Hi Shizzy, Pasadena great.. I not alone Sure Vingbel, I will like that. According to Fractals, I missed the holy grail before in Granada Hills...don't want to miss it again. I think there are more of us here in LA, we will wait & give every a chance to say hi.
West Hollywood here. Do you all trade from home? Anyone knows of trading offices in LA? Would be nice to trade at an office once in a while.
Do you want the short answer or the long. My assessment over the past several months since I have been looking for a good prop firm office in LA is not encouraging. The short answer...my understanding is there are only 2 good prop firm office in SoCal. The long answer is this... I never traded with Tuco but I've come to realize why they were so popular. They provided a service that LA traders desperately needed. Some people just didn't like the competition Tuco brought. They were able to pull so many traders to their firm within a short time. There was a very high demand here for their services. Unfortunate, they were not licensed & we've all read about their unfortunate mistakes/wrong doing..what ever you want to call it. But we cannot dismiss the fact that we need a good properly licensed firm in LA. Yes, Asssent has an office here, so what? You can't just have a fancy building with computers & pretend to be providing a service, when you don't even know what the service is. If they are not here blocking the progress, other firms in Chicago will establish a branch here. However, since they are here, others think that our needs are being met which is a false presentation. As long as they have no competition, they will never see the need for improvement. Therefore, they will keep getting worse. âThe worse management team everâ is what I keep hearing from their traders that I know. Of course they will try to deny it but we all know that their lack of concern speaks louder than their words. People that have traded with them RECENTLY, know that they are far from good. The one thing they have going for them is Anvil but even that is also becoming a problem. In spite of the office, majority trade remote from home because they can't stand the âoffice politics.â Their sub LLC groups are the only ones that really utilize that office. You do not want to do business with a sub LLC due to unsafe funds. Many of them are in hiding anyway. They will try to proposition you even here on ET but they are afraid to answer question about their firm. They want you to just hand them money without questions, when you start asking questions, they disappear. They are using SEC as excuse to be evasive. They think everyone work for the sec. Why will anyone want to send money to these mock firms, protect yourself because they are desperate for money especially now. Check the websites of these sub LLC with no license, you will see what they have in common...no proper contact address & phone #, other than so-called technical support line. LA traders deserve better. Isn't it unfortunate for a big city like LA not to have a good office. Many people are looking for the same answers as you, just search ET forum & other trading forums, you will see. We need to do something...lobby the good prop firms in Chicago to invest in LA by creating branches here. Once we get a good one, then we are more likely to get another. Unfortunately, this is the wrong time. This economy is getting worse & will spread its bad seed for another several years. Therefore, some firms are not expanding, due to economical uncertainty but this shouldn't stop communication. Start the ball rolling just like I have. Send emails, call, communicate with the CEOs & ask for exactly what you want. The least we can do is ask. Don't expect them to jump to the demand but at least they will put us on their record as a city with many traders. They will not come here if there is no demand, no traders to utilize the office...if they think we have it covered. Having said that here is a list... Recommended ..Wasserman capital, LA, 949-584-1894..good only for some traders due to their specific trading style ..Bright Trading, Arcadia, small office..no space, hopefully, may move to a bigger office soon, high fees Unknown (not enough assessment) ..EWT Trading, Beverly Hills, trade futures, not sure if they trade equities, offers lots of benefits Not Recommended ..Cy Trading Group..sub LLC, unsafe funds ..Guardian trading ..sub LLC, unsafe funds..both this & Cy are probably being run by same office ..Assent's..many unresolved problems due to poor management team, all management decisions come from their head quarters.. not run by traders. I've heard good things about Echo but they don't have a branch here. I trade retail, I am not with Echo or Bright so I have no motive here, I can speak freely & honestly. I know some people give Don a hard time due to their high rate but Bright is the only one on this list that are very open & honest about their firm & willing to answer questions, nothing to hide. They offer security, respect, & growth opportunity...very crucial. They know what we do is difficult & they respect us for it because they do it also...with them you don't need million$ acct to gain the respect that everyone deserves. With Assent, you are always a number nothing more. Chicago & New York are probably saturated by now. Hopefully, Echo or Bright or other good firms will open a big branch here in LA, not just in OC. Good luck with your search. Let me know what you find out.
Why don't you guys put an office together yourselves? Unless your're looking to trade with prop. money, I see no reason not share office space with all sharing the cost of the lease, connections, etc., all while trading ones own individual accts. Then, once the right group is found with no hangups, all of you could start putting a business model together and open up shop as a firm. Just a thought. If you guys would open up an office in OC, (Irvine/Newport), I'd love to be part of it. I'm sick of trading by myself and getting up at 3:00 am. Only 6 mos. out of the year though.
Traderking, What about Swiftrade? I thought they had an office in L.A. Also, anyone who works for Assent, I'd love to hear what you think. Bronks, What do you trade? Do you daytrade full time? Are you in contact with other traders? PM me if you don't want your thoughts made public.
Yes, I trade the ES everyday, just a bit player, not a heavy. I still take jobs as a contractor occasionally so sometimes I'll go months trading fulltime everyday, then I'll trade only mornings as I fulfill my contractual obligations, then back to fulltime. No, I'm not in contact with any other traders. PM if you like.
I also thought of this, it would be a great idea. Everyone have their own accounts at IB, Tradestation think or swim or whatever and only the office and connection would be shared. I'm also a retail trader not looking to go prop, just a place to trade with other traders would work. You can even go a step further and approach one of the brokerages mostly used by retail active traders and ask for some kind of sponsorship or sell exclusivity trading at the office.
I do need to go prop soon for leverage. Once you find what works, it is better to duplicate it for more profit. In addition strategies don't work forever & you can learn more strategies at prop & actually have the leverage to execute it. I like your idea of getting together & starting an office. Many don't want to trade by themselves anymore including me. Only trading 6 months. Wow :eek: You've made it. If you are rich, then no need to work a whole year. I hope to get there some day.
No, not at all. I wish. When daylight saving time kicks in, I get an extra hour of sleep. So instead of 3:00 I can wake up at 4:00, or 4:25 am, if I push it. Believe you me, it makes all the difference in the world. I've also always wanted to share time between coasts with 6 mos/6 mos split.