Prop trading wise?

Discussion in 'Prop Firms' started by JGLMac, Jun 16, 2003.

  1. JGLMac


    I am finishing up my degree at a small business college in Massachusetts. I will complete all the requirements for my BSBA in December; I have been going part-time while working full-time for the past six years.

    I have traded -- not daily, but short-term (mostly options) -- for the past three or four years. My record isn't remarkable, but it isn't bad, and I've learned quite a bit. I actually wanted to get into financial advising, but I read about proprietary trading about one year ago, and it seems to have a few more upsides that advising does not (mainly, you trade for yourself, and earn your own money; versus the cold-calling aspect of advising).

    I have noticed there are a few firms that don't ask for capital up front, but I would imagine their hiring process is very selective.

    But what about firms like EchoTrade, Assent, Bright Trading, etc? I have read they require different amounts of capital upfront, but (this is where I haven't found a lot of information) do they then allow you to trade beyond your capital? Does anyone know what the common minimum capital contributions are?

    Will these firms generally sponsor you for a Series 7, and pay the costs of the test?

    I'm sorry if I am a little naive, but that's why I am asking.