Well, here is my story.
I trade ES, ZF and EUR futures. My strategy is buy options to limit risk and trade the underlying. Another way to put in is that I am a long gamma trader who uses the underlying to adjust delta to the desired level. I could be described as a trend fader. I also have specific strategies for economic news releases and daily market events like pit and cash openings.
I have been doing this since August 2004 with an IB account. Before that I traded credit spreads successfully and spent some time rebate trading at swifttrade with mixed results.
Right now I trade my own account from a small town in Rural Ontario. My cost of living is very low and I can almost cover all of it by refereeing hockey which is something I quite enjoy. The thing is though if I want to move forward I need to move out of my comfort zone into a new challenge. My long term plan is to create a fund that:
-Pays out monthly dividends from trading
-Is a capital effiecent way to replicate an equity portfolio
-Can be structured in such a way that it can go public as a Canadian income trust or some other capital strucuture appopraite for a mature business.
To get to this stage I need to develop a track record trading bigger sums of money. I could raise money from family and friends but I only have so many "bullets" so to speak and I want to use them at the right time.
My ideal situation right now would be a pro firm that would give my an account with $10,000 margin in it that I could trade remotely. This way I wouldn't have to move to a higher cost area. Ideally the firm would understand that my risk management is the long option, that I would need to average down and the I would need to hold "overnight" positions as trades would be made at all hours of the day as markets move. As my account becomes profitable I would expect more margin and then look to move to the city where the office is located. It would be a good deal for the pro firm as I can say what the risk will be up front and will start generating commissions right away. The risk reward would be much better than pulling someone off the street and training them.
The less than ideal situation would be to raise $50,000 to $100,000 and join up with a pro firm to get additional margin and lower commissions. Again initially remote and then move to an office. I don't really want to do this until I am starting a fund and can show how it would fit into an investment strategy.
Okay a few questions. If I were to write a a pro firm with my ideal situation would they just laugh at me? Is there anything that I should be careful not to say as it would be a deal breaker?If I don't put up and money do I have any chance of getting my risk management scheme accepted? What firms do you think would be the best to approach if I didn't want to put up capital? Or if I were to put up some money?
I trade ES, ZF and EUR futures. My strategy is buy options to limit risk and trade the underlying. Another way to put in is that I am a long gamma trader who uses the underlying to adjust delta to the desired level. I could be described as a trend fader. I also have specific strategies for economic news releases and daily market events like pit and cash openings.
I have been doing this since August 2004 with an IB account. Before that I traded credit spreads successfully and spent some time rebate trading at swifttrade with mixed results.
Right now I trade my own account from a small town in Rural Ontario. My cost of living is very low and I can almost cover all of it by refereeing hockey which is something I quite enjoy. The thing is though if I want to move forward I need to move out of my comfort zone into a new challenge. My long term plan is to create a fund that:
-Pays out monthly dividends from trading
-Is a capital effiecent way to replicate an equity portfolio
-Can be structured in such a way that it can go public as a Canadian income trust or some other capital strucuture appopraite for a mature business.
To get to this stage I need to develop a track record trading bigger sums of money. I could raise money from family and friends but I only have so many "bullets" so to speak and I want to use them at the right time.
My ideal situation right now would be a pro firm that would give my an account with $10,000 margin in it that I could trade remotely. This way I wouldn't have to move to a higher cost area. Ideally the firm would understand that my risk management is the long option, that I would need to average down and the I would need to hold "overnight" positions as trades would be made at all hours of the day as markets move. As my account becomes profitable I would expect more margin and then look to move to the city where the office is located. It would be a good deal for the pro firm as I can say what the risk will be up front and will start generating commissions right away. The risk reward would be much better than pulling someone off the street and training them.
The less than ideal situation would be to raise $50,000 to $100,000 and join up with a pro firm to get additional margin and lower commissions. Again initially remote and then move to an office. I don't really want to do this until I am starting a fund and can show how it would fit into an investment strategy.
Okay a few questions. If I were to write a a pro firm with my ideal situation would they just laugh at me? Is there anything that I should be careful not to say as it would be a deal breaker?If I don't put up and money do I have any chance of getting my risk management scheme accepted? What firms do you think would be the best to approach if I didn't want to put up capital? Or if I were to put up some money?
