Any views on this prop firm?Swift Trade

looks like a day trading firm

i went to school with a guy who worked there briefly. Straight up day trading firm. they start you out with 50k in capital, if you make money you get more capital if not you lose your job. Small time place, avoid it if at all possible. You may get some experience trading, but i don't think many firms would value it very highly.

I don't see how different it is from the bid/ask high volume trading that banks do (like spot FX).Jaiman, where is this guy now?

As long as I knw forget about working on a IB trading desk once u have day trading firm on ur resume.Anyone, feel free to correct me.

A,i'm not sure what he's up to these days. I know that he left Swift Trade as he was not one of the ones who could make money, i believe he went back to school. If i'm talking to any mutual friends i'll ask around. As for the difference between trading on the bank side and the day trading thing, to the best of my knowledge these guys aren't market makers and the prop dealing they do is far less sophisticated than the big banks (or maybe it is the same level of sophistication, but the big banks don't want to admit it) the day traders are seen as a bit to hacky. I'm not saying that you wouldn't develop trading skill, just that it wouldn't be recogniized as such.

QuoteOriginally posted by: HiFunguyAs long as I knw forget about working on a IB trading desk once u have day trading firm on ur resume.Sure, and forget about being on the olympic ice-skating team once you are on the olympic gymnastic team. So what?MP

QuoteAs long as I knw forget about working on a IB trading desk once u have day trading firm on ur resume.I think you may have a point to some extent. But I was just trying to gain a better understanding of the firm/reputation in the city and level of expertise/sophistication in their trading methods etc..I recently had a meeting with 2 Barclays Capital traders who had been in the business for more than 10 years to discuss my CV and possible future career paths and I was told to stay away from prop houses until I had more experience and then make the decision at a later date - but I don't want to dismiss every firm, just get a better understanding of their culture and reputation!

QuoteI recently had a meeting with 2 Barclays Capital traders who had been in the business for more than 10 years to discuss my CV and possible future career paths and I was told to stay away from prop houses until I had more experience and then make the decision at a later date - but I don't want to dismiss every firm, just get a better understanding of their culture and reputation!Slick, what reasons did they give you to stay away from prop houses?