Madison Trading
- Thread starter wercurna
- Start date
what do you want to know. i am guessing your talking about the one in NYC. i think there deal is no money down and high ticket prices. they give you 2 17inch monitors and sometimes 1 monitor even. they also are very tight on risk management and watch you like a hawk. if your new to trading it might be worth it but i don't think much of there deal.
is tight risk management a bad thing??
If you are using your own money to trade - it is your choice and no one should ever tell you what to do.
If you are using firm capital - you better listen. That money they are lending you is not free. If I am at a prop firm that provides leverage - I want their risk control as tight as possible on me and everyone else - to make sure everyone is safe from the guy who wants to...
"die on his own choices."
He will die and bring the firm under.
So tight risk management is good - especially since they don't require traders to put down capital.
Not many guys I know at this firm pay much attention to this site. Basically Madison is a corporate partner of Generic. Yes the commision rate is high $.01 a share. However the deal is truely proprietary, meaning no money down.
As for being watched like a hawk by the risk management team, if you lose more than $100 in a day trading a 100 shares of any NYSE stock than you should be shut down for the day. Firm loyalty is pretty huge there. Thats why no one says much about the ticket prices. You leave, you don't ever come back, and from what I understand, 90% of those who have left have tried to come back at some point. Its a team atmosphere where people share ideas so that everyone can succeed.
As for being watched like a hawk by the risk management team, if you lose more than $100 in a day trading a 100 shares of any NYSE stock than you should be shut down for the day. Firm loyalty is pretty huge there. Thats why no one says much about the ticket prices. You leave, you don't ever come back, and from what I understand, 90% of those who have left have tried to come back at some point. Its a team atmosphere where people share ideas so that everyone can succeed.
