Does anyone trade with Itrading in San Diego? If so, will you share some essentials about the firm and of your experience thus far? Thanks.
I just interviewed with them yesterday. Seems like a reasonable deal from what I understand. Traders only trade the company funds, but there is a desk fee that I don't fully understand yet. I will find out more in the next few days. Anyone else know about iTrading in Chicago or San Diego?
Too bad these guys only do prop. I am looking for an arcade biz model in San Diego (yes, I prefer to trade my own funds, but in an office). Have contacted Tuco, but they are equites only. V Trader has an "affiliate" office there, but I think its just a few guys, and mostly equities. I may try to start up my own office if I can't find anything out there (I am not in SD yet). It would just be a non profit deal where traders shared office and hardware expense though. Only reason for doing it is I hate trading alone everyday. Jay
Maybe an office atmosphere would make trading less lonely for some people. Check out iTrading...seems pretty cool. I'm passing on the iTrading deal because I don't see the benefit when I'm making money trading on my own. I guess I could make more money.
Exactly why I don't trade "prop". It would be different if a firm gave me several million to play with, but once you are already consistent it makes more sense to just keep scaling up your own acct. Plus you don't work for anyone else. This gives you more freedom to trade anyway you like. Just my opinion though. Many people prefer not taking any personal risk, although its really a non issue for an experienced day trader. Position trading is another thing entirely (since you can get pummeled overnight, etc). Jay
Well, that's the whole point of futures prop. I'm sure you'd get to trade more size than you could in your personal account with almost all futures firms. That along with extremely reduced RT commissions.
San Diego trader here also. We should all have a meet and greet one day. Get together, drink some beers, and share strategies.
One thing I've never understood about true prop trading. Why do you pay ANYTHING in commish? You work for them, and take a cut of the profits. The firm shouldn't make a penny in commish. They should deduct their cost for exchange fees and NFA of course, but that's it.