Do prop firms want you to be flat EOD?

Discussion in 'Prop Firms' started by ortega, Jul 13, 2003.

  1. ortega


    Do most prop firms want their traders to be flat at the end of the day (i.e. not want swing trades)?
  2. Swing trading doesn't generate too much commissions.

    Unless, you have some spectacular track record...
  3. ortega


    Do firms where you are a customer allow swing trading? Also, what kind of margin can you get? Is it still 4:1 or can you get more? I have been reading about Bright and Echo. Since they aren't getting a cut of profits, they must only make money on commisions???

    Thanks to all who offer info!
  4. ortega


    Also, do coming in as a customer, do they have minimum amounts? Is 25k enough, 10k?
  5. nothing burns commissions like pairs!
  6. you have to do what is in your best interests...

    if you're comfortable with a position or stock, then remain so,

    however, trading is not investing and holding positions is investing...

    so you have to balance your entire mindset and objectives with either swing trading (investing) or trading (scalping and day trading and commission generating)
  7. cashonly

    cashonly Bright Trading, LLC

    We don't require our traders to close their positions at the end of the day. Swing or pure day trade... whatever works best for you is what's important.

  8. perhaps that's why Bright doesn't have anymore seats available, especially in their NYC office....

    good policy Cash,,,,
    seems the other firms could really learn from you(s) guys
  9. Holding positions overnight IS NOT the same as investing. I think you'd have a hard time finding others to agree with you on that one.

    And btw, I trade with Assent and am leveraged 20:1 or more every day of the month, most positions are fully hedged though. I also know for a fact that Echotrade has no issues with overnights either.
  10. ortega


    Thank you all for the info. Yes, I don't know if I would consider holding overnight "investing" but you all most likely have more experience than I.


    when you say hedged, what do you mean? I know what hedging is, but are you hedged with options, or off-setting positions in stock with similar correlation, or what?

    also, for anyone, i am curious as to how much is resonable to start with? can one do it with 10k or do you need at least 25k?

    thank you!
    #10     Aug 1, 2003