Proprietary Trading?

Guys, I’m thinking of taking a job with a black box/grey box prop trading firm. they say they have an 80% success rate. my question is: are these jobs legit? for example, they might want me to put in $1,000 to $5,000 of my own money, which seems sketchy to me. are these types of prop trading jobs generally considered OK jobs? Do people generally make money with them? The guy i interviewed with made it sound like six figures was almost guaranteed. Also, it seems like they’re kind of just accepting anyone who applies. i talked with him for like 10 minutes, and he told me to come back next week for one of their training sessions. Should I take this job (if offered)?

Of course he’s going to make it sound like six figs are guaranteed. I’ve know guys who have worked at places like this. You can make some money, but depending on how much capital you are putting up you may not have enough margin to make some good trades. I work on a prop desk at a brokerage and we trade with firm capital and execute the firm’s institutional orderflow. It’s probably not too sketchy…but I’ve had some buddies get the run around when they are cashing out. That’s usually at smaller firms…Schonfeld has pretty much cornered the market, He seemed like a pretty good guy when I met him in Boca. I always take my Grandpa’s advice in times like that though. If you feel like you’re about to make a mistake, you probably are.

I think 99% of these gigs are a waste of your time and money.