Best Prop Firm. Period.

Z

zman7854

Hi I a newbie to this board but have been trading successfully for a 2-3 year period with tech analysis. I would like to take my trading to the next level and start trading for a proprietary firm (preferably remote access). I don't plan on changing anything but the amount per trade. I am averaging about a 1.5% gain/trade with about a 7 day hold period, 120-150+ trades/year. I adhere to strict discipline and a entry, stop loss and target program. I think managing your losses is more important than your gains and its (stop loss) importance is often overlooked. Anyways I am looking for the board members opinions on some of the best prop firms out there (and why), preferably ones that have been around for a while (no fly by nighters please). The ones I heard about are Bright, Echo and Swift. I am also not interested in taking a Series 7 as I have a proven track record verifiable by my brokerage statements and would see this as redundant and futile. (although would not have objections if absolutely a prerequisite). I am very serious with my intentions and plan to make a career of trading full time. Thanks in advance and happy trading.

Regards, zman:)
 
This has been discussed up, down, and sideways countless times. Please flip thru the various threads in the Pro Firms forum and you'll get the answer to your questions. Also, I'm sure you'll be receiving a number of PM's from recruiters of the different firms.
 
You may not need a prop firm, since commissions are less of an issue for you (doing that many trades). A per ticket deal may even be cheaper for you.

As far as the leverage, you should realise that aside from the fact that they make less $$ on you, your longer holding periods are more of a risk to the firm if you are using high leverage.
You may have to pay seat/software charge too with low volume.

However, these guys are so desperate to sign guys up right now, you may find a firm that would take you on.
 
Quote from esc_trader:

You may not need a prop firm, since commissions are less of an issue for you (doing that many trades). A per ticket deal may even be cheaper for you.

As far as the leverage, you should realise that aside from the fact that they make less $$ on you, your longer holding periods are more of a risk to the firm if you are using high leverage.
You may have to pay seat/software charge too with low volume.

However, these guys are so desperate to sign guys up right now, you may find a firm that would take you on.
More...


Thanks for the reply, I have gathered that from a short time reviewing alot of the posts. Why are these guys so desperate to sign traders up right now? As to my holding time I know alot firms frown at the holding time but as far as I am concerned a swing trader has longer staying power in the longrun than daytraders (not taking anything away from daytraders, I am just talking averages here). I used to own a business dealing with customers all the time and I learned a long time ago that it's the steady and sure system that always wins in the long run not the fast run & gun types. Besides I am just looking for an increase in leverage (better than 2:1) not training or anything like that, my track record is verifiable and stands on its own. Thanks for your reply and happy trading. :)
 
Quote from Rearden Metal:

I'm pretty sure that you can't get pro leverage without a series 7. Definitely not at Echo, anyways.
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maybe not at echo or bright but there's plenty on them out there that don;t play by the same rules
 
Quote from Magna:

This has been discussed up, down, and sideways countless times. Please flip thru the various threads in the Pro Firms forum and you'll get the answer to your questions. Also, I'm sure you'll be receiving a number of PM's from recruiters of the different firms.
More...

yeah, please take your time, not ours and research this.


at least you have Baron and his team to thank for making these forums accessible, unlike the other message boards

at least you have all that have gone before you, to help chart your course

that is taking your word at face value, and you are a newbie, and not some experienced trader spoofing a newbie, just to have their firm touted....
 
Trade on your own :)
since you are a swing trader... you can even have another job full time... (like keep your old tech analysis job)
 
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