I wonder what some people look for. Because I just had 2 interviews with titletrading and I'm not sure I got the job. So, I may go with a remote prop firm. Anybody know if they're difficult to get into?
Is it difficult to get accepted for a remote prop firm?
- Thread starter coolpurplefan
- Start date
Are you <STRIKE>breathing</STRIKE> alive?
Do you have any<STRIKE> money</STRIKE> change in your<STRIKE> bank account</STRIKE> pocket?
If you answered yes to any of the above you can get a remote gig at Shill Trading. Tell Vito and Frankie that Pabst sent you and you'll get a special rate of 2 cents per side.
Do you have any<STRIKE> money</STRIKE> change in your<STRIKE> bank account</STRIKE> pocket?
If you answered yes to any of the above you can get a remote gig at Shill Trading. Tell Vito and Frankie that Pabst sent you and you'll get a special rate of 2 cents per side.
Times must have changed because I when I tried to go prop I had to send a resume, go on an interview, give references, and wait for the rejection 
Quote from ProfitTakgFool:
Times must have changed because I when I tried to go prop I had to send a resume, go on an interview, give references, and wait for the rejection
Props still ask for resumes, like they make you think it is some sort of job. I get a laugh each time I see it when these "unique broker" with a "technological advantage" spam CraigsList with their come-ons.
Well, from the interview process, they seemed to have a problem with the fact I had read on trading and already had experience. I think the idea of someone having ideas from books on longer term trading and fundamentals scares them. But, that's just my take from the way they were talking.
I think I have enough experience to be totally flexible on the way I could trade.
This of course depends on the defintion of Prop firm you are using.
The defintion of prop firm is a firm that takes 100% risk. Ie they provide the capital, sometimes training if you need it, nice cozy office, and if you are a bad trader they will loose some money on you. For that they will take a cut of the profits usually between 90%-50% of your profits. Usually a company that pays more than 50% will have whole bunch of strings attached, includin desk fees, deposit fees, safety deposits, software fees, enitlments fees etc. Examples of prop companiesSwiftTrade, TitleTrade, many Futures trading arcades (its becoming rare but still possible/not sure if I should put traders who work for banks in this category because they get payed even when they loose money.)
Thats why the interview process, if an office has hard time making money the process is fake they will take anyone hoping to get lucky with some trader being the next Szeven or the next lescor, if they have a couple gurus working then it's probably impossible to get in. Just ask szeven if he will hire you.
Operation that make money regardles whether a trader is positive or negative for the month are Retail Brokers, Ie Bright, alot of the subgroups from genesis, interactive brokers. They are not prop trading companies and traders working for them are not prop traders, they are just traders using a specific broker to get to the market.
These are my own definitions I am sure a lot of people will dissagre.