do they make enough more to make up for the increased desk fees etc. though?
Im seeking Prop Shop in Phoenix Arizona
- Thread starter traderclay
- Start date
do they make enough more to make up for the increased desk fees etc. though?
lets say each prop trader pays $500 a month to trade in an office, (tax write off) and one trade alone can make up for it each month. plus when trading in a group you always just have your eye open for others even if you arent trading that ticker. Example, assume a trader next to me is trading Pepsi, I hear news about Pepsi etc Id tell him. I could have saved him several thousand dollars. My job isnt too look out for other traders but trading in a group you seem to do that.
"Hey I heard news on ABC, arent you in that?"
group traders seem to announce trades too "going long XYZ 1000 shares" gets excitment going.
also trading in a prop office isnt the same as a normal job. you can always trade at home if you need too. you arent forced to be there from market open to close. no time card punching etc.
getting out of home is a huge plus. your mother isnt yelling at you to take out the trash! (I know some of these guys
)sharing ideas is great too.
I just think it is better to always start in an office, plus if you dont like it you can trade remote.
yes each pays desk fees but alot of guys will share new services and software/hardware sometimes.
and most traders need to get out into the real world once and a while
If you're asking me, no. We let the traders of several locations decide if they wanted to keep the office leases, and the reality is, no one did. We do virtually everything online these days, much more efficient. Nice to have an office to go to, for some anyway.
We keep our "Flagship" location above the CBOE, on the GS floor in Chicago, our headquarters in Vegas, and our place in BC, that's about it these days. We do have some possible affiliates who may decide to open up, and that is always possible for a group of good traders.
"Don