The Realities Of Prop Trading

Discussion in 'Trading' started by larrybf, Nov 1, 2003.

  1. has anyone ever written a book or in depth arctice discussing the realities of prop trading? i ask becuse based upon what i have read on elite trade these past 3 years it seems like one of the highest risk and lowest reward deals around. i gotta be missing the boat on this one!!! please someone point me to a book that sheds some light on the subject.... thanks
  2. Daryn


    Yes you are missing the boat.......I would venture to say the ratio of happy prop traders to whining prop traders is 100:1

    It's just like any other business deal..there are risks and rewards. Sometimes things work out sometimes you get burned and sometimes you decide that it's just not for you. So far for me the rewards have far outweighed the risks and I know many who feel the same way!

  3. daryn.... that is great... however i am looking for a book or other info where the good things about prop trading are detailed.... any clues for me?????
  4. Looking for a Book.If you are so Interested in finding out about Prop Trading.Pass your Series 7 and find out first hand for yourself.If you wanted to learn to ride a bike would you buy a book about it first.Its something best Experienced first hand,what works or doesnt work for a Author isnt the same as what will work for you
  5. read marketwizards or maybe pit bull. those are stories about trading but not sure what you mean by prop. there are different styles of trading from swing or scalpe or etc. you sound foolish saying high risk low reward maybe its not for you. you need to love trading to be a trader like a athlete loves his sport. you also need to be real in what you want to make in the market, most traders don't get it who fail. they trade to make a million in a style that traded right can make you 500 to 800 a day. i am not saying you can't make a million but you need to start somewhere to learn and get that opportunity.
  6. Ebo


    Ya gotta love this!
    This bafoon has posted 472 times and is first looking for a book on daytrading? Does BF = BA FOON? Lemme see.........there are about 200 books in Borders. And then lets search on Amazon for some results if you are a hermit and can't get away from the computer on a sunny day to look for girls and books at the bookstore. Common man,
    just this website alone has the truths and kvetching of over 1000 real live daytraders, some good ones and some not so good ones. Who even needs a book. This is the real deal on Elite Trader. I may never leave the house!
  7. The Reality is that there are many traders who are truly profitable over the long term and these traders should not be in a prop firm because this just ends their trading career faster. In my humble opinion all a prop firm allows you to do is compound your trading results at a faster rate (good or bad). Most traders bitching about prop firms can't trade profitably in the first place.
    Cheers. :cool:
  8. So the guy asks a straightforward question and all he gets is a bunch of prop monkeys yammering out their backside.

    That ought to speak volumes to you on trading prop, Larry. It's an abyss of nonsense, cliches, and doublespeak.

    Btw, someone mentioned Market Wizards and Pit Bull. Curiously enough, you won't find a single prop trader mentioned in either of those books.

  9. I don't understand why you say this!

    I trade "Prop" for the leverage, I can only keep $15,000 in my trading acct and make a living, I get paid 100% of my profits. I have considered retail but when you buy bullets it eats up all your buying power if you use many bullets.

    I calculated for me to trade retail i would need about $200,000 so i can do exactly what i am doing now without having to concern my self about buying power.


  10. jeffgus


    You have explained the best use of a Prop Acct. The capital held with your firm should be just a deposit against draw down. If your acct swings because of your style than a larger deposit is required.

    I have a second acct that I use for income and write premium for monthly income and keep this as the largest acct. No need for 200K in a day trade acct. Put that money to use and grow that second acct for wealth. Live off the day trade acct.

    It is a numbers game if you have a plan, an edge and discipline.
    #10     Nov 1, 2003