question for prop guys

We start our people with 5,000 sharess per stock Max. (no matter if $10, or $99) and a 10,000 aggregate, to begin with...this obviously goes up quickly, as needed.

Don

 

Donny, you better further explain that is only for opening orders and pairs trades. There are a lot of guys on this thread that are laboring under the false assumption that you will let a new trader trade 5k shares in individual issues on straight directional bets. And I KNOW you don't do that. LOL.

 

hi don, what about experienced traders, what is max size & max # of positions intra-day, for directional trades, not hedged? thanks

 

i was one of them- i never did a pair trade in mmy life-i do make $ fairly consistantly-one of my edges is that i have best buddies on sell side at bulge brackets that give me great idea flow-how do you define that as an edge with Bright-how much leverage would i get on that kind of an approach because its not really defined as a strategy?

i know its quasi gray area-but if i'm gonna join a prop i need the powers that be to know that is how i make a good part of my loot

thanks
jd

 

We set the max limit to 5,001 on any individual stock. Most use 1,000 or so on a few stocks after they're here a while, but we let them trade 5000 shares, intraday, without violating any rules. We do, however, go into great detail about all this during our New Trader Orientation procedure.

Trading GE with 5K is no problem, better than 500 GOOG in my opinion, LOL.

We do our best to trust our people to run their trading like a business, not like a lottery ticket, LOL.

(Seriously, just quoting from our paperwork)

 

hi don, thanks, probably varies depending on how a trader controls risk for the most part, everything is neg right.. a matter of building a relationship, a comfort zone with your traders i would guess.

 

I would certainly review your history, and chat about what you're looking for. For example, we just brought a guy over from another firm who wanted to trade 50,000 - 100,000 shares of "deals" type stocks...after a discussion, and starting with 20K, we let him.

"Experience" is a very broad term. We have had "experienced" traders who were probably better off without their particular experience, LOL

But, sure, we're happy to discuss all this on a case by case basis.

Don

 

anybody have input on benchmarq vs,echo vs assent?

 

Echo requires series 7, use SterlingPro software.

Assent requires series 7, use Anvil or Hammer.

Benchmarq is a subLLC, series 7 not required, use Blackwoodpro.

 

thanks and at the risk of bludgeoning a dead horse, what are the reviews on Benchmarq-going to see them this week-is the "sub" thing anything to be too concerned about?