I don't think you understand. It cost a shitload of money to put you in that seat. There is an opportunity cost. They expect you to make 10 to 20 times that. I don't think you understand how these firms work.
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Yet Another Prop Firm Hiring
- Thread starter Maverick74
- Start date
I don't think you understand. It cost a shitload of money to put you in that seat. There is an opportunity cost. They expect you to make 10 to 20 times that. I don't think you understand how these firms work.
What type of max daily loss would they give you per day? 5k? 7k? 30k?
I still think you are exaggerating. Look at Schonfeld, they let like 1/3rd their traders go and they were grossing under 60k I believe. Also, look at even SMB Prop traders who are selling DVDs and courses. You really think they'd be selling DVD if they were making 25k per day ? Why would anyone even stay there? Also what is the opportunity cost?
Honestly, I'm somewhat familiar with prop firms and my take is that a lot of the traders aren't very profitable. If they're making so much money then why wouldn't they pay a salary? Doesn't make sense.
I still think you are exaggerating. Look at Schonfeld, they let like 1/3rd their traders go and they were grossing under 60k I believe. Also, look at even SMB Prop traders who are selling DVDs and courses. You really think they'd be selling DVD if they were making 25k per day ? Why would anyone even stay there? Also what is the opportunity cost?
Honestly, I'm somewhat familiar with prop firms and my take is that a lot of the traders aren't very profitable. If they're making so much money then why wouldn't they pay a salary? Doesn't make sense.
Quote from Maverick74:
I don't think you understand. It cost a shitload of money to put you in that seat. There is an opportunity cost. They expect you to make 10 to 20 times that. I don't think you understand how these firms work.
Quote from Lucias:
What type of max daily loss would they give you per day? 5k? 7k? 30k?
I still think you are exaggerating. Look at Schonfeld, they let like 1/3rd their traders go and they were grossing under 60k I believe. Also, look at even SMB Prop traders who are selling DVD tapes and thing. You really think they'd be selling DVD if they were making 25k per day ? Why would anyone even stay there?
Those are completely different type of firms. Most these firms in Chicago start guys at 10k daily loss limits. The more experienced guys can lose up to 100k a day. You're not flipping one lots at these firms.
Quote from Maverick74:
Desired Skills & Experience
Strong background in competitive sports or extracurricular activities.
.
Why the fuck do they require "strong" background in "competitive sports"?
Does it have anything to do with trading stocks?
A bunch of morons running this firm, I believe.
Quote from beachhouse:
Why the fuck do they require "strong" background in "competitive sports"?
Does it have anything to do with trading stocks?
A bunch of morons running this firm, I believe.
You will find that the norm for almost all prop firms in Chicago. You better have one of two things on your resume: sports or poker. I'm dead serious, I would venture close to 90% of all prop traders played sports in high school and many in college and pro. Sorry, that's just the way it is.
Quote from Maverick74:
You will find that the norm for almost all prop firms in Chicago. You better have one of two things on your resume: sports or poker. I'm dead serious, I would venture close to 90% of all prop traders played sports in high school and many in college and pro. Sorry, that's just the way it is.
A con artist is always a con artist. He just doesn't know what makes a successful trader.
By the way, are you associated with this "prop" firm in any way or shape or form?
You know, advertising for this firm requires a payment to ET! Have you made the payment?
Quote from beachhouse:
A con artist is always a con artist. He just doesn't know what makes a successful trader.
By the way, are you associated with this "prop" firm in any way or shape or form?
You know, advertising for this firm requires a payment to ET! Have you made the payment?
No, I have no affiliation with this prop firm. Seriously, this firm is legit. Almost every prop firm here hires athletes. Two of the top traders at Transmarket Group are ex-Michigan football players.