prop firm dilemma

Discussion in 'Prop Firms' started by simpleplan, Feb 4, 2004.

  1. zdreg

    zdreg

    you've got to be kidding. people on this board who put up 10K think they are senior partners and are running the firm while throwing money at the owners.
     
    #21     Feb 11, 2004
  2. zdreg

    zdreg

    with your 1st line you have defanged wordlco bashers for a moment. don't worry the worldco whiners will regroup quickly.
     
    #22     Feb 11, 2004

  3. I was mentioning it's not WorldCo because I didn't want people to assume that I was trading for WorldCo, a firm that was known for its shady practices, and that's why I had such a bad experience. It wasn't WorldCo i was working for.

     
    #23     Feb 11, 2004
  4. Soesman

    Soesman

    In the firm's I've managed, someone who put in 10k was afforded the same quality of service as those who put in 1mil. If they bitched and moaned they were looked at as any idiot who was exceptionally rude. It seemed however the rudeness level was in direct correlation to the amount of stupid, (not bad) trades that they decided wasn't their faults.

    I will say however that I would go that extra mile for a heavy hitter in terms of additonal services that cost the firm extra dollars. If a guy is making me thousands a month I will give him addditonal equiptment and technology if needed. If a guy who was barely break even requested it, he would have to pay any additonal costs himself.

    But yes there are those who barely maintain accounts and think they own the firm. But its more of a personality flaw than a monetary one!
     
    #24     Feb 11, 2004
  5. The most amazing advantage trading gives you is FREEDOM. You need to answer to no-one but yourself.

    Once you go prop, you lose that advantage. Suddenly you need to answer to everyone, just like when you had a day job, except you don't even get a salary!

    As I mentioned before, I was naive not to be aware of these things. I appreciate traders that ask opinions on elite before going prop. Because I didn't. I simply didn't know where I was walking into. That was a very very naive move on my side. Anyway, you live and learn.
     
    #25     Feb 11, 2004
  6. i'mlong

    i'mlong

    how does this contradict what i said?
     
    #26     Feb 11, 2004
  7. CalTrader

    CalTrader Guest

    Look, this type of behaviour is classic sales (scum) techniques. Obviously to the firm you were nothing more than a customer to be pressured.

    Bottom Line: Any firm that behaves like this should be ignored. That is the word needs to get out that this is their mode of behaviour and that this is the scam they are running and basically the industry should refuse to do business with them.

    I know that my companies would refuse to do any business with a firm that operates in this manner: believe me I have heard this story before not only in this industry but in others and there are plenty of companies - big names by the way - that we avoid and politely refer to our poor competitors.

    Thoroughly check out firms before you do business with them: the easiest way to do this is to pull credit reports and do background investigations on the owners / officers. I have never yet found a disreputable firm in which a background investigation of the officers or principals did not turn up something negative.
     
    #27     Feb 11, 2004
  8. zdreg

    zdreg

    it doesn't contradict at all. i was kidding you for making an obvious pt.
    on the otherhand considering some members of this board it was probably worthwhile to say.
     
    #28     Feb 11, 2004
  9. cashonly

    cashonly Bright Trading, LLC

    Hi Simpleplan... didn't catch this thread til today.

    Trade and make money. That's your number one job. Any prop firm that doesn't want a profitable trader has issues.

    Cash
     
    #29     Feb 11, 2004
  10. i always wondered that if a prop firm trusted its system, its traders and its trader screening process--- why does it require a capital contribution from the trader ? can someone explain this to me ?

    surfer
     
    #30     Feb 11, 2004