I don't use them currently, but I think they own Lime, are offered by Sage and a number of others.
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Seeking a Prop Firm
- Thread starter dave_s
- Start date
I don't use them currently, but I think they own Lime, are offered by Sage and a number of others.
I don't use them currently, but I think they own Lime, are offered by Sage and a number of others.
Sage primarily clears through Merrill all of their clearing firms use this same stress scenario, 20 to 25 percent down and a 50% spike in Implied Volatility.
With the demise of portfolio margin due to increased requirements of clearing firms, I am interested in finding a Prop Firm with equivalent allowed leverage for swing trades (15 to 90 days). I almost exclusively trade SPX options.
Any ideas?
Bear in mind that with prop firms these days you got to be willing to give up some of your earnings if you are profitable...
Bear in mind that with prop firms these days you got to be willing to give up some of your earnings if you are profitable...
If one trades in only 1256 contracts, is there a benefit of detriment from a tax perspective to be treated as a proprietary trader?
I was going to ask the same question. New user to the forum.
Been trading since 1996. Started at the old ETG (RIP, great place) and have been trading with a firm in Chicago since. Great people but get the feeling that they are becoming too risk adverse. Started trading options in 2007. Some position trading but mostly premium and or spread selling. Did well in 2008 and have had varying degrees of success since. Most trades now are on Friday. Approximately 5000 contracts every Friday. Made around 7 figures last year and have averaged high to mid 6 figures since 2007.
Due to the risk reduction where I am currently at, I have gone from having 6 total down Fridays since 2007 to having had 6 in the past 4 months. So much for risk reduction! New parameters hurt my process. Personal capital has taken around a 30% hit.
Looking for a new prop firm. Wouldnt mind going with a backer and giving up some of the upside as I have been at this racket for a long time. Does anyone know of a good firm that does deals like the "old ETG"? I have heard good things about Chimera and T3. Would be interested in hearing about other firms or having a discussion.
Thanks again and sorry for the detailed post. Just anxious to try and get back into the groove that i have had since 2007. Just looking for a firm who understands what I do, and can handle the intra Friday risk.
Been trading since 1996. Started at the old ETG (RIP, great place) and have been trading with a firm in Chicago since. Great people but get the feeling that they are becoming too risk adverse. Started trading options in 2007. Some position trading but mostly premium and or spread selling. Did well in 2008 and have had varying degrees of success since. Most trades now are on Friday. Approximately 5000 contracts every Friday. Made around 7 figures last year and have averaged high to mid 6 figures since 2007.
Due to the risk reduction where I am currently at, I have gone from having 6 total down Fridays since 2007 to having had 6 in the past 4 months. So much for risk reduction! New parameters hurt my process. Personal capital has taken around a 30% hit.
Looking for a new prop firm. Wouldnt mind going with a backer and giving up some of the upside as I have been at this racket for a long time. Does anyone know of a good firm that does deals like the "old ETG"? I have heard good things about Chimera and T3. Would be interested in hearing about other firms or having a discussion.
Thanks again and sorry for the detailed post. Just anxious to try and get back into the groove that i have had since 2007. Just looking for a firm who understands what I do, and can handle the intra Friday risk.
If one trades in only 1256 contracts, is there a benefit of detriment from a tax perspective to be treated as a proprietary trader?
With most prop firms you will file K1 i.e. master limited partnership, with others 1099 i.e. a subcontractor...You should forward your question to Green Trader Tax and see what they say...