Prop Futures

Quote from casharb:

Everyone here seems to think that their is paradise on the prop futures trading side. Well I am here to say that is a bunch of B.S. How do I know? I work for one. These firms or a least the one I work for is making the majority of their money on commissions. All the traders at these prop futures firm turn lots of contracts a day anywhere from 1000-10,000 a 10-60c markup over exchange member fees adds of big at the end of the year!
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I agree... Most firms make money with commissions. Prop futures trading is not a paradise. It is a paradise for me but it's not a get rich quick thing people expect. If you get rich quick then you will most definitely get poor quick someday.

Anyways... some trade not more than 10 spins a day. There's different firms and some firms can take the longer time frame.

You just gotta do the research about a firm that fits your style. Most of the traders at firms are at break-even levels. You see some that are successful but the odds are really small. Turn-over rates are really high for most of the firms.

Well....It's an interesting world. I've seen more of the psychological aspects of traders who survive and some that don't. Younger college grads have a hard time and I see most have certain psychological characteristics that keep them away from making money.

Good trade!

trend

:D
 
Younger college grads have a hard time and I see most have certain psychological characteristics that keep them away from making money.
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Which explains why so many firms that recruit these youngsters have gone under.
 
Quote from spreadem:


Which explains why so many firms that recruit these youngsters have gone under.
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They still do. LOL.

I sometimes think they should get a stable job instead of dreaming about making millions. These kids have good academic backgrounds. I'm sure there's better ways to make money for them.

For me, I only know how to trade...:(

Good trade! :)

trend
 
Quote from spreadem:

Trading has ruined me too. Even though I can have another career doing something else, the desire isn't there.
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Dude...

I agree. Especially my social life.:(

You've gotta really like it.

Good Trade!

trend:D
 
Does anyone know what the ES commissions (ballpark area) would be with a Globex Terminal? It looks like the base fee is about $400.00/month according to the CME web site but nothing is mentioned about the commissions.

Also, thinking along these lines, does anyone know what the rates are (ballpark for ES) if one were to go to the trouble to lease a CME membership? What additional expenses besides the leasing fee, and the Globex terminal fee does one have to take into consideration? I'm trying to figure out what kind of volume one needs to do in order to make membership a worthwhile endeavor.

I know, I know - I could call them up but then I'd have to wait until Monday and these thoughts occured to me while reading this thread on a Saturday. So, I figured I'd ask the question here.

Thanks.

-eLindy


Quote from spreadem:

Now you've just increased overhead drastically
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a GLOBEX terminal will beat anything prop firms can offer and you don't have to split s* with anyone.
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Quote from downtickboy:



Pretty much what I know about GHCO was covered in the other thread. Tradelink does pay a salary but I think it is like 30K, but I think because of this you get a worse payout deal at first and a longer lock up. From what I know they trade mostly the Eurex and US bonds and soon will be adding eminis. I have heard both things about Matrix that is does and does not provide some kind of draw/salary. The people I know there mostly do high volume scalping in Chicago of all the futures - eurex, emini dow, es emini, ect. They have some good traders there.

By the way there is a guy on the board from Fastfill that named some other prop futures firms on a previous thread about this subject. I think his name was Risk less.
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hey downtickboy,

i'm a newbie here. I applied to Matrix Trading. And I'll have an interview with them soon. So, are you sure that they will pay salary or not? Do you know about payouts and commissions? I would like some kind of salary plus benefits would be nice in this tough market. Starting out you don't want the added pressure of trying ot learn and have no steady income.

just wondering...

misctrader
 
I heard great thing about them...Good luck. This business will dominate the equity shops. Long live the futures market. Let the thieves form the NYSE burn in hell. You can move size ....but you can not fool the pit for more than a few points. RIP NYSE. Their greed will bit them in the ass. I have a feeling that they will be a few good buys in the Hampton this summer. Greedy PIGS>>>>
 
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