Questions on Equity Day Trading for a Prop. Firm

Discussion in 'Professional Trading' started by benzine, Feb 27, 2013.

  1. benzine



    I have recently been offered a position as an equity day trader for a proprietary firm called World Trade Securities located in Canada. I had a few questions, I hope someone can give me some insight on this.

    I would consider myself a newbie to day trading especially for a prop. firm. I am working a stable job at the moment, however, I am not in a field I would like to be. This offered position interests me so much, but still there are a few negatives and a few conditions that makes me confused.

    I am offered to trade the firms capital with a max. loss of 40$ a day (which they actually cover). The only fee I am being asked is the training fee which is approx. 1k + tax. There is NO SALARY in this position... You can only make money on the money you actually earn (from which they take their part). Furthermore, you have to recuperate all your losses before they start paying out.

    This is obviously a starter position. I was informed that the available capital assigned and the stop limit to you moves up the more successful you get.

    I am curious as to how much you can actually make working for these kind of firms... I have NO CLUE as to what a DECENT trader could make in a year. I do understand there is a learning curve to this job.. but If I end up doing this only to make 40k for the next few years It's really a turn down.

    Has anyone had any experience on these kind of positions? Any clues as to what to expect as a salary within the next few years?

    Any help would be appreciated.