What is needed to start a small trading room?

Well, I am a pig .......and one of those midgets chased me right off the dance floor....I will never joke about them again.

As far as the hunt.......I would never shoot a midget.

Take it from me.....

Michael B.
 
Don't forget....you also need the traders.
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That's the hardest part.

You need good consistently profitable traders who are smart enough to trade well, but dumb enough to let someone else (trading room operator) have a big portion of the profits.
 
Quote from tt1452:

Proposed location Philadelphia

After the post by TM_Direct I called some friends in commercial real estate to inquire about the possibility of a setup already in place.

Haven't heard about anything available yet...........
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I lived in Center City Philadelphia for about four years, unfortunately there aren't any trading rooms that I could find. The nearest office was in Conchahacin(sp) or Brigths office in Mt. Laurel, NJ.

I think if you're able to setup an office in Philadelphia, you may get quite a few traders, some of them even from Philly stock exchange. Like most urban cities, Philadelphia has been hit hard by 9/11, rents should be quite reasonable.
 
Quote from chessman:



I lived in Center City Philadelphia for about four years, unfortunately there aren't any trading rooms that I could find. The nearest office was in Conchahacin(sp) or Brigths office in Mt. Laurel, NJ.

I think if you're able to setup an office in Philadelphia, you may get quite a few traders, some of them even from Philly stock exchange. Like most urban cities, Philadelphia has been hit hard by 9/11, rents should be quite reasonable.
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There is tons of office space left by tradingfirms that went under...probably the best thing to do is to do a search of some of the firms that went belly up and see if they took out space in your area...that includes groups that perhaps didn;t go belly up but were bought out, like Momentum, Tradecast, ext, alltech ect...
 
Quote from TM_Direct:




There is tons of office space left by tradingfirms that went under...probably the best thing to do is to do a search of some of the firms that went belly up and see if they took out space in your area...that includes groups that perhaps didn;t go belly up but were bought out, like Momentum, Tradecast, ext, alltech ect...
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I cannot believe how cheap some offices rent for in my area. My partners and I are serioulsy looking to start an office in the East-bay area of NorCal, or nearer to where I live in Montery/Santa Cruz county.

As spreadum mentioned I already have the arrangment with the clearing firm already set up and I feel the key is just identifying the "right" type of professional traders to share in the office.

I'm not even sure the demand is their. I think someone else mentioned that just finding other traders that are compatible and your comfortable trading with and to share in the cost, is difficult enough

rttrader
 
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