Need some input from proprietary traders

Quote from SWScapital:

Just to clarify. The offer came from a small BD with a proprietary trading group. Not a prop shop. I dont even get close to 1 million shares a month. Trading 1mm it would be more like 30k. I play small and swing big...1-3% of equity per position, wide stops and points. Not .01-.05 per trade...nothing wrong with those methods...its just not for me.

Don..you would hate having my account. :)
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Thanks for the clarification....(still hard to generate any revenues), but much better than I first thought. I wish you all the best, and we'll be here when you're ready.

Don
 
Yes, can we get the name, and how much trading experience do you have to get that kind of buying power offer, or how many years of profitablity did you have?

Congrats, sounds like a good deal to me.
 
Quote from Don Bright:

...I trade for 10 minutes on the opening...
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Say what?! Only 10 minutes a day?

Just curious. May I ask how your performance has been this year? (Please don't tell me to review your >200-page journal.) Specifically, the amount you tend to risk relative to the outcome (on average) and an approximate win/loss ratio. I'm genuinely curious. Of course, I am not asking for any dollar figures, as that is none of my business.
 
I'm sure if it were profitable, he'd put more time into it!:p :D


Quote from Thunderdog:

Say what?! Only 10 minutes a day?

Just curious. May I ask how your performance has been this year? (Please don't tell me to review your >200-page journal.) Specifically, the amount you tend to risk relative to the outcome (on average) and an approximate win/loss ratio. I'm genuinely curious. Of course, I am not asking for any dollar figures, as that is none of my business.
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Quote from Cramerholic:

Yes, can we get the name, and how much trading experience do you have to get that kind of buying power offer, or how many years of profitablity did you have?

Congrats, sounds like a good deal to me.
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Sorry cant name drop. Been trading since 2001..in the money since 2003. The offer came from a money manager and analyst who likes my ideas....networking got me the gig.

You guys would be surprised how many trading firms there are out there with positions like this...they just dont advertise..mostly hire through reco`s or networking. A good place to start is to google "trading llc" or something like that...get creative. Start a newsletter showing your performance and give it away....blog your actual trades....if you make money they will find you.
 
Quote from Thunderdog:

Say what?! Only 10 minutes a day?

Just curious. May I ask how your performance has been this year? (Please don't tell me to review your >200-page journal.) Specifically, the amount you tend to risk relative to the outcome (on average) and an approximate win/loss ratio. I'm genuinely curious. Of course, I am not asking for any dollar figures, as that is none of my business.
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Our latest boot campers (brand new traders) had a 78% win/loss ratio with an overall (net) win of 2.5 cents per share.

I tend to average about 80% win-loss.

I have another (larger) trading program, but I just post up the smaller (under 10 stocks) to set an example.

Don (sometimes longer than 10 minutes, but that's usually a bad day...)...LOL
 
The deal sounds good to me if you are a swing trader, which I think you said you are. Good luck. I wish I could find something similar to your deal. PM me if you dont mind... :)
 
Just curious as to what it is you teach in the boot camp. Not the specifics of course but are these new traders and you are teaching them about the market and using indicators or just training on your trading system. Or is it teaching your specific methods and signals for them to use? Again I am not asking for specifics, just in general because my impression was that experienced traders mainly go prop to trade so all they really need to learn is how to use the platofrm for trading and what the rules are so to speak.

Quote from Don Bright:

Our latest boot campers (brand new traders) had a 78% win/loss ratio with an overall (net) win of 2.5 cents per share.

I tend to average about 80% win-loss.

I have another (larger) trading program, but I just post up the smaller (under 10 stocks) to set an example.

Don (sometimes longer than 10 minutes, but that's usually a bad day...)...LOL
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the place i'm at doesn't churn for commish. I'm totally new, but we're allowed to start holding some positions overnight. Not much size though...its like those places where they start you out at 100 share or 1 lot...you don't really know how much bp you have or anything like that because you are only allowed to do 100 share/1 lot.

But yeah, I guess we are kinda like that. And I posted something before saying my boss wasn't profitable. Well it turns out he is this month. Had some earnings plays I didn't know about and has been up the past week...and that was enough to be green.

Its odd, because we're all playing with his money...none of it is ours. I don't know if its right to call it a prop firm...its just some trading group.

Anyways, good luck to everyone.


Quote from TruthTeller:

I've never heard of a prop firm that wasn't after intraday churning for commissions. Are you saying that they will support swing trading and take 50% of profits after using their capital?

If so, I'd like to have the name.
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Quote from Don Bright:

This is a perfect example of (extremely) poor "deals" for anyone. These "prop" firms think they are pulling the proverbial "wool over your eyes."

Just go with me here:

Average decent trader trades 1 Million shares per month.

You pay 2 cents per share = $20,000.

Or you pay .0075 (3/4 of a cent), that equals $7500.

You're paying $12,500 too much to the firm (every month), which is impossible to overcome...and even if you do, you only get 50%...this is absolutely insane.

Unless your numbers are wrong, this is a foolish (but typical) deal for those who think they can get in without any cash deposit.

Put up $10K or so, save the $12,500 per month, keep all your profits.

Don
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This is a perfect example of (extremely) poor "deals" for anyone. These prop firm OWNERS think they are pulling the proverbial "wool over your eyes."

Just go with me here:

Average decent trader trades 1 Million shares per month.

You can pay .0075 per share with Bright, that equals $7500

Or you can go to IB and trade at .005 per share, that equals $5000.

$2500 per month, that's a mortgage payment!
 
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