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Thanks...OK, that makes sense. You'll only get paid if you reach a new equity high for that quarter.

In terms of trade secrets, they definitely have a point there. Thanks again for your input here.

Thanks the1. OK, it sounds like the contract can get tricky. The 1-year ban sounds unfair to me though especially if one brings in his/her IP. I will understand that if they make you commit for a period of 6-months or a year but basically they are saying that no matter how you and the firm...

Did you have to pay the desk fee for every month regardless of the monthly PL? Or it was just deducted if you were + for the month? Well that 50/50 split is not bad at all. Also, did you have to sign a contract stating something to the effect of you had to trade there at least 6-months or one...

Lucias, thank you very much for the breakdown. Scam and the arcade model are the ones that I would not be interested in.... I have a science degree and my trading program has live performance results. But it's not HFT. I'll see where it goes. I might have a chance at it.

the1, I assume you didn't put in any risk capital? But I think the desk fee was in a way 'security premium' for the company. What kind of %profit split were you working with?

Yes indeed, an automated, rules-based trading system is what I'll be offering. They will be supplying the risk capital; that's why I am interested to learn more about what kind of %profit split they're offering these days.

Indeed, I was expecting to get %profit sharing for new equity highs, not during recovery from a drawdown.... Unnecessary fees and nickel and diming are the scary parts that I'm hoping I won't encounter...

Thanks rosy2. But this is contradicting what bone wrote for futures prop trading ('Chicago' firms). The traders are not supposed to take any capital risk...

Interesting! It looks like a dream work environment.... It looks like they are a prop firm in the real sense....

Great! Thanks again bone.

bone, Thank you very much! I wasn't aware of the CME bylaws that you mentioned... I think most of the prop trading I've been hearing about were geared for equities and beginner traders. In these cases, the firms almost didn't risk any capital and actually made money from training...

bone, Thank you very much for the feedback! 50% profit split is more than I expected! Will this still be the case if I don't bring in any risk capital.? In terms of payments, I think firms offer different structures, W-2 being one of them. I agree that that'll suck in terms of tax treatment!

Hi all, I've been running automated quantitative trading programs in the futures market for the past two years-- My background is in physics. I monitored the programs in real-time in a demo account for one year and traded live for a total of about a year. The results are in line with the...

By the way, are you trading equities or futures?

See, live and learn man! There are crazy people like me too in the markets -- my $$$ cash is for grabs ! I found a charity for upgrading brokerage firm CEOs's yachts -- I want them all have at least 200 ft long boats :) Joking aside, I am actually trying to save money by not paying...

Thanks. I was thinking along the same lines. It'll be just a waiting game until the volume thins down on one of the sides.

Thanks heech for the heads up.... More paperwork in that case...

Could you please care to elaborate? I am looking for people's experiences. I talked to Interactive Brokers yesterday. For a give up account, you either need to deposit $1M with them, or the account (at the other broker) needs to be > $30M. Information like this usually is not available online.

Hello, A brief background... I am on my way to becoming a CTA, last year I passed my Series 3 exam. But I haven't finalized my application yet. I am still struggling with getting the QEPs 4.7 Exemption or not. That's another story though... I am about sign up a client; that account will be...