New Trader Trainee- Advice on Firms

Carlin group sounded interesting. I don't live in NY, but they were very friendly when I e-mailed them. Seems like they have nice training.

That is just a first impression though. Seemed like they were very professional and have their own platform.

Who knows?
 
If you put up 5K, you get a better payout right away than if you come in strictly prop (zero money up).


Quote from newguy1:

i thought caliber financial management, the place where steve t works at, didn't require a capital contribution. (this was a few months ago)

have things changed?
More...
 
Hello,

I have a question to ask FaderTrader. I notice you talked about of a trader running late and didn't really mattered at the time you were trading with Chimera Capital, "I saw one arrive at my firm yesterday at 9am jumping out of his dad's dry cleaning van (seriously) and running up like it actually mattered that he was late".

What I don't understand is on their site (http://chimeracapital.com/faq.html) under FAQ's one of the questions is "What hours do Chimera's employee work" and they said are M-F from 8:30am - 5:00pm. So like any job, the employer expect you to be there on time. Can you please explain why it didn't mattered if the trader came late? I'm new here and trying to understand more on prop shop.
 
Quote from FaderTrader:

Stay as far away from Chimera as possible. Chimera is it's own trading group, unlike Prestige which houses many groups. Needless to say, Chimera doesn't feel the need to compete as vigorously because they don't have other groups around them pitching candidates right next to them (not that groups within Prestige are allowed to poache - they aren't - but having other groups around has the effect of encourage lower rates generally). Chimera also puts up all the money for you - but in the end - it's not worth it.

I started at Chimera - nobody has any BP and the owners are tight-asses. The owners (well, only one trades) position trade intraday while they force everyone else to scalp. At Chimera, do not expect to take advantage of trending days - they'll force you out of winning positions if they think you are holding too long. They want thier commish!

Just STAY AWAY FROM CHIMERA. Shit, they don't really even like thier noobs to look at charts!! You REALLY think you can make money getting chopped up by fake bids and offers?

Oh, by the way, Chimera doesn't even tell you the rate or split until you arrive for your first day at work, so I'll just tell you:

All in per share = .01 ($10 per ticket)
Split = You 75%, Them 25%
They also lock you into a one-year non-compete

A final note:

There is an influx of asians at these firms. There is nothing wrong with that in and of itself obviously. But, it begs the question that perhaps asians make better scalpers (my own first-hand impression is that they are huge gamblers)? I saw one arrive at my firm yesterday at 9am jumping out of his dad's dry cleaning van (seriously) and running up like it actually mattered that he was late.

If you are asian (since 9 out of 10 of Chimera's noobs are asian), your first good trade would be fade the expectation that you are going to get chopped up scalping. Ever wonder why so few of your asian trader friends make any money? These firms prey on your race for a reason (gambling tendencies) - use that to get in and then deploy a less random strategy.
More...

lol. btw 1 year non compete is not long as well
 
Quote from FaderTrader:

Stay as far away from Chimera as possible. Chimera is it's own trading group, unlike Prestige which houses many groups. Needless to say, Chimera doesn't feel the need to compete as vigorously because they don't have other groups around them pitching candidates right next to them (not that groups within Prestige are allowed to poache - they aren't - but having other groups around has the effect of encourage lower rates generally). Chimera also puts up all the money for you - but in the end - it's not worth it.

I started at Chimera - nobody has any BP and the owners are tight-asses. The owners (well, only one trades) position trade intraday while they force everyone else to scalp. At Chimera, do not expect to take advantage of trending days - they'll force you out of winning positions if they think you are holding too long. They want thier commish!

Just STAY AWAY FROM CHIMERA. Shit, they don't really even like thier noobs to look at charts!! You REALLY think you can make money getting chopped up by fake bids and offers?

Oh, by the way, Chimera doesn't even tell you the rate or split until you arrive for your first day at work, so I'll just tell you:

All in per share = .01 ($10 per ticket)
Split = You 75%, Them 25%
They also lock you into a one-year non-compete

A final note:

There is an influx of asians at these firms. There is nothing wrong with that in and of itself obviously. But, it begs the question that perhaps asians make better scalpers (my own first-hand impression is that they are huge gamblers)? I saw one arrive at my firm yesterday at 9am jumping out of his dad's dry cleaning van (seriously) and running up like it actually mattered that he was late.

If you are asian (since 9 out of 10 of Chimera's noobs are asian), your first good trade would be fade the expectation that you are going to get chopped up scalping. Ever wonder why so few of your asian trader friends make any money? These firms prey on your race for a reason (gambling tendencies) - use that to get in and then deploy a less random strategy.
More...

rofl...you think this guys a trader who couldn't make it.

let's see this information is just umm...WRONG.

First off the split at chimer is 30% you 70% them at first and in tier's upward. 2ndly, the ticket cost is .004 or 4$ per ticket...not 10.

2ndly, every parter trades.

3rd, no one has ever forced me in or out of a trade. However they do keep a limit on what you can do overnight eventually once you've proven some success you can make week and month long position plays.

Don't let people on forums affect your decision...that's ridiculous, he's clearly a disgruntled ex-employee.

"Keep away from people who try to belittle your ambitions. Small people always do that, but the really great ones make you feel that you too, can become great."
- Mark Twain
 
This thread is only 2 years old, who cares?
Quote from tcouvares:

Don't let people on forums affect your decision...that's ridiculous, he's clearly a disgruntled ex-employee.
More...

...and you are clearly a shill for Chimera!
:D
 
Hi Everyone,

happy thanksgiving! Can you please tell me what you think of chimera and if it is a prop and chop shop as they call it?

I've been reading a lot about how props make money off your trading fees which they call chop props?

Thanks so much! Any info would be greatly appreciated!

I want to enjoy my holiday but am quite disappointed on the 2 year old posts on chimera and was wondering if there are any updates.
 
You must log in or register to reply here.
Back
Top