Several of my friends are prop shop traders. Me too worked at a similar one before. I tend to agree more with Bright. It's a lot of team effort, and working together to trade multiple markets and instruments.
The hire and fire type of firms do not have as high a burn rate as what Gridsman says, ironically because they tend to give full time employment only to interns who make money at least that was the impression I got. In a sense its fair, because it cant affect you too much if you get fired as an intern.
I quit bcos my boss paid me so low and the strategy that i was handled made so little money that my bonus would never make me comfortable. In the end I decided to change jobs and do something else altogether.
Here is an interesting article about how its like to work for a prop shop. Not much more than what you can read off this thread. But nonetheless interesting. http://finance4traders.blogspot.com/2009/06/tips-for-setting-up-your-own-trading.html.
The hire and fire type of firms do not have as high a burn rate as what Gridsman says, ironically because they tend to give full time employment only to interns who make money at least that was the impression I got. In a sense its fair, because it cant affect you too much if you get fired as an intern.
I quit bcos my boss paid me so low and the strategy that i was handled made so little money that my bonus would never make me comfortable. In the end I decided to change jobs and do something else altogether.
Here is an interesting article about how its like to work for a prop shop. Not much more than what you can read off this thread. But nonetheless interesting. http://finance4traders.blogspot.com/2009/06/tips-for-setting-up-your-own-trading.html.