I think the problem here is the word prop has too many meanings. Any account that is not retail at any firm gets labeled prop. It doesn't mean that the trader is getting 500 to 1 margin or it doesn't mean he is putting up no capital. It just means that he is trading out of a prop account, not a retail account. There are also tax considerations regarding both.
Yes, We do run our segregated business through Guy at SpeedTrader and also run futures business through Refco.
ertrader traded with some of the best in the business back in the day. he is experienced and qualified to make his opinion known. what firm are you refering to , dr. Z ?? best, surfer
I have run business through 3 different NASD broker/dealers the last 3 years. Two of them still owe us commissions and have changed their deal in the middle of the contract. Guy has paid us on time each month, runs his own frontend platform and is available anytime we need him. That type of service is what matter to me and my accounts that trade through him. We do not do a ton of retail business, but do send over some self directed traders who want segregated accounts. I also refer accounts over to a different broker that clears Penson, and when the specific business needs specific rates and tickets, we refer them to the operation that can deliver. That is the only problem with this forum. The shit that is spread over this site really does not improve the trading ideas or make you or I any more money. We should get back to those think tank forum that make us money or increase our probabilities on the trade. That is worth more time and effort than 'talking shit' about the competition. Make love ...not War
I'm referring to Greentree of course as was ertrader. The title of the thread refers to Greentree, is there some confusion here? ertrader is welcome to express his opinion here just like everyone else. However in this case his opinion about Greentree's proprietary futures trading group was misinformed. He was obviously speaking from a stock shop perspective. My response to him was an attempt to correct his misperception. Though I don't blame him for his thoughts on what he perceives to be prop shops, especially considering some of shysterâs who have been involved in day trading stock shops over the last decade or so. There have been some fairly unsavory characters on the scene. It's a shame really. And I empathize with those who have been unfairly screwed over by some of these outfits. Regards,
Don't get so defensive. I see your point - if its good - then its good. I wasn't talking sh*t at all, I posed a question and you answered it. I made sure I do not say anything bad. Otherwise, hope is all well with you . All the best
I suppose i can put in my two cents. I was one of the first traders to start with greentree over a year ago and i honestly have nothing bad to say about them. They have had there ups and downs but the truth is any new business trading related our otherwise has there ups and downs. To me if you actually look back when greentree started they have done very well for themselves. They have a nice business model and decent amount of traders for not even making it around the block yet in this industry. The managment team are all nice guys and very educated in the industry. The truth is if it werent for Jeffgus and the rest of the managment team i probably wouldnt still be trading. One of the first questions in this thread was has anyone taken a payout? Yes i have and the checks dont bounce Instead of talking smack about some firm you dont know much about, ask the traders that have been around the firm forwhile. Dont waste your time with unprofitable traders, no matter what firm they trade for they will have bad stuff to say about them.
Bitter about Prop, never, i mean i was with Schonfeld during the "good ol days of intraday momentum trading". I very thankful that Steven had given me the opportunity and if it was not for schonfeld, i would not be were i am today. as for the following: If I can expand; we have traders that have ZERO capital up and we participate in the profit and loss of their trading. We also have traders who are supplemented with extra leverage and we have additional traders who contribute there in own capital and take the P/L of their trading with the advantage of market making leverage. Sounds like to me, you guys are just casting a net to survive the PROP id. Traders who provide ZERO capital, i would guess, make up a very small % of ur traders. Im sure the majority of you "clients" are retail. So dont try and bullshit by stating that UR MODEL is unlike the many others out there....I call bullshit on that. There is nothing wrong with ur model.....and ur in that in of the business to be the HOUSE...so.....go and bullshit others......you cant bullshit me. This is not being mad or bitter, its just I call have the balls to call bullshit when i smell it.