I'm considering prop trading, but want to make sure it's a good fit for me and worth leaving my current job. My situation: I had some minor daytrading experience (6mos) from several years ago. I have spent the last three years working at a financial firm, studying technical analysis, etc. (am S7, 66 licensed might be the fact that I've averaged $50/hr. playing poker online over the last 2 years. (I know that traders could care less about things like an MBA, but I feel I have the skills to make it). I'm currently making ok money, but am hesistant to leave my job since I have a wife and a 2nd child on the way. I can afford it, but in this market I'd have to be sold on a good opportunity to walk away from my salary/benefits. My best friend that I began trading with has profitably traded for the past 4 years. He's moved to Chicago and we are in close contact. Moving is not an option for me, which leads me to my search within MN. My question: What are there for Prop firms in Minnesota? I'd prefer a company that would train me their profitable system and allow me to trade for their account. I'm not interested in any "fly-by-night" companies or firms looking to milk my funds dry. I'm also not interested in putting up my own money. I've heard there are companies that hire/train prop traders. I just don't know what exists in MN. I don't have my hopes up for the right situation, but thought it can't hurt to look... Thanks, Hutch ehutch26@yahoo.com
NDX, doesn't do prop trading, at least that's what I am told. Their ads look like they are retail shop. Look at the brokers section, call them to see if they have branches, ETG was trying to start something, but haven't heard about them lately. Good Luck.
im not sure if they prop trade but i visited thier office 4 years ago and they had rooms full of traders.i think they were a naz momentum shop at that time.maybe the bear got them too.
You can trade on the floor of the Minneapolis Grain Exchange. I was talking to a guy on the floor yesterday and he tells me wheat is going crazy. A bull market. Plently of paper from off the floor, record volumes. Costs $80 a month to lease a seat and very thin margins. www.mgex.com
Thanks, but I seriously doubt I could sit down with professional grain traders (with zero experience in trading commodities) and reasonably expect to make money. Also, I'm looking for a prop position. Thanks for the replies.
o. minnesota, eh? doesn't sound like the boys on the MN have a whole heck of a lot of edge over ya, guy. Can't beat the price, either.