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I own and run a prop firm. When the term is used wrong, I find that it confuses people. It is a lot like calling a janitor a sanitation engineer and then thinking that all engineers are also janitors. :D Although I have to admit that during my first year of trading, I would have made a lot more...

How much money are you expecting to manage? You might consider setting up an S-Corp and then treating everyone as officers. You then have the benefit of more favorable tax treatment and a clean tax bill. That all depends on the size of the account.

How are they getting rich? They they get pre-con prices and are flipping or are they just going on about how much their house is worth? If it's the latter, then they are not getting rich unless they are selling their house on Miami Beach and are moving to Iowa. The run up in primary home...

Again, it is not proprietary if it is your own money. You are referring to a customer shop.

2 19" 1280's hands down. Besides, you would have a backup in case one goes and you can also dedicate monitors to specific things. There is almost 50% more real estate using the 2 at 1280.

Futures do not generate the commissions that equities do. Assuming that it is a true prop situation, the firm can only mark up exchange fees by about 50 cents or so per roundturn before it makes sense to trade as a customer. There just isn't any money in it for churning. Other ways they might be...

I think this thread got off on a tangent and I wish to apologize for any misunderstandings. I would be happy to get a list started if members vote this in. I find that sometimes I have to PM someone to figure out what their abbreviations mean. I would like to have an abbreviations list just so...

Magic 8-ball? :D Sorry, couldn't resist.

Well. Read my post again. There is no attack there. I seek to clarify the difference between what is prop and what is not. I have no reason to attack arcades or customer trading rooms. To me, arcade is not a negative term. May be it was intended to be, but that is not my intent. The point is...

Why is it an insult? By arcade, it doesn't mean that you are playing games. It just means that you trading your own funds using someone else's infrastructure, office space and, possibly, computer systems. Strangely enough, people here have a bad impression of what a prop firm is and others...

I disagree with you here. You are describing an arcade not a prop shop. A prop shop does NOT take money because you are a proprietary trader using the house's money to make money and you get a cut of what you bring in. That is prop. The "pay commission until you are poor" business plan does not...

Send me a PM with the names of the firms if they are in Chicago. As Nitro said, focus on the firms with the ability to innovate. They will survive and can take you higher. Did you visit the firms? What is your gut feeling? What were you promised? Have you talked with any of the existing traders...

Use bookmarks on your browser. Using desktop shortcuts for webpages is inefficient. Organize your bookmarks by priority.

Hmmm.... you are right. I never thought about that. I think Dish and DTV only download at rates of around 384kbps. That is less than 3% of my internet bandwidth. It is probably an advertising issue. How do you target a global audience for a product that might not be available every where? I...

As far as commissions are concerned, it is always a question of what and how much. Will you only trade ES/NQ? How many turns per month (not sides... turns)? Have you considered other products? Are you swinging or scalping?

How do you go from postings this: http://www.elitetrader.com/vb/showthread.php?s=&postid=744569#post744569 to providing signals for the ES for others to follow? I'm confused. Are you learning or mentoring?

Your loss will make you stronger if you understand it. You may be on your way to tripling that loss soon. Many of the great ones went through this. You drive and desire will tell you whether or not your should give up. If you decide to move on, then that will be the best thing for you as well...

Yeah.. I guess I give them more credit than I should. They will get their act together or be replaced by some other paper-machine.

I yield to you undivided, unbounded wisdom and knowledge. I don't get my thoughts from a "thought-book" (or is that my brain). I get them from experience. I speak 6 languages, have lived in over 8 countries and have visited more countries and cultures than the majority of the people on the...

I am always concerned when someone calls himself a trader but still allows himself to use a broad brush to label mankind. It is sad to see that many guys here, who are exposed to many markets and tons of global info, still feel that they can say a group of people is intelligent/dumb or whatever...