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well said....

i beg to differ.....position traders at wall st firms do indeed trade...quants are used primarily in the derivatives market (thought we were talking straight equities trading).....while positions are indeed "hedged" that does not make them any less of a trade.... btw, ltcm went down due...

it's really a matter of perspective/time frame/market orientation....if you're a scalper you have to trade more, if you're with a larger firm you're positioning for a longer time frame, adding to winners (hopefully) and building a position. to imply somehow that prop firms are "better"...

i would be very interested in discovering the trading firm retention rates...although the mitigating factors (why would a great trader stay and pay the bro, split the dough?) are likely to weigh against high retention figures.... what i'm trying to find out is, are any, all or none of these...

Of course, the prop firms as a whole prefer to subtly promote the idea that you don't need a sizeable capital base because there are a lot more potential "customers" out there with small dollars than big dollars, and salesmen can't go cutting down the size of their potential markets... i...

i thank you for your input....i like (or likely need) the discipline of going to an office every day....the comarderie is great and the exchanging of theories, ideas..discussion of finance, economics stimulates my creativity and helps to generate different trading concepts. i admire you guys...

re: real trader comment.... meant to be funny, ironic not insulting..sorry. :) mbs

trader 555, the fx market is tough to get into given the implosion of ccy mkt since monetary union-- thus significantly fewer players in the market, much higher volumes of trade concentrated in fewer hands...and proliferation of electronic platforms sponsored by the biggest bank and brokerage...

my experience is the firms hire ONLY top school mba/phd grads and those with internal connections.... trading experience is not particularly valued at jpm, gs, etc..they prefer new grads that can be indoctrinated into the firm's business by serving a rotation for the first couple of...

i can only speak on the fx market but traders ususally get a base of 100 to 150k plus health care, 401k, lots of other perks (many supplied by interdealer brokers) and are expected to make the firm 2 to 3mln per year for the bank. once the salaried level has been achieved they will get a...

nst, from nyc, living in jersey.... i've only ever traded my own money and am not set up, computer, hw, sw, access-wise to do the best possible job..... i was hoping someone might guide me to a firm that would allow me to use their facilities and some limited leverage (not interested in...

darkhorse, thank you for your perspective on my position trading question. in fact, i have been position trading for several years while working a full time job in financial services and have previously been a floor trader on the cbot where i did my share of both "scalping" and position...

sorry...LIM stands for logical information machines...they have huge dbs of equities, commodites, econ data...you can parse the data anyway you wish by the phrasing of your question... www.lim.com mbs

LIM has such software...including significant db of economic data and is used by loads of larger firms....a typical question LIM would answer might be 'since 1990 what % move has the S&P 500 made if the NAPM report is .10% from the consensus figure?' ...not that you asked but this type of...

thank you all for your input... i am trading my own money now in a margin account through csfbdirect...the execution is terrible...i often wonder if they know what a stop is, or a limit order...i've had fills outside of the trading range more than once and only a threat to complain to the sec...

thank you for the information. mb

new at this so hope u'll forgive any protocol slips... i would like to position trade equities for a firm...i have been doing so for several years for myself (2001 40%, 2002 25% thus far)...i do not normally daytrade (unless i have a windfall, in which case i take the profits) are there...