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It's become abundantly clear to me that some people on this site just feel the need to contribute absolute garbage. This moron above is a perfect example of the retardation I'm speaking of. Every B/D I've ever heard of is SIPC insured.... That would be the government. They only put this...

No matter where you decide to go NEVER give anyone your money without them agreeing that when you leave you, no matter how long you're there for, you take home all money owed to you depending on the split and 100% of whatever is left of your deposit immediately. There is no valid reason for...

A prop firm typically pays between 50 cents and 1 dollar per thousand. Anything more than that is pure profit for the firm. So what may seem low to you is still making money for the firm. All in prices are common practice and actually used to be the standard. Firms also get large...

Order flow is an antiquated way of trading, it no longer works because there is no more institutional order flow on what's left on the floor of the NYSE. The key to trading off of order flow was trading off of what the Specialist was doing. There are no longer any specialists and the rules...

One last thing..... The only reason that firms use Training Fees instead of risk deposits is to avoid trouble with the SEC b/c they are running a group of unlicensed traders in a fashion which is frowned on. Chances are that if this firm is using a training fee to accept money then they are...

I just wanted to write a little blurb here about Prop Trading/ Intraday Trading Firms and how to select one that is both good for you short and long term. Some background on myself is that I've been trading about 15 years now, 10 in equities and 5 in fixed income/credit default swaps and...

Depends on the firm.... If it's a First New York or Schoenfeld type firm where you are trading their money and it's a competitive barrier to entry then I would just write a thank you email. If it's just a normal arcade style prop firm where there's either a deposit or training fee required...

Longhorns, I've been trading for a long while in multiple markets and have experienced many polar highs and lows before settling down and becoming a month by month consistent trader. From my experience, as someone who almost put himself out of this business multiple times, expect to lose...

I was contacted by Trader Capital a while back...... They told me that they wanted 2,000 dollars as a retainer in order to "market" me as a trader. I spoke to Elie and he told me that with the 2k they would put together a book on me and raise capital from outside investors. Apparently that's...

Hey, If you're going to use hold, assent or any other shop that does most of their business clearing short term trading then make sure you go directly thru the clearing house and not with a sub group that uses the clearing house. Not only are you paying more but your money also is not as...

Myshkin, My acct with GS is a little more complicated than what you'd be looking to do...... I have a relatively small fund that I use them for and without going into more detail I do fit the requirements but that's just for long term buy and hold trading. When I was talking about going 4...

Every day trading firm accepts capital.... it's just masked as a training fee. Aside from the larger houses that are true prop you would be hard pressed to find a firm without a "course" of some kind.

If it was so great then why did you leave? Not meant to be posed in a sarcastic manner, just genuinely curious why you would have left a firm that's so great to trade at home

There commissions are ridiculous..... 10 dollars per thousand from what I've heard from traders that work there.

Myshkin, Yes I wouldn't trade at firms like those..... Some people gain enough from these firms to justify the teaching fees and overbearing commission fee structures. The one thing you have ot think about is whether you want to be with the firm down the road b/c paying much larger...

Limitdown, Not sure exactly what you're trying to say in your post..... Who are you referring to as a manager and trader? And who is wasting time on you?

Any kind of "arcade" type shop you go to will require a deposit around 5k..... some more and some less. If you are deciding between these firms I'd suggest you go into their offices and spend a day. Make sure that it's a style you're interested in learning and that there are atleast a few...

that's schoenfeld now right

what's popus?

DT3, You're correct in what you're saying..... However you can learn the exact same information from some of the top traders in the world for a small fee each month via the internet. These sites have loads of instructional videos on every topic and have multiple traders in chat rooms all day...