you sign a piece of paper. they own your ass for life. simple as that. just kidding. prop shops let you trade firm capital rather than your own. in exchange you generate commissions for them through your trading volume. there's your good and your bad with all prop shops. but for someone like me who doesn't have millions of my own money to trade with, prop is the only way to go. besides, they take care of all your accounting, computer systems, market data, trading environment, real estate, etc....
Scottie, This topic has been discussed in depth before. Try searching it. You should get plenty of answesrs.
...you're welcome! Thanks Robert you've answered many questions for a lot of us on these boards for a while. rttrader/John -
Robert, You are welcome. I've known of your firm for a long time and have had several traders using your services. GreenTrader Tax has an excellent reputation here and in my community of friends. I myself plan on using you soon for my own trading tax needs and I also am looking to form and LLC. We look forward to working with firms like yours and providing information and trading services for the active trader. rttrader -
woops...I am sorry for the double posting, my appologies. I forgot I had already replied to Robert.....gotta stop at 3 cups of coffee in the morning.... rttrader -
Excellent opportunity best taken only in good weather or market conditions... that's what prop shop means... all those other wordy replies, just don't seem to hit the mark