My genuine aim is to find if there is a better model as compared the other models ( hence the mention of other models)
In that regard I was dissecting all models including my own idea of the First loss funding model and get attacked like this! that too on personal level!
Instead of helping you are just attacking me for questioning other models!
Model 1: top level Pro and cons ( No cost to trainee/ Need a Uni education no mass appeal)
Model 2 : Leverage provider based on First loss. Pro and cons NO education ( Risk capital reqired + past performance, limited mass appeal
Model 3 : Paid test model ( the one i am critical off,Limited capital to entry, Mass appeal but could be a trap for new people)
No one is attacking you, we are attacking your idea. It sucks. LOL. Look, it's very simple, a trader either has an edge or doesn't. Now, some of the old school chicago prop firms(the ones Bone mentions) would hire guys right out of school. Obviously these people have never traded so they don't have an edge. But the firm thinks there is a high probability that they have the skills to find the edges, so they take a shot on the young guys. Some of them pay off, some of them don't. The only other model that works is you already have a certified track record and like the previous poster mentioned, you shop it around to recruiters or capital allocators. These are the two models. You just introduced a new term, called mass appeal. I'm not sure what you are talking about but I assure you, prop firms have had huge mass appeal for decades. Everyone I knew in Chicago would have loved to work for DRW, Jump, Geneva, WH Trading, Chopper, Breakwater, Transmarket Group, etc. These are great firms. And yet you claim there is no mass appeal? LOL. If anything, there is too much appeal as those firms were swamped with resumes and it was highly competitive just to get an initial phone interview that lasted 5 minutes.
You seem to be the spokesperson for what people want but clearly you don't understand this business. Can I offer you a suggestion. There is another forum, I probably can't mention their name on here but it goes by the initials WSO. Just do a google search and it will pop up. Click on the trading forum. There are 100's of threads there of guys asking how to get into these firms which you claim have no mass appeal. But you can go ahead and start a thread and ask these guys if they would bite on your model, which at this point I'm not even sure what it is. But regardless, shop it over there. You will get a lot of responses from real traders looking for real jobs.
Honestly, I'm trying to be helpful here. I ran a regional office for a prop firm in Chicago for 6 years. At the time we were a pretty unique firm in that we offered a boutique approach where traders could trade options, futures and equities. Most traders put up risk capital, but we selectively backed a few guys and we backed our market makers 100%. I have a lot of experience in this area. I'm trying to give you the best advice I can but you keep going off topic talking about other firms.
Have you put forth your model yet? What is it? Put the details here and on the other forum and many of us will give you honest feedback. As of now, I have no idea what it is. What is so special about fintech? It's the most over used word in the market right now.
