what can i expect trading fx for a prop firm

[richard7173]

i am an experienced guy who has traded interbank fx at a top bank for 15 years. I have been offered a role that pays 40 pct of profits....is this the going rate ?? do prop firms pay salarys and percentages as high as that , or is it all on a draw each month then taken out future profits before finally getting your percentage etc......any help, advice from anyone would be much appreciated

 

[blancspa]

I dont get why people with such an experience in financial markets bother to work for prop shop and give up 60% of profits.... but I am the naughty one so....

 

[richard7173]

Because i have been asked to set up a team and i belive i could do well out of it.....also i am not in a postion that if i got off to a bad start(which could quite easily happen when trading from home , i do not have 200t that i could afford to lose......but yes if i knew 100pct i would make money from day one i would trade from home.....

 

[GammaJammer]

Good Q - I always got the impression those deals were hugely individual in terms of differences between firms. Are you expecting to earn some sort of premium for taking a risk to go round and set up a team?

 

[crude_lover]

Richard is this an arcade or a proprietary trading house because 40% is a big split if its including a salary, I previously traded for a proprietary house before my current position. The split was a lot less than 40% but the salary was very good and the size we were trading in made up for the lower split on p/l. it is definitely something that you can earn a lot of money in, I worked with several people who were pulling in 6 figure even 7 figure yearly salaries. It also depends on the firm themselves such as is it intra day trading, longer term, discretionary, systematic etc

Feel free to pm me if you want to know more and I can describe in a bit more detail how it previously worked for me.

 

[MORGZTRADER]

How would a trader of limited experience get the help they needed, potentially even get into a firm? I have been going for about 3 months now.