'Prop" then drop

Midas · Jun 18, 2009

Props povide leverage to licensed traders. That is far from a scam.

handle_this · Jun 18, 2009

So its coincidental that they are in the commission business too !

Quote from Midas:

Props povide leverage to licensed traders. That is far from a scam.

monty21 · Jun 18, 2009

Quote from handle_this:

This was supposed to be how prop's scam people now its turning into T/A

Please take that to PM, no big deal but there are thousands of ways to look at market.

Providing leverage and 100% payout is not a scam.

Advising newbies to take their $1,500 learning seminar is a scam.

Don't confuse prop firms which are no more than arcades.

Plenty of prop firms hire new traders where they have zero financial risk. Plenty of prop firms also pay base salaries (FirstNY).

monty21 · Jun 18, 2009

Quote from handle_this:

So its coincidental that they are in the commission business too !

Yes... arcades are brokers that provide leverage and usually a better platform than IB. What's the evil in that? That's the only way 100% payout places make money.

But arcades are not "real" prop firms.

Midas · Jun 18, 2009

Quote from handle_this:

So its coincidental that they are in the commission business too !

Of course not. They make their money from commissions. So what. Unlike margin requirements virtually all other markets, stock and bond trading is hobled by very low leverage.

The prop. firm allows you to trade with similar leverage that you get in futrures and other markets.

I make my living trading, and most of the money that I have made over the past 9 years has come from trading. I could not do many of my best strategies at a retail brokerage firm.

You seem to have an ax to grind, but the prop. business model works for many of us. If you do not like it, get a job or trade retail.

handle_this · Jun 18, 2009

Ok when you say make money are we talking 100k a year average ?

Why not trade futures, you get margin on margin if you get that ?

What edge do you have, can you leverage it, whats keeping you from making millions, equities are very scalable, if you can make 1500 a day consistent you can make 10k a day too.... very scalable..

Thanks

Quote from Midas:

Of course not. They make their money from commissions. So what. Unlike margin requirements virtually all other markets, stock and bond trading is hobled by very low leverage.

The prop. firm allows you to trade with similar leverage that you get in futrures and other markets.

I make my living trading, and most of the money that I have made over the past 9 years has come from trading. I could not do many of my best strategies at a retail brokerage firm.

You seem to have an ax to grind, but the prop. business model works for many of us. If you do not like it, get a job or trade retail.

Dustin · Jun 18, 2009

Quote from handle_this:

Ok when you say make money are we talking 100k a year average ?

Why not trade futures, you get margin on margin if you get that ?

What edge do you have, can you leverage it, whats keeping you from making millions, equities are very scalable, if you can make 1500 a day consistent you can make 10k a day too.... very scalable..

Thanks

With these questions you have a LOT of research to do before writing any articles.

-Many guys make 6-figs year-in-year-out myself included. In volatile markets 7 figures is not uncommon for some.

-Just because someone is a good trader does not mean you can trade any instrument.

-Most profitable traders will not reveal their edge...why would they? And equities are not as scalable as you think.

Midas · Jun 18, 2009

Quote from handle_this:

Ok when you say make money are we talking 100k a year average ?

Why not trade futures, you get margin on margin if you get that ?

What edge do you have, can you leverage it, whats keeping you from making millions, equities are very scalable, if you can make 1500 a day consistent you can make 10k a day too.... very scalable..

Thanks

I don't talk income on an open forum but I support a family of 4.

Some strategies are scalable some are not.

Why limit yourself to futures? I look for an edge..... any place I can find it.

handle_this · Jun 18, 2009

Quote from handle_this:

Ok when you say make money are we talking 100k a year average ?

Why not trade futures, you get margin on margin if you get that ?

What edge do you have, can you leverage it, whats keeping you from making millions, equities are very scalable, if you can make 1500 a day consistent you can make 10k a day too.... very scalable..

Thanks

However, making seven figures with 20mm AUM is not uncommon.

I think the issues here are what you define as prop and what you define as trading etc; Lots and lots of these places cut and run when you lose 5k, further they churn these kids for bro.

handle_this · Jun 18, 2009

Quote from Midas:

I don't talk income on an open forum but I support a family of 4.

Some strategies are scalable some are not.

Why limit yourself to futures? I look for an edge..... any place I can find it.

That is very good.

So you must be one in tens of thousands doing this.

Unless your trading millions of doallrs, thats another game completley. Different rules and syle than trading 50k account or less..... much.