Prop Groups are PHONIES and full of BS

Discussion in 'Prop Firms' started by trader963, Aug 23, 2002.

  1. Any prop firm that splits the pnl and charges a commission is a fake! They are only interested in the commissions!

    HOLD......Fake
    ANDOVER.....Fake
    ZONE.......Fake
    BRIGHT....Double FAKE (not a true prop)
    MANY MANY MORE

    If your a REAL firm LET THE TRADERS TRADE AT THE TRUE COST OF CLEARING AND FEES.

    ZONE $.50 per 1000 shares
    Bright $2.30 per 1000 shares (EVEN WITH CRUMMY SOFTWARE!)
    ATTN $1 PER
    HOLD $2 PER 1000

    WHY DONT THEY PASS THE FULL REBATE TO ALL TRADERS!
    INCA PAYS 2.00 FOR ADDED LIQUIDITY PER 1000
    TRAC PAYS $5.00
    ISLD $1
    ATTN $5.50
    NTRD $3.50

    Does anyone know of a true prop firm?

    I GUESS IT WAS OVER WHEN THE GERMANS BOMBED PERAL HARBOR
     
  2. bone

    bone ET Sponsor

    What it comes down to is that you are only keeping about 25% of your profits - if you're good. Also, you can show a loss, but the firm is still making money. Institutionalized slavery.
     
  3. i have been making money for one of the jerk off firms you just mentioned for some time now. look, i understand they need to make money, but don't tell me such and such ecn is a pass through expense, and then mark it up and treat it as a profit center for the firm. or charge guys on the west coast $2.5 per 1000 shares and not budge on the east coast. what the f is that? i'm here to subsidise your trading operations in other states? tradescape has a phenomenal deal for customers. its worth puting up the extra 25K verses the 10K at one of those prop firms. i will be suprised if their new deal doesn't force rates at these other firms lower.
     
  4. actually, i think that we would have to be fed and clothed as well, to be promoted to level of slavery.
     
  5. some of you guys are funny.you expect to go to a prop firm and use millions of their money to trade and probably will lose money and yet you complain about the firms.quit your bitching.it gets old.this is america. we vote with our feet.if your not happy leave and trade elswhere or better yet start your own firm and do it your way.
     
  6. Funny thread. Its seems like people always want something for nothing. Guess what, those people are usually unsuccessful in life. Let me guess you want to use firm capital, pay commissions at cost, get 100% of profits, and not be responsible for losses. What a joke.

    If you were making money you wouldn't be whining. Take your skirt off, learn how to trade, and stop bitching and moaning.
     
  7. IF you were making money you would not be bitching, the firm is at risk when there giving you between
    10-20 times equity so they have to capture the risk some where.
    Go whine some where else
     
  8. your signature quoted Chris Rice. Who's Chris Rice, and how is he (his quote) relavent to trading?
     
  9. and that Election occurrs EVERY DAY!

    so go out there and VOTE!
     
  10. I would be fascinated to know who / what service Tradescape is/are?

    (I hate commenting in the blind, w/o full facts, but, I can certainly question in the blind)

    Tradescape, please provide us details on what their deal is.

    The way the saleman job works is like this:

    1) a slick talking person walks into the company and promises to "drive business in the door", and then asks for concessions so that they can mark them up and provide "many levels of pricing"

    2) they then "verbally" offer the world to all disgruntled traders, newbees and others

    3) they deliver on their promise for a short time and build a (false) reputation

    4) they cash in and leave or change rolls

    5) the underlying company suddenly declares a "change in procedures" and asks for "resigning" of all existing accounts or immediate termination

    6) suddenly you're back where you started, just worse off than when you changed from where you came from

    Oh, and for those really sophisticated types, they sought to get those promises in writing, and actually have some documentation in writing. But, when the new agreement comes out one of two things happens:
    a) the writing that they have, either doesn't have a duration clause
    b) the new modification anulls all previous agreements.

    Then it starts all over again.
    Enjoy the ride, because life is a journey.
     
    #10     Aug 23, 2002