A Trader's Agent?

Discussion in 'Trading' started by Andre, Jul 28, 2003.

  1. Andre

    Andre

    Not sure how many of you have checked out one of our newer sponsors on Elite Trader, DirectNet Trading... but they sure seem to offer a truly unique service to traders, and that is as being a "Trader's Agent".

    DirectNet Trading negotiates pricing structures for experienced, high volume traders. And they also leverage private institutions or "trader banks", which provide supplemental trading capital for equity and options traders.

    So my question is, am I the only one to have just found out about this? It sounds fascinating. Has anyone ever used an "agent" to get a better rate?

    André

    By the way, Dave Babich of DirectNet Trading will be joining us in the Elite Trader Chat Room on Tues., July 29th at 4:30pm EST to discuss what a "Trader's Agent" can do for you.
     
  2. i believe they used to be "innovative traders".
     
  3. i don't think you need a middleman to negotiate for you. better for a trader to pick up the phone and call some of the prop shops and close a deal on their own.
     
  4. its a logical step

    professional athletes have them, as do filmstars, musicians and other 'performers'. So why not top-performing professional traders? \

    it only makes sense

    triple
     
  5. Andre

    Andre

    i believe they used to be "innovative traders".

    Correct, DirectNet bought out Innovative Trading earlier this year.

    i don't think you need a middleman to negotiate for you. better for a trader to pick up the phone and call some of the prop shops and close a deal on their own.

    Perhaps. I've certainly heard how a group of traders can get a better rate, but I've also heard how, individually, one has little negotiating leverage.

    André
     
  6. Brandonf

    Brandonf ET Sponsor

    My understanding is that with firms like DirectNet one need not have a series 7 or 55, which you do with a Prop Firm, yet you can still use bullets, get low rates, have extra leverage etc.

    Brandon
     
  7. VOLUME

    VOLUME

    Is the most ridiculous thing I've ever heard of.

    Your trading record speaks for itself. If someone is too lazy to cut their own deal, then odds are they aren't good traders anyway.
     
  8. agreed 100%, besides who needs another middleman?
     
  9. damir00

    damir00 Guest

    not sure what their value-add is here. they look a lot like the trading equivalent of a mortgage broker. which doesn't mean they're bad or evil or anything.

    just not clear what value they're adding.
     
  10. i can see the benefit. it's always better to have someone doing your singing for you. plus, if they refer x number of people to a firm, i bet they get better rates. like negotiating as a group, only they organize the group.
     
    #10     Jul 28, 2003