Nope. You are not understanding the relationship between trader and prop firm. Did you pick up the latest issue of Trader Monthly? They have the new 30 under 30 issue out. The up and coming superstars. Take a guess how many of those guys trade at home alone? Just take a wild guess? Pick a number, any number. Yeah, sure you can eek out a teacher's salary staying at home trading your small account. Most traders aspire to more. Most traders want to take their talent to the highest level. That is freedom my friend. And it ain't going to come sitting in mom's basement in your underwear making just enough money to cover your Honda Accords car payment. LOL.
I strive for consistent mediocrity. I leave you to tend to your under 30 yuppie 'superstars', high blood pressure and ulcer.good luck
The problem I see with your theory is most rookie traders aren't trying to go prop. I would speculate that most rookie traders don't even know what a prop shop is. And veteran traders? Why even talk about them, they don't exist. I'm being sarcastic of course but there isn't really a large pool of them to really even talk about. Even the best/veterans have blown themselves out because they missed something or overlooked some critical piece of information. The prop market would then be the average/above average group of traders. Who have tested a few things out and feel some leverage would give them an edge. So in other words, people go prop because they want an edge! How do you get an edge? Leverage, training, ideas, insight, experience, etc. Can you get training, ideas, insight/experience working in an office? I would argue that you could if you have the right team. Lets say you work with an ex-floor trader, and institutional trader, a market maker, a veteran option trader, etc. You get a group of the right people together and you can really create some serious synergy. I don't care who you are, you probably haven't experienced the market in full, even if you've worked in it. You might have extensive knowledge in a few areas, but unless you are George Soros, you are still learning. Again, I say that sarcastically as I'm sure even Soros is still learning. And I don't care if you think you are in the top 5%. There are people out there that know more than you in certain areas. And you could definitely benefit from spending some time with them. So why not?
Yes, and setting up a LLC with personnel that you choose to work with is by far the best model I have ever found, and in the end was the best choice I ever made.
Don't have it but how would one go about finding any traders who trade from home who would fit in to this category ? What are the requirements to be in this class ? Just curious how you commute to work and how long does it take you ?
maverick maybe the greatest day trader of all time trades from home and his name is dan zanger. 11k to 42 million in 18 months from 1998-200 documented 300,000% or so. show me any trader alive who's made 300,000% documented. he trades out fo his condo in miami and on his yacht
Don't get me wrong, there are plenty of benefits to trading prop. Hell I wish I could go back and pay Don a grand for their class instead of paying 100k tuition to the market during my learning process.
Guys....this is so obvious a "both answers" are ok situation. I myself, and I am sure others are not dependent on being around others to make fortunes trading.....if you are that would be a weakness. If you like to be around others then that is just fine.....no biggie. Also, if a prop trader has some automated systems operational it would very much be in their interest to set-up at one of their props offices (for tech support, or improved connectivity, etc). Both options can work and very well actually.....that part is all in the hands of the trader.