ATTN: All professional/prop firm owners and managers.

[metooxx]

Originally posted by bro59
Your risk is only what you put up. Why would a guy with a seven-figure income care about 25 or 50K contribution? Sounds kinda fishy.

I always wonder why someone is afraid of trading their own money ...

 

[Jonnytrade344]

Also, ask each firm how many profitable traders they currently have and what is their success rate for teaching newer traders.

 

[axehawk]

Originally posted by Jonnytrade344
Also, ask each firm how many profitable traders they currently have and what is their success rate for teaching newer traders.

I've already posed the question of retention rates at prop firms in a previous thread. I believe the only ones that posted numbers were Don (Bright) and rtharp (Echo).


axe

 

[axehawk]

Originally posted by metooxx


I always wonder why someone is afraid of trading their own money ...

Correct me if I'm wrong, but don't you trade other people's money? I believe you said on a previous post that you manage a hedge fund in Chicago???

 

[metooxx]

No, we trade our own capital; have a prototype fund we sent up with principals, then decided we did not like outsiders.

 

[metooxx]

And I was not referring to managed money, but traders at prop firms not willing to risk their own capital to trade.

 

[xtrader]

firms can hold your money 12 months from the date you start.

and if they go out of business after you leave, you lose your deposit.

last time I checked, no one let me hold $25K for 12 months with a possibility of NO refund.

 

[potrader]

Originally posted by metooxx


I always wonder why someone is afraid of trading their own money ...

It's probably because they cant trade profitably.

 

[dafugginman]

Originally posted by axehawk



Does anyone have any comments they'd like to share about their hiring experience at places like Schonfeld, ETG, Generic, etc.??

Axe

i was asked how many gas stations do i think there are in the united states, and as a follow up, how did i come up with this number.

probably won't help you, but i thought it was interesting.

 

[trader55]

YOU ASKED:
(((firms can hold your money 12 months from the date you start.

and if they go out of business after you leave, you lose your deposit.

last time I checked, no one let me hold $25K for 12 months with a possibility of NO refund.))))

REASONS TO TRADE AT A PROP. FIRM:
1) YOU HAVE MUCH GREATER LEVERAGE

2) AS A MEMBER OF AN LLC YOU HAVE MANY TAX BREAKS. FOR INSTANCE I PAY NO SOCIAL SECURITY TAX.