Registered: Aug 2009
05-22-11 01:07 AM
I've been day trading for years and have made a good living doing so, however I've come to realize that it's simply not as consistent as it once was due to the heavy amount of hft trading, I've also realized that extending my holding period from intraday to multiday completely cancels out the influence of program trading.
I've been day trading using 4 to 1 leverage for a long time (I used to trade 30-1 but after tuco went down some years ago I took all my money out of my prop account and began trading from a federally insured account) and I have an IB account for my long term trading which is un-leveraged. What I'm looking to do is start a swing trade account (holding period 1 day to 2 weeks) that will allow a minimum of 4-1 leverage overnight. I'm ideally looking for 10-1 overnight but I'm not sure if firms offer that anymore.
I'm looking to open the account with somewhere between 25k and 50k. I trade approximately 8 million shares a month, however I would assume that this number would decrease due to holding positions for a longer time frame. I'm still planning on day trading as well but the vast majority of the trades will be swing.
If anyone knows of any good RELIABLE prop firms please let me know. I'm looking to trade remote and would prefer using lightspeed but it's not a deal breaker.
I live in NYC and would definitely want to check out the firms in person and meet the owners in person before depositing. So if anyone knows anywhere solid please let me know..... I'm aware of Avatar and T3 already... As I understand T3 requires some type of "training fee".... I'm not looking to be trained, I just simply want to put money into my account and trade. If I got the wrong impression about how T3 or any of the 15 firms that trade through them work then please let me know because that's the general understanding that I have. I know avatar used to be a decent sized firm but I haven't heard anything about them in a few, same with dimension.
Any suggestions from actual firms, traders or ET users would be appreciated. Thanks.
If everything goes well I will also be converting the 2 other big day traders to swing trading with the firm I end up using to trade.