pro futures firms

Sanity · Jan 25, 2003

does anyone know of any prop firms in the NYC area that focus on trading futures?

sammybea · Jan 25, 2003

why would you want to trade at a futures firm? What could they provide you since capital and margin should not be a concern compare to stocks?

jpomerenke · Jan 25, 2003

we have been concentrating on mostly futures lately...They are more of a "EDGE"
-joey

SethArb · Jan 25, 2003

some of the clearing firms in nyc

on the various exchanges to see if you have what it takes

to work there?

good luck !

nitro · Jan 25, 2003

Quote from Sanity:

does anyone know of any prop firms in the NYC area that focus on trading futures?

Chicago is probably the best place for this...

nitro

WDGann · Jan 25, 2003

Yeah, Chi-town rocks!!!

But they have no training... it's either you can trade or you can't... simple as that...

mdl060374 · Jan 25, 2003

Quote from Sanity:

does anyone know of any prop firms in the NYC area that focus on trading futures?

Echotrade is building a futures desk, check them out.

Sanity · Jan 26, 2003

thanks for the info, i've been trading for awhile, the last prop place i worked at was schonfeld, great equity desks, esp. for nyse. not much focus on futures though. futures have shown a lot of promise lately, thats why i have been more interested in finding a firm that trades them. perhaps the online trading expo next month will be a good place to see how many firms, and in what capacity, will focus more on futures.

cheeks · Jan 26, 2003

Apparently I am missing something. Why trade futures at a prop firm? You can get all the leverage you want on the retail side, so what advantage is gained at a prop firm?

Thanks to anyone willing to enlighten me.

cheeks

Jayford · Jan 27, 2003

Quote from cheeks:

Apparently I am missing something. Why trade futures at a prop firm? You can get all the leverage you want on the retail side, so what advantage is gained at a prop firm?

Thanks to anyone willing to enlighten me.

cheeks

I've also wondered about this. I guess some people may be looking for a prop firm to that would take the risk.

The amount of leverage available for day trading futures is more than you would want (many brokerages offer 4X the standard leverage required for overnight trades, and 2x is standard pretty much everywhere). This is definitely enough to hang yourself with.

I believe transaction costs would also be much lower going retail. Not sure how a prop firm could make money otherwise.

Jay

Jay