Choosing a prop shop
since there was so much arguments about defining a prop shop and the intrusion of the ignorant axn103, let me ask, having no experience in trading, how should one choose the trading system that's the most suitable for you.
And which ones are the "top" prop shops.
You really can't get over me can you? You couldn't even move on and start another topic without mentioning me? Wow I really made quite an impact on this little bitty website we have here.
did you mean to say trading strategy?
yes, system/strategy.
if you know what type of strategy works for you... i would say go that route.
tolerating frequent losses and waiting for an outlier event is very different than capturing small gains with an occasional punch to the face.
the thing is i wouldn't because i never traded, let me rephrase, what qualities should i look for when i assess whether the prop shop is for me.
thanks.
if you have no say in this, you might as well not put anything stupid.
my experience is limited to futures and options on futures trading.
here are some very simple scenarios:
many groups in this area utilize simple trendfollowing techniques which attempt to capture outlier events. the nature of this type of strategy is that you will eat a lot of of small losses which will hopefully be more than offset by large infrequent gains. these type of strategies have a long-option profile.
short-option profiles (e.g. trading the spread between contracts or options, etc.) tend to be more appealing to many traders because they can consistently generate returns. the catch is that these type of positions will blow up from time to time.
here is some additional insight:
1) some firms are married to certain strategies. specialization is useful, but it may not be as attractive to individuals wanting to learn about various strategies. multi-strategy firms are great for those wanting to try out different approaches.
2) there are tons of successful prop firms out there that you will never read about in the papers and trade journals.
3) many traders are smart and confident -- learn from them, but keep an open mind. i was a lemming for a little while until i found my own way.
good luck!
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