New Scalper at a Prop firm, cause for alarm?

Quote from Shrad7178:

H I had to put down a capital contribution and receive no salary (seems like a fairly standard deal).

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However, the manager seems more concerned with recruiting new people than helping those who are left.
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thats how day trading prop firms make money. they are boiler rooms except that the suckers seek them out.
 
Quote from rosy2:

thats how day trading prop firms make money. they are boiler rooms except that the suckers seek them out.
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You're right that they can be quite dirty in both their recruiting and treatment of new traders. Unless you're Bright, which actually offers (I assume) an effective training service in some diversified strategies. But the cheaper prop firms offer an undeniable service.

The standard firms thrived when everyone was trading internet stocks, then they found a niche when the ex-Worldco folks beat the NYSE scalping horse to death, and now I can't exactly imagine what's going to happen next when that lot washes out with the Hybrid NYSE.

Prop firms do offer many advantages if you know what you're doing though (i.e., if you're not exploiting some fragile edge, or you're not a gambler). I would not trade through any other outfit. Got all the leverage and speed I need.
 
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