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Most prop shops aren't going to be to negotiable with you since you have no record of profitability or nonprofitability. Checking each shop's deal (desk fee, draw, split, AND length), is the best way to get started and then weigh your flexability and responsibilities (fiscal and family) to...

No thanks. I wouldn't want to take the pay cut.

Where is yours?

Most common response: ME: "I'm a trader." DOUCHEBAG: "Trainer?" ME: "No. Trader. I daytrade bonds." DOUCHEBAG: "ooooooooooooohhhhhhhhhhh!" Then they either: A) Walk away. B) Talk my ear off.

I think you should look for a prop firm that focuses on making a living and not rolling the dice. If it is your first job, you SHOULD be concerned with what their focus is. Commissions or keeping you around and HELPING you make profits. Prop firms are all different and it is very important...

Have "evolved" into trading 5 - 15 times a day. Mainly in the Bund and the US 10/30 years. My daily contract volume, then, is around 1500 - 5000 contracts a day. Used to trade much more, but realized my stomach and nervous system couldn't take the swings in my P/L if trading was going to be...

The guy who owns my prop firm had everyone read Ken Grant's book. Our top quant geek has run draw down models from his book on every trader in the Firm. I was disturbed when he ran mine and saw how much $$$$$ I keep giving away after I hit a certain point. Have been applying parts of his...

Insult everyone and ask for advice. Come on in. The waters GREAT! I could use some more liquidity. Buy a set up and jump in. Trade big and often. Be a hero because heros last a long time in the markets. MY SUGGESTED READING LIST: Russ Whitney, Jake Bernstein, Optionetics...

At any given time, but usually after a 7:30am number, at our old office you could see people doing various amounts of things outside the office. Seeing how "normal" people were usually arriving for work at the other offices at that time it was pretty funny. One guy liked to hang upside down...

Hey, wait a second. What do you want to do? Trade or own a bar? Focus? Figure that out first.

NJ1000, I am not sure how old you are, but I will give my synopsis. After having a "job" and not a career for 5 years, I stumbled across a prop firm opportunity with a very reputable firm in Chicago whose owner I owe a great deal too (not monetarily). After 4.5 years, it has been...

Uncle Sam, the SILENT partner.

I will see you on Tuesday, Kory.

If you have not read WHEN GENIUS FAILED, The Rise and Fall of Long Term Capital Management, I highly suggest that you do. It should do a WAY better job explaining why big houses fail then I do. One problem is the fact that YOU are trading a smaller account. I think of the big houses as...

Has anyone heard of Long Term Capital Management?

$38 million in 3 months! HOLY SH!T! That's what it says. It looks like there was $12 million in advertising expenses, $10 million in administrative expenses, and $15 million in Direct course expenses. Poor Russ, they only pulled down $200K in profit. Who's the dummy? We're fighting...

erlewine, that link is awesome! Good to see Tommy Vu is still out there. VIVA LA VU!

The only real estate guru I would buy something from is that Vietnamese guy, Tommy Vu. He appealed to the easiest sense of drunk males who are up late. His commercials always showed him with hot chicks on boats, and he always seemed to be laughing at you. James, any endeavor into trading...

How do you go from hocking real estate to trading software?

You sound a lot like Don Leprie or that optionetics guy. No matter what job you take I hope you have dreams of becoming wildly successful, whether it is trading or bagging groceries. Seriously, you think this is easy? Trading, if treated like a real job, is another way to pay the bills. If...