Are all prop firms money sucking, greedy, evil, capitalist pigs?

R

Ron In-a-sauna

now that we have your attention, i have been reading ET now for several months and i see mostly prop. firm bashing. I have been activley trading for 1.5 years, using IB, and i have become modestly profitable. now desiring to make a living out of it i think ineed more than my $20,000 IB account trading from my closet at home; to make a living i think ineed more training, access to capital, more market access i.e. bullets OO's, etc....
does this not sound logical? wouldnt a move to a prop firm benefit me as a moving towards those goals and becoming a career trader? i know the risks involved and only a very low percentage ever become profitable and "make" it, and all i want is a bona fide shot at it. but reading many of these posts gets depressing because all you hear is bashing and the negatives. arent there any success stories out there how a prop. firm HELED somone like me. looking for any and all feedback, any comments welcome.
 
Ron,

Trading at a prop is basically the same as trading from home with a few differences I can think of:

Prop firm expects you to trade volume if you want stuff (good quote services, monitors, etc.)

Prop firm give you access to greater leverage than IB stuff

In a Prop, you have people around you, which may be a plus/minus depending on the type of person you are.

I thing I've noticed on this board though is that most people go from prop to retail, not vice versa b/c doing retail you have more freedom.

Oh yeah, don't put any cash up, thats another perk of prop.

Hope this helps!!

MUChris
 
there are some good prop firms out here!!! it only took me 3 1/2 years to find one. do you prefer to trade alone/remote or in an office.
 
The prop firm always sits at the table with an ace in the hole.

Daily you face the market(other players) and the firm. They will take money from you if you aren't good enough.

Many times its better to sit out a hand. Sometimes its better to fold. And a few times you should ante up and raise.

If you're a bad poker player, don't trade at a prop firm!
 
i chose the title of capitalist greedy pig just to grab attention...i was being a bit facestious, i personally am a capitalist and find nothing inherently wrong with being so, bit it would appear to me some members who post on this board eiher do not like capitilism because they feel prop. firms shouldnt be making money, or maybe they do not like prop firms because other various reasons or experiences. this is in part what i am trying to explore in this thread.
this also begs the question, why would any trader be
anti-capitalism, to trade you must be and believe in capitalism, or you are a hypocrit to some extent, at least paradoxical, oh well that debate is for another thread.
 
Originally posted by MUChris


Trading at a prop is basically the same as trading from home with a few differences I can think of:
More...


There isn't a single person in my office who would rather trade in their home.

Multiple Direct access t-1's
Squwak box
new reader
1.7 ghz computers with multiple flat panels
beautiful scenery walking around
trainers in the office
the ability to bounce off idea from other traders looking at the same thing
access to bullets
access to propritary strategies held within the firm
access to extreme leverage

Originally posted by MUChris


I thing I've noticed on this board though is that most people go from prop to retail, not vice versa b/c doing retail you have more freedom.
More...
huh?

How do you have more freedom at retail? It's hard to tell on a message board are you actually being serious or kidding?

I have for every 200 people I meet going prop from retail I know one going from retail from prop. If you have an edge why would you ever want to give it up?

 
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