I realize some have none. Would appreciate input on this ... Am particularly interested in offices in Southern states. Thanks
gimp, Your response is a marketers dream. You have never trader there and have not had their training yet through years of Don telling everyone how great his training is on this site you automatically responded with something you know nothing about. Good job Don. You now have a masters in marketing. Your next community college subject to teach.
You know I am not sure I see the benefits of Prop Trading. In general, they tell you how and what to trade, especially if you are using their captial. I have always advocated trading your own account is exactly what it is all about. Answer to yourself not the PROP FIRM. There have been a lot of people who had issues getting their money or excessive payout percentage agreements. It's a draw. I think its obvious being the Boss is the Best no matter who tries to convince you otherwise.
A reputable (no money down) prop firm is good for someone craving success. You're able to put on size quicker than your own account, the company is 100% liable financially, you get to say "i work at", you get to sit around other traders, you get training sometimes, you have an IT department, you generally have top quality equipment/resources etc etc etc...
Yes, I understand some people need to have others show them how it is done. It's kind of a high school mentality or a sheep philosophy, "Trade Like Johnny cause only he knows how to be a Big Trader". Most people do not have enough confidence in their own intelligence and think everyone else(Prop Traders) only have the solution. Additionally, beginners want to start out with no money or better yet learn on someone elses dime. If your goal is only to be as good as someone else then by all means follow the crowd. I keep reading articles about Prop Firms going down and taking the money too etc.....Dont get me wrong their are some prop firms that are most likely legit. I just dont subscribe to the fact that because you trade at a Prop Firm that you are better than me or any other Trader. P.S. I dont care how much leverage Prop Firms give. Prop Firms mostly market Leverage so you join up and trade, remember they get commissions off your flow, that is their incentive. Why do they care if you crash and burn, they get paid either way. All the leverage in the world wont make you a trader, that is inner strength.