Definition of Prop Trader
What is a "prop trader"? What is the definition of the term "prop trader"?
Before we define what a prop trader is, let's define "prop trading".
A "prop trading" firm is a firm that puts its own capital to work in the markets. For instance, a prop trading firm may have $5 million in total capital that is traded by a number of traders.

Note: a prop trading firm is different from a hedge fund in that a hedge fund trades the money of its clients, while a "prop trading" firm (or division) is trading its own capital. A prop trader is a person who trades for the prop trading firm.
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