do prop firms let top traders trade

S

SethArb

infrequently ?

( i.e. "bradley young" profiled as a top gun in the UK

in sept 07 issue of TRADER Monthly )

seems like he can work a few hours a day
a few days a week with his firm

why do I ask this ...

today had a nice late afternoon rally in the stock index futures
and I assume many of the names traded by prop traders

would a prop firm let their trader "sit on their hands"
if the trader felt the market was "choppy"

while he or she waited for the time to enter their trades
with max profit potential ?
 
Why wouldn't they? It's the trader's money.

If you are at a firm that forces you to trade or to hit volume minimums, seriously question why you are there...
 
Independent traders are basically running their own business, not working for someone. There can't be any minimums as far as share volume goes - entirely up to the traders.

Don
 
Quote from SethArb:

infrequently ?

( i.e. "bradley young" profiled as a top gun in the UK

in sept 07 issue of TRADER Monthly )

seems like he can work a few hours a day
a few days a week with his firm

why do I ask this ...

today had a nice late afternoon rally in the stock index futures
and I assume many of the names traded by prop traders

would a prop firm let their trader "sit on their hands"
if the trader felt the market was "choppy"

while he or she waited for the time to enter their trades
with max profit potential ?
More...

I would say 80% of our traders sit on their hands. This is kind of an odd question. I really don't think a firm can make anyone trade, especially if it's your money.
 
Prop firms also have to allow for times when the trader is not 100%, whether it be illness, personal issues, ect.
There's been times i've traded when i really shouldn't have.
 
quote from Don Bright

Independent traders are basically running their own business, not working for someone.
More...

Not completely 100% "their own business":

trader must pay commish rate of Prop firm
get payout when Prop firm can make it
be confined by leverage limits and
deposit payback weeks ?? months ?? after trader leaves.

Prop model more similar to franchisee: where the franchisee MUST (say a Mickey D's franchise) put down large deposit, buy from franchise suppliers and of COURSE pay a % of profits back to the franchise.

Should trader trade his own account instead without these restrictions??
 
Quote from timcar:

Not completely 100% "their own business":

trader must pay commish rate of Prop firm
get payout when Prop firm can make it
be confined by leverage limits and
deposit payback weeks ?? months ?? after trader leaves.

Prop model more similar to franchisee: where the franchisee MUST (say a Mickey D's franchise) put down large deposit, buy from franchise suppliers and of COURSE pay a % of profits back to the franchise.

Should trader trade his own account instead without these restrictions??
More...

Not sure which Firm you're talking about.

You can take money out whenever you like (Tues and Thurs), you can actually trade more than you could possibly do with a retail firm since you're able to use our money, no holding of any money when you leave, put the same "PDT" amount you would have at IB or eTrade. No wash sales to worry about, you get interest on all your short stock sale cash, exempt from FICA, a lot of benefits in my opinion.

Don :confused:
 
Quote from marketsurfer:

don bright stands with a whip in front of the trading room--- if you don't trade enough, look out for the WHIP!

surf:p
More...

Oh yeah, I forgot to mention that part in my post above, LOL.

Don
 
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