Just wondering if these exist anymore. My experience with prop was with a variety of prop, {chimera, hlv, epiphany, paramount, golden market, WTS, CFT financials, ect ect) Many of which were unregistered bds. If anyone out there knows of a place, I'd love to know. If i'm being contacted by a firm directly, I have profitable sheets for the year,, videos of every day, ect, can contribute 100k, roughly 5 million shares a months, 10 if its busy. I currently use a retail account, first time ever doing that, and its fine, but could probably do better. also have passed SIE, but did not find a deal that made sense, hence no reason to pursue 57.
so of course not. Here is a good example of a failed deal. Unlike futures prop, which honestly makes no sense to me now { i'm not talking about what I see currently, these "tryouts", but back in the day when a simple IOM seat was 10x what it is now, a horrible 2k desk fee and being backed made sense as an idiot noob with no capital or experience/ability to survive} That would be a successful deal 10 - 20 years ago, a 50 50 split on horrible fees, maybe even a draw with marked up coms. By successful I mean it actually would exists, would happen. You obviously don't see that now for a variety of reasons. ( execution inefficiency, training a monkey to hit green when they see green/{ARB lol }...the market obviously became more efficient. { think spreading the NYSE specialist....vs what you see now.} The problem I find now, simply is I'll ask a very simple question when speaking to the few regulated prop firms in the U.S. "Is this going to be profitable for you?" I'll give very specific stats, the most important being I make on average .01 maybe .02 per. So if I get a .004 deal, that would be almost 40 percent to 20 percent of my gross profit, forget exchange fees and nscc, sec, TAF. ect. Do you people exist? { I know you do, but every firm I encounter cannot take U.S citizens, firms that have deals I'm used to .0002, 80/20) I don't even care about the security of my "deposit"/first loss. I've been with 5 firms that for one reason or another evaporated overnight with my deposit, I could care less. I'm honestly not asking for much. I'll give a simple example Total gain/loss: $3562.26 Largest gain: $2028.35 (show) Average daily gain/loss: $3562.26 Largest loss: $-810.51 (show) Average daily volume: 256984 Average per-share gain/loss: $0.03 That's today. so if you just take a .004 on volume, its roughly 1k out of my total, so i end up with 2.5. but thats assuming no split lol. Right now i'm just using a trash retail " no commission broker" . When I worked it out, I'm basically paying .0015 per share. { try taking liquidity from the offer and see your non displayed post show up on the bid only after the price has upticked, slided. } { same as having an ARCA MPL ALO order { arca mid, add liq only } Can any of you people on this board help? This industry is pure trash now. I used to come here to know more about the industry. Knowledge aside, i don't doubt there are many people that know more from a technical/knowledge based business} but in terms of finding a deal, its just trash.
aka, this industry, its consolidated enough to the point/efficient, that message boards like this have no review on prop firms. I'll give a simple example, leaning on size. That would of cost an unprofitable amount of money to have a programmer incorrectly work on it, while simultaneously figuring it out only after that edge/free money was gone. There is no free money in the market now, hence you don't hire idiots, even someone profitable like me, that would produce enough volume to cover 20\30 percent of a clearing arrangement with some fuck like ETC, even thats not enough. Even with a "deposit". 5k, 25k, who care, that used to be normal. Even with 100k, it doesn't matter. The irony is that I don't even need the leverage, I'm just trying to not have my platform go out every month { And I'm so nice lol, i'm talking 1hr delays on a market order....}
The other reason I probably don't see unregulated sub llc's anymore, outside of the fact that it would be frowned upon/regulated, is from volume as a revenue center. If your business is built on marking up, how many sheep can you fleece if your entire business model was decimated by: PFOF {robinhood } Lack of volume, { due to regulation, less button hitters } a.k.a where is the money coming from? Its what makes me wonder how places like swift/the new swift, "trader tv live." are able to survive. Maybe they aren't scum bags.
I don't even care about the security of my "deposit"/first loss. I've been with 5 firms that for one reason or another evaporated overnight with my deposit, I could care less. What?
what is your question.... posting " what? " , ( not trying to be a dick ), doesn't 1. answer/help me in anyway\my reason for posting. 2. my own curiosity doesn't even have a target ( i literally don't know what you're pondering. Instead of posting " what? " you could have posted anything, like " grapefruit", its that arbitrary. So again, in asking "what is your question", i'm truly asking what is it? You don't need to respond here, because it will just get tormented by nonsense/antagonistic people on the internet. But feel free to pm me and explain what you mean by saying " what?" ( on a side note, trying to understand/learning, it would be hard for me to say it wasn't worth it ).
I found it amazing after loosing money with 5 such "Firms" you are saying "I don't even care about the security of my "deposit"/first loss."
I might be too old for this to make sense but try to understand where I'm coming from, why i would say that. Back when i started, 2002/2003, it cost about 7 dollars per 1000 shares at a firm where you were " backed" on a 50/50 split. I'm not knocking that deal just fyi, very much appreciate the opportunity. The irony is within my first 3 months I asked to have a 20/80 split, 20 for me, no draw/salary, but have a rate at cost { or my contribution to their clearing arrangement, something closer to a .001, .002 vs .007 } So if you can see the scenarios in which that would make sense, you can understand why I wouldn't care about losing a deposit with an unregulated " prop firm ". To make it more concrete, I didn't care if I lost a 20k deposit with a shady firm if I was going to make more in 1 month with them/save money on commish vs. retai.
I probably didn't explain myself clearly, but the best example I can give is this: 1. trader does 10 mill in volume a month. How much does that cost to execute? a. variable, all depends. But assume its .007. So thats 70k in commish. b. again, variable But assume its .0002. Thats 2k in commish. If you only make say 20-50k a month gross, you can see now how this matters. So can you see why I wouldn't care if I lost my "deposit" with a firm that offered scenario B. vs. A.? You could have the most "secure" firm insured by xyz, but on a scenario A., it only takes 1 month of profit to rationalize why the aforementioned scenario B. makes sense.
And not to be a dick, { tell me if i'm wrong! }, but your answer was as follows: "I found it amazing after loosing money with 5 such "Firms" you ..." What that implies to me is you think of a prop firm differently then me. More specifically if you do a simple google search of a prop firm, you'll find something inline with "winning" and "losing" via a tryout, am I wrong? { I would never assume blindly, but the idea of "losing", with a prop firm is probably a talking point in which we are coming from completely different experiences. }