Would like some advice on proprietary trading firms.

Status
Not open for further replies.
Quote from StuckeyBowler:

I believe the three firms I mentioned don't have this problem. I've talked to actual traders at these firms, and yes, they all get paid on a regular basis. I'm sure if a firm never paid their traders they would not be in business for very long. Which firm do you know of that doesn't pay its traders? I would really like to know so that I can avoid them.

I know I want to trade. My point of this thread is to ask for advice about firms, not about whether or not I should trade, which is what you are consistently trying to stuff down my throat.



Dude, are you reading my posts? Not once in any of my posts did I say that you should not trade. I have friends that trade prop and said that I wasn't totally against them. They can be a good stepping stone. All I was saying is that you should only consider the reputable ones who can accomodate your needs. As a Princeton grad, I would think that you would have acquired certain skills rather than attacking blindly. You asked for advice on firms and I gave you some.
 
You guys are all good peole for the most part. I have been coming to this site from months.

I have an observation to make about this thread:

This particular thread was created for one of two reasons:

1) For marketing purposes of one of the firms that is
CONSTANTLY mentioned in these posts;
2) To get people to say bad things about certain firms so that
those firms could hold you responsible for all of the bashing
that has gone on against particular fims. Which, if you are
not aware, has affected their reputation in the industy, and
affected their prop trader customer base.

Those of you trying to answer questions on this thread are over looking why this thread was setup.

Wake up people and smell the coffee.

You're being suckered. And, they did a pretty good job at it by the looks of the posts on this board.

My favoite quote: Think outside the box

In this case, it would have helped you guys.
 
Quote from reg:



I have to agree with Calibertrader on this one. The firms you mentioned (Assent, Worldco, etc) are all decent firms. They are well capitalized, they are not boiler room operations, and there are traders in these firms making decent money even in a market like what we have now. Since you're not doing volume yet, paying .007 or .005 in commissions won't make much of a difference to you. You can always negotiate for a lower rate once you start making money.
Visit the offices again, single out which office you feel most comfortable with (taking into account the managers, traders, etc) and take that leap of faith and join up with them. You will know a lot about prop trading and about prop firms once you actually start trading on a full time basis.
There is no way you will get all the answers you need in a message board. The longer this thread gets, the more confused you will become.
Use your own good judgement, and take that leap.
BTW - you may also want to consider Generic Trading (www.carlingroup.com) and Schonfeld. Both have numerous offices in the NYC area.

What are you smoking? You probably trade prop for Andover or Worldco.
 
Quote from OVERtheLINE:



calibertrader.......
gimme a break... dude your making a bunch of assumptions, passing judgement and labeling people..
you should get ripped to shreads over this crap

Are you nuts, have ETG and Schony just recently not closed offices? I have several friends that run different shops in this business, and 1/2 mil+ a year guys basically do not exist. So where is the liable in what I said.

Overtheline, you're the type that just likes to take the opposite of any argument, and most people I talk to on Elite have realized that and just argue with you for the sake of arguing. They really could care less what u have to say, plus read your own post, it doesn't make sense, and good job using a thesarus to come up with fancy words.
 
Quote from calibertrader:



Are you nuts, have ETG and Schony just recently not closed offices? .........

which office(s) did ETG close??? i thought they just bought 3 from Protrader.
 
Quote from calibertrader:



I have several friends that run different shops in this business, and 1/2 mil+ a year guys basically do not exist.


caliber: That is precisely the reason why turning down a trading job at a top investment bank is a poor decision. There are plenty of 1/2 mil a year guys in the corporate world.
 
Quote from alterego:



caliber: That is precisely the reason why turning down a trading job at a top investment bank is a poor decision. There are plenty of 1/2 mil a year guys in the corporate world.


Do you really think he 'turned down the job" ??? Do you really think he just graduated from Princeton?...Again, you are all being conned into a conversation/debate...How would you like to be this guy's parents? You just shelled out about 200k to send your boy to one of the best schools in the country and when he graduates, he turns down Lehman brothers and decides to trade 5k in a prop account at one of the aforementioned schools??? LMFAO!!!:p What a joke....wouldn't it have been easier to just take 50k from your folks and trade ?? No...you spend 200k to get an Ivy league degree and without even given your chosen field a shot, you jump strait into prop trading ??? Funny:p
 
You guys are all good people for the most part. I have been coming to this site from months.

I have an observation to make about this thread:

This particular thread was created for one of two reasons:

1) For marketing purposes of one of the firms that is
CONSTANTLY mentioned in these posts;
2) To get people to say bad things about certain firms so that
those firms could hold you responsible for all of the bashing
that has gone on against particular fims. Which, if you are
not aware, has affected their reputation in the industy, and
affected their prop trader customer base.

Those of you trying to answer questions on this thread are over looking why this thread was setup.

Wake up people and smell the coffee.

You're being suckered. And, they did a pretty good job at it by the looks of the posts on this board.

My favoite quote: Think outside the box

In this case, it would have helped you guys.
 
Status
Not open for further replies.
Back
Top