Where to go for leverage... and other questions

[coolweb]

nice thread izzi

you should get your series 7, I'll be studying for it in a bit as well.

Lets say you get a 1:4 Overnight
usually 1:5

Thats $600k overnight,
Probably a 1% haircut interest per month

Thats $6k interest a month
Probably can get much less then 1% interest, Maybe some profit sharing lower that down to a 0.5%

$3k interest a month

Also considering we won't be in ther market all 30 days.
Maybe 15 of the days

Thats $1.5k interest a month, beautiful!

Sounds good to me if you have something scalable and consistent.

 

[lescor]

I run a strategy whereby I manage dozens of positions as a whole portfolio. Hedging, income, stat arb, etc. All nyse listed securities.

I went home friday carrying over $2 million in positions in an account that I keep under $100k. The interest that I pay on that leverage is well worth it.

Echotrade, Assent, Bright, Carlin, etc all will accomodate this type of trading. How much overnight leverage they give you and what they charge will depend on your track record, how much capital you put up, how well they know you, etc.

Series 7, and sometimes 55 & 63 is a pre-requisite for all these places though. Something to consider.

Quote from izizi:

Lescor, thanks for your response. It is not so much the calculus of the payoff- isn't- worth- the- effort from which one can conclude "I don't want it bad enough." Rather I am weighing several options of getting leverage-- some that cost $$ (a fund) vs. some that cost time (prop with series 7). I definielty want it bad enough, but have different ways to skin the horse to use a lame metaphor. This (new to me) idea that I can get leverage from a prop firm with neither aforementioned "expense" (time or money) is what I am trying to explore here. Where do you trade? Do you like them?