Quote from chanci:
Wow, after skimming through 18 pages of post, I think I saw like 3 prop firms mentioned... and not even answering much to the question in the topic. So I'm still wondering.....Which are the best prop firms at this point in time?
Well I wonder what the reason(s) could be. First, I believe most people posting on ET don't trade for a living. What leads me to this conclusion is that there is a great deal of bashing, posturing, and dramatic agenda in many threads. Traders like this don't tend to last long, and even in myself, when I find hints of that kind of trader left in me, its something I need to eradicate in order to improve.
Successful business people, while perhaps not always the most forthcoming to lend a hand (there are quite a few quasi-successful people who belong to a "discouragement fraternity"), generally know the opportunity/time cost of bashing. Why engage in that when it does not improve your bottom or top line?
The core belief that these types of poor traders (or non-trader posers) hold to is that prop firms MUST be shady, or poor, because they themselves are poor traders, or are not even trading.
Do you want to know what I believe the truth is, if there is one truth? Its that each relationship (trader-firm, friend-friend, etc etc) is a value exchange. We buy all of our friends, all of our business partners, etc. Both parties have to perceive value from the other or the relationship ends. Even if you are unbalanced mentally, any relationship involves a perceived value exhange.
What firm is the right firm for you? "Bad firms" provide something for the traders. Sometimes people love to pay for the right to engage in fantasy, quick riches, undisciplined gains. These firms are providing a service and they have a captive subset of traders who love the product. So I guess certain traders would call these "good firms". Everyone gets what they want.
"Good firms" may provide the select traders with a better business plan and have a larger ratio of traders making a professional living, just from trading. Yes, its unexciting to the "bad traders". Yes, it takes a serious business mind to become and stay successful year in and out. These firms provide value for the "good trader" and both profit from this kind of exchange.
I would say my two paragraphs above represent the extremes of a continuum of firm-trader types. All permutations and combinations of trading relationships could fall at those ends or somewhere in between.
So, in looking for the "Best Prop Firm At This Point in Time," wouldn't it be prudent of you, yourself, to first take a hard look at yourself, and find out what kind of trader you really are? The match the firm to what you want to get out of it. Be honest if you want to trade for the rush, then you can allocate a small percentage of your worth to trading, and blow it. It provides you with VALUE. For some losing money like this may inhibit the needs to take part in behaviors that provide more of a downside. For example, excessive drinking, or the like. We all need sometimes to have cash to just burn, its fun to spend money, just be honest with yourself and don't try to call that a career. Do something else to make money, and keep trading for fun and entertainment.
At the other end of the spectrum, if you decide trading is one way to create a life you envision, then you can ante up to that table, and all that it will ask of you. You find the firm that can help you get to that place as well. Most of these firms you DONT hear about, cause they don't make the grandiose promises, and they don't want many traders who really are in it for other reasons.
Perhaps, as you evolve as a trader, the firm you began with will not be the one you currently use. So, in this illustration, the best firm for a trader also varies with time context. Where a trader is in his or her career has some bearing on the firm s/he associates with.
This thread is really about finding the best firm for you. I believe its obvious that there is no one firm that will fit every trader, because every trader wants something a little different than the next from their trading.
