why prop and not futures?

you can aim at credits from ecns and not care about the kinda accuracy that you'll aim at in futures. but on the other hand, some prop firms allow you to trade futures at ridiculously low charges. in that case, its worth it.
for example i believe swift charges around $ 1.1 for a RT for ES futures.
 
I've done both, and I prefer trading in an office, but trading futures. I have been looking for a good futures "prop" for quite some time. There are not many of them. Working alone from home gets old really quick. I have a hard time staying in front of my monitors. I blow it off a lot after the first hour or two. I make more money in an office environment even if I am doing nothing the same as the other guys in the office.
 
I believe (from my very very preliminary conversation) Echotrade, for instance, gives you huge leverage but takes nothing from your earnings since you trade your own money. They make money thru commissions and (maybe) the use of their system by paying a fee.


Quote from optioncoach:


I will repeat... there are many prop firms out there that you can trade your own capital, have access to big leverage and keep 100% without desk fees if you trade remote.

got it :D?

I am wiser in the sense that I read the context of the sentences ;).
More...
 
Quote from Jayford:

I've done both, and I prefer trading in an office, but trading futures. I have been looking for a good futures "prop" for quite some time. There are not many of them. Working alone from home gets old really quick. I have a hard time staying in front of my monitors. I blow it off a lot after the first hour or two. I make more money in an office environment even if I am doing nothing the same as the other guys in the office.
More...

This is something I have been thinking about for some time, and I wonder if it might be a new business model, or perhaps just an idea for traders to take up. (Or maybe an old idea -- the origin of the prop shop or investment club?)

I believe there is a need for the physical equivalent of a trading chat room. In other words, traders who don't necessarily need most of what prop shops offer (although some aspects might be helpful), but who would rather trade in an office, and in the company of other traders.

Similar to an executive suites arrangement (Barristers Suites, Fegen Suites, etc) except for traders rather than lawyers. There is also a similar arrangement for writers in LA where they pay by the hour (but it is silent in that room). I know of a few traders who rent offices with non-traders just to avoid the isolation.

I'm imagining a shared office space arrangement, with some basic qualifying step (like being profitable for minimum time period, or being voted in after a trial period). Some costs would be shared (internet connections, platforms, coffee) and others would of course be borne individually (commissions), some could be optional (hardware). Availability of prop firm BP is good.

Not sure whether traders are dense enough in any commutable geographic area (maybe downtown Chicago or NY?) for this to work. Probably not in LA.

Likely the main problem would be organizing a starting group that could get along together. Especially if ET flaming is any indication of traders' personalities. But I also see so many ETers who love to help and teach.

Just sort of exploring/free associating here. Does this already exist somewhere? Do you think it would work as a business or as a type of private club? What do you guys think?
 
Offices certainly have a benefit. I trade full-time from home and it is hard to resist the fridge or TV when the market gets into a lull lol. Also apart from the baby and a cat, no one else to BS with or chat (why I am on ET during the day a lot). I still prefer the house for now but in a year or two I may look for that office environment somehow ;)

Quote from spinner:

This is something I have been thinking about for some time, and I wonder if it might be a new business model, or perhaps just an idea for traders to take up. (Or maybe an old idea -- the origin of the prop shop or investment club?)

I believe there is a need for the physical equivalent of a trading chat room. In other words, traders who don't necessarily need most of what prop shops offer (although some aspects might be helpful), but who would rather trade in an office, and in the company of other traders.

Similar to an executive suites arrangement (Barristers Suites, Fegen Suites, etc) except for traders rather than lawyers. There is also a similar arrangement for writers in LA where they pay by the hour (but it is silent in that room). I know of a few traders who rent offices with non-traders just to avoid the isolation.

I'm imagining a shared office space arrangement, with some basic qualifying step (like being profitable for minimum time period, or being voted in after a trial period). Some costs would be shared (internet connections, platforms, coffee) and others would of course be borne individually (commissions), some could be optional (hardware). Availability of prop firm BP is good.

Not sure whether traders are dense enough in any commutable geographic area (maybe downtown Chicago or NY?) for this to work. Probably not in LA.

Likely the main problem would be organizing a starting group that could get along together. Especially if ET flaming is any indication of traders' personalities. But I also see so many ETers who love to help and teach.

Just sort of exploring/free associating here. Does this already exist somewhere? Do you think it would work as a business or as a type of private club? What do you guys think?
More...
 
I will actually try starting something up this spring when I move to San Diego. There is a futures prop there, but they charge a hefty desk fee, and take 50% of profits. I am consistent enough that I'd rather take 100% risk and 100% profits.

If I get something started up (already have a few interested parties), I could care less if the others are profitable, or even know how how to trade! I just want other people there talking about the markets. If they have good ideas, fine. That isn't the purpose though. Hanging out with traders while trading is the purpose. Forced discipline as well (remaining in front of my screens).

Jay
 
Quote from optioncoach:

Offices certainly have a benefit. I trade full-time from home and it is hard to resist the fridge or TV when the market gets into a lull lol. Also apart from the baby and a cat, no one else to BS with or chat (why I am on ET during the day a lot). I still prefer the house for now but in a year or two I may look for that office environment somehow ;)
More...

This is exactly what I've got right now. Full time at home alone and it's pretty damn isolating. I just now got back from a shared office suites business here in the western suburbs of Chicago and for a 128 sq. ft. Class A office space, including furniture and internet (T1 access), they wanted $1128 a month.

Good god... Even taking out the $100 mth for the T1 rental (their ala cart pricing) and say $100 for the desk/chair rental, that's $87 a sq ft!!!!

NOWHERE out here is more than $40 a square for Class A office space.

Sigh... I'd sure like to find five full time trades and rent an office, furnish it and charge everybody no more than $500 a month all in.

That'd be worth it to me to get out of the house.
 
Quote from steve0617:

This is exactly what I've got right now. Full time at home alone and it's pretty damn isolating. I just now got back from a shared office suites business here in the western suburbs of Chicago and for a 128 sq. ft. Class A office space, including furniture and internet (T1 access), they wanted $1128 a month.

Good god... Even taking out the $100 mth for the T1 rental (their ala cart pricing) and say $100 for the desk/chair rental, that's $87 a sq ft!!!!

NOWHERE out here is more than $40 a square for Class A office space.

Sigh... I'd sure like to find five full time trades and rent an office, furnish it and charge everybody no more than $500 a month all in.

That'd be worth it to me to get out of the house.
More...

I can empathize. The days I am not chatting with my trading buddies on skype the boredom is just killer. I believe some people join trading rooms not for the calls, but for the company and to fill the boredom of day trading. Like us posting on ET, in between trades.

Why not trade out of say Advantage Futures, they rent space, or so I have heard. I would consider it if I was in Chicago, but I am in Denver, no prop shops of any kind here.
 
Quote from dandxg:


Why not trade out of say Advantage Futures, they rent space, or so I have heard. I would consider it if I was in Chicago
More...

I did look into them, but, unless I misunderstood, I would need to trade through them, and I'm very happy with my current broker/software/etc.

I'm simply looking for a shared infrastructure environment where I could be around other traders, but doing my own thing.
 
Welll I do not want an office simply to be alone in an office. If in a year or two I raise funds I might move to an office for some professionalism (yeah right!). Or as you say if I can find other traders but here in Washington, D.C. not as easy as Chicago or New York.

But for now, being able to get up from the screens to check up on my 6 month old son is well worth it. And sometimes the cat and I have some interesting conversations when I am not on EliteTrader.

Mix into those things that I also catch the Ellen show and Oprah once in a while means I am not only become a better trader but also turning into a woman :eek:

But seriously after working in an office for almost 10 years I love the house right now despite the small downside and it will take some time before I switch back to having to rush to leave the house.


Quote from steve0617:

This is exactly what I've got right now. Full time at home alone and it's pretty damn isolating. I just now got back from a shared office suites business here in the western suburbs of Chicago and for a 128 sq. ft. Class A office space, including furniture and internet (T1 access), they wanted $1128 a month.

Good god... Even taking out the $100 mth for the T1 rental (their ala cart pricing) and say $100 for the desk/chair rental, that's $87 a sq ft!!!!

NOWHERE out here is more than $40 a square for Class A office space.

Sigh... I'd sure like to find five full time trades and rent an office, furnish it and charge everybody no more than $500 a month all in.

That'd be worth it to me to get out of the house.
More...
 
You must log in or register to reply here.
Back
Top