Experienced prop traders?

[Altec55]

Interested to know what experienced professional traders look for when joining or trading at a proprietary/equity trading firm?

Any feedback would be appreciated as I would like to explore my options.

 

[dealmaker]

1) Good stable management
2) Good processes
3) Platform
4) Margin/leverage
5) Cost

 

[krazyanyway]

Ditto.

 

[Szeven]

Legality of organization.
Management and support.
Platform.
Rates and payout.

 

[CET]

You definitely want to make sure what the nature of the relationship is. Some consider you a contractor, and I believe you must pay self-employment tax. If you get a K-1 from the firm, I believe you avoid the self-employment tax. Others can better provide details on this aspect, but it is important.

 

[cubical]

No deposit firm (where they have a vesting interest that you succeed)
Quality management
Sr traders


do not pay too much attention to commissions at first. you want to learn, not make money, for the first year or so anyways.

 

[sandyawty]

Does anyone know of a prop shop that allows index futures trading?

 

[Surdo]

Quote from sandyawty:

Does anyone know of a prop shop that allows index futures trading?

There are several FCM's that offer $500/contract performance bond.

Are you looking for leverage or a desk space ... cause 'dare ain't many "prop" shops offering better leverage than dat unless of course you have a real track record?

sudso

 

[sandyawty]

Thx Mom0/pH0x, I'll check 'em out tomorrow.

 

[sandyawty]

SURDO, thx. what shops do you suggest I contact? I have a modest record. Ideally want a remote set up since I'm in LA but I'm mobile as necessary. NYC or Chicago are OK. I just don't want to pay time or money for schooling. I'm already green and just want leverage.