Best City for a Starting Daytrader....
- Thread starter Nelson1980
- Start date
I am a firm believer in starting out at a firm, whether proprietary or professional. Then, once you have been exposed to different styles and strategies, and feel you can go on your own (or your contract expires) reevaluate and you will find that trading on your own or staying is a coin flip.
FWIW, I have found that once you go proprietary, I see few ever leave that nest egg. However, I have seen many traders at professional firms go retail. I do not really know what that means (though I have my theories.)
Therefore the best city for trading would be any of NYC/New Jersey, Chicago, LA/San Fran, and cities in FL.
nitro
FWIW, I have found that once you go proprietary, I see few ever leave that nest egg. However, I have seen many traders at professional firms go retail. I do not really know what that means (though I have my theories.)
Therefore the best city for trading would be any of NYC/New Jersey, Chicago, LA/San Fran, and cities in FL.
nitro
SO TRUE!!
Quote from Momento:
Trade at home and Definitely Florida as my first pick.
Tax purpose a + (although i am from Canada...)
We, Canadians, over here bust our ass to make money so that we can enjoy the FL weather, so in a sense, you are saving a tone!
and yes. I Strongly agree to the "Trade your own money" style, i think your learning curve will be much faster too, because everyone of your trades WILL cost you moeny, and the chances that you will note down every mistakes and learn from them are so much higher, than if you are "trying" and "mess around" with the prop firms money. You probably will be calling shots and shots and not really trading.
Well as far as trading "the firm's money," the firms are stricter than ever. It is about impossible now to find a prop firm that won't require at least $5,000 or $10,000 into an account to get started, and that's only a few of them if they really like you!
Magna and Nitro have some good points re West Coast and/or
prop firms.
Read some of past forums/threads re prop firms, then PM the contacts for specific answers to your beginner questions -
like Not an Alias Don, etal. There may be an prop office in NC or
FL that is more conducive to beginners' success, like a manager who has good teaching abilities and the time for it.....
More than a few have moved to a firm's corporate office city to
learn, even if just for a few months. CA is very nice; Las Vegas is
surprisingly decent and quite inexpensive...
Just remember, whatever your choice, in order to get off to the right start you've got to have the appropriate funds, and the
mental attitude to passionately do what it takes to succeed.
Now is as good as any time to properly get after it! Good luck.
prop firms.
Read some of past forums/threads re prop firms, then PM the contacts for specific answers to your beginner questions -
like Not an Alias Don, etal. There may be an prop office in NC or
FL that is more conducive to beginners' success, like a manager who has good teaching abilities and the time for it.....
More than a few have moved to a firm's corporate office city to
learn, even if just for a few months. CA is very nice; Las Vegas is
surprisingly decent and quite inexpensive...
Just remember, whatever your choice, in order to get off to the right start you've got to have the appropriate funds, and the
mental attitude to passionately do what it takes to succeed.
Now is as good as any time to properly get after it! Good luck.
Personally, every job I have had, I had to be at work no later than 7:30 and in a suit. Being ready to trade by 6:30am I wake up a whole 1/2 hour earlier and am completely done by 1:00. It is soooo nice to have "most" of the day to golf, surf, workout in an empty gym, coach your sons soccer team, etc etc. IMO trading on the West Coast is GREAT!!!!!!!
If you can take the weather/seasons, Chicago offers a trading day that ends at 3:00 so you can be home before the Cubs games end (well that might not be a plus) and you still don't have to start until 8:30.
I'd love to trade out west but the midwest is a nice spot too.
That is all.
BigMike
I'd love to trade out west but the midwest is a nice spot too.
That is all.
BigMike
san diego for beach/weather.
tahoe for skiing and taxes.
id rather get up early and be done by 1:00 pm. plus, you can still maintain a "day" job. or, you can trade the morning and be done by 9 am or 9:30 am and essentially work another job FT.
p.s. - planning a move from s.d. to reno/tahoe so im not objective.
QQQBall
tahoe for skiing and taxes.
id rather get up early and be done by 1:00 pm. plus, you can still maintain a "day" job. or, you can trade the morning and be done by 9 am or 9:30 am and essentially work another job FT.
p.s. - planning a move from s.d. to reno/tahoe so im not objective.
QQQBall
