What prop firms have you worked with and which ones do you recommend or not?

[FStrader1980]

I disagree. having different routing options does indeed matter. there are quite a few scenarios in which having the better execution speeds assist even in manual/non-hft trading.

 

[zdreg]

Quote from FStrader1980:

I disagree. having different routing options does indeed matter. there are quite a few scenarios in which having the better execution speeds assist even in manual/non-hft trading.

we were not discussing routing opions but speed to the point of execution.

what specific manual scenarios are you referring to?

 

[HezBallah]

Quote from clearinghouse:

It all depends on your style. If you don't have a style yet, the prop firm's value is in being able to sit next to people who know how to make money (if there are any at a given firm.) If you don't see anyone making money at a prop firm day in day out and putting up multiple green weeks, don't walk -- run.

One issue with prop firms is that the guys who don't know how to make money are the ones that talk the most. Fetch coffee and make friends, if you must. The sorts of characters who shun a day job and go sit around in a prop trading firm generally are somewhat rough around the edges.

This is very good advice.

 

[Don Bright]

Quote from levalencia:

When I started reading about trading, I read about brokers, and the first ones I knew where thinkorswim, IB, Speedtrader.com, and some others.
These ones seem to be good, but as far as I know retail brokers are for people with 25K or more right?

So I have several questions:
1. If you have 100K why would you still use a proper firm instead of a retail broker?
2. I heard that one difference between them is that prop firms have DAS which means that orders go directly to the execution floor, and retail brokers, the order goes first to the broker, and then to the execution floor, is that a big difference?
3. When researching prop firms, whats the homework I should do?, In another post somebody asked me to request a focus report but international prop firms dont have it, I dont even know what a focus report is lol!!!


And the last question, which prop firms do you recommend, and which ones, you dont?

Our people who put up $50k can use $1million or more. If you're good enough to make 5% on your $50K, why not make 10 or 20 times that. One example, many other reasons.

Don

 

[oldtime]

how many times do we have to go over this?

if you like trading stocks

and are making consistent money

but you don't have enough to do it full time

then you are a good candidate for a prop firm

 

[oldtime]

if you like trading futures or forex, and can afford to open an account with 25 to 50k, you probably already have enough to do it full time.

that is, if you are consistently profitable

if not, it don't matter how much money they give you

as a matter of fact, the more they give you the worse it is going to be

if you are a stock trader, with 25 to 50k, you go to the prop firm to get money you couldn't get otherwise

I really have doubts about a trader's eventual success when they can't even figure out how this simple deal works

we're not even talking about trading the market

we're just talking about filling out an application

sort of like what you do when you apply for a drivers liscence

 

[ofthomas]

Quote from Don Bright:

Our people who put up $50k can use $1million or more. If you're good enough to make 5% on your $50K, why not make 10 or 20 times that. One example, many other reasons.

Don

You are no longer 25k buy-in?

 

[Maverick74]

Quote from ofthomas:

You are no longer 25k buy-in?

Inflation...blame the Fed.

 

[Maverick74]

Quote from Don Bright:

Our people who put up $50k can use $1million or more. If you're good enough to make 5% on your $50K, why not make 10 or 20 times that. One example, many other reasons.

Don

Anyone who is good enough to make 5% can be unlucky enough to lose 5% so 20 times that will wipe out 100% of their 50k. :eek:

 

[ofthomas]

Quote from Maverick74:

Inflation...blame the Fed.

lol... more like hyper inflation... ... still a good deal though, it will certainly show who is determined or not given that $50K is a decent amount in anyone's book....