Prop traders have to work everyday at what they do. However, a position trader studies a chart, performs some research and places down their cash. The rest of their time they can do with as they desire. There were some prop traders on here who marveled that they had made a barrel of money in 2006. However, there were also many position traders who came away with the same barrel and didnt use so much time. While the prop trader went to work each day sweating it out in front of a monitor, the position trader checked their positions once a week, hung out with friends and gained experience at their day job. When the market turns for the worst, the position trader can lie low at their regular day job while the prop trader might be out of a job. If the position trader blows up, then he can fall back on his day job bringing home a steady check. The prop trader is left wondering how he can construct a resume and may end up at the local car dealer. I have learned the hard lesson that daytrading and prop trading is for suckers. While there a few profitable ones out there who can turn a buck, its just a matter of time before things change and the "blowup" occurs. As I have aged in life, the lesson that I have learned is that things change absolutely. One year is always different from the next. Each year someone walks in through the door to say that your life has changed, not literally, but figuratively. When that time comes and the change has to be made, you dont want to be at a prop firm. Prop firms are the modern day bucket shops.