Prop firm research

Have you tried using the search feature on the site. Thanks for including the information on the firms you've researched. Although CY does not charge a platform fee, there are data fees, they're minimal but you should know about them. Also you will need esignal because the charts on laser are laughable.
 
Quote from pere490:

Well first I would like to congratulate you for pursuing to trade professionally with a prop firm because it is a very good learning experience. Second at my first shot at prop trading I was trading with 5k account and let me tell you it is almost impossible to make a living or even maket pocket change with a 5k capital contribution. The costs involved with trading can buzz through a 5k account very quickly even if you are profitable or breakeven. If you don't mind burning through 5k for the learning experience go for it. I think most traders well spend 30k or much more in many cases for training, learning losses, and the tools that you will need to be successful. I don't want to be negative but that is the reality of professional trading.

Send me a private message and I will be glad to give you more details.
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I agree that you can't make a living on a 5k account. My current theory suggests that you need at least as much capital as you want to make in a year. For example, if you need 50k a year to live reasonably then you will need at least a 50k account.
 
As a newbie you would really be much better off in a office for the first couple of months because you will have a ton of questions and no support to help. If you get in the right office with a good bunch of traders and the right manager it is worth more then you know. With it being the start of summer break from university it would really be worth looking into if there is a floor you can trade on until mid August and then go remote after you get your newbie questions and mistakes out of the way. I can not speak for any firm that will be then another because within every firm there are a few goods floors were people are willing to help and with it every firm there are floors fill with people that are not help at all. Do you research no what your getting into, in the meantime if you have any question about what the prop world is really like send me a pm
 
Don, I took this out of your article and have a question. I don't see how firms who do this would be making money? For example, let's say a firm doesn't make money off commission and only charge 0.0002 per share. And just ask you to pay for losses if you have any. Is there any wrong in doing that? It would seem the firm would have true vested interest in the development of their traders.


"Some groups claim that you will be trading with “the firm’s money,” thus placing you into a quasi-employee status. Their deal is to charge you $5,000 to $15,000 or more as a training fee. Then they’ll let you trade in very small increments until you lose a bit and then they’ll let you go, thus keeping most of that fee."




Quote from Don Bright:

Many have found this article very helpful.



I receive dozens of phone calls and hundreds of emails each month from those who think they want to get involved in trading for a living. So much of our industry is simply misunderstood that I thought it was time for an analysis, hoping to help those in their quest.

Complete article:

http://www.traders.com/Documentation/FEEDbk_docs/2009/10/close.html

FWIW,

Don
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There is a simple rule for prop firms.

Avoid any firm that sounds like it could moonlight as an overnight trucking service.

That really cuts down on the number of firms for ya.
 
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