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Where oh where have all of the firms gone..?
Started: by thekaiboe Views / Replies:405 / 5
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Where oh where have all of the firms gone..?

  #1 (permalink)
Trading Apprentice
Baltimore, MD
 
Futures Experience: None
Platform: TradeStation
Favorite Futures: Emini
 
Posts: 2 since Feb 2017
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Where oh where have all of the firms gone..?

Hey all, new guy here and I would like to say that I am happy to be a member.

My question is, I have been studying, practicing and just consuming as much information I can about intra-day trading and the market in general.

I live near Annapolis and was looking for possible desks to hopefully obtain a seat down the road, that is in a picture perfect world where I am actually pretty good at this trading thing.

I have looked all over For desks near Baltimore and D.C. And now that Chopper has closed, all I have found was FBR and DC Energy? Are there any other reputable Prop Firms near me, or will I be looking into hopping a train into Philly?

Again, I know this is down the road with the good chance of never happening, however I would like to know if a firm does exist for me. Training and mentors are obviously important to me, so remote trading with the Likes of remote trade shops is something I am not ready for.

Thanks for your time in advance everyone, I truly appreciate the assistance!

KB

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  #2 (permalink)
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  #3 (permalink)
Elite Member
Buenos Aires Argentina
 
Futures Experience: Advanced
Platform: NT, MT4, Sierra
Favorite Futures: S&P, Bonds, Crude, FX
 
Posts: 245 since Sep 2014
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You know the adage, if you can't beat them, join them. Citadel has been vacuuming up the good independent small traders and funds, getting them on their platform and access to their capital, etc.

You may be better off packing up your bags and going down to Chicago for some of the remaining independent shops...

Best of luck!

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  #4 (permalink)
Trading Apprentice
Baltimore, MD
 
Futures Experience: None
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Posts: 2 since Feb 2017
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Not Chicago! Lived there when I was younger for a little while and man were they some rough winters! Thanks for the reply mate, I appreciate it. What are your thoughts on the remote trading firms? Are there any ones in particular who offer strong training and support for there remote traders?

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  #5 (permalink)
Elite Member
Buenos Aires Argentina
 
Futures Experience: Advanced
Platform: NT, MT4, Sierra
Favorite Futures: S&P, Bonds, Crude, FX
 
Posts: 245 since Sep 2014
Thanks: 37 given, 230 received

Futures Edge on FIO

What value do you place on the webinars on FIO?

 
I am of the very strong opinion that for training, in person is really the best way to go. Remote will probably slow you down by 3 times at best, or at worst, never really take. It's like trying to learn how to perform surgery by watching through a web cam...just not quite the same when it comes time to make the incision by yourself.

There are a few prop firms that are good for remote support, but that's really about already having a profitable strategy and just tapping into their margin and liquidity rather than needing support on trading per se.

Just keep in mind most of the 'remote' firms these days in my opinion masquerade around as trading firms but really generate their business model off education fees. And why not. Much easier with no performance risk especially when competitors are dropping like flies against the rise machines and larger firms consolidating talent under one umbrella.

So unfortunately no remote firms I can personally vouch for. Maybe individual traders that have a good track record...but they charge some eye popping numbers to trade with them live (as well they probably should if they are basically giving you a future income stream off their edge). It's just not quite like the 90's and 00's anymore. But! Good news is that previously good traders that have turned consultants have generated lots of good free you tube videos out there to pick up the basics.

PS As a general rule of thumb, the nerdier and more awkward they sound, probably the better the education content. The more suave and smooth talking...be leery...

Hope you are able to find what you are looking for in your journey with better connections than I have in my small world.

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  #6 (permalink)
Elite Member
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
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Posts: 1,876 since Sep 2010
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If you have a good track record with real skin in the game, you can trade from anywhere you wish. Prop firms are not the only ones who allocate funds to traders. You can approach funds, CPOs, and private Family Offices.

I suggest that rather than looking for a location start researching what criteria the companies above use to allocate resources and under what terms. You will be surprised that money is not easily given even if you have a positive track record. This is what most think: Just show a real positive live track record, and everyone will start writing checks. Not the case.

Matt Z
Optimus Futures

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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