Aliassmith Beats a "Dead Horse"

[aliassmith]

Well, this prop firm concept with several accounts is interesting. This is something I would love to train my daughter to do. I really like the idea of trading the ES for this brain teaser.

How little can you get away with and still make good money?

I thought this was interesting.
Trade 1 contract of ES and make an average of 2 points a day or 10 points a week.
That seems very doable for sure.
Run 5 accounts.

1 account is about $420 after commissions.
5 accounts will be $2100.
That is $2100 x .90 = $1890/week
That is the equivalent of having a full-time job @ $47/hour.

To sum it up 2 points per day average and 5 accounts trading 1 contract of the ES.
Over $90k a year, I think my daughter can live on that. If she wants a raise get some more accounts.

[prochargedmopar]

Well, this prop firm concept with several accounts is interesting. This is something I would love to train my daughter to do. I really like the idea of trading the ES for this brain teaser.

How little can you get away with and still make good money?

I thought this was interesting.
Trade 1 contract of ES and make an average of 2 points a day or 10 points a week.
That seems very doable for sure.
Run 5 accounts.

1 account is about $420 after commissions.
5 accounts will be $2100.
That is $2100 x .90 = $1890/week
That is the equivalent of having a full-time job @ $47/hour.

To sum it up 2 points per day average and 5 accounts trading 1 contract of the ES.
Over $90k a year, I think my daughter can live on that. If she wants a raise get some more accounts.

Those the $1500/1500 accounts (25k)??

[prochargedmopar]

I went into scalp mode on YM.
List of 1 account on QuanTower
7 trades $28 commission.
30 gross ticks.

Cpope wants to get in contact with you about quantower.

You got discord name right?

###misc1.jpg

Invite him to our discord.

Sent

[aliassmith]

Well, this prop firm concept with several accounts is interesting. This is something I would love to train my daughter to do. I really like the idea of trading the ES for this brain teaser.

How little can you get away with and still make good money?

I thought this was interesting.
Trade 1 contract of ES and make an average of 2 points a day or 10 points a week.
That seems very doable for sure.
Run 5 accounts.

1 account is about $420 after commissions.
5 accounts will be $2100.
That is $2100 x .90 = $1890/week
That is the equivalent of having a full-time job @ $47/hour.

To sum it up 2 points per day average and 5 accounts trading 1 contract of the ES.
Over $90k a year, I think my daughter can live on that. If she wants a raise get some more accounts.

Those the $1500/1500 accounts (25k)??

Ya thats what I have so far.

[aliassmith]

Well, this prop firm concept with several accounts is interesting. This is something I would love to train my daughter to do. I really like the idea of trading the ES for this brain teaser.

How little can you get away with and still make good money?

I thought this was interesting.
Trade 1 contract of ES and make an average of 2 points a day or 10 points a week.
That seems very doable for sure.
Run 5 accounts.

1 account is about $420 after commissions.
5 accounts will be $2100.
That is $2100 x .90 = $1890/week
That is the equivalent of having a full-time job @ $47/hour.

To sum it up 2 points per day average and 5 accounts trading 1 contract of the ES.
Over $90k a year, I think my daughter can live on that. If she wants a raise get some more accounts.

1 NQ for 5 points a day
2 YM for 11 points a day < commission would be double
Can accomplish the same goal.

[aliassmith]

I was chatting with someone earlier about opening 10 AMP Futures (sub) accounts.

The total cash would be $5000 per account. ($50,000)

Then the person said, "I like trading other people's money", of course I agreed.

I was thinking about that later. I think with APEX, Bulenox, and the like, you are always trading your money.

You pay some money to get data, platform, and a demo.
You pass the demo.
You pay again for the data, platform, demo, and the privilege to earn.
You make a profit cushion equal to the draw down limit then that cushion is your draw down limit.
You are self funded at that point.
You aren't dependent on the prop firm to stay in business to continue making money.

However, what you do gain from the process is leverage. You can turn $180 outlay into thousands of dollars.

If you use your own money, you gain:
No hurdles to jump thru. Setup your accounts and you are ready.
You can decide how much draw down until you quit.
You control your own payout cycles.
You get a better tax advantage for trading Futures directly.

How about do both?

[prochargedmopar]

I was chatting with someone earlier about opening 10 AMP Futures (sub) accounts.

The total cash would be $5000 per account. ($50,000)

Then the person said, "I like trading other people's money", of course I agreed.

I was thinking about that later. I think with APEX, Bulenox, and the like, you are always trading your money.

You pay some money to get data, platform, and a demo.
You pass the demo.
You pay again for the data, platform, demo, and the privilege to earn.
You make a profit cushion equal to the draw down limit then that cushion is your draw down limit.
You are self funded at that point.
You aren't dependent on the prop firm to stay in business to continue making money.

However, what you do gain from the process is leverage. You can turn $180 outlay into thousands of dollars.

If you use your own money, you gain:
No hurdles to jump thru. Setup your accounts and you are ready.
You can decide how much draw down until you quit.
You control your own payout cycles.
You get a better tax advantage for trading Futures directly.

How about do both?

Explain the better tax advantage by trading futures directly.
What I'm hearing is it's better with a 1099 (working as a trading contractor).
Still, once you hit a little over $600k as married/joint you are in a 37% tax bracket.
Capital gains is set at 40% so about the same (trading your "own" money)

I agree, if you make $5k as a cushion trading 2 mini's on a static account. Isn't that YOUR Money?? It doesn't take much cash in a cfd to trade 2 mini's.
Pretty sure once you have $5k you can open a futures acct with regulated broker and trade 2 mini's with that same $5k.

[aliassmith]

I was chatting with someone earlier about opening 10 AMP Futures (sub) accounts.

The total cash would be $5000 per account. ($50,000)

Then the person said, "I like trading other people's money", of course I agreed.

I was thinking about that later. I think with APEX, Bulenox, and the like, you are always trading your money.

You pay some money to get data, platform, and a demo.
You pass the demo.
You pay again for the data, platform, demo, and the privilege to earn.
You make a profit cushion equal to the draw down limit then that cushion is your draw down limit.
You are self funded at that point.
You aren't dependent on the prop firm to stay in business to continue making money.

However, what you do gain from the process is leverage. You can turn $180 outlay into thousands of dollars.

If you use your own money, you gain:
No hurdles to jump thru. Setup your accounts and you are ready.
You can decide how much draw down until you quit.
You control your own payout cycles.
You get a better tax advantage for trading Futures directly.

How about do both?

Explain the better tax advantage by trading futures directly.
What I'm hearing is it's better with a 1099 (working as a trading contractor).
Still, once you hit a little over $600k as married/joint you are in a 37% tax bracket.
Capital gains is set at 40% so about the same (trading your "own" money)

I agree, if you make $5k as a cushion trading 2 mini's on a static account. Isn't that YOUR Money?? It doesn't take much cash in a cfd to trade 2 mini's.
Pretty sure once you have $5k you can open a futures acct with regulated broker and trade 2 mini's with that same $5k.

Futures are taxed at a 60 long term/40 short term ratio.
Max tax rate will be 27% on your account.

[aliassmith]

$1,000,000 on 1099 is taxed as income with a realized tax of about 30.5% + state and city.
$1,000,000 on futures gains is $600k as long term and $400k as short term. about 17% + state and city.
$10 million would be around 25% + state and city.

I am not a tax professional so your mileage may vary.

[Don_xyZ]

Well, this prop firm concept with several accounts is interesting. This is something I would love to train my daughter to do. I really like the idea of trading the ES for this brain teaser.

How little can you get away with and still make good money?

I thought this was interesting.
Trade 1 contract of ES and make an average of 2 points a day or 10 points a week.
That seems very doable for sure.
Run 5 accounts.

1 account is about $420 after commissions.
5 accounts will be $2100.
That is $2100 x .90 = $1890/week
That is the equivalent of having a full-time job @ $47/hour.

To sum it up 2 points per day average and 5 accounts trading 1 contract of the ES.
Over $90k a year, I think my daughter can live on that. If she wants a raise get some more accounts.

She want to do it or not?
I've been pushing my daughter to learn coding also but.... it seems it's gonna be a battle