Chimera Securities Reviews

The training is generally non-existent. Even the head trader taught his things that in his own words "haven't worked in years". You're basically thrown to the wolves with very little competitive advantage. There's also not a lot of transparency. The firm used to have a board showing how all trades were doing, but they got rid of it due to complaints. The complaints were because most of the younger traders were all losing money. It was hard to tell who knew what they were doing and who didn't. Also be aware that the firm makes money through rebates on market liquidity, so even when you are losing money the firm can still profit. That's a key thing to remember because they will always preach getting out of stocks early if they don't work right away and buying back in later when they do, so that they get double the fees. Most prop firms do this, but it's not readily apparent to a novice that the firm's interest don't necessarily always align with yours.

-While there are approachable individuals there who do make rather large sums of money on a consistent basis, they are far and few in-between. With that said, even if they do chat with you and explain what they do, it may simply not be your own style of trading or they may not be able to articulate it in a manner that is understandable to a newbie because at that point in their career, so many things are subconscious. -Management is operating under the standards that have historically worked for them, thus I can not have an opinion as to how they choose to run their company, i.e. lack of structured training program because there are numerous profitable traders who have "cracked the code" of trading without any training beyond the execution of trades within the execution platform.