Your help is needed please...

L

LVtrader35

I would like the boards opinion and assistance please on a firm you feel I should speak with. Below is a bit of information on what I am looking to accomplish:

1. Need to trade remote- I live in Las Vegas and do understand there is a great well respected outfit locally.
2. Have no desire to take the Series 7.
3. My daily volume would be approximately 40-100K shares.
4. I trade in lots of 1000, 5000 and 10,000 shares per side and I prefer to trade in the 10K share per side range about 60 percent of the time.
5. Execution is the most important thing to me as the large share trades (10K per side) are my bread and butter.
6. Ticket cost is the second most important thing to me.
7. BP is the third most important thing to me. I have 50K-100K I can post up with no problem.
8. I carry no overnight trades at all.


Please feel free to add what type of "deal" you feel would be fair for the above information given and what firm(s) I should have a conversation with.

Appreciate the boards help!
 
Your large share size (10K) is your bread and butter, yet you only do 40K-100K shares a day? Do you do one trade every few hours? You won't exactly have prop firms banging down your door!

Since you don't want to take your series 7 and you do very low volume, you're better off just opening an Ameritrade account.
 
My larger share purchases are longer day trades but I don't hold overnight positions.

My smaller ones are purely for scalping purposes only.

What type of volume do you feel is valid to work with a Prop firm?

Thanks -
 
You can do any volume you wish. Just remember that the more volume you do, the more negotiating power you have to lower your rates. When you do low volume, then commission rates don't really matter that much as long as they're fairly competitive.

But if you're unwilling to take your Series 7, then your options will be severely limited.
 
I would have thought the 10k shs trades would have been short term,and the smaller shs size longer intraday trades.
Being a prop trader myself,I would question why the series 7 and using the firms money would be a hurdle,try it,I think you'll find joining the right firm,will make a huge difference.
 
Well he's probably trading the penny stocks for 10K+ shares so the risk is pretty low. He certainly can't be trading GOOG!:eek:
 
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