My only other advice is to look past the "deal." Are these really people you want to do business with?
There is absolutely no way that this (moving from WI to NY to trade prop) is a good idea. If things go to shit, you have an established social network, plus vastly reduced living expenses. In NY? You's screwed in no time. You trade alone now: your successes and your failures are your own. In a prop environment, EVEN IF YOU SWEAR TO AVOID IT, you will become a BSD and rather than focusing on the process of your trading (and once or twice a year, enjoying the results), you will be one of those results-focused idiots who then can't manage their way out of a wet paper bag, cuz it'd put a hurt on your results, dontcha know. The most valuable thing you've got going for you is not your technique (which you realize now you could teach to a monkey or an enthused 12-year-old), but your head, AND your head-space: your immediate living environment. You screw with your environment, you screw with your head. Screw with your head, and at the first wrong trade, your doom is sewn. Do NOT screw with it. (If we're voting. We votin'?? No?)
Interesting points. And yeah I meant to make this a poll. Anyone know how I edit the original post to include that? Sorry, I usually lurk but I just made an account to ask this question. I'm an idiot with these forum tools still.
%% Sorry ;i dont trust polls unless its IBD paper or IBD online. Baron ''feedback'' can tell you how/polls; but i dont trust most polls.Keep looking for a remote ; new edges come+ go in the market. But sounds like you will NOT enjoy a noisy group setting-i seldom do.
To add to this, I would say the only way I'd make this trade is if the expected payoff is significantly higher than what I'm making now. So for me, that would mean that I should be making from $190->$800K-1 million in the year following. All the changes necessary personally, professionally, wouldn't budge for less than that IMO. Also I have no skin in this game so take that for what it's worth!
Doesn't seem worthwhile to me unless the idea of moving appealed to you for other reasons, it's basically upending your entire life to accelerate your earnings curve by a few years, when you are already making decent coin. Much of the gains would be consumed by higher CoL and taxes, and many issues can crop up that would make the increase in PnL lower than you expect - due e.g. to lower strategy capacity constraints than expected, psych issues from larger size or from trading with someone looking over your shoulder. If you looked around I'm sure you could find a similar prop deal that will let you trade remote.
We do not have prop firms where I live and that might be the reason I simply do not understand how running a prop firm can be a good business. I assume the prop firm requires that you cannot continue to trade for yourself if you join them, correct?
it very much depends on the dd of your trades. if the dd is very low, you have very low risk playing your own money, you can simply scale up yourself, why work for others?