nice thread izzi you should get your series 7, I'll be studying for it in a bit as well. Lets say you get a 1:4 Overnight usually 1:5 Thats $600k overnight, Probably a 1% haircut interest per month Thats $6k interest a month Probably can get much less then 1% interest, Maybe some profit sharing lower that down to a 0.5% $3k interest a month Also considering we won't be in ther market all 30 days. Maybe 15 of the days Thats $1.5k interest a month, beautiful! Sounds good to me if you have something scalable and consistent.
I run a strategy whereby I manage dozens of positions as a whole portfolio. Hedging, income, stat arb, etc. All nyse listed securities. I went home friday carrying over $2 million in positions in an account that I keep under $100k. The interest that I pay on that leverage is well worth it. Echotrade, Assent, Bright, Carlin, etc all will accomodate this type of trading. How much overnight leverage they give you and what they charge will depend on your track record, how much capital you put up, how well they know you, etc. Series 7, and sometimes 55 & 63 is a pre-requisite for all these places though. Something to consider.