I'm an experienced trader who has worked at a prop firm for 7 years. I'm tired of the meager bonuses that we earn (a discretionary bonus based on the firm's overall financial health instead of a % of profits) and need to move to the next level. Does anyone here trade for themselves at a firm where they have access to capital and/or margin? If so, how has the experience been, can you trade remotely using their services/software etc.? Please feel free to supply the website addresses of the companies. Thanks
There's tons of them, and lots of guys here trade at them. Do a search on 'prop firms', should keep you busy reading for about a month.
Better a bit late than never. At least two of the more reliable firms (and there are not many if any left after that) pop up straight in mind ... do a search in ET and the first one will come up straight at you, after all its master spin doctor is always online helping, amusing and enlightening the audience. It should not be long now
why don't you trade from home home, instead of at a prop firm, i've never understood why successful traders will give away a chunk of their gains unless their trading an instrument where you need massive amounts of cash
Hey texastink..I tried to email you through the site and received the message "this user does not accept emails through the board." Whats your address or can you turn that option on so that you can receive emails through the board? I appreciate the help! Thanks
The entire reasoning for trading with a prop firm is the use of capital and the small trading fees. Getting a round trip of one buck per side regardless of size.......(add ecn fees/rebates) and massive BP for 80% payout is the reason of going prop. The payout percent can be improved upon as you learn how the industry works and where funding and BP and groups and software trade from. Going retail means at minimum 4 or 5 bucks a side at the cheapest with the volume I do. Being able to decide to exit using ARCA makes 1k shares round trip for only 1.50 today. How can you compare with that. There is definitely a benefit to prop. Everyone should figure out there trading style with a fee structure breakdown and then find the setup that will return maximum dollars for the number/size/volume of trades.
Thanks mce. Do you know of any arrangements that allow for shorter term equity trading, meaning positions that are held anywhere from 3 days to a few weeks? I'm not a day-trader, but mostly trade equities and options on a short term basis. Obviously, the margin attainable must be much less for overnight/short term positions as opposed to strict daytrading. But that's what I'm trying to find out....who will offer it, and how much is offered, if any. Thanks.
Try this....sounds like you have a friend in a similar situation. Good luck in the search. Make sure you check out the list JMowery1987 put out....seems to hit most of the firms...then simply enter the name of the firm into elite and read the comments. Enjoy the reading. Do the diligence.