Prop trader vs. trader @ major IBs

Quote from Steve Tvardek:

I did some research on you Mr. "Batman" You mentioned in one of your posts that you arent even a trader! And then you have the nerve to answer questions about prop trading. Get a life bro. I trade at a prop firm and have for 3 years so I think I know more about the subject than you.

The thread starter was asking about the difference between trading at an IB vrs "prop trading". Maybe its YOU who should go back and re-read the thread starters post because you obviously are confused. I dont give a shit if you werent talking about prop trading at a prop shop, but I believe the thread starter was.

My posts to you have nothing to do with the fact that you are new to elitetrader, we were all new here at one point. My issue is that you have no idea what you are talking about as far as this subject is concerned. Wise up kid.
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hey listen, BRO. firstly, im not a trader. I've said that in a good few posts. BTW, dont assume im 28 because of my id. I'm actually still a student. i do want to be a trader. and i bet i know more about trading & the markets than you do? huh? but maybe you're a better trader tho.

now regarding trading sir. I gave an outline of the difference between traders at IBs. i assume the guy who asked the question alreday knew about prop houses ..

i gave a clear outline of different traders at banks, as he assumed theyr all flow traders.

now you come out of no where naggin at me i don't know anything about prop trading? WHAT THE ?

anyways, whatever u ment, you didn't contribute to the thread.

let me tel u most big prop boys at banks arnt trend following peanuts otherwise theyll short ur little margin in seconds. although more recently we're seeing more hedge-fund-like teams set up. anyways in general, props are not all identical as prop-house traders, and they dont scalp with millions. other IB traders r solid hard workers.

anyways im not wasting my time on this any further.

have a nice day.
 
First off, I would love to hear what you know about the markets. You are still a "student" and have no actual trading experience. Please dont regurgitate macro economics or corporate finance either, I went to college too (graduated 2001).

Secondly, who ever said I always follow trends or that I dont go short? I have several coversions (married put positions) that allow me to sell on downticks and I sure as hell use them when necessary, especially this past week as oil and energy sold off hard from the highs.

Lastly, I have posted my P&L in the Trader P&L thread everyday for the last year and a half (along with about maybe 15 others). The point is that I actually trade for a living, so when it comes to trading related questions, I am the more qualified poster to answer, not you. I dont know much about IB trading, therefore I didnt post about it, but when I read your post about prop trading, I had to chime in because you were sooo off. Its very possible your understanding of prop trading is different than mine (you are British I'm assuming, based on your posts) so if thats the case, then its just a matter of semantics and I would apologize.

Quote from Batman28:

hey listen, BRO. firstly, im not a trader. I've said that in a good few posts. BTW, dont assume im 28 because of my id. I'm actually still a student. i do want to be a trader. and i bet i know more about trading & the markets than you do? huh? but maybe you're a better trader tho.

now regarding trading sir. I gave an outline of the difference between traders at IBs. i assume the guy who asked the question alreday knew about prop houses ..

i gave a clear outline of different traders at banks, as he assumed theyr all flow traders.

now you come out of no where naggin at me i don't know anything about prop trading? WHAT THE ?

anyways, whatever u ment, you didn't contribute to the thread.

let me tel u most big prop boys at banks arnt trend following peanuts otherwise theyll short ur little margin in seconds. although more recently we're seeing more hedge-fund-like teams set up. anyways in general, props are not all identical as prop-house traders, and they dont scalp with millions. other IB traders r solid hard workers.

anyways im not wasting my time on this any further.

have a nice day.
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hi again,

about the markets, ive read many many books and have followed lot of shit, theories, strategies and everything, i didnt mean macro micro. and i really do wish to be able to become a full time trader. i didnt say u dont go short, i said prop trader at banks dont. but the more new short terms ones are structured like hedge funds and do.

in my post i didnt a single thing about prop traders at prop houses. i assumed the guy posting the thread was already familiar with it and wanted to know bout banks. i was purely discussing traders at banks, and made contrast between flow traders and props at banks because he assumed traders at banks only execute.

my understand of prop trading is equal to yours. but I think you missed the whole point. and i don't think you will no matter how many times i repeat myself. i repeat, i was discussing prop traders at banks and their differences. and i don't think its bout being british.

anyways forget this im tired of it. good luck trading.

Quote from Steve Tvardek:

First off, I would love to hear what you know about the markets. You are still a "student" and have no actual trading experience. Please dont regurgitate macro economics or corporate finance either, I went to college too (graduated 2001).

Secondly, who ever said I always follow trends or that I dont go short? I have several coversions (married put positions) that allow me to sell on downticks and I sure as hell use them when necessary, especially this past week as oil and energy sold off hard from the highs.

Lastly, I have posted my P&L in the Trader P&L thread everyday for the last year and a half (along with about maybe 15 others). The point is that I actually trade for a living, so when it comes to trading related questions, I am the more qualified poster to answer, not you. I dont know much about IB trading, therefore I didnt post about it, but when I read your post about prop trading, I had to chime in because you were sooo off. Its very possible your understanding of prop trading is different than mine (you are British I'm assuming, based on your posts) so if thats the case, then its just a matter of semantics and I would apologize.
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Quote from Batman28:

hi again,

about the markets, ive read many many books and have followed lot of shit, theories, strategies and everything, i didnt mean macro micro. and i really do wish to be able to become a full time trader. i didnt say u dont go short, i said prop trader at banks dont. but the more new short terms ones are structured like hedge funds and do.

in my post i didnt a single thing about prop traders at prop houses. i assumed the guy posting the thread was already familiar with it and wanted to know bout banks. i was purely discussing traders at banks, and made contrast between flow traders and props at banks because he assumed traders at banks only execute.

my understand of prop trading is equal to yours. but I think you missed the whole point. and i don't think you will no matter how many times i repeat myself. i repeat, i was discussing prop traders at banks and their differences. and i don't think its bout being british.

anyways forget this im tired of it. good luck trading.
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Actually your a freaking moron dude. I can't believe you would ever try to give someone a hard time thats actually been trading for a living. Its a bit different than what you have done "read many books and have followed lot of shit, theories, strategies and everything,"" And you forgot to mention spend your most of your life on trading forums which give you info half the time that isn't true. Its fine to websites like this and take advice from seasoned traders but don't come and preach what you don't know.. I think you'll be receiving a huge wake up call your first week of live trading..
 
Sorry guys, I meant to discuss any difference between prop traders @ prop shops (like Schonfeld) vs traders at any major IB. I am just trying to get an understanding about trading at IBs vs. trading at prop houses.

In particular, why people have negative responses/impressions when talking about prop trading but then give two thumbs up when traders are from IBs?
 
Quote from Batman28:

wtf?

who the helllllllllllll said such a thing?


if u're good, got the records to back it up, show me and ill get u a desk at a IB. r u nuts? the truth is u, u need to be good..

how old r u man?

if u actualy know, prop traders r the ones look down on banks. most successful traders at IBs make millions for banks and dont get enough bonuses in their eyes. .so they leave and start hedge funds..

anyways, if u wanna be a trader at IB u need to be up to scratch. and if u're reallllllllly good, u wouldnt want to work for anyone. you'll go work for urself.

go google Steven Cohen. learn from the guy. no IB bullshit.
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This goddamn idiot is questioning how old other people are, then he retraces and says that he is really a student??? Trying, and i mean TRYING to be an imposter of someone who ACTUALLY trades is gonna get you nowhere idiot. Please leave this board immediately as it is hard enough to filter through the bullshit as it is. A poser of a poser, you rock!!!!
 
This place has gone real quick to unreadable. I have traded buy side, sell side, specialist, etc.. now everyone here knows everything? I trade on my own now, and still do 99% of my trades through the floor. I laugh and gag at most of the "pro traders" that post here. This place has become the Chappelle Show
 
Quote from B1010:

Actually your a freaking moron dude. I can't believe you would ever try to give someone a hard time thats actually been trading for a living. Its a bit different than what you have done "read many books and have followed lot of shit, theories, strategies and everything,"" And you forgot to mention spend your most of your life on trading forums which give you info half the time that isn't true. Its fine to websites like this and take advice from seasoned traders but don't come and preach what you don't know.. I think you'll be receiving a huge wake up call your first week of live trading..
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i dont spend most of my time on forums. i found this site recently and joined the forum to ask some important questions that i had. althought im not a trader i have traded various instruments including exotics in past internships. but purely simulations not real. im not great but i want to learn and be a pro. i genuinly felt i could be helpful on some of the posts ive read here. but im surprised.

on the requests of some of u ill leave this forum now. im not a little girl cryin, i simply dont have the time for this constant naggin. esp at this forum of all places. have a nice day.
 
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