Prop firms - trading or teaching?

[louispino]

Quote from stock777:

to make 3/8 now, you have to sit through 75 retracements.

I use to make 3/8ths on trades all day long and split that between us on the sales floor & trading dept..... everyday gross mish was like 3k.

Then I became a SOES trader and starting making that by lunch picking off GSCO,etc...dang how i miss those ole easy days.

They really ruined the market by going to decimals.

But same ole rules still apply, just gotta trade the 'right' names, triple digit one. Or catch the bounce on the biggest tanker of the day.

 

[Maverick74]

Quote from jeffgold:

I have been trading for almost 18 years and I just find it annoying how when I was recently shopping for a trading floor, 99% of these floors were just interested in selling classes. I never walked into these firms letting them know the full extent of my experience, due to the fact in this biz you always have to keep an open mind to learning new things. But most of these floors were less than 1/2 occupied and I think that they should be concentrating on filling their seats and less on classes.

I find this very hard to believe. Do you live in downtown Phoenix? Seriously, there are maybe 50 prop firms in Chicago and maybe one of them is in the train to play business. Maybe one! If you are going to make statements like that, at least name the city where you are shopping for a trading floor.

 

[ronin266]

I think that if a prop firm cares about THEIR inversion in YOU, they would train you for free. Because:
1.You will trade their money, you can lose 100000 in one trade, so is in their interests to prevent you from that situation;
2.They receive a % (if that is the case) of your profits, so it is in their interests to make that profits grow;
3.The more you know how to trade, the more volume you trade, and the more commission they will earn from you.

If they don´t care about you, then something is missing in your knowledge about the firm. And that´s important.

If they ask you money for training, read this:
http://www.proptraders.net/prop-firms-should-you-pay-for-training/