Hi, first-time post for me here on ET, have been reading forums on and off for a while though, and have learned some interesting stuff (while weeding through a lot of crap too ) I'm a Canadian citizen and have been trading retail in Canada (only US equities however) for a couple years now. I don't daytrade but take long or short positions almost always just overnight but sometimes for a couple days max. I realize that (well I think anyways ) at a Prop firm I stand to make a much better income using leverage to trade. I've read on here about a few firms, with the most reputable ones being First NY, RBC/Carlin, and Bright. FNY and RBC seem like a better fit for me as they seem to lean a little more to position trading rather than day-trading which seems to be what Bright is going for, although the former two i think take a percentage of profit besides just commissions (i'm ok with this). Unfortunately "Trader" isn't on any list of professions for US-Visa programs for Canadians..... Does anyone know if any of these firms can hire Canadians to work remotely in Canada? The only Prop firms I'm aware of in Canada are Swift and Title, neither of which I've heard great things about, and as well they appear to be strictly daytrading firms which i'm not too interested in since i've never done that style of trading... Any insight as to trading remote for a US firm in Canada, or any Prop firms in Canada that allow overnight/position trading would be greatly appreciated. Thanks!
I am exploring my options for setting up a 24hr prop firm / arcade combined up here in Calgary Alberta Canada. Traders will be able to trade all firm money and get some portion of the profits, or all their own money and keep most or all the profits and pay a desk fee or shared cost type of thing. Traders could mix their money and firms money and the payout structure would conform to their percentages. Also I am wanting to include all major financial instruments. My background is focussed on Forex so I intially wanted to set it up for JUST forex, but thought, why not open up the opportunity to trade all markets, so traders could develop their own ideas and methodologies and trade the markets and styles that suit them best? If I get it going we will have a strong emphasis on training new traders so they have everything they need to develop their own consistent low risk ideas, and offer training to existing traders with their own capital to help them become MORE profitable and MORE consistent. I walso want to set it up so they can access our platforms from home 24 hours a day. This would be important for forex since the forex markets never sleep. Anyway that's my idea, im working on putting it into action, might take some time but let me know what you think? What would other traders want from such a firm that would make them WANT to trade there?? Prop and Arcade type traders?
You are really fucked up! If I were you, I would report to Swift Trade tomorrow and start trading. From what I read here, Swift Trade does everything for traders, Szeven clearly knows what he is talking and doing. If you are good trader, Swift Trade is the best place to be: low commission, leverage, no cash deposit, no exams. What is needed is your trading skills. I don't know why you want to mess with US prop firms with cash deposit and exams like Series 7,8,9,69,97/105.
Ok...first off...I want to put down 100.00....and i want 100k Buying power...I want to pay .00000001 per share all in including ecn's...I want free trading software, free lunch, and i want hooters girls to come in and rub my back down when im feeling stress...lastly, I want AC/DC being piped into the speakers at all times, maybe with a little bit of Rush or Led Zep for a bit of change...and I want to be paid weekly. let me know.
Been there, done that. So have several of my friends. Swift is limited to day trading only last I checked. It definatly IS a great place to start. Im talking about setting up the same kind of thing they have going but on forex, futures, etc. Not just stocks.
you guys wanting a prop shop none of you are traders real traders don't need prop, cause futures give all the leverage one needs but if you trade specific stock edge, you might need prop, but soon your edge will be taken by the prop sooooooooo where was I Oh yeahh none of you are traders
Who said we didn't make it at Swift? Maybe we just moved on to bigger better things? Way to think things through.