Best Thread US day traders thread.

[eatontrade]

err... i dont know if people missed my post? but answers/suggestions/comments, anyone????
thanks

Broadband connections are pretty cheap over here. I pay about £17 a month for 2Mb through Tiscali and have had no problems. I use this for connection to Tradestation and trade the DOW via the eMini future. I would have thought though that once you have your Broadband connection in place you can connect to whatever you currently use in the States.

 

[DavidS]

Hi Alien, and welcome to the thread.

Maybe, like me, everyone read your post and thought "hmmm.... no....hmmm.... don't know!"

Your questions are somewhat outside my level of expertise but here are a few comments.

Like most private UK traders I use an adsl braodband connection. My speed varies between 256k and 2MB. I use the direct access elite platform and it works fine for me even at the lower speeds. Others use the IB platform. Don't know about assent or schonfeld.

I would say most people on here tend to trade more liquid stocks, so would not be able to comment about your fills and speed requirements. I'm not technical, but I would say modern broadband is pretty good and I can't see that a dedicated private line would practically offer much more.

Regarding the tax situation, I'm not an expert but I was under the impression that US citizens were taxed on all word-wide income by the IRS regardless of their domicile. I presume you would be able to get an exemption from UK tax on your trading profits if this is the case. I can't imagine that the type of account would affect your liability to tax. If you are looking at big profits I would suggest speaking with an experienced international tax accountant.

Hope this helps!

 

[samtron]

err... i dont know if people missed my post? but answers/suggestions/comments, anyone????
thanks

Hi alientrade, I am glad you found the thread
I think (although I can't be sure) the stocks you trade may be a little "alien" to most of us on this thread and hence this may be the reason for the lack of response.

Speed-wise I think ADSL works fine for scalping, although as you know reliability can not be guaranteed. Also I think perhaps you should bear in mind the speed aspect is not guaranteed by the telecommunications companies (something to do with "the contentions ratio" I think.)

The best person to speak to/contact would be NAZ, he started this thread a long time ago and is very experienced in all matters associated with the NASDAQ. Unfortunately he doesn't visit the forum that often these days, so the best thing to do would be to contact him by email (email addresses can be found in profiles on t2w.) I am sure he would be more than willing to give you advice on the best route to take.

Good Luck.

 

[samtron]

This is the way we're going: :arrowu: :arrowu: :arrowu: :arrowu: :arrowu:

BEAR STEARNS bought a couple thousand big S&P contracts. Which is HUUUGE!! A lot of buyers in the market. And open interest is at really high levels, I hear! So we're gonna see a big move one way or the other. But I'm BULLISH.

-Dave.

hi dvdh
Well they certainly knew what they were doing!
I have been on the rimm of my seat all day!!
hope the +ve sentiment carries on a little longer

 

[PitBull]

Yeah RIMM was great Samtron. Me and dvdh had fun!
Even shorted it at 87.50 for 40 cents.

Shame it was on the hard to borrow list on IB as Nesoy03 couldn't short it.

 

[Jerry Olson]

Yeah RIMM was great Samtron. Me and dvdh had fun!
Even shorted it at 87.50 for 40 cents.

Shame it was on the hard to borrow list on IB as Nesoy03 couldn't short it.

Lee

ooh la la it was sweet...RIMMSKI.........................................

 

[hampy]

Alientrade, you may find the following link useful for researching UK ISP's :
www.adslguide.org.uk Good Luck.

hampy

 

[samtron]

Yeah RIMM was great Samtron. Me and dvdh had fun!
Even shorted it at 87.50 for 40 cents.

Shame it was on the hard to borrow list on IB as Nesoy03 couldn't short it.

that makes two us, i couldn't work out why my short order hadn't been executed lol

 

[nesyo03]

OMG, I was so mad about not being able to short rimm today. Every other day I've been able to, and now today it sets up perfectly for a short and I couldn't get any. Well, at least I helped pitbull and dvdh know they should get short, REALLY short. Good job guys, wish I had some with you two.

 

[Trader333]

OMG, I was so mad about not being able to short rimm today. Every other day I've been able to, and now today it sets up perfectly for a short and I couldn't get any. Well, at least I helped pitbull and dvdh know they should get short, REALLY short. Good job guys, wish I had some with you two.

Which broker do you use ?


Paul

 

[PitBull]

Paul, they use IB.

 

[Gadgetman]

Alientrade, you may find the following link useful for researching UK ISP's :
www.adslguide.org.uk Good Luck.

hampy

Yes and make sure you include Zen Internet when you use the comparison tool. Been using them for quite a while now. Certainly not the cheapest but look at their performance and customer satisfaction stats.........

FWIW, I use a 2Mb link, using TradeStation as both platform and broker. No speed issues, you certainly will NOT need a private line, unless you are in some very isolated spot and then the cost would probably be prohibitive.

 

[TheBramble]

Yes and make sure you include Zen Internet when you use the comparison tool. Been using them for quite a while now. Certainly not the cheapest but look at their performance and customer satisfaction stats.........

FWIW, I use a 2Mb link, using TradeStation as both platform and broker. No speed issues, you certainly will NOT need a private line, unless you are in some very isolated spot and then the cost would probably be prohibitive.

Seconded. Been with Zen for 9 months now and no outages. Perfect customer and technical support. Not the cheapest as Dave says, but for a few extra squid...it's worth the comfort.

I also have a 2MB link and I run three separate datafeeds and three brokers (one for FX two for LII and stocks) using TradeStation (fed from DTN) and VisualCharts for charts, and DAE, IB, Oanda for trades.

I rarely max more than a quarter of a meg on bandwidth.

 

[Trader333]

Paul, they use IB.

Thanks PitBull, When I was with IB I found that Shorting could become an issue and I put this partly down to the fact that because it is such a popular broker that everyone who wants to Short does so. This can quickly use up the allowed borrowing that IB has when other users such as Naz were easily able to still Short the same stock.


Paul

 

[hampy]

Good to know that Zen is reliable, also found Pipex really good, but recently switched to Plusnet whilst renting a property short term, and have had no end of interruptions. Will NOT be using them when i move into the new place.
hampy

 

[ianh]

Good to know that Zen is reliable, also found Pipex really good, but recently switched to Plusnet whilst renting a property short term, and have had no end of interruptions. Will NOT be using them when i move into the new place.
hampy

Guys, I have used Zen since almost the day they started back in the 80's. Back in the days of steam driven PC's where you had to type dos commands to do anything, through windows 3.1 to where we are today, so I have got to know their Zen's policies pretty well. They make no compromise on the quality of equipment they use and as such always seem to come out tops in the reviews. I use their 2MB ADSL Business connection which uses a 20-1 contention ratio rather than the 50-1 that all the privates use, and it is bombproof. No lag, very rarely fails (I dare not say never), and is quite simply in my view the "Best of the Bunch". Cost is about £73.00 a month plus the VAT which i consider a small price to pay for a service that you can just plug in and forget about. For the guys that want better than that, they now do SDSL which gives you up to 2MB/sec in both directions but at a cost of £300 a month plus about £1,000 for the new router, this is only for the really serious big money trader.
Hope this has been helpful!

And before anyone asks, NO i do not work for Zen, nor am i related in any way to anyone who works there, nor do i receive anything from them for promoting their services. I just believe they are dam good, and believe in sharing my knowledge freely with others.

 

[Gadgetman]

. I use their 2MB ADSL Business connection which uses a 20-1 contention ratio rather than the 50-1 that all the privates use, and it is bombproof.

I only use their Home 2 Mb package, cheaper at about £34/month but certainly more than sufficient in terms of contention and very few hiccoughs.

 

[samtron]

Hi gang!

Well will the wheels come off rimm today or will it burn rubber again? the post/premarket says it might zoom zoom again

catch you latter, good luck.

 

[Gadgetman]

Hi gang!

Well will the wheels come off rimm today or will it burn rubber again? the post/premarket says it might zoom zoom again

catch you latter, good luck.

I have a feeling in my water about QCOM today............

 

[Jerry Olson]

Hi gang!

Well will the wheels come off rimm today or will it burn rubber again? the post/premarket says it might zoom zoom again

catch you latter, good luck.

HI Samtron

wee caught it boths ways long early for 3 scalps and short for 3...

i love the rimmster.

QCOM was nice too...

have a good day