to go with a broker/dealer prop firm or not

Just needed some advice on this, which type of prop firms is better to go with if you new to trading.

what are advantages and disadvantages

 

Advantage: Leverage

Disadvantage: Leverage

 

go retail if you can

 

understanding the difference between a broker, a dealer and a prop may be a good start.

 

Another disadvantage: they will run away with your money

 

the most important thing is to find a good mentor / teacher. if you have to figure it out yourself it will take you much longer and is much more difficult to succeed- if you have someone showing you the ropes you are more likely to do well by all measures, but then the quality of your mentor becomes the most important. if you can find a good prop shop that will teach you good methods without requiring capital contribution, that is the best case scenario.

 

Yes this true... i would love to find a mentor that I can deal with one on one but haven't found that yet...seems prop shops are the next best thing and all of them require some kind of investment (whether it be for training or capital contirbution)...i think 5k is reasonable as long as the operation is good and they care about educating their traders