one is not consistent (for himself ) at all. I dont think either one netted 3 million last year(?). One guy has payed about 140k in commisions in the past 7 years and the other around 250k . But like I said, they are both low risk traders who consistently make money for the place they worked for . Who are you ?