Skill Leverage
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Does your money throw your toys out the pram for you as well?
Does your money throw your toys out the pram for you as well?
arabianights
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Shhhhh Fettes boy
Skill Leverage
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Fair cop guv'nor
arabianights
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Hehe
Skill Leverage
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Girl traders, like Sonia from Eastenders?
Skill Leverage
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Gecko what's the difference between the girl you just mentioned and a case of Bollinger
brutusdog
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whats the diff between jordan and a kit kat? you only get 5 fingers in a kit kat....
(or 1 kit kat chunky in the case of a certain trinidad/tobago footballer!)
trader_dante
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LOL this whole thread, obviously written with the intention, but clearly failing, to irritate, has got it completely wrong.
Ha ha, come on! What a very stupid comment.
Mind you, I can't blame one for thinking it as I used to think the same way.
You write that persons trading a prop firms money don't have the balls to trade their own but that's simply not true. Most of us do trade our own money!
But the real fact of the matter is, it's MUCH easier to make it from home even when it is 100% your own money on the line because you have none of the constraints that you have at a firm.
Scenario A
I trade from home I keep 100% of the profit. I pay tax only if I am trading direct market. Hopefully whomever started this thread is trading DM otherwise it's a joke to call prop traders girls...lol
Scenario B
I trade from a prop firm where I am given a small advantage in that it is not my money:
BUT:
a) I pay 50% of my profit away immediately to my backer
b) I pay around £2,000 each and every month to have the privilege of a desk (£100 per day)
c) I pay tax on my profits
d) I pay travel expenses (a minor point but still one worth noting)
Under which circumstance is it harder to get ahead? I think that with trading with your own money you perhaps have "bigger balls" from a psychological perspective but when you figure that for every £1,000 we both make, you see £1,000 and I see £320 it's not hard to see what takes more talent to come out ahead...
Just the way I see it...but having said all that that I do like the kudos of trading my own money which is why I got my job by putting my hard earned money on the line and running it up and still make a living trading my own money on the side as I withdraw nothing from my prop account, ever.
Ha ha, come on! What a very stupid comment.
Mind you, I can't blame one for thinking it as I used to think the same way.
You write that persons trading a prop firms money don't have the balls to trade their own but that's simply not true. Most of us do trade our own money!
But the real fact of the matter is, it's MUCH easier to make it from home even when it is 100% your own money on the line because you have none of the constraints that you have at a firm.
Scenario A
I trade from home I keep 100% of the profit. I pay tax only if I am trading direct market. Hopefully whomever started this thread is trading DM otherwise it's a joke to call prop traders girls...lol
Scenario B
I trade from a prop firm where I am given a small advantage in that it is not my money:
BUT:
a) I pay 50% of my profit away immediately to my backer
b) I pay around £2,000 each and every month to have the privilege of a desk (£100 per day)
c) I pay tax on my profits
d) I pay travel expenses (a minor point but still one worth noting)
Under which circumstance is it harder to get ahead? I think that with trading with your own money you perhaps have "bigger balls" from a psychological perspective but when you figure that for every £1,000 we both make, you see £1,000 and I see £320 it's not hard to see what takes more talent to come out ahead...
Just the way I see it...but having said all that that I do like the kudos of trading my own money which is why I got my job by putting my hard earned money on the line and running it up and still make a living trading my own money on the side as I withdraw nothing from my prop account, ever.
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Correct me if i'm wrong, but i'm assuming your company take 50% only when you withdraw your funds, so what do they think about not getting their money from withdrawals?
Also due to your trade frequency and style, isn't it debatable whether a prop shop is cost efficient for yourself?
Also due to your trade frequency and style, isn't it debatable whether a prop shop is cost efficient for yourself?
trader_dante
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No, they take their split when you reach the next "level" in a series of levels.
Each level you progress to, you get a higher percentage of profits.
E.g. 3 months profitability on 50/50 split and you go 60/40.
Reach £100,000 and you go 70/30 etc
(exact levels may have changed by now)
A prop shop is without a doubt not cost efficient for me. But then I put other things above cost efficiency...
I reckon bank and he is not far of the mark with the splits , even in such turbulent times if you are good you should be aiming for the 80/20 , 90/10. Splits .
And if you are in that leage for some time then you will consider like Dante Just clearing your own acc's through someone , and not being Prop.:smart: