Experienced Trader looking to open account with min 25K deposit

Dude(WinItAll) you arrived at the same conclusion that I found. From me on page 4.

“This statement is the reason why Prop shops are disappearing.

They offer the individual trader no real incentives (from what a tradition online broker has) and they want a cut of the traders profits. What a joke.”
 
They offer the individual trader no real incentives (from what a tradition online broker has) and they want a cut of the traders profits. What a joke.”
More...

Exactly. Just trade with a good online broker. 25K is enough money to see if you really know what you're doing.
 
Quote from spreadem:



Exactly. Just trade with a good online broker. 25K is enough money to see if you really know what you're doing.
More...


Just a comment, not disagreeing with what you say...if this works for you, then great. I have suggested to many traders to go with a 6 to one, with perhaps $300K or so of their own money... I question the idea with only $25k. And, of course, this has been our niche market for decades.

Say you buy 1000 IBM, and sell short 800 shares of HP - just to try to make $500 or so per day, you do this 3 times per day. ... well, 6 times $25K just doesn't cut it. Using (not abusing) $400K or so, with $25k... note that I said "using" - can allow you to actually make a living vs. having to trade in 100 share lots.

Yes, some can do ok with this 4 or 6 to one model, but think about how well they could do with access to more capital.

Just a thought.....

All the best,

Don
 

07-15-11 12:49 AM

I settled with nobody, I guess if you have your own money to trade with there is really not much that any of the firms out there can offer you (with the exception of trading through a Goldman Sachs or similar company for the advantage of their research and offerings). I currently trade with an options account and I converted my 4 to 1 account to a 6 to 1 account.

Most of the time I don't even really use leverage because I completely stopped trading intraday a couple of months ago because it was the only trading time frame where I was losing money. With the recent swings in the market I have not used any leverage because I have large positions in approximately 20 stocks and I don't want to be forced out of anything due to a headline that comes out. The more I thought about it, the more I leaned towards not using the leverage.

Long story short, I switched over from a 4 to 1 account to a 6 to 1 account and then decided to just trade with cash. And if anyone is interested, the only firms that offered more than what I got were firms that were completely day trading based and had cbsx lock ups, which from what I understand are not insured (not positive about that since I never traded with one but this is what I was told)
More...

WinAtAll,

Have you found anybody yet?
 
I am new to this forum and apologize if this is not proper.
I'm interested in exploring if trading is for me.

I was in business for 30 years and sold my company .
i have zero experience and fully understand that my probability
for success is very low !

your feedback is very impressive , can i get your email for some follow up questions ?

I promise to respect your time and i always make things a "win-win" !

Thank you for considering this request , Take care Mike - long island
 
You must log in or register to reply here.
Back
Top