I have been doing a great deal of research and it seems trading firms are a dime a dozen! and everywhere you go its always the same song and dance. I think it would be beneficial if there was an open house or some type of venue where interested traders could attend without feeling like they are being coerced to join. I am not looking for training or mentor-ship, just have the ability to visit a shop and weigh the benefits. It's all about finding the right fit.
Have you considered not joining a Prop/JBO firm and opening your own customer account and trading for yourself? The big hurdle is capital. To trade with leverage in a customer account, you need the funds or open a portfolio margin account.
Not sure where your based out of but I recommend LES Trading in NY. I trade remotely with them and they been transparent on everything and found them to have the best fee structure out there. They are a good group of traders that make you feel like your part of a team and not left lingering out there on your own.
Can a private trader join a Prop firm with his/ her own capital I am interested in exploring as specific Futures arbitrage S&P big against Small I guess factors for such arb is - Min Commissions ( lowest I have found is 0.45 per side ( CME futures) + exchange fees ) - Very low Day margin...? or High Leverage - CO location,, believe it is around USD 1500 a month - Software , Example TT Pro Autospreader = $1500 If anybody can help with quality info I will greatly appreciate it Thanks MJ
Teamlea: Which state? Are you looking to trade inhouse or remote? you have mentioned an open house so i assume you looking to trade inhouse? is this right?
Which state? Are you looking to trade inhouse or remote? you have mentioned an open house so i assume you looking to trade inhouse? is this right? I am in NJ, and either remote or inhouse are an option. The open house would present a way for me to gauge a firm. I would like to see their operations and determine if they are credible. Customer account is not an option as leverage is compromised and requires a higher opening balance. The most important things for me are: 1. Reliability (customer service, technical, system) 2. Rates 3. Execution System
If you are near the NYC area, I just got an email that Hold Brothers is having a trader open house on May 25th. As far as I know, they have been around for a while.
Customer accounts are an option if you can open a customer portfolio margin account. You do need more money, but haircut is 6.67 to 1, with a segregated account that is all yours with no broker dealer issues. Also, for option traders, floor execution fees are much lower or zero.
SO far on Simulator with TT and CQg the strategy of Arbing 1 x Big S&P 500 futures with 5 x E mini s the strategy looks profitable However million dollar Q is - Real life will it happen? - Legging risk Has anybody tried this ?