What's the logic of the capital requirement at a prop firm?

Don is right. Not to mention no Medicare and Soc Security taxes for LLC partners as opposed to employee traders.

If you are not willing to put up some $, what does that say about your confidence in your own ability?

Dont have the money - come on! Anyone can come up with $10k if you are serious enough about it. You are going to find it MUCH easier putting together the $ to be able to join a prop firm, than actually making a good living trading once you get there.
 
i'm a prop trader - you are a moran !!! i went there with nothing and now i don't ever have to ever work another day in my life if i don't want to. now what do i drive today my 360 spider or diablo?
 
Originally posted by bigwadocash
i'm a prop trader - you are a moran !!! i went there with nothing and now i don't ever have to ever work another day in my life if i don't want to. now what do i drive today my 360 spider or diablo?
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Even a moron knows how to spell moron.
 
Originally posted by esc_trader
Don is right. Not to mention no Medicare and Soc Security taxes for LLC partners as opposed to employee traders.

If you are not willing to put up some $, what does that say about your confidence in your own ability?

Dont have the money - come on! Anyone can come up with $10k if you are serious enough about it. You are going to find it MUCH easier putting together the $ to be able to join a prop firm, than actually making a good living trading once you get there.
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I do not believe that for one minute.

There are some seriously huge traders that trade at Shony and Worldco and ETG. They could afford to come up with 10K - pfft, for many, that's the P/L on one of twenty trades that day.

The difference is the psychology of the person. Some people, no matter how much money they have, would rather be putting other peoples money at risk (it is silly that they think it is other people's money once you are successful and know what you are doing, but people are made of flesh and blood.) Others could never be bound by the rules of a firm, take 3 tests, have ticket charges, have anything less than 99.9% payout, etc, etc.

Take a look at DaytraderNYC, Silk, Hitman, Duffingman, ertrader, etc etc. Anyone of those guys could come up with 25K today to trade on their own - but they don't because where they are works for them.

nitro
 
I am talking about those that only want to risk other people's money. Guys who are already successful and are making $ every day ARE risking their own money (the money that they earned the day before).

I'm talking about the newbie that wants everyone else to take the risk. Doesn't make much sense in a game where we get paid to take risk, we don't get paid to pawn the risk off on others.
If you aren't willing to take the risk, you have no right to the rewards.

As far as Hitman, etc.. and others at Worldco and Shoney, I doubt they are the big swingin' d**ks who have $25k to burn - I used to read his threads and he was lucky to get positive at least half of the days from what I could tell, and didn't these two firms lay off a ton of people?

I can see the sense of taking the employee deal, only if your style makes it more profitable with 30% payout and no comms, compared to 100% payout and a commission rate.

I urge all employee traders to get their sack in their hand and put up their own personal $ to trade, and if they really are big swingin' d**ks that have already made their fortune, then they are crazy for not setting up their own prop firm
charging .01/share to other traders. Now there is your reward with little risk!
 
Originally posted by esc_trader
I am talking about those that only want to risk other people's money. Guys who are already successful and are making $ every day ARE risking their own money (the money that they earned the day before).

I'm talking about the newbie that wants everyone else to take the risk. Doesn't make much sense in a game where we get paid to take risk, we don't get paid to pawn the risk off on others.
If you aren't willing to take the risk, you have no right to the rewards.

As far as Hitman, etc.. and others at Worldco and Shoney, I doubt they are the big swingin' d**ks who have $25k to burn - I used to read his threads and he was lucky to get positive at least half of the days from what I could tell, and didn't these two firms lay off a ton of people?

I can see the sense of taking the employee deal, only if your style makes it more profitable with 30% payout and no comms, compared to 100% payout and a commission rate.

I urge all employee traders to get their sack in their hand and put up their own personal $ to trade, and if they really are big swingin' d**ks that have already made their fortune, then they are crazy for not setting up their own prop firm
charging .01/share to other traders. Now there is your reward with little risk!
More...

In regards to all employee traders not having a sack;

IF YOU had a choice:
A: Use and learn trading on the capital of the firms until you know that trading IS the right fit or not.

OR

B: Using YOUR capital(im right out of college with loans) and risking your own money.

SOME people are stupid and would chose B over A like esc_trader. You get the same reward(using capital to learn how to trade) with more risk. From your logic, esc_trader, you are definately not born to trade. You cant evaluate risk correctly. lol. ALSO, Some firms, once you become profitable, do offer you the opportunity to put up your own money and change the original deal.

Hope everyones having a good day trading.

jc
 
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