How much would it cost to open a Prop Firm Office (ie. Bright Trading Affiliate)
- Thread starter CoolTraderDude
- Start date
Agree about the "gloomy talk" - and would put forth that it may very well be cheaper overall to align with an existing Firm than to go through all the overhead of Compliance, FINRA, Exchange, Audits, etc. BUT - MAYBE NOT, if you figure you can save $500k or so per year, do it yourself. That's about the minimum for some basic requirements.
I think you'd agree Mr. Morse. I keep in touch with the other top players (Echo, Generic, etc.) as well.... and we agree on on thing, for sure, Compliance is costly...necessary, but costly.
In any event, if someone has a profitable group, then maybe they can share some of the overhead. The real problem is finding 10 guys who are willing to share EACH OTHER'S RISK. GUARANTEE THE OTHER GUYS. Which, when mingling funds, is what happens.
I would like to see many more firms come into play, legitimate firms of course. Get this economy moving again. If our guys keep going like they have so far this year, I think we can see some good things in the last half of the year, and 2013.
Don
I have always felt that it was the job of the firm to find trustworthy profitable traders.
I have always felt that traders should be trading and not doing other things like finding groups or even researching. That's like jack of all trades and master of none.
MLB players like A. Rod, D. Jeter, etc. should not have to find other good baseball players to put together a winning baseball team.
The scouts and General Managers are responsible for putting together a winning team. This is their expertise.
Speaking of trust, I have met some prop lite traders who would steal my chair at a prop lite firm. You know how good trading chairs are essential. You seat in one practically all working day. I find trading difficult next to or around these traders. If you can't trust them with a freaking chair, how could you trust them with other more "important stuff".
I also met a trader who would sneak in on weekends to snoop around the office. Didn't like the fact that he logged on to my computer. What was he looking for?
Could prop lite firm managers hire "normal" people please?
Quote from SteveNYC:
I have always felt that it was the job of the firm to find trustworthy profitable traders.
I have always felt that traders should be trading and not doing other things like finding groups or even researching. That's like jack of all trades and master of none.
MLB players like A. Rod, D. Jeter, etc. should not have to find other good baseball players to put together a winning baseball team.
The scouts and General Managers are responsible for putting together a winning team. This is their expertise.
Speaking of trust, I have met some prop lite traders who would steal my chair at a prop lite firm. You know how good trading chairs are essential. You seat in one practically all working day. I find trading difficult next to or around these traders. If you can't trust them with a freaking chair, how could you trust them with other more "important stuff".
I also met a trader who would sneak in on weekends to snoop around the office. Didn't like the fact that he logged on to my computer. What was he looking for?
Could prop lite firm managers hire "normal" people please?
Hmm Trying to digest your points here. Since most of our people are remote, no worries about taking your physical seat. We do protect the sanctity of an established traders actual seat, of course.
As far as setting up groups or looking for traders, that seems to come from the request of the traders over the years. We still have small groups around, just not as actual office, again, traders choice. Nice to work with friends of course.
And, to be sure, traders are not normally normal, LOL.
All the best,
Don
wELL don..just because I do not want a Socialist or a Morman for a president and I believe in our constitution...does not make me "Not Normal"...
Just because I have a relationship with my Dog does not make me "Not Normal"
Just because I look at life like it is a partially zero sum game and give and take has a different meaning...well THAT is "NORMAL".
When I play BlackJack I need to know the count....
When I do not believe what I see....
ETC...
Ok...I see your point...nevermind.
ES
And, to be sure, traders are not normally normal, LOL.
Just because I have a relationship with my Dog does not make me "Not Normal"
Just because I look at life like it is a partially zero sum game and give and take has a different meaning...well THAT is "NORMAL".
When I play BlackJack I need to know the count....
When I do not believe what I see....
ETC...
Ok...I see your point...nevermind.
ES
And, to be sure, traders are not normally normal, LOL.
Ah, the worldly wisdom of Mr. Electric Savant, by old buddy. You know as well as I do that it takes a certain type of person to be a legitimate trader. I'm totally serious about that part.
Of course I like to think that we (traders) are a different breed overall as well, maybe not "crazy" buy "different."
Traders won't be messed with or duped nearly as often as the general public. We see 1000's of attempts daily to confuse our trading plans, to outsmart us, but to no avail. It takes a while, but we are all part of very small group (legit traders that is)....
Glad to have you on board....
And the humor shines through....
Don
I have to agree overall. We tend to enjoy life, not filled with fear, not blaming everyone else for everything. Just a happier group IMO. I've been around traders, and others in the industry for decades...prefer traders for social events. Generally not all caught up in "doom and gloom" of economy or political teams and all that.
All the best everyone,
Don
Don, I'm sorry, I have to disagree with you there. I hang out with traders socially a lot and they are as a group by far the most cynical, end of world, doom and gloomers you will ever meet. Do you read this web site? LOL. Seriously, after having a few beers with some traders all I want to do is stock up on can food and water.
Now salesmen, totally different story. Very upbeat, all smiles, very happy. Were you confusing salesmen with traders Don?
Quote from Maverick74:
Don, I'm sorry, I have to disagree with you there. I hang out with traders socially a lot and they are as a group by far the most cynical, end of world, doom and gloomers you will ever meet. Do you read this web site? LOL. Seriously, after having a few beers with some traders all I want to do is stock up on can food and water.
Now salesmen, totally different story. Very upbeat, all smiles, very happy. Were you confusing salesmen with traders Don?
Not at all. My experience with solid traders has always been positive. I'm surrounded by different politics of course, but never doom and gloom. Sales people are sales people, and I know you would like to put me into that slot, but I've aligned myself with traders first, educational promotion second, much easier that way. Sales people happy on the outside, miserable on the inside IMO.
I wish you would have made it to some of our Christmas parties here in Vegas.
All the best Mav,
Don
Here's a softball, as you call it. "Are you miserable?" Or do you consider yourself happy most of the time? You're a successful, healthy person, right?