I was a trader at schony for three years. I must say i was treated well, handled more money than many could think about trading. I was taught by some serious traders who put up, yes 12 million plus a year. Shony went through a little growing pain but i think they are back on track.. I left to join a partnership.....Trading options.... I left because the game ended when they killed the spreads...to a penny. I highly reconmend schony to any new trader.....now things have changed......they are not so gracious with buying/shorting power...meaning it will take a while to get to trade milllions. But, the training is worth the time and effort. I have friends still and they still enjoy trading for schony.
Well if you are concerned about getting cheap rates I would say you are way off with this one. I heard the head trader is very good, but I the level of training their did not stop several of their traders from leaving recently, because the rates and trading costs were so crazy. Who pays $80 per thousand for bullets these days?
Can someone give an example of a typical month (this past Oct. for example) and explain the rates, commissions, etc. with specific trades they did this month ... I'm trying to get a better understanding of how one makes a living by trading (without salary that is) at prop. firms. Examples of how many trades, how much they paid for commissions, what their net profit was ... i mean if some firms offer $50k during training, does that mean that those who don't the traders there are guaranteed to make over 50k that year? I'm still trying to understand commissions, bullets, etc.
Well if you are concerned about getting cheap rates I would say you are way off with this one. I heard the head trader is very good, but I the level of training their did not stop several of their traders from leaving recently, because the rates and trading costs were so crazy. Who pays $80 per thousand for bullets these days? ____________________________________________________ I personally know the trader I was there to help open the office. He only helps the people he likes if you get on his nerves with being to set in your way's he will ignore you. But on the other hand he gives some a salary. It's not fair but having good social skills in that office will get you far.
can someone comment on Heartland Securities as well? If you were to compare it with Schony (i've always heard/read the two prop. firms in the same context ... along with FNYS) I guess those three firms are tops? (in other words, i hear they offer salary and have a decent training program ...) how do you they compare with shony and fnys?
i used to work for schonfeld. their good points are that the treat their traders very well, their training is some of the best out there, and they usually give you a large amount of capital to work with. they also have some great scanning software. their rates and payouts could be better though. as far as prop shops go, i have yet to find one that treats there traders better. i left to start up my own hedge fund, but if i were to return to prop trading, they would be my first choice.