Prop Traders:

Discussion in 'Professional Trading' started by chasinfla, Sep 6, 2011.

  1. what's working these days?

  2. Their home printers. Furiously printing out their resumes.

    HFT has dwindled the prop ranks to a fraction of what was around just 2 years ago. And the guys who are still battling are doing much less volume and making A LOT less money.
  3. Why are they making much less $ ?
  4. wildshoe


    why exactly is prop not as profitable....?

    i read that report that that one guy made about not hiring any new people and laying off the deadbeats from his prop shop and how sad he was, but he didn't really indicate what about the markets meant trading isnt working for them...
  5. dealmaker



    Registered: May 2002
    Posts: 3194

    09-06-11 07:31 PM

    what's working these days?


  6. I would argue that it's the deadbeats that run prop shops.
  7. scalping
  8. scalping BAC, F, S, SIRI, etc.
    EMA crossovers working well for signals
    most events nowadays are driven by economic policy and other macro events.
  9. The pennies that prop guys made per shares traded each day were gobbled up by HFT. This has happened across the board from pit traders to mouse clickers.

  10. You must gain beyond your trading for continuing to pitch this AWFUL strategy. It works if you live in Bangledesh and can live on $300 a month.

    Otherwise, you waste your deposit at mysterious sub LLCs, and you waste your life spending 6 months at the lowest tier firms learning a skill which basically ruins you ever getting a trading job again, and looks pathetic on a resume no matter what industry you apply to.

    You can get the money back, but no one makes livable money doing this in the US, and 6 months of your life you'll want back later.

    #10     Sep 20, 2011