Recommendation on which prop? Overnight leverage a must.

J

JBahn

Hi guys,

Hoping someone can help me out here. I am looking for a remote prop shop that allows for overnight leverage. I run a pairs book with listed equities over 300k average daily volume. I dont mind getting a Series 7, but dont currently have one.

I have four years of trading experience, though only one year of a track record that I can claim (traded for HF). All years are profitable.
Thanks in advance
Cheers.
 
The obvious choice is Bright Trading for what you need. Search for Don Bright and read what he has to offer and the associated costs. Try to ignore the ensuing noise.
 
I spoke with Don, and wasnt very impressed with their operation. I found their fees to be laughable and more inline with someone who is just starting out in the business.
 
take the $300k and trade futures.move leverage and you keep MOST of your cash...always better to trade for yourself...just a thought...you can google Futures brokerages if relatively new to trading...
 
I run a stat arb algo that handles only equities, and that is what I want to use a prop firm for. I do trade futures on an intra-day, discretionary basis (gambling), but have never been profitable w/ them. Futures do not represent a wide-enough universe for the system I am trying to place.



Thanks for the suggestion though.
 
you are basically asking who is willing to risk blowing up for very low fees.

Most of these prop groups have already been blown up.
 
Quote from JBahn:

I run a pairs book with listed equities over 300k average daily volume.
More...
Quote from increasenow:

take the $300k and trade futures.move leverage and you keep MOST of your cash...always better to trade for yourself...just a thought...you can google Futures brokerages if relatively new to trading...
More...

Hey good reading inky! He said his volume is 300k shares a day, not that he has $300k. You're a moron.

No wonder why you still are a failure and still trading demo accounts.
 
jem - how do you figure? Seems like kind of an off the wall comment.

My sharpe is @ 3.3 so I dont think I pose a risk beyond the average prop trader, though I am new to the prop business so my feel of the "average book" is off I am sure.

So far, I have had several offers for portfolio margin size leverage, but that seems to be the norm. I, of course, am not going to pay a prop shop for something I can get from interactive brokres.
 
You want something for nothing. What kind of business model is it to give you cut throat execution costs and high overnight leverage. It's not worth it for a proprietary trading firm that doesn't want to blow up to take your business.

Bright Trading does over above normal overnight leverage. But he does charge more than your typical proprietary trading firm. I don't know why you didn't like what he had to offer but Bright is a highly reputable firm and has been around for a long time.

Just my 2 cents.
 
Quote from bpcnabe:

Hey good reading inky! He said his volume is 300k shares a day, not that he has $300k. You're a moron.

No wonder why you still are a failure and still trading demo accounts.
More...
trading for real now...
 
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