And one point about the discussion on real estate was worth deleting the post? Is it such a terrible thing if another a threat leads into another short investor-related discussion? This is rediculous!
Sorry you feel that way, but this is what is ridiculous to me. The thread is Where are most Prop Traders. On pg. 4 a discussion on real estate starts. I let it go a little, leave those posts intact, and then remind everyone that this thread isn't about real estate and to please stay on topic. One or two posts later you make a post solely about real estate. So I remove it, with an explanation and a reminder to stay on topic, and you get pissed. As I said, this is what is ridiculous to me. Anyway, if you'd like to discuss real estate please start a separate thread on that topic in Chit Chat. Thanks.
That's it....We want Inandlong as this threads moderator...he's nicer and let's me behave badly BTW...in keeping with this thread,,,,,,do you REALLY believe the original poster really cared about where everyone trades?
there's another thread that has a poll/vote at the top, and mentions the most popular prop shop names. you might want to see that thread, its far better than this one....
Heck, I'm falling behind.....I guess I better have a couple of dozen traders vote for Bright..... Actually, the numbers (in proportion, of course), looked pretty good until the last 48 hours......somebody else got their "shills" in here first. Speaking of which, why isn't Shill Trading listed? (Just having fun, feel free to delete at any time). Don
Here's a silly question... Do all prop firms require a series 7 to trade and get pro leverage. I remember reading somewhere that you didn't need a 7 to trade with professional leverage . They charged you a fee of a couple of hundred for every 100,000 used and the money comes from private investors thus bypassing some sec requirment or somthing like that. The reason I ask is I am thinking about joining a firm for leverage but wouldn't really want to go get the series 7 etc.. Thanks NK
Only one I've heard of that doesn't is that GreenTea(Tree?) outfit. Better check it out to make sure you're on the safe side of the law, though. Series 7 looks ee-zee. (I read my brother's study manuals when he was taking it; not really very much to do with trading, but looks a piece of cake all the same. Actually, I found it kinda interesting.) ANYWAY, back to the real estate market...
FYI - Redwood Trading LLC can provide the same service to traders not interested in getting a S7 yet would like intra-day leverage. Their is a fee for this service. Anyone can PM me for details or call (877) 643-8723 toll free. rttrader -
As far as I understand it, selling leverage to a customer is against the rules established by the federal reserve commonly refered to as Reg T. Loaning money to a customer in order to provide leverage is called a purpose loan and is also less than ok with the various federal agencies. In fact, a "prop trader" who gets a 100% payout is also probably violating reg T and the firms that provide that structure will eventually have to face up to that regardless of the LLC structure they claim as their loophole. How does Redwood do it?