is futures prop BS??

Quote from ProfLogic:

My question is . . . is there a valve on your thumb for the ego? I take it no one ever told you about "A S S U M E". It worked for "U". There are traders here at ET that could buy your Prop firm's building with their spare change.

There are great Prop firms and there are rotten Prop firms. Just like any industry there is good and bad. If you read all the posts you will see that is the consensus. Feel good about the Prop firm you work for but ease up on the assumptions.
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are you delerious?? YOU are the only one who has made any assumtions.....not I...the only thing I have done are share FACTS....also...I would wager that noone on et could buy my firms bulding with their 'pocket change' although i WOULD bet that guys in my firm have made more this month than you will in this decade......
no assumtion has been made on my part, again i have chosen to share facts.....that should be painfully obvious when you re read the thread....think about what you say before you hit that little 'submit reply' button..... you will look like much less of an ass that way.....
 
no no no. this is not a thread for flame wars.

Please, guys for just one minute, put the flaming egos aside.

Lets keep this informative.


Ill be in chicago next week, so if anyone has real usefull sh*t to say, say it.
 
Quote from sonnet:

no no no. this is not a thread for flame wars.

Please, guys for just one minute, put the flaming egos aside.

Lets keep this informative.


Ill be in chicago next week, so if anyone has real usefull sh*t to say, say it.
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yes...re read my posts.....
 
Quote from sonnet:

no no no. this is not a thread for flame wars.

Please, guys for just one minute, put the flaming egos aside.

Lets keep this informative.


Ill be in chicago next week, so if anyone has real usefull sh*t to say, say it.
More...

Flame off . . . my apologizes sonnet. Spell Check works here too . . . ooooo
 
Yes it is true that a prop firm is in business to make money but for many of them their success comes with the success of their traders. I am not saying everyone will make money at a prop firm but then that is not the way trading works anyway. Most of the reputable ones are not commission houses. A lot promote tight stop losses, but that is because they have a commission advantage (compared to retail) where you can scratch 10 times which would be equivalent to a 1 tick loss. As far as scalping, I chose a place and interviewed with firms that were not looking for traders to trade 200 times. It depends on what you mean by scalping. Most traders at my firm trade 10-30 times a day but might only make a tick or two on some trades while making 5-10 ticks on a good move. Also those trading 30 times a day might only be trading 10-15 ideas but might take a few shots at getting in a low risk area.

True you have to give up a percentage of profits but how many retail traders are going to be trading 100-300 contracts at a time after 1-2 years of trading futures which is highly possible with a prop place. If you are trading well they want you to trade as much size as you can handle which benefits you and the firm. Also if you get in a good office it is definitely encouraging when you are seeing and interacting with some traders making 10-50K a day trading regular days (non event/economic number days).
 
"but that is because they have a commission advantage (compared to retail) where you can scratch 10 times which would be equivalent to a 1 tick loss. As far as scalping, I chose a place and interviewed with firms that were not looking for traders to trade 200 times. It depends on what you mean by scalping. Most traders at my firm trade 10-30 times a day but might only make a tick or two on some trades while making 5-10 ticks on a good move. Also those trading 30 times a day might only be trading 10-15 ideas but"

Ok, it sounds like u know something about specific firms. If you do not mind, what firm are u at, and what others in your search did u find offered a good deal?
 
Hello;
I trade futures. I dont really understand why I would want to join a prop firm. I make money, so I dont need funding. I work at my own pace, and I research trading strategies in my own facility without having to travel to another office to go to work. I don't see what benefit a successful futures trader would see from working in an office with other perhaps less successful traders. Lefty.
 
Quote from Lefty62151:

Hello;
I trade futures. I dont really understand why I would want to join a prop firm. I make money, so I dont need funding. I work at my own pace, and I research trading strategies in my own facility without having to travel to another office to go to work. I don't see what benefit a successful futures trader would see from working in an office with other perhaps less successful traders. Lefty.
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For one thing you are trading with the firms money - so you are risk free. Try putting on a punt with 100 cars of ZB when you might lose $20,000 in 5 minutes -with your own money.
 
Quote from roberk:

For one thing you are trading with the firms money - so you are risk free. Try putting on a punt with 100 cars of ZB when you might lose $20,000 in 5 minutes -with your own money.
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I understand stocks prop firms require some capital from the trader. Isn't it the same with futures?
 
Quote from golden_childe:

most of you guys have no clue what you are talking about and that is painfully obvious.....

there are guys at my firm who take positions larger than you will ever have the margin for......BECAUSE they trade for a prop shop....and NO no one puts up their own money....all company funded...

there ARE a FEW guys who just rent desk space, but they dont use ANY comany money, and thus arent prop traders.....

and we all got 3 mos of training, PAID training, before we ever started trading.....
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golden childe

May I ask how long you have been trading for ?

If it's not longer then 7 years you might want to keep the insults to a minimum because it takes a minimum of this long to even really have a clue and wait till you get to 20.

:p
 
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