Various equity prop firms like Bright and others allow remote trading....under their umbrella. Is there anything like this in the Futures area - where I could be a prop trader for some firm in Chicago, but based in CA? Any ideas there? It is my understanding that there are no futures prop firms in southern California.
In my opinion, being remote for prop futures would kind of wipe out most of the benefits of being with a prop futures firm. If you were going to be remote, I think you'd be better off trading on your own and not splitting profits, along with getting a great tax break.
this subject has been discussed before, but i'm not sure i follow. I understand say the advantage to going prop for equities for a few reasons...say one would be being able to route orders effectively and the leverage. I'm thinking of trading futures, but is there any advantage in commish/cost, speed, ect, by going to a prop firm as opposed to just doing it from home? Can't you just open a futures account with a prop/arcade like VTtrader or GHCO? Is there a difference between opening a customer account at place like VTtrader/GHCO vs. IB or Optionsexpress for trading futures? How about actually being a firm funded, no cap down, prop trader at a place like VTtrader/ghco vs. opening a customer account at Vtrader/ghco/IB/optionsexpress?
Yes, there are alot of differences, including commish, speed, cost, reliability, funding, etc. Too many to list. Really depends on the shop and trading style.
What about for a scalper at a place like VTrader? Would trading remote with them have a better/satisfactory commish structure, speed, cost as opposed to trading with IB?
Thanks for the response - The reason for the remote trading question is more related to using the capital of a prop firm.... For instance, Bright Trading offer a substantial amount of leverage for trading stocks and provide training etc. There is a definite mental difference when trading someone else's money, in that you don't have the same trigger hesitation .... Friends of mine who work for stock trading firms all believe that they would not do as well trading their own accounts, as they would be too cautious. I was interested in using the leverage and backup of a futures trading firm in that it lets me use more leverage without the level of hesitation that I experience. I am already profitable, just stepping up my leverage very slowly as I see a palpable effect when I can "lose" too much. If anyone knows of a suitable prop firm in CA let me know!
Not sure about Vtrader, so I can't comment. But trading with IB and trading with a good prop futures firm is not even comparable. Scalping is something that is best done prop.
what kind of deal should you be looking for if you plan on scalping with a prop like Vtrade, GHCO, ect? (cost, commish, ect.)