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  1. rmorse

    Looking for a Prop Firm

    Unfortunately, there is a big delay in these documents, and income is not always included. Knowing the capital structure of the firm you're becoming a limited b partner of with a capital contribution, is very important. Bob
  2. rmorse

    Looking for a Prop Firm

    http://sec.gov/edgar/searchedgar/companysearch.html
  3. rmorse

    Performance Reporting

    Check out Market76, they have a solution that might help you. https://www.market76.com/#home As for Marc, tell him I referred you. Bob
  4. rmorse

    Undoing a Roth Conversion...

    How much money will it save you? If you could undo the transfer, is it material enough to try? Bob
  5. rmorse

    Currency futures - why?

    I was just using IBM as an example. A firm as big as IBM that wants to hedge out currency risk, can do it in many different ways. I was making a point to the original question. You would only use Spot FX, for transaction at that time. You need a forward contact like futures to price out...
  6. rmorse

    Platforms we offer:

    My name is Robert Morse and I’m with Victor Securities. We are Introducing Brokers to Merrill Lynch Professional and Penson Financial and provide a variety of solutions for Hedge Funds, Trading Groups and Active Traders. On Elite Trader, I get a lot of PMs and Emails asking what platforms...
  7. rmorse

    Currency futures - why?

    Traders are there to make money from adding depth and liquidity to the markets. But Futures exist because there is demand for the future pricing of a commodity or asset. In the case of FX futures, companies can lock in pricing for a currency swap in the future, to lock in a cost. If I'm IBM...
  8. rmorse

    Is it easy to short Leveraged ETFs ?

    I'm not sure, but last I looked it was -7%. But that was last summer. The rate can change everyday.
  9. rmorse

    Is it easy to short Leveraged ETFs ?

    Most can be borrowed. You will require a locate on any of them, not on the easy to borrow list. Most require locates and have negative interest rates. If you're just day trading, you only need the locate. The negative interest rate is not an issue. Bob
  10. rmorse

    Tower Hill Trading...What am I Overlooking?

    Your putting up No money, getting an 80/20 split, they are training you and hold aside some profits so you don't leave after they train you. The cost per trade is higher than most prop shops, but they are trying to get paid for their risk. Seem like a good offer over all. How much capital will...
  11. rmorse

    Series 7 Grandfathered

    Actually, they say you have to retake it. The following is from their site. "You will have to retake the Series 7 exam if it has expired._ Traders who are within two months of their license expiring_may be subject to additional restrictions.conditions to prevent license parking._ Please call...
  12. rmorse

    Long term crude oil trade, best way to do it?

    You are not activity trading it, so put a bid at a place you want to buy it, if it's close to fair value, you'll get it over a time. Its a long term investment, if it take hours or days to buy it, it should not be an issue.
  13. rmorse

    Long term crude oil trade, best way to do it?

    You can buy futures contracts that go out as far as 2020. Pick a year and a month that fits your goals. You don't have to trade the front month. http://www.barchart.com/commodityfutures/Crude_Oil_Futures/CL?search=CL*
  14. rmorse

    Series 7 Grandfathered

    No. If you join a broker dealer that requires series 7, and you went more than 2 years without being associated with a BD, your license exam will have to be retaken. The only way to avoid that is to open a customer account to trade. If you have enough assets for a Customer Portfolio Margin...
  15. rmorse

    "Unable to close your account because of regulations"

    To my knowledge, there is no regulation about keeping an account open when the client has removed all securities and assets and no longer has trading rights. Maybe they are waiting until after they send out tax data for the last calendar year or their WSP provide for a period of time that must...
  16. rmorse

    Data fee for your non prop accounts?

    If you file a u5, are not registered with any firm, or as a CTA or RIA and open the account in your name and not an entity, you can likely get away with "A Non-professional Subscriber" fee. The definition might not be uniform. Your series 7 does not expire for two years, but after the u5 is...
  17. rmorse

    How is Probability of expiring on TOS calculated?

    Can you ask the question in another way? I'm not sure what your asking. Bob
  18. rmorse

    Data fee for your non prop accounts?

    If your a member of a BD, you have to disclose that. That alone might qualify you as a "professional." Also, yes, the exchanges make you pay for each platform using data. So you have to pay separately for charting and your trading platform, unless there the same platform. So if you use Sterling...
  19. rmorse

    Accounts with multiple prop firms

    What are you referring to? You're agreeing with me.
  20. rmorse

    Newbie question RE Post-market trades outside BBBO

    What is BBBO? You could be looking at either sales posted late, or a sale vs an option trade, so it can print outside the market.
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