If you want to make "easier" money, then sell a trading "system" on late night infomercial, or start a news letter.
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How difficult is it to start a prop firm?
- Thread starter angerbridge
- Start date
Quote from Maverick74:
This is true, but it's the safest. Just take a look around you on the prop threads and you will see countless posts of people who have been robbed of their capital, charged outlandish rates, had to endure crappy software and service, withdrawals that were paid late or not at all. Being that this industry is full of scum, I think it's best to stay regulated and keep everything as structured as possible. Even that sometimes can't protect you.
The landscape is changing and I think porfolio margining accounts for prop will start to become more popular than JBOs. At the end of the day you can get screwed just as easily by a registered firm as you can by a non-registered. Getting registered doesn't automatically make you a trustworthy firm.
i actually have a small group..its tough to get new traders from other firms though..lots of risk management.
Quote from Paulds11:
angerbridge
I admire your resolve and calm under pressure from some of these dudes who initialy did a good job choppin you up... Man! "chewed".... yep you come across a touch naive.. but your tenacity to seek a general picture and come back again and again with arguments and politeness was excellent...
With the right knowledge you can do anything.. but if your actualy earning the money through trading consistently, youll find these options will open up to you as your knowledge grows and your account balance grows... start there first
but there absolutely no harm in asking for a basic introduction..
Dont let anyone tell you what u can or cannot do and have that affect your inner goals... its just a question of knowledge and money and finaly the art in your execution...
Paul
Thanks. I expected people to be cynical, thats how most traders are. If it were my first day as a runner at the merc I would expect to be kicked, punched and cussed at, comes with the job.
Quote from cashmoney69:
If you want to make "easier" money, then sell a trading "system" on late night infomercial, or start a news letter.
Makin money isn't the problem. I was just looking for alternatives to the usually "lets form a group and get a volume discount" type of thing. Thought there might be some better options. Trading systems and newsletters do go for ridiculous prices but I will keep my pride instead of making a few extra grand.
i have a few traders and i formed a group. i get a set rate from my firm and charge my traders a higher fee(obviously);a fee that we all agree on.they obviously sign a contract. also,if i bring guys in who don't want my group,my firm will compensate me. there are many ways to go about this aside from creating your own firm which cost plenty.
There are some really famous multistrategy funds who are neither regulated nor are they affiliated b/d with an exchange. Being regulated does not necessarily alter the scum level.
Quote from Maverick74:
This is true, but it's the safest. Just take a look around you on the prop threads and you will see countless posts of people who have been robbed of their capital, charged outlandish rates, had to endure crappy software and service, withdrawals that were paid late or not at all. Being that this industry is full of scum, I think it's best to stay regulated and keep everything as structured as possible. Even that sometimes can't protect you.
Quote from Lights:
There are some really famous multistrategy funds who are neither regulated nor are they affiliated b/d with an exchange. Being regulated does not necessarily alter the scum level.
Have you watched the film Boiler Room!!
A MUST,, so absorbing about rogue firms with all star cast.. this I mean is what you refer to as Scum..... but wait... one thing they are better at than any thing else is SALES!!.. the Sales skills are absolutely A1 although of course they do break a moral boundry in one or two areas.. but sales in the best firms in and outside of Investment Banking is no too dissimilar at all from what you see in this movie... PLEASE WATCH IT YALL
PS. Most movies and underground files are best obtained through subscription to companies like USENEXT (forget mIRC), ok most send files of current films and porn vids but its the last bastion of freedom on the web between "friends" exchanging movies and music and free downloads...
Those who are morally challenged will find this a difficult choice to engage with
How did don start his trading firm?