I am looking to join a PropTrader firm to trade the eminis (as a remote trader). I have 7 yrs of trading experience, bunch of valid licenses. Looking for good execution platform with reasonable commission. Any idea/help is appreciated. Thanks.
This is an interesting question. It was pointed it out to me that the main reason for going prop. is for leverage and shorting (on down-ticks with bullets/conversions). Since those are essentially non issues with the mini's, what other reasons might you have?
birg, I think the intraday margin rates for minis are like 17-1! Why would you need more than that? PEACE and good trading, Commisso
I agree that there is enough leverage offered by the retail firms. I would, however, like to see some prop firms come in to offer better rates then are available at the retail level.
You may find this interesting (directed at all who read this), but you won't find much help from Bright Trading. We do our best to deter traders from trying to trade the e's, since we feel that there is no real edge trading futures off of the trading floor. We have 12 traders trading them, all excellent traders, and only 1 making a profit with the futures. All we require is $100K in equity to trade them, and the costs are not great (again, since we find trading equities so much easier for the traders). Even though the firm would make a lot if traders traded the futures, we feel that they wouldn't be around long enough to matter. IB has a fair price of emini's, when I last checked. Don
I don;t understand this either...Even a firm like IB will offer 1500 daytrading margin and I know of almost no one who maxes out futures leverage, it is just risky...There are so many firms around that will go as low as even 1000 since it is a firm to firm policy as far as daytrading leverage goes... I do know that FfastTrade in Chicago offers prop trading at their location but you have to pay a bigger desk fee and you have to commute to downtown Chicago each day...
Don or any other prop representative, Since you replied about the eminis could you answer the following for me. What platform do your traders who trade eminis trade through? How does this platform compare with retail platforms for trading the eminis? Can they trade stocks and eminis out of the same account?