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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Joined Dec 2009
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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Originally Posted by Black Swan View Post
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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