"True Proprietary Trading" Defined

If anyone wants to see more than the basic abstracts, let me know.


http://www.traders.com/Documentation/FEEDbk_docs/Archive/042001/Abstracts_new/Bright/Bright.html

http://www.traders.com/Documentation/FEEDbk_docs/Archive/062001/Abstracts_new/bright/brightpro.html

Here is a more detailed draft of the second article.

http://www.stocktrading.com/protradingarticle5.htm

And, btw...Almost all firms disallow overnight positions. They limit the securities you can trade, and they will force you out of positions when they like.

That statement, when true about many small (mostly unlicensed) firms, negates nearly all the reason to trade professionally. Our traders carry $millions of positions home on a daily basis. Pretty hard to engage in M&A, pairs trading, etc. if you can't carry long term positions.

As with most things, there are good firms, and those that engage in those kind of silly practices.

(Read the 2nd and 3rd link for some more info).


FWIW,

Don

 

"Prop firm as it's most often used on this site doesn't really refer to anything proprietary. It's just like you stated, the trader puts up money and gets leverage, good software and sometimes nice perks. Retail on steroids basically."



Probably best to start an incubator hedge fund, rather than do prop/"Retail on steroids" route, if you really want to establish a track record. That way you have control, and avoid the blood suckers...

 

Good read. Stuff like that is the reason I'd suggest your firm <i>only</i> to a serious new candidate, rather than what I became familiar with years ago.

 

Thanks!! Always nice to hear some positive things on this board.

All the best,

Don

 

nobody wanna give me an answer? from what i´ve read here so far, prop firms only offer trading stocks, what about futures and options trading? any prop firms in that business?

 

Talk to Maverick at Vtrader in Chicago. You can search him on this site. I believe they offer all three to experienced traders.

We offer futures and options, but only under very precise guidelines and experience levels. Stock trading is generally much easier, IMO.


Don

 

Don, did you just give me a plug??!!??!?!!?!?!

 

Damn! Someone must have grabbed my keyboard while I was at lunch, LOL. Notice that I said "experienced" traders....as you told me, your guys have a lot of experience with futures and options.

Don