So yesterday we hosted our “Zero to Hero Self-Funding” on my Meetup webinar. I have uploaded the links discussed as well as a PDF of the presentation. A video is available for all my members. In it you will find the rationale on choosing which broker I have decided to go with. With overwhelming results, it came down to Interactive Brokers with the availability of trading all asset classes and having my source code ready to deploy thanks to my courses.
In the presentation, you will find a target to meet self-funding of the required minimum deposit for Interactive Brokers. In it you will find a slot of 20 which I will make available for anyone who is interested in taking advantage of my ELITE membership. I will slash it for this time period until I hope to meet my target level. If not I will resort to the Oanda option as a fallback plan which will be a slower growth to my end trading goals.
Rithmic data is affordable for futures traders with no latency on the CME. What about brokerage costs and minimum funding requirements?
Here are some more details on Rithmic: from my member:
To use the Rithmic data, you need to have a funded account with the associated brokers. The cost of
Rithmic R|Trader Pro is $25 per month, but need to consider the commission extra for using the
Rithmic data per trade. I don’t know how long you can use the R|Trader pro without trading, I guess
that would depends on individual broker.
Rithmic is CME specific I think, so no spot forex only futures.
I will report back once I find out. I am trying to find out minimum funding requirements.
So this is where the financial and web startups go for venture capital and angel funding? http://www.finovate.com/fall2013/faq.html
They have different shows in New York, San Francisco, SIngapore, and even London. Lots of cool videos too including Quantopian. Oh hold on, I just saw Getco does funding. https://angel.co/
No extra funding for Interactive Brokers FIX CTCI solutions vs sockets through TWS Trader Workstation desktop application
I can confirm with a call to Interactive Brokers that you can still get access to the IB FIX gateway for the initial $10K required. You do not need an extra x amount to get access. Be aware that there is $500 for this but it does free from other limits if you went through the sockets with TWS.
How does a prop trader with a unique intra-day system go about looking for funding or trading for a prop firm to leverage the system?
I started this process 6 weeks ago. I didn’t have verifiable record so I opened a small account and started trading. I also prepared a report as to why my strategy had edge w/o divulging proprietary info. Through LinkedIn & few personal contacts, I am sending my live trading acct report periodically, say once a week to interested parties. With expected 50-100% annualized return, I figure it would take 4-8 months before I start to get investor funds to some scale. I’ve just started sending resumes as well to hedge funds. Would love to see others’ feedback on how best to go about this. If you do have verifiable record, then just start reaching out.