West Coast vs East Coast trading

Q

QuoteBoy

I just love this board.
Somewhere here I read that somebody thinks prop trading or firms or opportunities are better on the west coast.

I'm a New Yorker, but after the madness around here, fun and sun sound good. So if I go into prop trading, why or why not go to Cali?
I didn't find the post on it, but what possible things would be different, besides time zone?
 
QB,

There are also several firms in Florida. With that you get the best of both worlds...beaches and sleeping in. :)


Kirk
 
Taxes in NY and CA are outrageous. No state income taxes in FL or TX. I live in Dallas, TX, does anyone know of any prop firms here that are hiring using the firms funds. Thanks for any info.
 
jskeldon,

interesting about no income tax in TX and FL, do you know of any other states without income tax? what about TN?

i live in IN which has 3 1/2% tax but without the deductions and exemptions found in Fed income tax
 
Washington has no state taxes and if you live in Vancouver, WA , you get the benefits of living closer to Portland, OR as well which has no sales tax.
 
Here is what i found

No State Tax states.

Alaska
Florida
Nevada
New Hamsphire (5% on dividend and interest income)
South Dakota
Texas
Washington
Wyoming
 
QuoteBoy,

what possible things would be different, besides time zone?

I trade from California and I strongly recommend that you don't underestimate the 3 hr time difference. With the market's opening at 6:30am out here, you have to get up around 5:00-5:30am if you trade from your home, and 4:00-5:00am if you trade out of a prop office. Unless you adore getting up at those ridiculous hours it doesn't have a whole lot to say for it. Florida might be a good alternative to maintain the 9:30am market open, the warm weather, and no state taxes.
 
Originally posted by crazy_trader
Here is what i found

No State Tax states.

Alaska
Florida
Nevada
New Hamsphire (5% on dividend and interest income)
South Dakota
Texas
Washington
Wyoming
More...

Tennessee also has no income tax (6% on dividend and interest income)
 
One thing to definitely consider: are you a "morning person"? Market opens 6am out there. Allow an hour or two to get ready. If you have a hard time getting out of bed you may want to reconsider.
 
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