Question regarding Trading LLCs.

Discussion in 'Professional Trading' started by basouk790, Jan 10, 2008.

  1. basouk790


    Hello to all. I'm relatively new in the industry and I need more information about some of these new LLcs that come up like mushrooms. Over the last month I interviewed with the following LLCs: Velez Management Capital, Blaze Partners/LYNX capital, Assent LLC, Star Alliance capital, PTG Cpital LLC.

    Now they all offer all kind of different leverage, commisions, one one one trading, platforms etc. Some sponsor for series 7 some not (increase of leverage as certified trader). One of the partners at PTG capital that I talked to made the most impression to me, but he offered the lowest leverage of all 4-1, didnt sponsor for series 7 (not a prop firm but retail accounts only) and offered the most extensive program of all 6 months to a year (professionalism). The first 3 months practising only with 100 shares a trade.

    I'm kinda overwhelmed with what everyone is offering or not. I'm 28, I can go without salary for at least 6 months , maybe a year. I'm familiar with quantitative and qualitative analysis and willing to spent all my time learning , practising with what I consider to be my passion, stocks.

    Any suggestions, ideas and info will be really helpfull for me to eventualy decide which one of them should I choose. THANK YOU!!

  2. basouk790


    Why nobody havent posted anything yet?
    Any reply to that?
  3. swifty2


    hi basouk, my suggestion is that you could begin with a swift trade office. in st you don´t need to put any deposit and you don´t need to pay any commission, of course the payout would be worse. but you can learn and have free access to stockmarkets.
    in general education is not good in st, thus you must learn by your means.
    when you feel clearly profitable as trader, then you could change with other company or open your own swift trade office.
  4. basouk790


    Thank you for your helpful input towards my question.

    I will although pursue a beginning in one of the prop firms since I feel more comfortable trading in an environment that pays you 90% to 100% and you have to subtract trading commissions, fees (if there are any),taxes, etc. I have been start studying for the series 7 and getting familiar with technical analysis [charts (hammers, engulfing patterns, doges, etc), moving averages, CCI, etc]. I just finished a beginner¡¦s guide to day trading online(Toni Turner) and just ordered Mastering the Trade (McGraw-Hill Trader's Edge) and A Short Course in Technical Trading (Wiley Trading) ( any inputs regarding these two books?) also any recommendations will be taken seriously!!

    Now sth last but NOT least. I read many blogs regarding the Arima Capital¡¦s platform (Assent LLC) and Echo¡¦s platform that used to have many problems (most of these comments are old 2005-2006). Are there any updates regarding these two proprietary firms? I know that Merrill Lynch acts as the clearing corporation for Echo trading (how of importance is that?). Any info will be taken seriously under consideration so please be honest and detailed!

    Thank You! ļ
  5. if you know how to trade, don't go to any of them. Trade for yourself.
  6. EXACTLY. I love this response.
    With Prop, YOU ARE CONTROLLED....and always UNDER PRESSURE. If you are not experienced, the chances of "blowing up" are incredibly high. BEEN THERE, DONE THAT.
    Instead: obtain a stake of $10k, trade 200 shares or 2 emini contracts, and learn the game....ON YOUR OWN.