question about props?

Don Bright · Mar 23, 2007

Quote from baggerlord:

Don, I have a question. I want to swing trade some time in the near future, but only have 10k and want to be fairly active, so the PDT rule is a problem. Would you mind one of your remote traders being very low volume? I would trade very very small at first.

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If you can come up with $15K, and take some basic training, we would certainly love to have you on board. Call 702.739.1393 (mid trading day) to chat.

Don

Don Bright · Mar 23, 2007

Quote from poohbear:

Hi, Don, I become much more interested in your firm after reading this post by you. Previously I thought people in your firm only do day trading. I am not a day trader, rather I try to build a long-short portfolio with average holding period about 6 month. I think i need a minimum 1 million of trading capital to diversify effectively. So may I ask you a few questions?

1) Is it ok for your trader to hold a position more than 1 year, as long as it's not losing money?

>>You can hold positions as long as you like, they're your positions.

2) How much cash I must deposit into my account if I want to have 1 million trading capital?

>>All traders can use a $million or more intraday. Standard account is $20-$30K or so. Overnights tend to run up to 30 to 1 for pairs, mergers, and other long/short strategies.

3) Can I buy options ( as hedge against my long, especially short positions)?

>>You can spend up to 25% of your account value on options, sure.

4) What's exactly the relationship with your trader and your firm? On your website it's said not employee, so are your traders limited partners of your firm?

>>You are a "class b member" of our LLC taxed on "triple net" and exempt from Self Employment taxes (FICA).

As with the poster above, feel free to call.

Don

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baggerlord · Mar 23, 2007

Thanks for your response Don. When I have 15k I will be in touch.

Don Bright · Mar 25, 2007

Quote from baggerlord:

Thanks for your response Don. When I have 15k I will be in touch.
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No problem, glad to help.

Don

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question about props?

Don Bright

Don Bright

baggerlord

Don Bright