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JTader with elocaltrading
- Thread starter andrasnm
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What use is a second account when you have no idea what your position could be on the first account?
Just assume that you have a position in account #1. Then follow the market with account #2 as good as you can. This is quite important when market sort of crashes (like around 09/21/2001). When you have access to account #1 again then go flat with respect to overall position. If you are a good trader then you will not lose money using this method (even if you do not know your position).
i am confused do you have to go through a ib to get to a fcm. can you just deal directly with an fcm. lets say i wanted refco, or some other fcm, can i just go directly to them or do i need an ib. what does the ib provide that the fcm cannot. also, any word on pats, are they still financially viable, or are they going 11. anyone know? 2 stupid questions. thanks
Originally posted by Navigator
What use is a second account when you have no idea what your position could be on the first account?
To answer your question, the problems I have had with IB have only been once I am ALREADY in the market, not a problem with trade reporting...
IF you do not whether you are flat or open in the market, well then I guess you are screwed either way...
cartm
you can go directly to some of the clearers who are higher profile in the retail world ( they are also a lot of other clearers that will only deal with a professional trading thousands of contracts)
you may also find that the introducing broker you are dealing with is a wholly owned subsidary of a clearer
on the whole - clearers or wholly owned subsidaries look for more commmision and give less leverage - maybe because they dont want to compete with the other ibs - but maybe also because of arrogance
most retail traders paying high commisions are either doing it as a hobby ( hobbies cost money ) and keep on going in the same way someone goes to a casino, or they get wiped out
i have menitoned this fact a lot - and have never had one person tell me i am wrong
i have had retail brokers telling me they have clients who have accounts worth over a million dollars and the same client is happy to pay $10 a round turn - but i just figured when i heard that - that i had tuned into some sort of comedy channel!
you can go directly to some of the clearers who are higher profile in the retail world ( they are also a lot of other clearers that will only deal with a professional trading thousands of contracts)
you may also find that the introducing broker you are dealing with is a wholly owned subsidary of a clearer
on the whole - clearers or wholly owned subsidaries look for more commmision and give less leverage - maybe because they dont want to compete with the other ibs - but maybe also because of arrogance
most retail traders paying high commisions are either doing it as a hobby ( hobbies cost money ) and keep on going in the same way someone goes to a casino, or they get wiped out
i have menitoned this fact a lot - and have never had one person tell me i am wrong
i have had retail brokers telling me they have clients who have accounts worth over a million dollars and the same client is happy to pay $10 a round turn - but i just figured when i heard that - that i had tuned into some sort of comedy channel!
Real Trader
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We have the ability to offer aggressive rates directly through a very solid FCM that doesn't have a bunch of small retail accounts jamming up thier servers, yes thier are some qualifications that need to be met but once met you are sound, and thier are referances that will ok that. Give us a call or e-mail my info is listed below.
Best,
Frank
VanKar Trading
Best,
Frank
VanKar Trading
Originally posted by stevet
cartm
i have had retail brokers telling me they have clients who have accounts worth over a million dollars and the same client is happy to pay $10 a round turn - but i just figured when i heard that - that i had tuned into some sort of comedy channel!
my guess is that these are the "hobbyists" who have a bunch of money, are semi-retired, and get a thrill throwing 30-50 E-mini contracts in the market for some sort of adrenaline rush...Since the money is basically a non-issue to alot of these guys anyway, why would they care whether they pay $5 or $10 r/t...
As I am sure you have noticed, many successful people who have tremendous business savvy come into trading and leave all their intelligence at the door...A one million dollar account paying retail commissions would qualify for this lack of intelligence
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