Please Jackbyrd, Lay off my nuts. You are following me around like a groupie. I bet you have my nick posted on your wall with all my quotes underneath. Lets just stop worshiping coolweb ok? Deal.
I'm just giving prop traders the benefit of the doubt , since they are actually doing it "professionally" So the number is much lower? Few months ago Steve T. Mentioned half the traders in his jersey city firm was making $10k+ a month or something. Must be the most successful prop firm on the east coast
Say if a prop shop hires 10 traders it is expected that 1-3 will become successful traders. 1 "star" trader 1mm+ 1-2 average to good traders100k+ the rest are expected to either get fired or quit within their first year and a half. If you are interviewing at a prop firm find out the success rate of their traders as well as retention rate( traders who stay with the firm more than a year).
Certainly not half but there are a bunch (at least 9-10 guys out of 40 in my group) making between 100k-300k a year. So averaged out, thats 10K+ a month. But thats only in my specific group. There are a bunch of others group within my firm and I dont know how well they do. I do know of at least 2 guys in my office that are up somewhere in the neighborhood of 1 mil for the year but thats extremely rare. I am sure the majority of the guys arent making any real $$.
where? at hold bro? i checked that joint out a few yrs ago, ... looked like an arcade... really packed.
Yeah. I work for group within Hold though (cant say the name here though, ET policy). I dont know what kind of money the avg guy in Hold makes. Its not really that crowded, maybe it was moreso a few years ago but I feel like the trading floor is pretty comfortable. They also opened up a midtown manhattan office recently so some guys went there (Im in the Jersey City location).
I'd say that was a fair stat for our office (trading futures) At the extreme the big boys will play with 2000 contracts a time for trades lasting a matter of minutes or seconds. The top guys in various london company prop shops can consistently make £100k a month after costs - but that's pretty special.