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The market for reality is very thin. I like to think I add liquidity but I bet everyone else thinks they do as well ... lol.

Great post Mav. You have outlined who prop works for, the conditions it works under and why it works. You have also laid out the part of the equation that most small/directional traders simply cannot seem to comprehend: "Leverage and direction are like oil and water, they don't mix." I...

This comment has more weight than many might imagine. In the '70s huge quantities of over-the-counter shares were pumped up and retailed to European investors ... mostly Germans. The competition for top salesman was intense and the money was huge for the salesmen and of course for the house...

I third the switch motion. And I join in with those that have thanked you for being so generous with your time.

It would be a nice theory but it does not conform to the facts. There are guys making real money prop, independent ... every which way. And others washing out every which way. Don't let the nostalgia for the old days color your judgment on today.

I actually intended my advanced age to be only a minor point not my central theme ... lol.

Suppose a single guy lives in NYC (or Boston or Chicago) and it costs him $100K (take home not gross) to lead an almost comfortable middle class life and he has $250K buying power. And some could make a case the almost comfortable is a stretch ... not quite comfortable might be a better...

Statements like that, whether they are true or a delusion, come off much better when you are being complimented by another ... preferably someone whose judgment is highly respected. When you say it about yourself -- again, whether it is true or a delusion -- it is more than a bit suspect...

Lucias, I assume you mean "the era of the discretionary trader is past and gone" at prop firms ... as opposed to being over in general. Assuming that is your opinion it sounds correct. Discretionary traders are more likely to be directional than those requiring more infrastructure and as Mav...

Given that the original post was three years ago I'll hazard a guess that he applied himself and learned. BRAVO!!

Since I am on cable I have historically noticed a major difference between trading hours and nights/weekends. I am fortunate to be in an exclusively residential neighborhood so the best performance is during RTH. That is why I a stunned at the numbers on a snowy Saturday afternoon when most...

And just when I was about to tell you guys that there is an urban legend that duels are still legal in Paraguay as long as both parties are registered as blood donors. Before anyone tells me I am insane I will admit that I have never been to Paraguay and remind everyone that it may be just an...

I have never traded prop and am unlikely to but I've got two cents to throw into the pot. In business it does not take long to figure out if the people you are depending on are in fact fair and dependable. What that boils down to is if there is a ZERO front money deal on the table backed up...

This is my latest result using Time Warner's speed test from their new modem to their central office: Download Speed: 30957 kbps (3869.6 KB/sec transfer rate) Upload Speed: 5159 kbps (644.9 KB/sec transfer rate) I assume, but do not know, that these two go through my router...

I believe it was Illinois Senator Everett Dirksen.

While I have no first hand knowledge that this is true the consensus seems to be that they are the Rolls Royce of the industry.

To me the crux of the article relates to the fact that factory floors have ceased to be a training ground for skills, promotions, routes up in our society. Coincident with that happening the quality of education for the children of both the poor and working class has fallen apart at the seems...

I suspect 4MM is light but it pays to ask. Also, if they won't pay, ask for a rate. You may find you can cover 4MM at a price you value and as you negotiate it knock some pennies off your commish or get a better rate on short sale balances (securities only) or whatever.

If, as it sounds, it is specific to your account and you are named as additionally insured it has real value and for certain traders could tip the balance. Also, I suspect -- but have not researched -- the clearing firm (ADM) is very strong.

While it is common for the broker to pay the premium what you want if the account size warrants it is a separate policy designating you account as the insured asset and you want to be named as additionally insured. The sure way to end up with pennies on the dollar in the event of a disaster...