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Hello Everyone,
To all of those that have responded to my about my e-mail, here is a list
of some of the firms that can do this great thing for you. But remember, you
have to be a licensed Series7 registered rep. through the NASD to trade with
what we are talking about. Heck, look at it this way, if you buckle down and
study for 6 months, you'll learn more about the overall picture of
investments and in the end, you get a big giant tax break from Uncle Sam.
Again, I know that this is not for everyone, but those with ability and
small account sizes($30k-$100k), they can assist you to your $goals$ faster
than you ever imagined. This is a powerful tool, and can also have just as
much negative impact as positive, as it all depends on you!
Here is a list of these type of offices:
ActiveTrade http://www.activetrade.net/
All - Tech Direct http://www.attain.com/about/branches.cfm
Andover Trading http://www.andovertrading.com/
Blackwood Trading http://www.blackwoodtrading.com/
Broadway Trading http://www.broadwaytrading.com/
Bright Trading http://www.stocktrading.com/
BrookStone Trading http://www.brookstonetrading.com/
Carlin Equities Corp. http://www.carlingroup.com/
EchoTradeOnline http://www.echotradeonline.com/
EdgeTrade http://www.edgetrade.com/index?ref=
Electronic Trading Group http://www.etgtrade.com/where.html
HeartLand Securities http://www.hrld.com/
Hold Brothers http://www.holdbrothers.com/locations_2-4.html
ICAP Direct http://www.icapdirect.com/index2.htm
Lieber & Weissman http://www.stocktrade.net/
Louisville DayTrade Exchange http://www.louisvilledaytrade.com/
MarketWise
http://www.marketwise.com/index2.cfm?CFID=2088838&CFTOKEN=39481606
Momentum Securities http://www.trademomentum.com/
Navillus Securities http://www.navillus.com/
Off-Site Trader http://www.offsitetrader.com/CareerOpportunities.htm
Onsite Trading http://www.onsitetrading.com/section01a.htm
Onsite Trading for Series 7 licensed individuals
http://www.onsitetrading.com/llc/defaul2.htm
Point Direx Management http://www.pdgo.com/
ProTrader http://www.protrader.com/
Raptor Trading http://www.raptortrading.com/
Summit Trading http://www.summittrading.com/
SunState Trading http://www.sunstateequitytrading.com/
Trinix Securities http://www.trinixsecurities.com/
Watcher Tech Clients http://www.watchertech.com/traders/traders-detail.html
WorldCo http://www.wldc.com/html/index.htm
Bryan K. Mulholland
Honolulu, Hawaii
-----Original Message-----
From: Bryan K. Mulholland [mailto:speculator@xxxxxxxxxxxxx]
Sent: Sunday, July 22, 2001 1:52 AM
To: Omega-List (E-mail)
Cc: Sigstroker@xxxxxxx
Subject: RE: looking for retail day traders
Hello Everyone,
Maybe shedding some light on the subject, I happen to be one of those
"stupid kind" of traders. It is a great advantage to trade the firms
capital. Lets say that you have $xxk in your account, and that you have most
of that money tied up in short term positions in a few stocks. It gives you
the advantage to trade beyond your means during good times, or bad times if
you have no control. Up to 10 times of your account size in capitol. It is a
great tool for your trading, but it can be very disastrous if used wrong.
They always have a risk manager that is watching everyone's position, so
you can be put into reality if you do abuse the rules. But most people have
their head on straight, and the possibilities are endless to success with a
professional firm. Not every Daytrader has 2 million to trade what ever he
likes no matter what the position. When I started out I had $30k, and it
gave me the advantage to trade 1000 shares of JNPR, 500 shares of YHOO and
1000 shares of BEAS all at the same time. And doing that with only that
amount. So if you have your head on straight, I don't see why you would not
pick up an opportunity like that.
Second, lets talk commissions. On average, the direct access traders have a
commission of a complete trade at $13.00-$17.00. With trading professional,
the commissions drop to fractions of the cent per share. Traders starting
off have the advantage of getting $.75 cents for trading 100 shares of CSCO.
So if you account size is small, a round turn on a trade only cost $1.50.
With volume, the commissions per share dramatically reduce to almost
nothing. I cut my cost of trade commissions by $68K last year by going
professional. Now I don't think that is too stupid, do you?
Thirdly, by trading in a large firm, you have to be a licensed Series7
broker. That entitles you to trade the capitol, and receive a term called
"Mark to Market". From the tax standpoint, all business expenses,
commissions, and those great trips to New York to see the "Phantom of the
Opera" are all deductions to the massive amounts of money you can make.
There are no "Wash Sale Rules" when you are a professional trader. So the
IRS can kiss my butt!
I am not saying that it is for everyone. It gave me the ability to climb to
success faster than I ever imagined. I have met great people, made a ton of
money and feel proud that I do belong to a firm. I have made several
"business trips" to New York, which my wife loves me for. The road has been
good. Now, I really can not speak for the firms that trade the futures
markets with extra capitol, but I am sure that it is the same philosophy. I
take no offense to your comment on the "stupid" part, as I think for anyone,
it is the best thing to do. But you have your opinion as I have mine. I hope
that I helped out a little.
Bryan K. Mulholland
Honolulu, Hawaii
-----Original Message-----
From: [mailto:Sigstroker@xxxxxxx]
Sent: Saturday, July 21, 2001 10:41 PM
To: omega-list@xxxxxxxxxx
Subject: Re: looking for retail day traders
So let me get this straight. You want a sucessful daytrader, making
consistent profits, to stop doing that and instead make profits for a firm
and keep only a fraction of what they make? I would hope you'd get zero
responses. Someone smart enough to be a successful trader is not stupid
enough to screw themselves over in a deal like that.
In a message dated 7/18/01 3:20:07 PM Pacific Daylight Time,
writes:
> I am looking for retail day traders also, but I don't think they exist...
I
> posted a message about a month ago looking for traders who were interested
in
> trading for a large firm (1000+ traders) trading firm capital with a good
> payout and generous amounts of trading capital. Guess how many people
> answered that were SUCCESSFUL day traders who supported themselves trading
> and had track records to show (even records from profitable personal
accounts?
> ) ZERO!!! I got about 30 responses but not a single experienced trader.
Maybe
> the experienced guys had no interest in trading a firm's capital, but I
found
> it pretty suprising.
>
> So, just out of curiosity, who on this list trades for a living?
>
>
> Just curious,
>
> Seth
>
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