Need Prop Firm for Overnights - Mostly

Discussion in 'Prop Firms' started by EliteTraderNYC, Jan 18, 2012.

  1. Hey guys I need a prop firm for overnights, mostly. I trade from home only so I cannot go to a desk.

    What is the minimum capital contribution?

    What is the leverage allowed?

    I have a Series 7 but its expired. Am NYC based but I don't care where the firm is located.
  2. Send me a PM. Many of our traders use, not abuse, $500k or more with a $20k sub account. Overnights are fine, actually needed by many.

    Need to take exam again probably.

    I prefer PM, if you don't mind.


  3. there's a few. all have 10k+ minimums for the most part.
  4. Maverick74


    If any firm mentions the words boot camp....RUN!!!!!!:)
  5. Hello Don, is margin interest charged on overnight trades? If yes, please provide the margin interest rate. Thanks.
  6. There is about 1.75 spread from GS. These days that means zero on short stock interest, and a rate of 1.75.

    6 times equity with no haircut fees. 10 x equity averages out to less than 1% per year (hedged).

    As I said, for more details, PM me. Thanks.

  7. [​IMG]
    Fortunately, Don has lost a lot of weight recently and is in best of form.

  8. If only that were true...

    Don :)
  9. VinMan


    Hey Don what is the leverage for an intraday only trader no overnights?

    And can a trader trade his strategy or must I trade one of Bright's such as pairs?

    That said, if I'm risking lets say 1% of my EQUITY on any given trade for example, I guess I only need so much leverage right?
  10. Hmm? Well, if you have $25,000 up and you're only risking $250, then I don't think you need capital. I understand the difference between capital usage and overall risk pretty well.

    Many use 10, 20 time equity of capital, but hopefully not risking that amount.

    Maybe give me an example, with actual numbers...easier for me to respond to.

    edit: To answer your other question, many traders involve themselves in strategies that I don't know anything about. As long as they're within risk paramters.


    #10     Jan 22, 2012