Does anyone know of reliable prop firms which offer 10:1 or better (20:1) Intra-day Buying Power? If such prop firm is offering API, it's even better. - Simple Keep It Simple!!!
Since it takes at least $1-$2 million to make a decent living, I would guess that 40-100 times is available, right? Mav, maybe we better do that Prop workshop sooner than later. LOL. Don
I completely disagree that it takes $1 to $2mm to make a decent living...I know many traders that do very well off $100K. I agree,however, that the poster shouldn't have a hard time finding 10 or 20 to 1.
Thanks Don/Mav for the reply. Actually I'm looking for the Prop firm who provides the API besides the leverage 10:1 or better. I checked with IB and Genesis and they are offering only 4:1. May be I did not market myself correctly. As far as the amount of investment to make better living is concerned, I think I can easily achieve it with 50K investment with 10:1 leverage. My software has been consistently returning 0.75 - 0.8 % per day ( backtested for entire one year ). There is plenty of room built for scalability to utilize large investment effectively. What I'm now looking for is a good firm with reliable API, decent trading fees and good leverage? I'm as such satisfied with IB for first two (API and Fees). - Simple32 Keep It Simple!!!
Goldman Sachs / Redi API. "We offer a range of products and services which facilitate seamless, effective integration of your trading system with RediPlus. Financial Information eXchange (FIX) - Our support of the FIX interface allows order submission, order management, and retrieval of execution information. We utilize an industry standard implementation of the FIX protocol, for which more information can be accessed at www.FIXProtocol.org. Our FIX servers currently run in either 4.0 or 4.1 mode. These modes also support FIX tags that have been defined in later versions of FIX in terms of options, futures, exchange specific order types, and corresponding functionalities. We are certified with every major Order Management Systems and support all key Network Service Providers. Additional functionalities with FIX include access to most major US and European exchanges, smart order routing and broker-to-broker solutions. We also have access to booth routing and the integration of all major Order Management Systems into RediPlus. API - APIs are offered through RediPlus that allow the integration of your application into our platform and allow the retrieval of market information, order submission, order management, and retrieval of execution information. We support two distinct types of interfaces: DDE links and Active-X controls. 1. DDE links allow you to link your application, typically Excel, to RediPlus to receive live data. The DDE links support both market data and execution reports. 2. Active-X controls are a set of objects that expose selected functionality of the RediPlus client application. These functions include order entry, limited L1 market data and execution information." More details: http://www.redi.com/fixapi.html Is that what you're looking for? Don
This is an imbecilic statement. Many very solid traders have less than 500k BP. Steve Tvardek, for example, has posted on here religiously for a while and only recently got 1mm BP - was at 300 and 500k for a long time and made bank with it. Don is completely full of shit.
Don, Either FIX or tailor-made API would work. But do you think big firms like Goldman Sachs will give a relatively new trader like me a kind of leverage I'm looking for (besides competitive trading fees)?
It's Bright Trading, not Goldman, who guarantees all the money for all of our traders. A whole package is required IMO, leverage, financial safety, fee structure, and environment. Don