Looking for a new firm

G

giannos

Hi guys:

I am posting on here for the hope of finding a new home. After I "blew" up my small account, I decided thanx to the advice from many on ET , that I needed to work on many things in my trading. I have been on the simulator since and feel that I am ready to bring my refined trading live. I have traded for over a year Live, and the last many months paper traded. I have since changed my "style" some and I believe I have found my edge. I trade only NAZ stocks and the moment I am trading a min of 15k shares a day. Somedays more, so I think my average per month might fall in the 450- 500k average/per month. I am for the most part a liquidity taker. Always punch into my position and sometimes rebate out, depending what I am trading. So I know that I will be incurring .003 charges/per share for smacking the bid or offer. I was hoping that I could find a competitive firm that will allow me to be remote ( I live in Canada ) and provide me with an ALL in pricing structure. I have looked at IB as the .005 ALL in rate is AWESOME for a trader of my style. However at this time I am not willing to contribute 25k as my deposit ( I am buying a house ). I am willing to deposit between 5-10k and would like hopefully at least 20:1 bp INTRA-DAY. At this point in time, I do not hold any overnights, thus overnight bp is not needed. I do not have a series 7 but I can attain one if need be. I am also looking for NO split in profits as I am contributing my own risk capital. If anyone out there can point me in the right direction and feel free to PM me if you'd like. I would prefer an ALL in rate.

Thank you, and yes I am aware of the "search" button ( before some jack-ass tells me ) but I am looking specifically for firms that will allow me to be Remote from Canada and can provide me with a little more than 10:1 bp.
 
Yes, I would like to be affiliated with a firm that is reputable. I would rather pay a bit more in commison and have the security that my money is "safe". I have read enough horror stories on here to know that the lowest possible commission isn't always the best route. Also, I have heard Don Bright talk alot about asking to see the Balance sheets and I was wondering Don, what kind of numbers should a person be looking for ?
 
Don Bright

www.stocktrading.com

well worth considering,

excellent firm, and excellent bunch of honest guys....

what really gets me is the number of honest traders that associate with them,,,,

no this is not a paid advertisement....
 
My understanding is that before you can trade for a firm, part of the process is getting a U4 and filing it with the regs. In addition you need to receive a u5 from the old firm. Does the old firm have to give you a U5 BEFORE you can start the process of the u4? Some firm's backoffice might take their sweet time in issuing the u5 and am concerned that it would delay the u4 app process. Thanks
 
I say starting with 500K per day after blowing up is a little timid. How can you make a $M a year unless you trade size? Take a shot! If you can do ten times that volume I'm sure there will be a few commission shops that will take a look at you.
 
10 times the volume ??

So your saying I should be trading 5 million shares a month +++
I am not looking to churn commissions and as far as making Millions, I will leave that up to you.
 
Quote from GATrader:

My understanding is that before you can trade for a firm, part of the process is getting a U4 and filing it with the regs. In addition you need to receive a u5 from the old firm. Does the old firm have to give you a U5 BEFORE you can start the process of the u4? Some firm's backoffice might take their sweet time in issuing the u5 and am concerned that it would delay the u4 app process. Thanks
More...

When new firm files U-4, then old firm has 30 days to file the U-5.

Don
 
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