Different Deals

M

Mongol

Hey Everyone,

I've been reading all the previous threads and it appears that there are a lot of different deals a prop trader can get. I'm looking to get my start as a trader. I could come up with $5k to start but I'd like to avoid it if possible. I've seen different posts mention profit splits that would require no cash from me as well as a couple that hinted at a possbile salary. Can anyone tell me what the odds of getting into this without any up front $$ are? I'm in the San Francisco area and I'd like to stay in this area.

Thanks.
 
odds are your going to have to put up money. if you where in a different location of the country maybe not. if you have prop firms where you live walk in tell them your broke. tell them you really want to do this the rest of your life. maybe you can get them to let you start with 1000 or 2000 down. always let people think your broke in this business when you start.
 
If you are just starting, then you wont need high buying power or be trading heavy size. The more reputable firms will let you start with only 1000-2000 down. Whoever you speak to at the firms, let them know that you only plan to trade 100 share lots and avoid risk as much as possible as you are learning.
 
Thanks for the responses. So far, I have found 5 prop firms in this area.

Assent
Bright Trading
Schonfeld
Echo Trading
Carlin Financial Group (which appears to be Generic Trading)

Can anyone comment on these 5 based on my previous question? Also, feel free to add any I might have missed.
 
Quote from Mongol:

Thanks for the responses. So far, I have found 5 prop firms in this area.

Assent
Bright Trading
Schonfeld
Echo Trading
Carlin Financial Group (which appears to be Generic Trading)

Can anyone comment on these 5 based on my previous question? Also, feel free to add any I might have missed.
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Check out ETG..............they are in you area too.

Oh yeah................and stay away from Assent
 
i would call up accent if they have an office. i know for sure you can get a deal with them putting 2k down. they will only give you maybe 20k in buying power to start but thats all you need to begin with.
 
i don't want to be mean but thats a dumb question. everybody is going to have good and bad to say about a firm. are you a good trader? accent has at least a 1000 traders i bet so how bad could it be. i think any firm that lets you learn how to trade you should be thankful too. all the 5 firms you named are good firms. my feeling is no firm is going to turn you into a good trader so who cares about the name get an acct and trade.
 
Quote from brokerboy:

i don't want to be mean but thats a dumb question. everybody is going to have good and bad to say about a firm. are you a good trader? accent has at least a 1000 traders i bet so how bad could it be. i think any firm that lets you learn how to trade you should be thankful too. all the 5 firms you named are good firms. my feeling is no firm is going to turn you into a good trader so who cares about the name get an acct and trade.
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This is largely true. However, the fact that there are 1,000 traders doesn't mean its a good firm. Worldco had 800 traders only months before going under and taking millions in trader equity with them. Tech problems can cause serious problems too, of course. I'm not actually commenting on Assent or any other firm, just pointing out that there is more to look at than how many traders a firm has.
 
I totally agree. There are many aspects you have to consider when joining a firm. The software platform? whether there is a 1 yr hold on your money? leverage?

I'd do some homework first
 
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