Transition from Retail to Prop

Discussion in 'Prop Firms' started by lnypng, Sep 16, 2005.

  1. lnypng


    I have been trying to get out of the retail side of the futures business and go somewhere to prop trade, but have hit some resistance. I started as a runner on the floor of the CME and slowly worked my way up trying to learn as much as I can, got my Series 3 & 7, studied any tech. analysis I could find, and now assist some hedge groups dealing w/commodity futures/options where I also developed some successful strategies for some spec accounts of ours. I trade an equity options acct for myself when I can, but am limited because of time and responsibilities with my current job, not to mention I get killed on commission. The bottom line is that the firm I work for now has no interest in developing a trader, and the prop firms I’ve looked at think I either have too much experience to join their newbie programs or not enough trading experience to be hired as a trader. I’m in a catch-22 as I need to trade to establish a track record, but can't trade without one. I would go to some arcade to trade but my current compensation still leaves me woefully undercapitalized to cover bills while I set up at an arcade. Does anyone know of anywhere in Chicago or remote trading, that trades futures and pays salary w/ split? I would even be willing to take what most would consider a lousy deal just to be able to make the transition! I love trading and want to be able to devote my full attention to it, but I just don't know where to go from here. Any advice anyone can offer would be greatly appreciated.