Best Prop Firm At This Point In Time

[Don Bright]

Quote from Hydroblunt:

You evil promoter. I heard from so & so's monther's in-law cousin that Bright is the worst prop shop on the face of the earth. I heard your whole operation is just one big scam to rip-off poor unsuspecting newbies.

Now I have exposed you, I shall proceed to pump your competitors and steal all your traders. Mwuhahahahahaha!

Very cute indeed....I, unlike some others here, can accept a tongue in cheek comment at my expense, and (at times), even smile about it.

Don (Dr. Evil exposed)....

 

[TruthTeller]

Quote from jackedup:

Just a question, as I'm looking through this thread, you people seem to be quite opinionated about many different prop shops or prop in general? Now, how many fo you have actually traded for an extensive amount of time with these prop firms you bash/applaud?

You'll note that nobody answered your question. That tells you all you need to know about prop shops. The success rate of prop shop traders is extremely low, despite all the claims of "training" and available "margin", etc. etc.

A new sucker born every minute. If there were any true advantages, this site, believe me, would be filled with success stories of prop shop traders and you would have gotten an immediate response from someone other than Don Bright.

I will have to give Don credit that even he, when pushed, warns of the risks and low success ratios. But then again, he is legally obligated to do so. Which is as it should be.

 

[Don Bright]

Quote from SethArb:

hi DON :

what traders in your firm have made some nice kachingo over the yrs ?

I know of one trader who was at Shoney

who is now running a hedge fund

To quote my brother ..."Those who fail at trading, start hedge funds" (I'm holding up my hands in fear at this point, LOl). But that's another whole story. We, of course, have some of the best traders on the planet....and, they would never give away 80% of their profits just to be a part of a hedge fund (heck, we can give most people more money to trade with than they can possibly put to good use anyway). Sure, there are a few "good guys" who, for one reason or another, went off to risk OPM, but very few.

I can simply point to my pals in BC (www.pairtrader.com), who now have 3 locations and are backing nearly 50 traders with their own money. They work extremely hard, and come back to Vegas every few months to learn more and more, to hone their skills as it were. And, yes, we have had hedge funds of one sort or another over the years.

Anyway, Seth, I hope that you are continuing to do well.!!

Don

 

[Merovingian]

Quote from jungleland78:

i dont trade anymore with echo...managment is not trustworty and i quit, thats why....and i was only paying .004 with no ecn charges....

ps. pax doesnt own echo...nice try!

.004 w/no ecn? How much volume were you doing to get that rate?

 

[jungleland78]

500k a month

 

[jungleland78]

that rate was given to me by brian at echo..i have the sheets to prove it

 

[BOSS_HOG]

Quote from Don Bright:

To quote my brother ..."Those who fail at trading, start hedge funds" (I'm holding up my hands in fear at this point, LOl). But that's another whole story. We, of course, have some of the best traders on the planet....and, they would never give away 80% of their profits just to be a part of a hedge fund (heck, we can give most people more money to trade with than they can possibly put to good use anyway). Sure, there are a few "good guys" who, for one reason or another, went off to risk OPM, but very few.

I can simply point to my pals in BC (www.pairtrader.com), who now have 3 locations and are backing nearly 50 traders with their own money. They work extremely hard, and come back to Vegas every few months to learn more and more, to hone their skills as it were. And, yes, we have had hedge funds of one sort or another over the years.

Anyway, Seth, I hope that you are continuing to do well.!!

Don

DON, what you fail to point out is that people who start hedge funds are usually much smarter or have more of an edge than a prop trader. Also, if they are managing a couple hundred million and return over lets say 10%, then they get 20% of profits, that dwarfs the couple of hundred thousand they MIGHT make slugging it out as a prop trader!!!!!

I liken you to the guys selling picks and shovels to the miners in the gold rush days. You promise riches pursuing a dream, but realize there is more money to be made, at less risk, in selling the supplies.......

I am not a prop trader nor a hedge fund guy, I trade a little here and there- basically just managing my money at this point- but if I had to be a trader, I would MUCH rather be at a fund!!!

 

[Don Bright]

Quote from BOSS_HOG:

DON, what you fail to point out is that people who start hedge funds are usually much smarter or have more of an edge than a prop trader. Also, if they are managing a couple hundred million and return over lets say 10%, then they get 20% of profits, that dwarfs the couple of hundred thousand they MIGHT make slugging it out as a prop trader!!!!!

I liken you to the guys selling picks and shovels to the miners in the gold rush days. You promise riches pursuing a dream, but realize there is more money to be made, at less risk, in selling the supplies.......

I am not a prop trader nor a hedge fund guy, I trade a little here and there- basically just managing my money at this point- but if I had to be a trader, I would MUCH rather be at a fund!!!

If you can find someone willing to give you $200 mil to "trade" with, then my hat's off to you. But, since 99% of all traders don't seem to be able to find people willing to write blank checks in that amount, it makes more sense (IMO) to accept a small bit of risk ($20K or whatever), use a few million of a trading firm's money, and keep all of the profits. This scenerio is open to virtually anyone who wants to be in business for themselves, whereas the other option (hedge fund manager) is a rarity indeed (especially to those with no track record).

The "hedge fund manager" that I speak of is the guy who, for whatever reason, gets a few bucks from "investors" - and uses that to trade with...they tend to "legitimize" the borrowing of other people's money by calling their venture a "hedge fund." The better traders, for the most part, don't want to give away a big chunk of their profits.

As far as "being at a Fund" - that implies simply being an employee, not always a "fun" option.

To each his own...

Don

 

[USMCinfantry]

Quote from TruthTeller:

You'll note that nobody answered your question. That tells you all you need to know about prop shops. The success rate of prop shop traders is extremely low, despite all the claims of "training" and available "margin", etc. etc.

A new sucker born every minute. If there were any true advantages, this site, believe me, would be filled with success stories of prop shop traders and you would have gotten an immediate response from someone other than Don Bright.

I will have to give Don credit that even he, when pushed, warns of the risks and low success ratios. But then again, he is legally obligated to do so. Which is as it should be.

SO what you're saying is that because noone on here has any experience with prop shops and has nothing to say about prop, that props must be worthless and unsuccessful? This is the most ignorant statement I have seen on this board in a while. SOme of the best traders in the 90's were produced by Prop: Schonfeld, ETG, WorldCo, etc. Of course there are risks and disadvantages to prop shops. So does remote and trading in general. While I agree there are some really shady shops out there but there are some good ones as well. I suppose you think Stevie Cohen's shop, SAC capital and his top prop traders are worthless too?

 

[BOSS_HOG]

Hedge funds have way more advantages and information than your average prop trader. It is becoming increasingly tough to return consistent profits, with the black boxes and quants arbing out every opportunity these days. The times of catching huge moves are fading with the reduced volatility of late. The prop trading environment is changing. The days of slinging it out scalping and chopping it out day after day are nerve racking, your typical move is less. You compete with hedge funds that work with buy side research firms and have WAY more info than the average prop trader.

To paint a picture that making a few hundred grand within a year or so to the average guy that gets into prop trading is easy or even normal is just wrong.

Prop trading is a way to make some good coin, but you better know what the hell you are doing, because the sharks out there will eat you alive if they smell weakness!!

Now, come on in guys, the water's fine!!