| Topic Name: |
Day trading firms? |
| Message Name: |
Good Luck |
| Date Posted: |
11/14/2001 |
| In Reply To: |
No, they didn't do much yelling in the interviews. All the questions where geared toward finding out if I was dedicated to Proprietary Trading or not, and a big portion of the interview was me asking them intellegent questions to show I was really interested.
Does your friend at FNYS say the majority of traders are making serious money or do most people fail?
If I don't get this offer, what would be another reputable Prop Trading firm to look into?
Thanks |
| Message: |
He's only been there a few months. I do know that if you're not making money, they don't want you around. Period. This is the status quo at most prop shops, but I think it's even more prevalent at FNY. In other words, I don't think they let you lose their money for months on end. So, I would imagine that anyone who isn't a junior trader and has been there awhile is profitable.
There are quite a few prop firms in the city, but very few of them will actually pay you a salary. Most pay a draw that you're required to pay back or make back. Some of them are shady, and most of them don't care if you make money or not, they just want you to churn the house account. From what I can see, FNY's training program is longer than most, and they seem to have more of a vested interest in making you profitable.
I'm in the same boat as you are. I'm looking for a reputable prop firm, but it's not easy. Let me know how it goes for you.
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