The Perfect Prop Firm

Discussion in 'Prop Firms' started by Maverick74, Jan 20, 2012.

  1. Maverick74


    OK, so let's have an open forum here where you guys give me your vision of the perfect prop firm. What "exactly" do you want. You can be as greedy as you want to start then we'll start widdling it down and prioritizing what's more important. How about it. Who wants to go first?
  2. Ok, let's dream. A company that aligns trader and company visions. Makes most money when traders make money, has sensible distribution of runing costs to traders and runs decent trading programs after filtering out people. Obviously baseline must be in place (enough capital, "serious" business not running funny games in accounting).
  3. Perfect Prop Firm = WTS.............................j/k

    WTS has great rates, execution, software, etc but lacks a bit in customer service. so I would say that here's what I'd like to see:

    100% payout....none of this 80/20 bullshit.
    the excellent customer service of Capital Traders Group
    The experience & wisdom of Bright Trading
    The low rates and excellent fills of WTS
    exposure to strategies (even though once a bunch of people use that strategy, it's useless)
  4. MBC


    Knowing exactly how much you can lose, so you know where you stand.

    Its sort of like taking a trade with no exit, nobody knows where we are going. If you know your loss limits you can trade or execute strategies with confidence, other words risk management, risk management , risk management.

    All the other fluff about location, views of a city, charts, platforms take second seat for me...
  5. ..................................


    you already know the answer to your question.........:)

  6. 40 to 1 leverage, reasonable commissions, decent spreads, 100% payout, I think Interactivebrokers already offers that to forex traders.

    I share enough with the government, why do I need to share any more with you?

    Prop is for traders who have a 20% system but not enough money to make a living full time.

    If you don't know what the hell you are doing put up 25k of your own money (or most likely Daddy's money) and get an education.

    By the time you blow through daddy's 25k, at least hopefully you will know what the hell you are doing.

    Prop trading is nothing more than a pyramid scheme. Where are all the prop traders stating what a good deal it is? They're not here unless they are selling something.

    All you ever hear is salesman trying to get novices to fork over money because they don't know what the hell they are doing.

    If you don't know what the hell you are doing, starting with a prop firm is probably about as good and hopefully a little better than you would do starting on your own.

    But if you have 25k that you earned yourself, you already know what you are doing and you don't need a prop firm anymore than you need a book telling you how to buy real estate or set up an internet business from home.

    If you have a good system and all you need is more capital, that's when you go and give some of the profits up to a prop firm.

    otherwise, trade forex, that is the place for the little guy. 40 to 1 and 100% payout should be more than enough no matter how small you are.
  7. VinMan


    First and foremost is honesty

    1. reasonable fees
    2. reliable software
    3. a trader chat room with no additional cost. Bake it into the commission but a fee is annoying.
    4. the trader room run by a real trader with a scalable strategy
    5. reasonable leverage
    6. good education, even if there is a cost must be worth it
    7. sense of community
    8. easily accessible service (calls/emails/IMs)

    No nickel and diming for fees on millions of little things.
  8. MBC



    Now all we need is a couple good "systems" and deermine when and how much to allocate to each

    Do you agree a "one system" dependence could be ruin ? Nothing works all the time, need filteres to tell you when odds are best to use one or two over another ?
  9. mavericks a good sport, I don't want to mess up his thread, we're talking about that on another thread, go over there and talk about it, we've said our piece, let's give it back to the prop traders.
  10. Maverick74


    Let me stop you right here. You can't have both low rates and no profit give up. The prop firm has to make money. If you had to choose one or the other, say trading at zero cost but giving up a decent split or keeping 100% of your profits but trading at much higher rates, which one would you choose?

    BTW, I'm speaking more about actually working in an office vs remote but we can address both.
    #10     Jan 21, 2012