West Coast vs East Coast trading

Discussion in 'Prop Firms' started by QuoteBoy, Oct 2, 2001.

  1. I just love this board.
    Somewhere here I read that somebody thinks prop trading or firms or opportunities are better on the west coast.

    I'm a New Yorker, but after the madness around here, fun and sun sound good. So if I go into prop trading, why or why not go to Cali?
    I didn't find the post on it, but what possible things would be different, besides time zone?
  2. WarEagle

    WarEagle Moderator


    There are also several firms in Florida. With that you get the best of both worlds...beaches and sleeping in. :)

  3. jskeldon


    Taxes in NY and CA are outrageous. No state income taxes in FL or TX. I live in Dallas, TX, does anyone know of any prop firms here that are hiring using the firms funds. Thanks for any info.
  4. roger2



    interesting about no income tax in TX and FL, do you know of any other states without income tax? what about TN?

    i live in IN which has 3 1/2% tax but without the deductions and exemptions found in Fed income tax
  5. Washington has no state taxes and if you live in Vancouver, WA , you get the benefits of living closer to Portland, OR as well which has no sales tax.
  6. Here is what i found

    No State Tax states.

    New Hamsphire (5% on dividend and interest income)
    South Dakota
  7. Magna

    Magna Administrator


    what possible things would be different, besides time zone?

    I trade from California and I strongly recommend that you don't underestimate the 3 hr time difference. With the market's opening at 6:30am out here, you have to get up around 5:00-5:30am if you trade from your home, and 4:00-5:00am if you trade out of a prop office. Unless you adore getting up at those ridiculous hours it doesn't have a whole lot to say for it. Florida might be a good alternative to maintain the 9:30am market open, the warm weather, and no state taxes.
  8. Tennessee also has no income tax (6% on dividend and interest income)
  9. I had heard that delaware and nevada are in that list....
  10. One thing to definitely consider: are you a "morning person"? Market opens 6am out there. Allow an hour or two to get ready. If you have a hard time getting out of bed you may want to reconsider.
    #10     Oct 3, 2001