Want to join a Prop firm

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Old Aug 17, 2010, 3:33am   #1
Joined Feb 2010
Want to join a Prop firm

Hi all,

I've been trading now fulltime for coming up to two years. I'd like to take this to the next level and would like to trade other peoples money. Are there any prop shops in the Birmingham area. If not perhaps some kind of online affair? Your help would be really very much appreciated.

The idea is to get my wife off my back who claims I do nothing but sit in my little room. I'm hungry to learn more.
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Old Aug 17, 2010, 8:08am   #2
Joined Mar 2007
Re: Want to join a Prop firm

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Originally Posted by Mr Flibble View Post
Hi all,

I've been trading now fulltime for coming up to two years. I'd like to take this to the next level and would like to trade other peoples money. Are there any prop shops in the Birmingham area. If not perhaps some kind of online affair? Your help would be really very much appreciated.

The idea is to get my wife off my back who claims I do nothing but sit in my little room. I'm hungry to learn more.
Have a look at http://www.fairvaluefutures.com they might be a very good option seeing as you are in birmingham
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Old Aug 17, 2010, 9:03am   #3
 
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Re: Want to join a Prop firm

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Originally Posted by Mr Flibble View Post
The idea is to get my wife off my back who claims I do nothing but sit in my little room.
Good grief man.

Take your skirt off, cancel your manicure, grow a moustache and...

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Old Aug 17, 2010, 9:23am   #4
Joined Nov 2008
Re: Want to join a Prop firm

What do you think you'll learn, how do you think you'll benefit at a prop shop? You want company? Why not take on a lease/licence on a 5 people office and trade from there for 100 quid a month each? For you, at your level, with your experience you'll derive no benefit for being at a prop shop..

You mainly trade forex, so rather than give your cash to a prop firm self invest it by making sure you're getting spreads of a pip or less on, for example, EUR/USD... How you gonna better that? You want NDD/ECN, you'll have to have a bigger account/s but that's all you need to do..

You're clumsily buying into the guilt that what you're doing isn't 9-5, you're also buying into the myth that being at a prop shop is somehow more credible/sexier...it isn't..
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Old Aug 17, 2010, 9:48am   #5
Joined Mar 2007
Re: Want to join a Prop firm

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What do you think you'll learn, how do you think you'll benefit at a prop shop? You want company? Why not take on a lease/licence on a 5 people office and trade from there for 100 quid a month each? For you, at your level, with your experience you'll derive no benefit for being at a prop shop..

You mainly trade forex, so rather than give your cash to a prop firm self invest it by making sure you're getting spreads of a pip or less on, for example, EUR/USD... How you gonna better that? You want NDD/ECN, you'll have to have a bigger account/s but that's all you need to do..

You're clumsily buying into the guilt that what you're doing isn't 9-5, you're also buying into the myth that being at a prop shop is somehow more credible/sexier...it isn't..
Ditto !!
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Old Aug 17, 2010, 11:17am   #6
D70
Joined Nov 2009
Re: Want to join a Prop firm

Mr Fibble,
I recommend you listen to posters that have actually worked in the industry.
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Old Aug 17, 2010, 11:23am   #7
Joined Mar 2007
Re: Want to join a Prop firm

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Mr Fibble,
I recommend you listen to posters that have actually worked in the industry.
again I must agree with the above comments , prop shops are not the be all and end all, I had been in prop rooms since their conception after I finished up on the floor, for the last few years I have been trading at home through an FCM/broker on better rates than those I would or rather did have at an arcade, I had started a thread on here about the subject "trading arcades have had their day" have a look its rather an extensive thread all about the subject that your asking. Do you really want to pay 2-3k GBP per month to sit there, then give a split of your profits away and be pressured into trading what they want you to trade or rather what is the most profitable for them commission wise?
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Old Aug 17, 2010, 11:46am   #8
D70
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Re: Want to join a Prop firm

Thanks weakpunter.
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Old Aug 17, 2010, 11:58am   #9
Joined Mar 2007
Re: Want to join a Prop firm

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Thanks weakpunter.
No probz D70!

tis the truth afterall , So many are fooled into thinking that they will be receiving the holy grail once they enter a prop/arcade room, things have come on so much last few years aswell technology wise i.e "moore´s law" and you can get very competetive priced leased internet,co-lo through brokers, tiny spreads with sp betting co´s there is little need for an arcade and I think progressively we will see a lot more prop traders leave
i.e as have done in the United States , the prop/arcade model stateside has been well in decline for the last 5 years.
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Old Aug 17, 2010, 12:27pm   #10
Joined Nov 2008
Re: Want to join a Prop firm

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No probz D70!

tis the truth afterall , So many are fooled into thinking that they will be receiving the holy grail once they enter a prop/arcade room, things have come on so much last few years aswell technology wise i.e "moore´s law" and you can get very competetive priced leased internet,co-lo through brokers, tiny spreads with sp betting co´s there is little need for an arcade and I think progressively we will see a lot more prop traders leave
i.e as have done in the United States , the prop/arcade model stateside has been well in decline for the last 5 years.
Good replies fella...now watch as Flibble wobbles and signs up for not so Savvi trading in a heartbeat...
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Old Aug 17, 2010, 12:47pm   #11
 
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Re: Want to join a Prop firm

Yup... and same arguments apply to trading for an investor as well - they'll be a bloody nuisance, honestly

Easiest to build the capital up yourself. I don't necessarily agree with everything posted about prop shops here, but the general gist is correct... they aren't going to be a good suit for you.

Where they could be of use is if you want to start working in the industry to help you meet with potential investors and other folk that would be of use... however you'd have to move out of brummie and it really isn't going to be worth the bother if that is all you want to do.

(and Black Swan is a rude mofo who don't know what he's talking about, but weakpunter and D70 do)
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Old Aug 17, 2010, 1:17pm   #12
Joined Nov 2008
Re: Want to join a Prop firm

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Yup... and same arguments apply to trading for an investor as well - they'll be a bloody nuisance, honestly

Easiest to build the capital up yourself. I don't necessarily agree with everything posted about prop shops here, but the general gist is correct... they aren't going to be a good suit for you.

Where they could be of use is if you want to start working in the industry to help you meet with potential investors and other folk that would be of use... however you'd have to move out of brummie and it really isn't going to be worth the bother if that is all you want to do.

(and Black Swan is a rude mofo who don't know what he's talking about, but weakpunter and D70 do)
Damn these covert moderators that I can't put on ignore...so tell me, do you mean in relation to this thread, or generally? Coz I reckon I'm pretty much spot on....with this thread... Total bo11ox the rest of the time...
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Old Aug 17, 2010, 1:37pm   #13
Joined Apr 2010
Re: Want to join a Prop firm

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Originally Posted by arabianights View Post
Yup... and same arguments apply to trading for an investor as well - they'll be a bloody nuisance, honestly

Easiest to build the capital up yourself. I don't necessarily agree with everything posted about prop shops here, but the general gist is correct... they aren't going to be a good suit for you.

Where they could be of use is if you want to start working in the industry to help you meet with potential investors and other folk that would be of use... however you'd have to move out of brummie and it really isn't going to be worth the bother if that is all you want to do.

(and Black Swan is a rude mofo who don't know what he's talking about, but weakpunter and D70 do)

If i worked with you, next to you, one of us would have to be moved or sacked. I would just end up f*ckin around all day and being immature.

I guarantee you someone would tell us both to "grow-up"..."stop being stupid"..."act your age"...etc etc.
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Old Aug 17, 2010, 1:52pm   #14
Joined Mar 2007
Re: Want to join a Prop firm

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If i worked with you, next to you, one of us would have to be moved or sacked. I would just end up f*ckin around all day and being immature.

I guarantee you someone would tell us both to "grow-up"..."stop being stupid"..."act your age"...etc etc.
around is not the correct word, each other is more appropriate.
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Old Aug 17, 2010, 4:31pm   #15
Joined Nov 2008
Re: Want to join a Prop firm

Excellent work..it took fifteen posts to descend into madness...
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