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Which firms allow and/or encourage taking overnight positions as a main part of the accepted strategy? I believe First New York Securities does. Anyone know of any others? Thanks

I am also interested in this. Please PM or respond in the post.

IMO, Long's good to ~$50-$52 short term, then a retrace worthy of a short.

Pick up some Iraqi bonds or go long the USD for a few weeks.

If you're Christian and a man, I'm unable to recommend "Wild At Heart" enough. Otherwise check out "Think & Grow Rich" or "The Greatest Salesman In The World"

I would do that just by having full documentation of the trades, income, etc, correct?

Hi If I were trading with a prop firm, how could I get my performance independently audited to ensure legitimate return figures? Who does such a task? Thanks

Every shop varies. First NY Securities and Bright Trading seem to be the two most reputable ones out there at this point in time. You're going to hear a ton of garbage from people on this site so take everything with a grain of salt. It's not an easy business to be profitable in unless...

Hi Steve This is a sincere question - where exactly is the added value from what you're offering versus other firms? Obviously if someone is doing huge volume it would make sense. Other than that, where's the value? Thanks

Which firm provides what you wrote? I emailed Schonfeld and they told me they're intraday only, but I'm interested in hearing of others. Thanks

Don, Mind clarifying the 'deferral of income' part? Curious as to what you mean.

I would appreciate some info as well. What kind of overnight leverage do you get if there's a deposit, and if no deposit, what access to overnight capital is offered? I know it's subjective on skill level but ballpark it for someone who's fairly decent.

Ask the company how many have gone out of business..... i.e. what's the success rate? What's the avg profit/year? Median profit per year?

Your ignorance is exceeded only by your bad manners, bud. I do not have an Ivy degree and I have a limited track record, made up mainly of virtual trades. I do have a solid track record of finding profitable short term opportunities in the market and exposing where Wall Street has exaggerated...

Thank you for a good response. I appreciate it. Don, on your side of things (if you're perusing this chain) would you be open to such an arrangement? I assume we'd have to PM about it if possible.

If you read my posts, I clearly say I was using 50/50 as a random figure to be adjusted as desired. I am looking at it from the hedge fund perspective..... they cover commissions, salaries, benefits, etc AND share the profit through bonuses. That is the way a hedge fund is structured and...

to UDontKnowMe: QUOTE: What if the trader loses money, who covers the loss? Are you gonna pay for a salary and for losses? Do you think your profits can overcome both of those and be a profitable business? MY RESPONSE Uh.... yes! That's what hedge funds and bank prop desks do. Lo and...

transfer this convo to here: http://www.elitetrader.com/vb/showthread.php?threadid=124865 it's my fault for opening two - the other one is more productive.

Very good point.... so the questions stands - why don't some of these prop groups start a hedge fund? Owners of prop shops are encouraged to respond. Is it because commissions are a sure thing while profitable traders wouldn't be?

Also, you may trade longer time frames than intraday but your capital is limited. In a fund structure the access to overnight capital would be less stringent since it is strictly firm capital and not based on your deposit size or a variation thereof.