So, correct me if i am wrong. From what i understand so far, a trader brings in 10K or 25K or whatever that number is with them to a prop firm. Then they get 10 times the buying power. The trader is responsible for all the loses, and get a cut of the profit. How easy is it to lose 10K with 100K buying power? and besides, if i just need the normal leverage from retail firms, there is no split in the profit. Is retail trading and prop trading just a difference of making 100K (with prop firm's leverage) and keeping half, or making 10K and keeping it all? If i am more focus on risk and not wanting to lose the 10K so quickly (ie no need leverage) , is there a reason to trade through a prop shop than through IB?
I haven't worked with any prop shops yet, but it seems to me that unless you want big leverage, want to avoid the PDT rule, want training or the ability to work with professional traders, or if the prop shop you're interested in has lower rates, there is no reason to go with a prop shop. If you're happy with a retail firm's commission structure, software, customer service, etc, want to work from home, don't care about training, you're probably better off with a retail firm. Just my two cents.
Nasdaq, The profit percentage you keep is closer to 80-100% depending on the firm. And the buying power is higher than 10 depending on the firm and your skill level. -ae
MBF runs an internship program every summer, though looking at some interns CVs (if you don't have contact there that is) you may have better chances applying at Goldman for a prop position!