Trading Firms in Los Angeles, CA

Discussion in 'Prop Firms' started by whitetuna, Feb 23, 2002.

  1. Hi everyone, would anybody be able to tell me the names of some good trading firms in Los Angeles. I'm planning to move there in the summer and wanted to join a trading firm. Please let me know what is good about any particular firm.

    Thanks a lot!
  2. Can't resist. :) We have locations in Arcadia, Pasadena, Westwood, Long Beach, and Irvine...all in the L.A. basin.

    Feel free to call with any questions.
  3. It's hard for me to call you while I'm at work normally and talk about this kind of stuff so if you can respond to some of my questions by email, that would be perfect. One question is what do you have in the way of mentoring and teaching of new comers like me into the trading world? I'll send u my resume just to show I'm serious about switching. Secondly, how much do I have to put up in capital? What kind of commission is charged? What is the percentage profit I can keep? Anything I can do to prepare myself better to maybe shorten the learning curve?

    Thanks for the help! :)
  4. 100% profits, under a penny a share, training is ongoing (5 day course to begin with, monthly day long "advanced" courses are recommended - all free after the initial visit of $1K). Same entry money as other firms, even retail $25K (some special circumstances may determine a lower entry).

    Most of the info is on the website, and I am in the office usually until 5:30 ET if that helps...or 8:15ET in the mornings.
  5. I noticed that Echo says there are health benefits for its traders. Does Bright have that too? Is that an extra cost tacked on to the $400 desk fee. Thanks once again. Happy trading!
  6. Don,

    Does every rookie trader or applicant have to take the $1000 seminar as part of the recruitment process?
  7. Not really, but since we have about a 3,000% better success rate with new people, we recommend it. If they lose money right away, then we strongly encourage it. It's like any business, there are certain things you should know before getting going. I can't see why anyone would balk at it, but you can get a "waiver."

    We discuss a lot more than just strategies, we discuss the whole business, and help get people going in the right direction.
  8. If you are going to hire somebody why don't you train him free of charge ? When prospective traders get to the seminar stage are they already hired ?
  9. Trading at this level is not a "job" - it is a profession, a business if you will.

    As in any profession ( I started out my "life" in public accounting), this required several years of school, many (to darn many) "seminars" and workshops and continuing education. All of that cost me personal money (and I only got paid a fraction of what my firm was "billing me out" at.

    So, getting involved in this business requires some minor expenses...and even some initial capital....with a very limited "downside" and an unlimited "upside" we use the training program as sort of an "orientation" as well, and they have a better idea as to whether this is for them or not. We aren't in the "school" business per se' since we use our training program to help potential traders (as it turns out, it may help traders who trade elsewhere as well).

    Look out for the "we will refund your $$ via reduced costs, and all of that" I think Block Trading used to do that...charge $5,000 for some training, and then give them $5K "off" of real high fees....there are a lot of these things going on. We keep the barrier to entry very low, and look for people who do their homework....

  10. Excuse me Don, but how can you expect to attract intelligent new people with this kind of business practices. Every savvy job seeker knows that there is a golden rule: you never pay money to apply for a job, period. Companies that ask you to pay a fee are most of the time snake oil. So unless I am an experienced trader I would not want to try to get into your firm.

    you state :"getting involved in this business requires some minor expenses...and even some initial capital....with a very limited "downside" and an unlimited "upside"

    $1000 is not a "minor expense" when you just look into a profession and professional trading does not have a "very limited downside" risk.
    #10     Feb 25, 2002