So. Cal. Prop Firms

sorry, maybe I shouldn't ask this question in this thread ...

anyone can recommend some good prop firms in SIngapore or Hong Kong? Thanks.

classic_knight

 

Thanks for the heads up! Might have to think about that if I go back to Denver (in San Diego now)

 

Question for the Don Bright:

What % of Bright traders are "DayTraders" only(meaning every day they have zero open positions after close) vs say "Swing Traders"(those who both daytrade and also have positions overnight).

 

We still have a good number, maybe 35% or so, who simply daytrade. Of course we all "daytrade" - but most carry positions of some sort overnight.

Don

 

Bright Trading is "FAIR" in the interest rate charged to its traders.

What would be interesting is the total $ amount of both A) Commission and B) Interest charges to a traders account.

Would it be more profitable to:

1. Just daytrade and only be charged commish.

2. Hold some positions and daytrade around them but trader then would be adding up two expenses(both commish and interest)

 

Goldman has about a 1.75 between long and short interest differential currently.

You can carry up to 12 times your equity (hedged of course within 20% $$) with a 1% per year haircut charge. Naked positions overnight are 1% per month over Two to one of equity (we don't have have too many pure directional swing traders, but we do have a couple of dozen probably).

Don

 

This is entirely up to the trader and what he's doing with the positions. The more profitable traders virtually all have positions overnight.

Our traders know all the costs involved, and as MoMo said, there are variables involved based on the trader's capital (to lessen haircut) and volume (for discounted commission rates), and risk tolerance of course.

And, remember, each trader is running his or her trading business within our framework, so these are simply individual business decisions.

All the best,

Don

 

You (MomO) have been registered on this board a lot long that I have for sure, no reason to use the F-word especially to people you do not know.

I guess my question was somewhat theoretical in nature, BUT the interest rate question about both the rate and $ amount borrowed has been answered by Don before at least 3 or 4 times. I guess Don will answer again just for you.

 

I think I did on the last page. A 1.75% differential between long stock and short stock interest. Appros pay 6.75, receive 5% on short stock sales.

Happy Thanksgiving everyone,


Don

 

MOMO cussing is simply in bad taste and need not be done.