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Best Prop Firm At This Point In Time
- Thread starter Rapper
- Start date
Quote from koko2:
So do you trade with commissions at their cost?
If they truly were not interested in commission generation, you would trade at cost. There are a few futures shops where you can trade at cost, but I didn't think DE was one of them. I'm not saying it's not a quality shop.
That is a good point about the commission costs. It seems many futures prop firms say they are not in it for the commissions yet they mark them up. This can rack up big money for firms if they promote the scalping methods that have their traders churning.
I have traded with a number of Prop firms and currently trade with Assent. Their executions are fantastic and I love their new Anvil trading platform. It has hundreds of different types of orders which you can setup as hotkeys or buttons.
It also allows programmers to write extensions for and automate trading. We integrated our order entry software to route orders seamlessly to Anvil which saves time entering a lot of orders as they showup on our scans. I also tend to have 8 to 15 positions and I prefer to use our order execution software because it makes it far easier to manage so many positions, I can quickly exit all longs or shorts if the market reverses and more easily scale out of positions as they move in my favor.
It also allows programmers to write extensions for and automate trading. We integrated our order entry software to route orders seamlessly to Anvil which saves time entering a lot of orders as they showup on our scans. I also tend to have 8 to 15 positions and I prefer to use our order execution software because it makes it far easier to manage so many positions, I can quickly exit all longs or shorts if the market reverses and more easily scale out of positions as they move in my favor.
Quote from topgunsoftware:
I have traded with a number of Prop firms and currently trade with Assent. Their executions are fantastic and I love their new Anvil trading platform. It has hundreds of different types of orders which you can setup as hotkeys or buttons.
It also allows programmers to write extensions for and automate trading. We integrated our order entry software to route orders seamlessly to Anvil which saves time entering a lot of orders as they showup on our scans. I also tend to have 8 to 15 positions and I prefer to use our order execution software because it makes it far easier to manage so many positions, I can quickly exit all longs or shorts if the market reverses and more easily scale out of positions as they move in my favor.
See there just move to Anvil and all your trades will be green!!!
One question did you pay for you promo?
I used to work with a major IB as a prime broker. I can say this, anyone who has an opportunity to work with or for a large reputable hedge fund should by all means do so. Funds such as Caxton, Tudor Investments, Citadel, Renn, SAC, Fortress, DKR, DE Shaw MOVE markets. Their access to information is far and above any prop-trading firm. Traders at these have such an edge over everyone else. Itâs not even close. Operators of these funds are so well connected to banks and other major players. Traders consistently make several million dollars at any of the above firms. Those who are entrepreneurial and successful will then spin off, starting their own fund. The only prop traders I know who are immensely successful (in terms of financial compensation) are those who are on the fast track with major IBs. That being said, once they prove themselves, they will spin off as well, starting their own fund.
Quote from PuffyGums:
Dont hate topgun. Slap around the dude with 4 posts who started this thread which is an invitation for all the prop firm sock puppets to post a free ad.
I have absolutely no affiliation with Assent, just trade there and many of their traders use our scanning software. Anybody who has ever traded with them will tell you the execution's are fantastic and I was pointing out that they do have the capability of letting experienced programmers write black boxes and/or other trading applications. We are currently writing an auto exit feature that will let you determine how you want to exit your trades and then our software will manage all of your trades for you. For example when I'm following my rules I like to use a 2X chandelier volatility stop for initial position, exit 1/2 my trade when it moves up the amount of my risk and then let the chandelier stop trail the remaining position. When the stock moves 80% of its ATR then I change the chandelier stop to 1X trailing to capture as much of the profit as possible.
I've found I do significantly better by taking 8 to 15 positions a day, often they are on at the same time. I frequently, due to being taught scalping as my first trading style, get out too soon. Yesterday got in LEA at 42.05 and out at 42.07 and watched it move another $2+ points. I have a hard time staying long when I see the market reversing. This frequently costs me and on most days I'd have made 2X to 3X more money by following my rules. It's hard if not impossible for a human being to watch 8 to 15 stocks to see when stops get hit, watch the futures and the balance point semi, tech, drugs, banks and retail to determine market direction.
Quote from randolphfutures:
I used to work with a major IB as a prime broker. I can say this, anyone who has an opportunity to work with or for a large reputable hedge fund should by all means do so. Funds such as Caxton, Tudor Investments, Citadel, Renn, SAC, Fortress, DKR, DE Shaw MOVE markets. Their access to information is far and above any prop-trading firm. Traders at these have such an edge over everyone else. Itâs not even close. Operators of these funds are so well connected to banks and other major players. Traders consistently make several million dollars at any of the above firms. Those who are entrepreneurial and successful will then spin off, starting their own fund. The only prop traders I know who are immensely successful (in terms of financial compensation) are those who are on the fast track with major IBs. That being said, once they prove themselves, they will spin off as well, starting their own fund.
Very true.