The "access to" is the red flag. From were? Thousands? Millions? Bitch to feel important? Not in this case. I'll put that ball in your court Mr Guru. I posed legitimate questions that any succesful trader will ask you. You can't answer them? Bottom line is it'll never happen so do yourself a favor and just focus on trading your own account and making tons of $$$.
Anyway, perhaps a trading group would be a better idea, less hassle and startup/rent plus we can write off a portion of our house expenses etc. I do think that there's some potential to the idea of a forex prop shop. Pretty much all the prop shops are equities futures, etc. There's just a handful (that i've found) of forex prop shops around the world. My idea was to pool funds together to get better execution/fee structure for trades. Also human interaction and having an office to go to would be nice. Anyway sorry to come off as an ASS but i didn't see your comment as constructive at first. Now I realize it was. I've worked for a prop shop and the training was horrible. It was basically put as many guys in front of screens as possible and see if they can figure it out. Not really any money managment position sizing training, their edge was only in having zero execution fees and getting pass through fees for adding liquidity. Are there other Forex traders in the Calgary area that would like to perhaps start a group where we meet once a week and stay in contact on trades etc? I work for a corporate foreign exchange firm but i'm the only one that spec trades, nobody else has a clue how to spec trade, its like talking to a wall. PM Me if anyone is interested in FX in calgary. Sorry for the disrespect and being a bitch myself haha.
I was trying to be constructive - tactless but constructive. Anyway, your current description is far more accurate and professional. In theory the idea is good but it's been attempted many times and no one has been able to pull it off. About a block from my office is a restaurant location that has changed hands at least 10 times in three years. Each never lasted more than 3 - 4 months. Each had to have lost money. I always wonder when driving by "What makes each new renter think that they can make it work in that doomed location where every other has failed". Get my point? There's an underlying reason.
I would be seriously tempted to go west again if you offered FX options. Would you have any interest in helping me scale up long varience versus implied vol strategy?
I hear you loud and clear. There's a restaurant I always pass by that seems to change hands once a year. NOthing wrong with being at home trading, I quess im looking for more interaction with other traders in the area. Any ideas?
Plan on using currenex, hotspotFXi, maybe Lava, going through Dukascopy, MF Global FX Clear, and/or GFT Prime. Not sure exactly but the more size/volume traded the better the comission. I like the idea of using Dukascopy because of having my money in a swiss brokerage I can can claim what i want for taxes. Send myself a nominal salary and let the rest grow What do you think?
I would strongly advise against Dukascopy. I just had a 6 month stint with them and the inside volume was universally terrible. I go into further detail here, whatever they are doing, they are certainly not aggregating Lava & FXi straight up.. Speaking of which, HotSpot now offers FXi prime via Knight at $20 per mio. You probably won't be able to beat that going through most other prime brokers unless you're doing huge volume (over a yard a month). Currenex is just a front-end, there's a wide variety of quality depending on which underlying bank hub you're connecting to. Must be some advantageous tax policies up in Canada. Unfortunately for us yanks down south, this idea would get us into a bit of a tussle..
Ill have to talk to my accountant about the exact tax policies. I like some of the featurs for Hotspot that I haven't seen anywhere else. like the easy to view depth color coded to size. I'm sure I could program that myself if I was a programmer but if it's already done... ? Great! Ill look into hotspot FXI Prime. What doy ou mean Via Knight? Thanks for your insight, greatly appreciated!