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Stephen Doyle

Prop Firms/Funded Accounts

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Hi everyone.  I apologize if this topic as already been addressed.  I was curious if anyone has looked into getting a funded account or working for a prop firm after training with BBT and using the simulator?   What are your thoughts?

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Unless you are ready to be a full-time professional trader, then it's worth considering. If not, don't waste your time. You won't be successful trading someone else's money until you are successful trading your own OR you get into a firm that will train you from scratch, but there are no guarantee's.

Edited by ecadaret

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Eh most prop firms require you to use your own capital, i think min is like 10k or 5k, i called and got contacted by a few shops in NYC (T3 was one) when I was living there. They provide you with their platform and tools and 'show you some ropes'. mostly a gimmick if they are posting jobs out there or sending random emails to you. stick with learning on your own and use other resources like BBT. Once you go bear bull, you never go back, unless you're a Vancouver trader 😉

Edited by Brendon

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Hmm I think I heard of them, I still would trade on your own with BBT. I wouldn't join a trading firm, period, and they pay next to nothing. Honestly trading is more discipline and a firm can't teach you that. As for the technicals and setups, you can learn that here or on your own. The last thing you want is your career under the gun of trading, while you're learning at least. 

Edited by Brendon

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SMB is arguably the most well-respected trading firm around. I don’t believe they offer a service as Brendon has described. You have to be accepted and hired (whether intern or desk trader) by SMB. You can’t just sign up and start trading.  They train their interns through a full training program and ultimately you trade with their money, assuming you are given the opportunity. 
 

One of the founders of SMB Capital is the author of One Good Trade and The Playbook. There is also a video in the BBT YouTube channel that has an interview with said founder, Mike Bellafiore.  Great interview worth watching. 
 

There are firms out there that will give you a funded account after you pay them x amount. I wouldn’t touch any of those firms. 

Edited by Lee W
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@Lee W, it does look like SMB Capital has a funded trader program. https://www.smbtraining.com/blog/smb-equities-tryout

Though, it does has a high sticker price, at $295/mo. And per their evaluation rules, you need to trade for 3 months to quality.

However, I have a hunch (hope) that the website price is just a starting point for negotiation. Because you'll need to go through their DNA and Winning Trader programs, I think you'll be pitched better deals if there's fit.  They also have an solid marketing video here: https://www.smbtraining.com/blog/tryout.

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