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True prop firms do not take customer deposits.

I wouldn't deposit a dime in a shop that has customers and also trades it's own accounts. CONFLICT.

It's true, 95%+ fail in daytrading. But the minority consistently makes. It's akin to professional sports. Same goes for investing.

take an ethics class

this will all end bad. Current structure of bailout assumes only a 1% drop in GDP. Just kicking the can till the stuff finally hits

As long as it isn't your spouse, you are ok.

Depends on the structure of the LLC and how many partners you have. To keep it simple, a single member LLC your personal assets are at risk. If you have a 2nd partner who is not a family member, then your personal assets are not at risk. If your LLC is sued and the judge discovers that...

when VIX was 60-90 back in 2008, i had a strategy to simply scan market imbalances at 3:40. if the market was up big for the day, i would just buy the largest buy imbalances and short the largest sell imbalances on a big red day in market. it was really a once in lifetime type of market where...

Agree. ML clearing is the worst.

I have heard daytrading is over since I started over ten years ago. Last 6 months of 2011 was a great daytrading environment. 2012 so far has been horrible. Every year, there are few months that realy suck for daytrading and then some great months. Everything else is just average. Having...

markets go up cos the herd isn't long. that changes and markets top because the herd didn't sell. markets go down cos the herd didn't sell. that changes and markets bottom because the herd didn't hold. what they're not doing is found in many overlooked patterns. esoteric t/a wastes it's...

During a bull/bear cycle, a strategy of fading patterns will have it's time. In fact every strategy has it's time. What makes market seem "random" is that it's musical chairs and shuffles patterns based on what the herd is not doing. an example is breakout patterns may be working for weeks...

first, no pattern works 100% of the time. having said that, reason why a set of patterns will work is that at a particular time in the bull/bear cycle they symbolize what the herd is NOT doing. this is called 'trend'. but it is musical chairs and the trend finally ceases once the herd flips...

i have been trading for over 15 years with my share of ups and downs. i have concluded that no one is smarter than the markets for any extended period of time. the key is to assume you really know nothing and just take low risk/hi reward trades with the assumption that the trade will fail and...

Dimon. Is that even a real last name. Doubt it.

firms can simply hire traders as employees. otherwise, prop firms will move to portfolio margin if payout limits are enforced and still pay out 100%. many more "prop" groups and individual traders have left jbo over the years to CPM. jbo is outdated, 1 year lockup, regulated, compliance...

What typically happens is this. Profitable traders who are undercapitalized in their first decade of trading who don't have much in their bank accounts go the profit split & backed trading route. This is a good way to start a trading career. These places typically share % split on a...

I know quite a few backed groups in NYC with a profit split with traders managing multi million dollar books. and none of the legit places charge any kind of thousands of dollars/month "desk fee". That's like paying taxes twice.

mostly sector commodity and index ETF's. my biggest trades of the year were on silver (slv). i scored nearly 20% in 2 days on a silver short in September followed by a long and subsequent 15% squeeze. my strategy does well in high intraday volatility as we had from sept to dec. i traded most...

I trade prop strategies. First 7 figure year since 2008. 80% of my profits were made in the last 4 months of the year.