I am looking for a firm to start as a prop trader

quote from scaplmaster

Compare having your own hedge fund with proprietary trading. In a proprietary trading firm you can receive between 60 percent and 99 percent of your trading profits, which is considerably higher than the 20-percent profit allocation in a hedge fund. But with a proprietary trading firm you have much greater risk. You are responsible for 100 percent of your losses in a proprietary trading firm whereas in a hedge fund you are not responsible for any losses.
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One could argue that as a "Hedge Fund Trader" this person might make trades that are somewhat risky because if the trade proves profitable the fund makes money and so does manger, IF trade lost say Big Money well it was other investors funds, maybe they will forgive manger this time.
 
"What this does mean is that YOU CAN PARTICIPATE IN STRATEGIES THAT ACTUALLY WORK VS. "Picking a Stock's direction" or "Picking the overall direction of the market."
- Don Bright


Don


Are you saying that outright / picking a direction is not a profitable method? Kinda bold statement there my friend.
 
Scalp,

Look at the number of downloads of your statement; Maybe you can arrange with ET to charge per click like GOOGLE. Soon you can setup your own online Propshop and advertise:

"Please pass the details, step by step of your trading secret/systems and participation deposit of $25K and we can arrange for you to trade like a fund manager! We are very stringent in our selection process. Also, if you want to buy or sell any property, contact us too!"

A number of our ex-college mates have asked me if I could trade for them since they have no time to monitor their trades and could only invest long term in mutual funds/ETFs/Bank Structured products(which included subprime CDOs).
Some proposed a 40%:40% scheme, meaning at the end of a period (3 mths or 1 year), I take 40% of the net profit or compensate 40% of the loss if it is a net loss.

A gambler I met, after hearing this, straight away told me it's a fantastic deal. I ask why?

"Just tell them you lost everything and you get to keep 60% of whatever they gave you"

So, did these hedge funds really lose that much?
 
I am going to be a little busy soon...

but for the lazy FX traders out there,

this is a simple basket I recommend to hold until XMAS...

LONG 4 lots X AUD/CAD
LONG 1 lot X CAD/CHF
SHORT 3 lots X USD/CAD

You may scale-in/scale out along the way for partial profit taking but maintain this ratio no matter what your capital is.
 
Quote from cstfx:

An account that is funded w/50k is usually (mostly) a practice account. While your numbers are impressive, practice accounts are not a reliable indicator of anyone's trading ability as you tend to take risks that you wouldn't do if it was your money on the line. We have seen this many times in the forex realm when someone tries to show how good a trader they are by using practice accounts as a barometer of ability. Usually, a person will keep trying a practice account until they get the results they want. (not saying this is what you did, but trading your own money is a lot different than trading Monopoly money.)
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Why do you even need to exploit demo accts when you can have different real accounts of opposite trades and hold for about a year or more to show a decent track record? :D

Just square off and apply for your hedge fund manager job.
 
Quote from scalpmaster:

I have been trading for 4 yrs...but due to constraint in initial capital, I can't implement many strategies I have in mind...

As Don have pointed out, doing directional trades with capital less than 1mil has a much lower chance of survival due to drawdowns and non-directional methods usually requires a large capital...

Therefore I am looking to trade for a firm and develop further on my fx basket spreads and other spread/pairs trading approaches for indices and stocks...

email me at scalpmaster2006@yahoo.com.sg

please do not ask me the details or automation of my system as the term "proprietary trading" means I can't reveal everything.
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You go out and contact firms not the other way around. Why do you think that just because you posted prop firms would come running to you.

Do some research on prop firms and go contact them for rates and leverage and deposit info and decide who is best for you.

They do not need you, you need them...
 
I know they offer both ticket and Per share but I pay a ticket price of $8 because I trade 2500 share blocks and the Per Share price would of ate me up. There is a guy next to me who pays .007 but im not sure how much he trades. Ive checked alot of Props and they were as good if not better than in pricing and the only one that would offer me a ticket price.
 
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