My search for the perfect prop firm

Discussion in 'Prop Firms' started by 1_________1, Dec 3, 2007.

  1. Basically I'm looking for a prop firm who'll give me at least 50:1, looking to deposit $50,000 and looking for 2.5 to 4 million. When I'm 2.5 to 4 million deep in the market, I am ALWAYS market neutral. I generally hold positions for the entire day 4 / 5 hours. I carry no positions overnight.

    I have other algos that are sometimes naked long / short, but never near 2.5 to 4 million.

    The (2) brokerages that I want to go with are Echo or the Genesis Trading groups.

    - This one Genesis trading group offered me 50:1 if I deposit $50,000 @ .0045 < 1.5 m/m .004 > 1.5 m/m and I receive NO interest on my $50,000. That is WAY too expensive!!!

    - Echo trade offered me a great deal .002 < 2 m/m .003 > 2 m/m @ 40:1 going up to 100:1, if I deposit $50,000 receiving 4.8% on my money.
    Only drawback are I have to get my series 7 (which I don't want to do) & I it'll be A LOT easier move to genesis (programming reasons)

    if anyone reading this is from a geneis trading group and might be interested PM ME
  2. 50:1 are they out of their mind especially when u dont have a series 7
    with $50000 - ???????
    Never heard anything like that before
  3. 50:1 is definetly possible. what's so strange about it?
  4. lazy9


    I would love to tell you the Firm i trade with but I cant cause Magna will shut me down and I really enjoy connecting with other Traders. Depending on the Buying Power you need Im sure they could help you out, if i could figure out how to PM you I will.
  5. razor99


    go to jasper.
  6. he said 50k not 5k....but , it makes no difference...50:1 leverage is a recipe for disaster and I would be afraid of ANY organization that has so little risk control then to offer 50:1 leverage....your going to put up 50k....and say you buy the full 50 leverage....that means you could buy 2.5million in a stock...and then the stock swings down 2-4 points and the firm is unsecured???? dosn;t seem prudent or safe...Buyer beware!!!
  7. perhaps you missed this...

    When I'm 2.5 to 4 million deep in the market, I am ALWAYS market neutral.
  8. amenofx


    1:50 it's forex leverage.
  9. Sometimes securities that are historically negatively correlated suddenly move together - I think that's what caused a bunch of blowups over the summer. What kind of stuff do you do to measure your risk?
  10. Just an fyi..

    Getting your series 7 is really no big deal.

    All you need is about a month, if that.
    #10     Dec 5, 2007