Recent content by Philly_UK

Hi, I am looking for a trading desk to rent in the UK. Locations: London, Cambridge, Norwich, or Ipswich areas. I will bring my own IT equipment - would expect a leased-line-standard internet connection and standard facilities of a modern office, especially the air-con. Please contact me by...

Has anyone got any experience with Axia Futures? Their commission rates are very low, combined with low fixed costs. Is there any guarantee for a trader who deposits funds with Axia, or can they just take the money and run?

Please take a moment to share your opinion with other forum users by voting in a poll attached and sharing any comments in this thread. Your contribution is greatly appreciated.

I would like to ask your opinion on the following configuration of the desktop PC I am looking to buy as my trading workstation: - Intel Core i7 Skylake 6700 3.4 GHz - 32 GB RAM DDR4 2133 MHz - 480 GB SSD - H110 motherboard - integrated graphics Intel HD Graphics 530 - PSU 400W - nVidia quadro...

I'm just stating the fact that as a new trader you are only $20,000 away from being sacked. Not a big margin for error

And how would you explain that they assign only up to $20,000 per trainee trader, as they now openly state? If you lose that amount, you are out.

9% is simply the minimum expected rate of return - to achieve it I can be flexible about "moneyness" and expiry date of options written, although within specified limits. I can convert the premiums back to GBP but I cannot do the same with EFA holdings after the option is assigned. Otherwise, I...

Good point. I have to rethink that. I do have other investments but probably the proportions are wrong - too much of it would go in the strategy described.

Hmm, I think you wanted to sound ironic but maybe I am wrong... I want to retire after at least those 25 years the investment strategy is designed for - if everything goes well. Do you see any drawbacks that can ruin this plan? Please, share your views.

I am considering a following 25-year-long investment strategy: - as the new savings come in, write cash-secured puts on EFA ETF, with an expiry of 2-3 months - accept that from time to time puts will be exercised and I will end up with EFA shares - continue the above for the first 15 years -...

By "the place" you mean Futex specifically, or prop trading industry in general?

Well, in theory margin requirement for day trading futures might be zero as this margin has to be posted for clearing after the end of session. However, even if it was 25% of what the exchange requires, £1m is still not a lot in terms of a company claiming to back their traders financially.

The company behind Futex is Independent Derivative Traders Ltd. As of 31 May 2014 they had exactly £1,049,610 of current assets on their balance sheet. Considering they had about 70 traders at that time, that's only £15,000 per trader. That's enough margin for around 10 lots of FESX. This means...

The truth about this guy is that he made a killing making about $13m in one day on an overnight trade and that elevated him to a different level. Day trading and spoofing did not make him rich but just this one shot. Now he will be a frequent visitor to courts of law for the next 2-3 years...

Of course, but "sometimes" does not mean frequently enough to have positive expectancy of such a strategy