Is there any prop firm in the US that can offer a wide selection of stocks to trade? I see that most firms are futures and FX. My strategy can make tons of money with minimal drawdown https://www.elitetrader.com/et/threads/prediction-based-trading.351176/page-42 so I'd like a fair bit of leverage. However, I cannot replicate this performance with futures or Forex; only stocks. There are a few but apparently they have high commissions, force expensive (and useless) courses, fees, etc. I'm willing to give up a wide profit split, and I'm willing to put up a deposit with the losses eating out of that deposit. I just haven't found a single good firm out there and I don't think it exists. FTMO's model is excellent and their tight criteria for drawdown and holding period and stringent live testing etc is tailor made for me... they just don't offer stocks though. Bright Trading has high fees and make you go through a course (unless the deposit is 50k) and a couple of exams as well.
Why wouldn't a traditional brokerage like Schwab work? Is it because you need leverage? In that case, would your system work with options?
IB in the U.S.? Commissions are basically nothing, margin is like 1.5% or something crazy low. Just watch out for their customer service lol.
I have the same case. Check out Trader2B, they offer plenty of stocks, just make sure your strategy generates good amount of trades per month, as their evaluation process needs at least 200 trades on demo before you can go live & funded.
Yeah I need leverage. Options have greater slippage. My system does work with options (not weeklies but bi-weeklies) but it works better with stocks.
Hmm. I typically do half of that. Does live require such high rate? I could make a lot of winning trades and buy and sell immediately for the others even if lost to make it. It seems to me that just want fees for high trade rate.
I heard IB is bad yeah. Do you know min deposit in order to get the 1.5%? I'd imagine 25k min to avoid PDT is also a requirement regardless of buying power.
No. I mean, for their evaluation process before they fund you, you need to reach a specific profit target AND minimum 200 trades, but no time limit. For exmpl.: If you do 10 trades per month with very high R/R, you can reach the profit target within a month and than trade demo for 19 more months until you reach the 200 trades track record and they fund you with real money. Just check their site. The other thing with them is: no overnight holdings. Just daytrading.