Prop Firm Proposal

T

trader99

Hi Guys,

I'm asking which prop firms would give the best deal for the following scenario:

1) I'll put $25K-$50K deposit and possibly more over time.
2) The most overnight leverage with little to no haircut(I'm currently a a swing trader though I've done daytrading as well) 10:1?
3) What's the most intraday leverage offered? 10:1? 15:1?
4) Software for trading alerts
5) No minimum shares. Time frame for intraday 6:30-8am PST for daytrades. And the rest for swing trades(overnight to a few days. not position trading)
6) Best commission for the request above. Preferably no desk fees and training b.s. I'm an experienced trader. I make decent money trading on the side. I'm just looking for more leverage.
7) 100% payout. I'm willing to entertain less payout(95%) for more leverage.
8) Of course, withdraw capital at anytime with no one year hold period bs.
9) I've been around the block and done the prop shop trading before years ago.
Not a newbie.

Please send me your proposals and ideas.

Thanks!

99
 
trader99 said:
Hi Guys,

I'm asking which prop firms would give the best deal for the following scenario:

1) I'll put $25K-$50K deposit and possibly more over time.
2) The most overnight leverage with little to no haircut(I'm currently a a swing trader though I've done daytrading as well) 10:1?
3) What's the most intraday leverage offered? 10:1? 15:1?
4) Software for trading alerts
5) No minimum shares. Time frame for intraday 6:30-8am PST for daytrades. And the rest for swing trades(overnight to a few days. not position trading)
6) Best commission for the request above. Preferably no desk fees and training b.s. I'm an experienced trader. I make decent money trading on the side. I'm just looking for more leverage.
7) 100% payout. I'm willing to entertain less payout(95%) for more leverage.
8) Of course, withdraw capital at anytime with no one year hold period bs.
9) I've been around the block and done the prop shop trading before years ago.
Not a newbie.

Please send me your proposals and ideas.

Thanks!

99
More...

That would be an incredible setup. However, I can't see how the prop would make money. I would definitely go with that deal even with a lockup.

I have thought about opening an account at Suretrade for a nominal amount. The are a few times a year where I could use that intraday leverage without fees to trade the underlying.
 
Last edited:
syswizard said:
You didn't mention the commission rate you are seeking ?
More...

Something reasonable. I actually don't need ultracheap rates since I'm not a scalper. But I would trade size(not heavy size all the time but enough size enough times that commission would add up). I've been out of the prop trading for a few years. What is a good but not necessarily cheapest comm rate are nowadays? thanks
 
xandman said:
That would be an incredible setup. However, I can't see how the prop would make money. I would definitely go with that deal even with a lockup.

I have thought about opening an account at Suretrade for a nominal amount. The are a few times a year where I could use that intraday leverage without fees to trade the underlying.
More...

Thanks for pointing out suretrade.

1) 6:1 intraday margin. Nice. I think Bright offers more intraday? But since this is a retail brokerage setup one has access anytime with no lockup.

2) Only 2:1 margin for overnight which is like everyone else. And the overnight APR is 7.5%?!! geez.

3) Commission:
$4.95
per trade
up to 1000 shares, $0.00495 after.
| $4.95 + $1.00 per contract

Not great but not bad. I can live with them. I'm sure prop shops offer much better rates. But again given this is retail setup...

4) How would a prop firm make money?
If over time I trade bigger and bigger size then the comm would add up. Or I could go down on the split instead of 100% maybe 90% or whatever. Or other creative things that we can discuss in private..
 
Mind You, I am not making a recommendation to make this a main trading account. I question if a firm like this will survive a bear market or just wrap things up. My interest in it is as a sub account when you occasionally need to goose the leverage intraday.

Prop Firm make money on commish, desk fees and/or a payout structure. There's much more knowlegeable guys in this area on ET. Unfortunately, the industry is really geared to day trading. If your set on overnight holds for the bulk of your profits, it will be a tough search. Especially, with interest rates set to rise. Putting on more day strategies is not a bad idea, if you got 'em.

Tell us you find.
 
trader99 said:
Something reasonable. I actually don't need ultracheap rates since I'm not a scalper. But I would trade size(not heavy size all the time but enough size enough times that commission would add up). I've been out of the prop trading for a few years. What is a good but not necessarily cheapest comm rate are nowadays? thanks
More...

We all know who the name brand commission seeking props are. They have been around a long time for a good reason.

Other than that and with your experience have you considered applying to a prop firm trading their capital for salary and bonus? That would be the best setup of all.
 
xandman said:
We all know who the name brand commission seeking props are. They have been around a long time for a good reason.

Other than that and with your experience have you considered applying to a prop firm trading their capital for salary and bonus? That would be the best setup of all.
More...

OK. I do know some of the name brand prop are. Please list all of them that you know since I have been out of it for a few years.

As seeking prop firm employment, nah. I'm working at a very nice white collar professional job that pays me very decent. I just want to trade on the side.
 
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