We have no volume requirements. I don't think any firm has volume requirements. And we NEVER raise your rate. Which is why I made a point on this thread about offering a standard rate to new traders and then lower the said rate once volume levels are hit. We do this explicitly so we do not have to raise a trader's rate, even if they lied to us about their activity level.
My Experience at a Prop Firm
- Thread starter pineman
- Start date
We have no volume requirements. I don't think any firm has volume requirements. And we NEVER raise your rate. Which is why I made a point on this thread about offering a standard rate to new traders and then lower the said rate once volume levels are hit. We do this explicitly so we do not have to raise a trader's rate, even if they lied to us about their activity level.
Quote from optioncoach:
You have to cook Mav dinner and do his laundry until you meet your quota.
Wait...or was that just me...
MAV!
Phil, you signed a non-disclosure regarding the cooking and laundry. You best honor that contract and not discuss any details of the slave labor.
I think you can call TT and get on one of their simulators for 30 days as a trial.
Thanks Mav....
it seems to me that all the really good or great true prop traders are starting to band together to start a real hedge fund.
6 or 7 guys trading 1 account....in a real partnership ,with a real track record..raising and running real money
the market for these alternative investments also seems endless
some are even going public..ie fortress
it seems that the hedge funds are now where the day trading firms were 8 years ago..back then the technology was the hot thing now its intelligent money management..
the consistant prop trader,now must learn to trade real size,create real partners with whom they will work
not an easy thing to do ,after all most of these traders have been lone wolfs for years,competing against one another.
the big money will only be achieved these days via real cooporation,
the big prop shops should see this comming and foster the development of these new fast money hedge funds...while
maintaining a percentage of ownership
after all so many of us are as good or even better than managers who run billions. so now its our turn at the table.
6 or 7 guys trading 1 account....in a real partnership ,with a real track record..raising and running real money
the market for these alternative investments also seems endless
some are even going public..ie fortress
it seems that the hedge funds are now where the day trading firms were 8 years ago..back then the technology was the hot thing now its intelligent money management..
the consistant prop trader,now must learn to trade real size,create real partners with whom they will work
not an easy thing to do ,after all most of these traders have been lone wolfs for years,competing against one another.
the big money will only be achieved these days via real cooporation,
the big prop shops should see this comming and foster the development of these new fast money hedge funds...while
maintaining a percentage of ownership
after all so many of us are as good or even better than managers who run billions. so now its our turn at the table.
compensation
just like any other hedge fund, ie sac capital
its all one account .....with direct investments by its top traders on witch they recieve 100 percent of the profits on their own money they have invested in the fund minus the management fee of 2 percent and minus comissions
on money raised ie 100 mil...the fund would split equally among its traders and managing partners
20 percent of the profits and 0 percent of the loss...so if the 100 mil becomes 200 ...the 20 million dollar profit would be split say among say10 individuals......2 mil each.......plus or minus 35 percent based upon performance metrics ie sharp ratios ,absolute gain, consistancy, diversification etc
about 30 percent of any indivduals compensation is then generally
left in the fund as a direct investment as long as that individual is with the fund
all of the above is the new way....foward ..their are so many great individual traders that if just a handful really focused and came together the result would be staggering ..rivaling any roi on any fund presently out their...
and their are many other things that could be easily done to tweek the performance...and amount of capital raised even higher much higher
its time we stoped selfishly trading in our briefs ...trading 2000 share lots...alone in the dark..when we have the absolute talent
to trade 400000 share blocks...
yes/// when your green your growing when your ripe you rot
just like any other hedge fund, ie sac capital
its all one account .....with direct investments by its top traders on witch they recieve 100 percent of the profits on their own money they have invested in the fund minus the management fee of 2 percent and minus comissions
on money raised ie 100 mil...the fund would split equally among its traders and managing partners
20 percent of the profits and 0 percent of the loss...so if the 100 mil becomes 200 ...the 20 million dollar profit would be split say among say10 individuals......2 mil each.......plus or minus 35 percent based upon performance metrics ie sharp ratios ,absolute gain, consistancy, diversification etc
about 30 percent of any indivduals compensation is then generally
left in the fund as a direct investment as long as that individual is with the fund
all of the above is the new way....foward ..their are so many great individual traders that if just a handful really focused and came together the result would be staggering ..rivaling any roi on any fund presently out their...
and their are many other things that could be easily done to tweek the performance...and amount of capital raised even higher much higher
its time we stoped selfishly trading in our briefs ...trading 2000 share lots...alone in the dark..when we have the absolute talent
to trade 400000 share blocks...
yes/// when your green your growing when your ripe you rot
We have guys in our firm that pool p&l for managed funds. Pooling p&l though has a lot of pros and cons though.
this thread can be pretty much be summed up by one principle:
people rationalize their experiences as they see fit.
why don't we all call a spade a spade?
a prop firm is the reincarnation of the bucket shops of the past.
there is a reason why prop shops have a stigma attached with them.
people rationalize their experiences as they see fit.
why don't we all call a spade a spade?
a prop firm is the reincarnation of the bucket shops of the past.
there is a reason why prop shops have a stigma attached with them.