SERIES 56 LICENSE

Its been a while… a long while since I posted something. This is just a quick update for whats been happening since last time I posted anything… I have been studying my ass off on charts and stocks, also received my Series 56 License in July. For anyone who is taking the exam, feel free to reach out to me if you need any insight.. I also created flash cards to help me study. You can access them by clicking HERE. 

The flashcards are just a study guide,you will need to study the manual and practice exams to! Good Luck!

Also will be posting more trades soon on YouTube,, slow working progress but we getting there!

 

 

FROM PROP FIRM TO HEDGE FUND

Whats up America! Hope everyone is having a amazing summer and getting ready for the last half of the year. Time is flying and 2014 will be here in no time. I wanted to give everyone a update on whats been going on for the past month (August).

If you read my my past post then you know that I am trading with a Prop firm.  This prop firm is off shore and based out of the Bahamas. I am sure a lot of you have heard of SureTrader the very popular broker based in Bahamas that offers traders amazing borrows for shorting penny stocks. I personally do not have a account with SureTrader but my prop firm is also based in the same city, Nassau, Bahamas. The reason my prop firm is based out of Bahamas is because the SEC cannot regulate or have not been able to regulate companies based there. Since Bahamas is not part of the US its hard for the SEC to implement their laws there.  Hence giving traders the freedom to day trade as much as they want. Some of the benefits that these off shore firms offer are:

No PDT rule

Freedom to day trade as much as you want

High margin, up to 10x the buying power or more

Low profit split between firm and trader, I used to have 99 to 1 ; 99% I keep: 1% the firm keeps

Great trading platform: I believe the best day trader platform is DAS Trader , Lighting quick executions!

Over the last few months the SEC has been trying to get a hold of the off shore firms and crack down on them because they are contracting US traders and giving them the power to by-pass SEC rules. Obviously the SEC doesn’t like that, and they want everyone to know who’s boss so eventually they want to stop these dealings and possibly shut down these firms who contract US traders. I received this information from my prop firm and a industry insider. They personally have not been approached by the SEC yet, but they do know of other firms that the SEC has gone after. So in order to continue to do business with US traders they are being proactive and moved their offices to New York City and started a hedge fund.

A hedge fund works completely different. There are specific rules and processes to follow and doing things the right way or the SEC way is what its all about.  Once I am setup I will be able to trade the funds money, the more profitable I am the better advantages I will have in the future. For the past month that’s all I have been doing, waiting for paperwork, studying, learning,  and getting educated. I should be ready to go by next week. I can’t wait…. I am ready for some ACTION!

In the meantime I’ve had some time to chill and actually do some work at my real job as a Corporate Recruiter. Also caught up on some TV shows, Dexter, Breaking Bad, Ray Donovan and Walking Dead…. right boo! lol

How I got into the Stock Trading

It all started in high school,(shout out to Baldwin County)… Yea!

When you are a teen you dream a lot…. thinking about what you going to be when you grow up? The usual answer is I’m going to be Rich! As long as you have been alive there has always been a buzz about Wall St., about buying and selling stocks becoming a Stock Broker or Stock Trader, Its just a cool job…. You knew they made a lot of money and you wanted to be just like them. So growing up becoming a Stock Trader was one of my dreams, now that I am finally in a position to actually do it, the journey begins!

Fast forward to present day and I surprisingly find myself stock trading daily the small cap markets. I officially started in September 2012. I opened a Brokerage account with Tradeking, because of the low commissions and customer service. From Sept. 2012 to Dec. 2012 I just watched the markets, followed certain stocks and researched and read all types of articles. I wanted to understand what caused stocks to move up or down and in the small cap markets and its not always about the earnings. Penny stocks are the gutter and a lot of crazy shit goes on down there. But if you take the time to educate yourself and understand penny stocks you can actually make money like a lot of successful traders I know.

January 2013 I officially started trading and in about 20 trading days I made about $815 dollars, that’s not a lot but for a beginner it is a good start, and I only made 6 trades the whole month of January. I love trading and see myself doing this full time. So continue reading this blog and follow my journey, it will be a crazy ride ..but from here on out the only place to go is up.