Prop Job trading Futures or Equities

Discussion in 'Prop Firms' started by Chitown, Dec 10, 2003.

  1. Chitown


    I am wondering what would be the pros and cons of trading the two. From the perspective of a job seeker looking at taking a Proprietary trading position in one of these two. Both would be on the screen and lets assume pay and commissions are the same. Any info in helping me to choose would be greatly appreciated.
  2. Pay and commissions won't be the same. From what I have seen the upside to futures prop is a lot higher and commissions a lot lower in a relative manner. Besides many futures prop firms are thriving and growing while many prop equities firms are struggling to hang in there or scaling back. You can scale up a lot more with futures for short term intraday trading then you can with stocks. If you can get in my recommendations is prop futures (real prop that is -- no cap contribution on your part). Many threads done in past on some of the firms that are out there.
  3. Chitown


    Thanks, I have interviews with a futures and a equities firm after the first of the year in chicago. Neither requires a cap cont.

    I have heard that futures are easier (I know this will draw a lot of comments as to what easier means) in the sense that there is more volume and a larger range on a daily basis. I am assuming that both firms would be looking for a scalper and not holding positions over night. Any truth to this.
  4. Boomer


    anyone care to post some future prop firms.....thanks.
  5. manna


  6. According to the latest news out there you should have no problem getting a job at these firms, oh, and get paid handsomely each month, during your education months... LOL

    read on..

    Article posted by Jim Kharouf:

    Jim is a freelance writer and editor with more than 13 years
    of experience covering futures, stocks, and options markets
    worldwide. He has written extensively on equities,
    indicies, commodities, currencies, and bonds in the United States,
    Europe ad Asia.

    Jim is also, slightly misinformed!

    from momo to Jim: Merry X-mas ;-)


    on page 70, 2nd column, 3rd paragraph down you state, "For some proprietary trading firms, it's not uncommon to pay a base salary of about $30,000 for the first six months with training on simulated markets, followed by a 50 percent take on real trading profits thereafter...."

    Honestly, I know many traders at many firms across the nation. NONE of which will currently pay a SALARY of $5000 per month,
    for you to just practice trading the markets real-time on a simulation platform.

    There is a difference between a DRAW and a SALARY, as I'm sure you are aware. However, what you wrote was very misleading
    to your readers.

    I realize that you would not have done this on purpose, however, I do feel that you have either been mislead by those that you sourced your information from or you simply didn't dig deep enough in your research as to what these firms are really telling the people on the street who happen to apply for a position at these companys.

    If I am in error, please, in the name of peace, love and charity, for Godsakes, give me the name of just one of these firms!


  7. Chitown


    Great post Momo...both positions that I am going to interview for pay about the same...30k first year but both are a DRAW! I always read about people asking about pay for prop jobs and I try explain to them what a draw is. It is not a salary and once people actually find out what it is they mostly don't want the job.
  8. A draw is not bad if you already have a trading strategy that works; especially if you know that once you begin trading at the prop shop the money will begin to come in.
  9. okwon


    Most futures shops give you the draw while learning. You initially get the draw whether you are profitable or not. So it's not like you have to be making money first in order to receive the draw.
  10. cartm


    I thought it was a pretty good article, I have the hard copy, tried to post a link but you have to purchase that particular article.......I think they quoted Don a bit in the article.....I do agree there were some questionable comments made.......if someone gets it post a link....................ty
    #10     Dec 15, 2003