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Looking for a prop trading firm
- Thread starter Gueco
- Start date
Quote from Gueco:
I am just looking for ways to leverage my knowledge. I don't know much about prop firms so I thought I'd learn and maybe that could be a way to do it.
You have 10+ years of experience, thats quite some time under the belt. You should pretty much be good to go. Trading is pretty much on the job learning.
Prop firms are primarily for people who do not have enough capital to trade a retail account and/or also need lots of help. (ie how to open a position/close a position, understand what an order book is etc..) So at the prop firm you get a guy sitting next to you and training you on these basics.
You should stay with a retail account, don't worry about finding a prop firm.
Quote from KINGOFSHORTS:
... your expenses are significantly lower trading as a non professional using a retail account.
Ummm... not true by any stretch.
While licensing and data costs might be a few $k per year, the amount saved in commissions + execution via a good prop house will more than offset that.
Quote from KINGOFSHORTS:
If you have 10+ in equity experience, you should by now at least have 500K in assets. You don't need to join a prop firm. You should be well capitalized and your expenses are significantly lower trading as a non professional using a retail account.
I actually agree, if you have $500k to trade with, add retail margin, then you can probably make a decent living...if you are a top trader.
If not, then you might want to surround yourself with traders (online trading groups, etc.) and use a Firm's capital to trade with.
Remember, 99% of retail traders are trading with their firm, their orders don't normally make it all the way to the trading floor or ECN. And, those rebates for taking and providing liquidity really help our people, FWIW.
Don