another mook crapped out in the prop world and is now looking to complain and find someone to blame...big surprise. You didn't make it...that's all. And this is why prop trading is dying out...cause firms back guys like you who have no clue. Forget about the transition to hybrid...if you're good, you'll make $$...end of story.
My Experience at a Prop Firm
- Thread starter pineman
- Start date
Mo, there is no mathematical way to get around the failure rate in trading. It's about 80% to 90% across the board. It does not matter if it's Refco, Swift, Worldco or Schonfeld.
What you are falling victim to is survivorship bias. You are only seeing the winners at those firms. The losers get discarded, and quickly. The main difference between let's say between maybe Assent and Swift, is that unprofitable traders will hang around longer at firms where they deposit their own capital because there is no one that will throw them out per se. At firms where traders are backed, their shelf life is very short. If they don't make money, they are gone. That is the deception you are seeing.
How can I beat the IB 2.90 R/T rate on most equity indicies I trade???
Anybody?
Great thread here interesting banter.......
Looking for a futures shop tht will benefit from my trading and visa versa-
dont need the leverage- need the commissions down - IB fills and commisions arent all that great
Anybody?
Great thread here interesting banter.......
Looking for a futures shop tht will benefit from my trading and visa versa-
dont need the leverage- need the commissions down - IB fills and commisions arent all that great
I have to respectfully disagree with you on this particular point. Sure, if you're a good trader at home, you have a much better chance to make more money by going prop.
However, since most retail traders are stuck with PDT rules, and trade with $25K, they cannot take part in many of the strategies that work so well when you can use a $million or more (the opening only for example, longer term Mergers and pairs, etc.). Having "leverage" does not mean simply buying/selling larger share size, it means tha you can engage in more sophisticated strategies.
FWIW,
Don
