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Prop in London, UK
- Thread starter marklucas
- Start date
A few people have asked me this now by PM also.
Basically, I trade prop from a UK firm based in London. I trade automated and semi automated systems. I prefer to stay a little anonamous so rather not say which firm but they are a big player on Eurex and, to lesser degree, CME and LIFFE. They also offer stocks and just about any other instument to people who know how to trade.
Anyway, my only point is that not all shops require money down if the individual (trader) is of high quality. The industry is full of both crooks and genuine firms offering real services. You just need to do some research and seperate the good from the bad.
To the OP - if you have no real trading experience (vs paper) with your system, you might have trouble convincing most props / arcades. There are hundreds of successful back tests out there being pitched around by crooks and idiots. That is why many might ask for money down as insurance. If you like, send me some details (product, system stats and trading frequency - not the actual strategy) and I'll take a look. If the system were really good, you could potentially even setup a structure to trade the strategy via a 3rd party and not even have to leave work.
Basically, I trade prop from a UK firm based in London. I trade automated and semi automated systems. I prefer to stay a little anonamous so rather not say which firm but they are a big player on Eurex and, to lesser degree, CME and LIFFE. They also offer stocks and just about any other instument to people who know how to trade.
Anyway, my only point is that not all shops require money down if the individual (trader) is of high quality. The industry is full of both crooks and genuine firms offering real services. You just need to do some research and seperate the good from the bad.
To the OP - if you have no real trading experience (vs paper) with your system, you might have trouble convincing most props / arcades. There are hundreds of successful back tests out there being pitched around by crooks and idiots. That is why many might ask for money down as insurance. If you like, send me some details (product, system stats and trading frequency - not the actual strategy) and I'll take a look. If the system were really good, you could potentially even setup a structure to trade the strategy via a 3rd party and not even have to leave work.
Quote from bunds:
Hello CBuster,
What is the expected number of ticks to be made trading the bund futures in a prop firm or arcade in London?
If one can extract on average 5 ticks per day trading from 5-100 lots, would a prop firm consider this person?
Bunds
Hi bunds - I saw your previous thread on this topic. A prop firm would take a person for sure if they were averaging 5 ticks per day, obviously dependant on the down days and drawdowns not being too big. for prop shops, it's all about consistency. There is no "expected" number of ticks as such, AFAIK.
Quote from bunds:
CBuster,
1. Lets say one is able to pull out 20-25 ticks per month, up and down weeks but on a monthly basis acheiving this target. Is there prop firms that will back someone 100% in the city?
2. how many contracts would the firm expect you to utilise per trade to make it profitable/feasible for them to employ you?
I think you're looking at it the wrong way. You sound like you think a firm would expect you to trade big size from day 1. wrong. unless you have a track record of real trading, they will start you on a 1 lot. if you hit your targets, you up the size. if you consistenly hit your targets over and over, eventually you'll be trading 100 lots +
Not sure what gives you this idea that you can make 2 ticks per day or whatever. Are you trading? You sound pretty fixated on the numbers whereas the real way the arcades operate is steady improvement, consistency and then steadily build size.
Hay cbuster, heres a question for you...I have been a self-funded trader for 5 years now, and have a consistent and profitable track record. I have traded at one city based arcade and two others well outside the square mile.
I am contemplating a backed deal so that i can scale up my strategy and look at more products aswell. Could you recommend some reputable firms please??
I'd appreciate any advice,cheers
I am contemplating a backed deal so that i can scale up my strategy and look at more products aswell. Could you recommend some reputable firms please??
I'd appreciate any advice,cheers