looking to start trading solo, need tips on brokers and more things..

Discussion in 'Professional Trading' started by di1836, Aug 3, 2010.

  1. di1836


    i currently trade at a prop firm and i've come across a high-frequency trading strategy i'd like to start using, but rather than doing it at the firm and having to cut them in on my profits, i'd like to break off and start trading on my own. my problem is i don't know much about back office stuff or the technical nature of the business. to properly execute my strategy (which will involve doing about 50-100 round trips a day and trading about a quarter million to a million shares a day) i know i need a very fast platform that can execute my commands instantaneously and i need a very low commission structure - something like $.20-$.40 per thousand. my strategy also relies heavily on being able to get good fills and having good routes at my disposal. what are some b/d's i should be looking at and what criteria should i go by when making my choice? any help will be greatly appreciated here. thanks in advance.
  2. high frequency trading ? Are you new to the trading game ? The correct term is scalping. The media might have coined this term, but us traders had it coined as 'scalping' a long time ago.
  3. di1836


    ok... so scalping. any advice or are you just in the business of breaking balls?
  4. I'm only in the business of breaking balls.

    But if I was to give advice, I'd say stay away.
  5. From "to properly execute my strategy... trading about a quarter million to a million shares a day" I'm guessing it's some kind of index or ETF versus components strategy? If so, good luck with that... If that's not the case, why is it necessary to trade such big size on day 1?
  6. If you do your Due Diligence you can negotiate fee. platform and payout schedule with many prop firms in NY, you can possibly negotiate extremely high % payout if you have a track record, or if you put down a capital deposit and trade remote. Google.com is a powerful tool.
  7. di1836


    i havent found any NY firms that offer commission that is lower than $1.00 per thousand commissions, even using this powerful googling device you speak of. do you know of any?
  8. nightrate


    may be able to help you. pm me
  9. Mu$hin


    I just saw a post by a firm called bear trading that may support what ur looking for. Just called them up and spoke to a guy named Bart and waiting for him to call back.

    I'm in your same situation...maybe we can keep in contact and let each other know if we find a good firm.
  10. apama1


    A legitimate edge.

    Low commissions

    Small stops (already stated)
    #10     Sep 1, 2010