Good luck with it, I hope to do a bit more research when I get back from holiday.
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Looking for good remote prop trading firm
- Thread starter nysestocks
- Start date
Good luck with it, I hope to do a bit more research when I get back from holiday.
Quote from bpcnabe:
Well yeah of course you are John.
Ever since you were bounced out of FINRA.
In defense of TM there arent many of us in the biz for decades without some sort of BS mark. As I read it it seems purely operational...not like he defrauded anybody.
Remember...finra/nasd/sec are purely fee garnering machines. They do nothing but take...
nysestocks
Guest
Thanks guys for the good wishes.
It looks like I may be going with one prop firm over the other, as one seems to cater better for licensed traders, which I have no intention of ever becoming.
I will let you know how I get on. My main goal now is to get access to $100K intraday buying power, with a $5K deposit, and 100% payout with as low a per share commission as possible - as close to what IB offers for their TWS trading platform.
This is for daytrading only, with no overnight holding, which is exactly what I want at the moment.
Charting is not an issue, as IB TWS and QT provide adequate charting for daytrading. There is also another simple 3rd party programme that allows you to use excel to link to TWS via a DDE link - this is very handy and most traders overlook the value of it.
The only learning process will be the new order entry software, which I am hoping to start testing next week.
In all honestly, I am a little bit surprised that this is actually available for remote trading, as it was not over a year ago when I checked.
Again, thanks to those (and one person in particular) who have put me on the right track.
It looks like I may be going with one prop firm over the other, as one seems to cater better for licensed traders, which I have no intention of ever becoming.
I will let you know how I get on. My main goal now is to get access to $100K intraday buying power, with a $5K deposit, and 100% payout with as low a per share commission as possible - as close to what IB offers for their TWS trading platform.
This is for daytrading only, with no overnight holding, which is exactly what I want at the moment.
Charting is not an issue, as IB TWS and QT provide adequate charting for daytrading. There is also another simple 3rd party programme that allows you to use excel to link to TWS via a DDE link - this is very handy and most traders overlook the value of it.
The only learning process will be the new order entry software, which I am hoping to start testing next week.
In all honestly, I am a little bit surprised that this is actually available for remote trading, as it was not over a year ago when I checked.
Again, thanks to those (and one person in particular) who have put me on the right track.
please PM me. i am looking for a firm as well and am in no mood to take the series 7 exam. i have been trading since 1999 and am in a state of flux at the moment.,could use a few firms to consider.
thanks
thanks
nysestocks
Guest
Quote from trader2000:
please PM me. i am looking for a firm as well and am in no mood to take the series 7 exam. i have been trading since 1999 and am in a state of flux at the moment.,could use a few firms to consider.
thanks
I have not picked any remote prop firm yet, as I still need to check out some firms and test their order entry platform to make sure I am comfortable with it for live trading, as I may be doing some quick scalping once I open my new prop account.
Once the firm is well established, has a minimum of $5K margin, gives 20:1 intraday, has a per share coms of around .0005/6, and does 100% electronic payout with no hassle, then that is all I require.
I am willing to risk $5K with such a company, and even take the gamble that they might go bust at some time in the future. First priority is to get the $5K back in profits and into cash, then the account is risk free.
Trading is all about risking money to make money. If one wants a sure thing with a prop firm, then maybe one should follow the licensed traderâs path. I have absolutely no intention of pursuing this path, as I have looked at some of their exam papers and it looks like more of the same old rubbish to me, even if it does give you a âqualificationâ.
Time is money in any business. Use your time wisely and it may become possible to make more money.
series 7 is more trouble than it is worth. it can actually be a detriment from what i've recently been told. every top trader that i know,and i know a few,does NOT have a 7.
Quote from trader2000:
series 7 is more trouble than it is worth. it can actually be a detriment from what i've recently been told. every top trader that i know,and i know a few,does NOT have a 7.
Anybody that works/worked for a real firm passed it, I guess you know some big hitters!
It takes a week of actual studying, if you have 1/2 a brain, to pass.
Yes, it is a useless excercise & credential.
Quote from nysestocks:
Once the firm is well established, has a minimum of $5K margin, gives 20:1 intraday, has a per share coms of around .0005/6, and does 100% electronic payout with no hassle, then that is all I require.
you are starting off and you want .0005 per share?????/ that's like 50c per 1000 shares..... I think you menat .005.
Has anyone looked into Nevis Trading, they advertise here on ET but they are based offshore presumably to avoid tax/regulation issues.
nysestocks
Guest
Quote from forsalenyc:
you are starting off and you want .0005 per share?????/ that's like 50c per 1000 shares..... I think you menat .005.
Yes, apologies, you are correct. It was my mistake.
It should read .005 per share, but it would be nice, would it not, if we could get it for 50c per 1000 shares instead of $5