all ecxept my buddy Don Brights firm. all these NYC prop firms that require a 7 are just a bunch of retail firms dressed in drag.
After 8 months trading remote with such a firm and slowly bleeding money to high commissions (and some just plain losses), I see myself pursuing profit split arrangements when I become profitable. While giving up some % of profits, it would be a reality check in terms of whether one should really be trading or not. Also, if you lose money for a period of time, you're out. Makes sense to me and enforces a true assessment of performance. Do folks find these deals by giving out a copy of their statements? Or is there a trusted third-party audit or what? Is there an industry standard way of doing things?