The Prop Trading Industry EXPOSED

[bonds]

Quote from USAtrader:

You must be some supertrader to require not one, not two, but three prop shops to make sure you have adequate backup and to take advantage of "certain [supersecretspecial-no2-bi-turbo] platforms" .

At the same time you were at 3 firms, and while you were a profitable trader, all 3 screwed you.

You had (have) your 7 (6, 55) hung at 3 firms at the same time. Nice guys at these firms, except in the payment area, of course.

You seem to be really obsessed with my trading for whatever reason... yes i am profitable but that is no big deal... i am owed money by 3 firms which is well overdue, that is my concern.

When I'm promised money on a certain date and it hasnt been paid then i've been screwed, and yes its been by 3 firms...


I think instead of questioning someone who's been succesful at what he's been doing you should concentrate on your own trading so that one day you can trade multiple accounts as well...

 

[mcelitetrader]

Wow....i was under the impression that elitetrader was a forum for traders to share ideas and find solutions to what is a unique career.

I will verify that bonds has the profits to back up his comments and has not once attempted to inflate either his trading abilities or successes.

This thread has become one of the more frustrating reads I have been through on elite. I have to comment that all of the "traders" out there with jealousy and spite for any trader making money is shameful. That any trader would be happy to see a fellow trader having problems and troubles is just baffling.

Prop trading allows you to trade without licence or certification....to answer the smart aleck comments about series 7 etc....obviously this business of limited certification and insured accounts attracts a certain type of character and bonds has run into three of them.

The other comment was not to PM yet multiple people have sent out PM's for mentorship opportunities, to sell software and attempting to pawn off new trading setups (that is the definition of irony). Is someone really going to jump to a firm that approaches them from a message board......? I have on numerous occasions attempted to contact traders to find out where they trade and how it is going and what their deals are etc. This board gives us as traders the ability to use our strength to get the real numbers out into the open so traders can arrange for better setups that suit their needs. The responses to this thread make me question why people are even on this message board. To the people with solid ideas about possible solutions my thanks and good trading to you. To the others....

 

[USAtrader]

LOL.

I (and the other members here) question just your "account" of the situation, not your success. Look, if you did lose money an account of the firm, sucks for you. As others here know, I was a wldc "victim". Then again, I am fortunate and thankful for having ended up at wldc, despite the loss.

Regarding being "obsessed about [your] trading": I don't care about your trading, just your "account" of what has occured. It is inconsistent with what any of the long-time profitable trader here knows. That is: what are the odds 3 firms, at the same time, screw over a successful trader. Emphasis on the period.

Don't get your panties up in a bunch.

We're still waiting for just ONE NAME.

Quote from bonds:


I think instead of questioning someone who's been succesful at what he's been doing you should concentrate on your own trading so that one day you can trade multiple accounts as well...

 

[Maverick74]

Quote from USAtrader:



As others here know, I was a wldc "victim". Then again, I am fortunate and thankful for having ended up at wldc, despite the loss.

What years were you at WLDC? I may have asked you this before. I was there 2000-2002.

 

[artis74]

One name and what product. Very simple questions that you cant seem to answer.

It is pure hilarity when some one gets caught in an exageration.

 

[bonds]

Quote from artis74:

One name and what product. Very simple questions that you cant seem to answer.

It is pure hilarity when some one gets caught in an exageration.

Excuse me what am I exaggerating about?

 

[Sanjuro]

I just saw this thread but it sounds like you're making out ALL Prop firms as cheats according to your title of this thread.

This may probably apply only to the few firms you've worked at so therefore you are exaggerating...

Quote from bonds:

Excuse me what am I exaggerating about?

 

[bonds]

Quote from Sanjuro:

I just saw this thread but it sounds like you're making out ALL Prop firms as cheats according to your title of this thread.

This may probably apply only to the few firms you've worked at so therefore you are exaggerating...

My exact words were "The bottom line is if you're thinking about going prop stick to the few that are proven. Don't be lured by higher payouts and promises only to be broken."

How does that mean ALL prop firms are cheats?

 

[Hydroblunt]

Quote from mcelitetrader:

I have on numerous occasions attempted to contact traders to find out where they trade and how it is going and what their deals are etc.

Yeah and I am still strying to figure out what the hell supertrader Bonds trades. This thread is pure comedy, he has been asked at least 3 times without any insults or direct attacks just about that. Let alone to even name one firm or give a hint, at least as a precaution to others, as well as curiosity.

So let me get this straight, he actually had 3 accounts at the same time at 3 firms. How is this even possible. No TRUE prop would let you trade at another TRUE prop at the same time, many contracts involved. Then there is the licenses issue.

Also, sounds like he was trading from home? So then he isn't really prop but really more of a retail account? Once again, his story lack any real details, just some kind of a barrage how he made well over 6 figs in 18 months from DAY ONE and he is owed money by 3 firms.

Last time I heard of someone getting screwed like that, the persons were actually getting what they deserved. Equity "prop" is shady business, but only out of mistakes, personal quarrels or stupidity would even one of these firms screw over a supertrader like that.

But hey, if we can at least figure out what financial instruments he trades, it might be the first detail that will hint that he does actually trade something.

 

[artis74]

"im convinced that 90% of these prop places are all crooks most likely run by ex traders who couldnt make a dime trading so they've turned to alternatives to making money"

This is your quote and your exageration.




Last time Ill ask any chance we can get a name or what product /style required multiple accounts with different firms at one time??