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So I googled "forex is a scam" and "forex is a fraud" and came across a lot of interesting articles. This trader was up 500% with an FXCM demo account. He then opened a live account and then lossed around $20,000. You can read the court document here, he sued FXCM sighting much wider than...

I don't think that is what he was implying. I think the point was, you have a higher chance of profitability in a group and the data he specfied was to support that statement. This statement was the same as what Cash said and what others said. As a whole, you have better odds in an office...

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...

Nicely said. By the way, out of the top 30 under 30 traders, how many did trade at home (remotely)?

What would it take for Bright Trading to open a prop shop in Dallas?

I believe Austin has a couple of prop shops? The thing about Dallas is the prop trading market is basically untapped. The cost of living in Austin is a lot higher compared to Dallas and there aren't as many financial firms in Austin as there are in Dallas. Cost of living plays a...

That's an excellent point. Let me add, if you truly enjoy trading and intend on being great at it, there is no greater feeling than being around others who share your passion. You read books on it, you pour over news and information on it, over time it's almost all you know or can think to...

Well based on your numbers, if you make $80k on the front side, and let's say just $40k on the backside (a % out of profits) to be conservative, that's $120k a month. You could hire one hell of a staff. And fly out top instructors to give lectures every single month. You could then justify...

Here is the thing though, if your intention is to open a prop shop, and you have to choose between having your traders trading remote or in an office, which method is more secure for you and your firm? The branch location right. Because you can walk around and monitor things, discuss ideas and...

That's true, a lot of people don't know what a prop even is. Especially if they don't work in this industry.

Do they exist? I am hearing that some prop firms will have you sign a contract stating that after you leave you cannot trade for 3 years at another firm. Which kind of negates the whole point of going to one prop firm for training and experience before going somewhere else for a higher...

Well assuming that did happen, couldn't I say I just did it to get additional experience? At which point, what would they say? I work in the finance industry. I could see if you are a Doctor and you did it. People would then question if you really want to be a Doctor or not. If your heart...

I would be interested in a prop shop in Dallas. Maybe bright, echotrade, schonfeld or anything really. If you can't get some of the top props, I would take anything. Just look at the Texas Traders thread. http://www.elitetrader.com/vb/showthread.php?threadid=54484 It's one of the...

I read on this board that going prop is a resume killer. Why is that?

If you go prop, and put up $100,000 and start trading and the firm goes belly up, aren't you also liable for general losses? Meaning you could end up oweing more than $100,000?

My firm has scheduled me to take the NASD Series 55 exam. Has anyone here taken the exam? What test prep materials did you use and do you have any advice on passing the exam?