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  1. Robert Morse

    Wisdom on a prop trading career

    I'm not the best person to ask that. I'm not a fan of those props firms. I was in one for a year and was not happy back in 2010. I would stick with a customer account with less leverage or learn futures where there is natural leverage. It sounds self-serving as that is what we offer but it is...
  2. Robert Morse

    Wisdom on a prop trading career

    Now to respond to your questions. #1. JBO prop firms don't care but traditional prop want to see a track record or that you have some type of strategy they are interested in, usually with a unique data set or process. They prefer systematic trading. #2. Yes, JBO Prop. #3. Not a question, but...
  3. Robert Morse

    Wisdom on a prop trading career

    Hi ronnym789, sorry to hear about your struggle but happy to hear you are better. First, understand that not all prop firms are set up the same and have the same goals or generate profits from the same source. Joint Back Office-JBO-prop-These are broker-dealers that take your money as first loss...
  4. Robert Morse

    Question about CME Membership

    Good morning schizo, You should either speak to your FCM rep or call the CME. If you only trade ES, there is a less expensive lease I think called IOM. I also believe you will not get that Individual Member Rate unless you buy a full seat. Matt responded to your other questions. One other...
  5. Robert Morse

    Please email or call me for anything I can help with.

    Please email or call me for anything I can help with.
  6. Robert Morse

    spx margin

    Not by my PC, so i’ll Give u a quick response. PM is meant to be a risk based margining system, so the OCC will shock a single stock hedged or not, part of a portfolio or not.
  7. Robert Morse

    SPY Dividend Plays

    Would you like to re-ask?
  8. Robert Morse

    SPY Dividend Plays

    His position would be hedged with an ITM call.
  9. Robert Morse

    SPY Dividend Plays

    My mistake. I thought you wanted to buy stock+buy put. Buy stock and sell ITM put is not a hedge. You would get the dividend on the stock and be at risk on both.
  10. Robert Morse

    SPY Dividend Plays

    No. Buying a put with stock before a Dividend and then holding until after would create a loss for the option/stock positions that you will get back with the Dividend. If you are long stock and short a DITM call, where the put has little or no value, you get to keep the dividend with no...
  11. Robert Morse

    Daily Risk Rule

    These metrics do not apply to all. You will have to develop what works for you based on your strategy and comfort level.
  12. Robert Morse

    What time will ES Sep. 20 options be expired tomorrow?

    I’m not aware of quarterly options. I expect they are monthly and 9:30am ET. Call the CME or your broker right now and ask to confirm.
  13. Robert Morse

    What time will ES Sep. 20 options be expired tomorrow?

    There are weeklies, end of the month and the regular monthy. (And Monday, Wednesday)You can see the all here. https://www.cmegroup.com/trading/equity-index/us-index/e-mini-sandp500_contractSpecs_options.html?optionProductId=138&optionExpiration=138-U9#optionProductId=138 The monthly is labeled...
  14. Robert Morse

    Partitioning a large account to limit operational risk

    Or use another broker that has risk tool settings.
  15. Robert Morse

    Suggestions for Prop Firms for non-US citizens to trade US Equities

    I understand what you are looking for. I can’t help with that. I suggest another path. Consider future’s. You get a lot of leverage, more than a prop firm. The account is 100% yours. You can trade any hours that fit and you can start with $5000 USD.
  16. Robert Morse

    debit

    Plus tax and tip.
  17. Robert Morse

    Partitioning a large account to limit operational risk

    If you do not want to use leverage, see if they can reduce your leverage to 1X. If you do not want to short stocks, have them turn off shorting. No reason to change to cash if your account exceeds $25,000.
  18. Robert Morse

    LEAPS and Margin

    No. they are not marginable. What do you mean by "What about with a covered OTM call?"
  19. Robert Morse

    SPY Dividend Plays

    The general answer is that if the value of the put on the same strike as your ITM call exceeds the values of the dividend including the cost of carrying, you are at risk of an early assignment.
  20. Robert Morse

    Partitioning a large account to limit operational risk

    I believe IB has two types of master/sub-accounts. For SMA-Each sub-account is really a master account (Different owners and SS#s) but under one manager-the master for control. For one owner-An LP, LLC, individual account etc, where there is one "owner" but you want to segregate strategies...
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