Hello Traders, I am an experienced trader seeking to change prop firms. Does anyone know if there exists a firm that can provide approximately $250K of margin on a $25K deposit? I trade ES and need to hold 40 contracts overnight on a daily basis. My $25K will assume first loss. I am looking for a favorable split and $0 office fees as I will trade from home. Thanks in advance for any help.
So... you want somebody to back you... to leverage $25K equity on a $5,000,000 overnight position... where a 1/2% price hiccup wipes you out? "Experienced trader" or not, what are you... nuts?
That's even more stupid than LTCM's, "PhD's behind it, 100-1 leveraged play". We all know how those "big brains" fared.
No offense guys, but I'm looking for answers from traders. For the experienced guys let me just add, I've talked to a few of the firms, and most of them have prohibitive desk fees. If anyone has any names I haven't considered yet, would be grateful if you could share.
Surely you realize the paradoxical nature of your quest. That is, "nobody is going to back you on 200:1 leverage overnight" because anyone stupid enough to do that is not longer in business.
People used to tell me when I was in my 30's the way I trade would give them a heart attack, now that I am in my 50's I say to you ' the way you trade would give me a heart attack'.
If you are willing to deposit $25,000 firms (some that are sponsors on here so they can chime in) will offer you $500 margins at night. So with $25,000 you can hold 50 contracts. With each ES around $125,000 in value you would be trading $6.25m in notional value. Simple math an $500 margins with 125,000 value is 250x leverage. Wow. Crazy they offer this leverage at night but call them...