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It sounds to me that what you are talking about is day-trading, where you work out of your own account, not out of someone else's. As far as I know most day-traders have to have a minimum of $25,000 to start out with because they often buy and sell on margin in order to make money, so you'd have to bring along at least that much capital to get started. But I'm not clear on WHERE you can do day-trading. There used to be many offices set up at some smaller brokerages where people could go every day and do their thing, but I don't know if these still exist. Maybe someone else on these boards knows. If not, you'd have to invest in your own technology, which would probably mean renting a Bloomberg or Reuters terminal so you'd get real time prices. Those of course also cost money.
All in, its a pretty risky business from what I know and not for the faint of heart. Many folks have lost everything playing with their own money. As they say down on Wall Street, better to use OPM (other people's money). Maybe you should look into getting licensed and trying to land a trader job with an established firm.
Last edited by citylove101; 10-09-2011 at 04:21 PM..
So you can get a VISA to "freelance" stock trade in the U.S.? These Visa's are typically granted becasue of unique skills. What "unique skills" that are unavailable in U.S. citizens do you bring to your free-lance trading?
Do you print out your OWN visas or are they available for sale?
Why would a freelance trader even have to BE in the United States? Doesn't internet trading work everywhere the same? Unless of course you are planning on buying a seat on the NYSE...they go for about $4 Million. For that price I'll bet they are VERY comfortable seats.
Thank you very much citylove101 and PullingHairs, also Kefir King for your help.
About Kefir King question. Yes, of course there are Stock Exchange in Madrid, the issue is I wanna to move forward and come to the States.
I made about 2MM€ in DayTrading in 2 years operating in the Spanish stock. So money is not a problem, but, of course, I'm not going to pay 4MM$ for a seat at NYSE. So, if that's the price, I'm not interested. That means about 1,5 years with my actual income to make it profitable. Nope.
I just wanna to live in the States (I admire pretty much USA in many ways) and do what I know to do.
About the VISA, I just get the card with the "Investors option". That means I have to invest money in something in your country. I get the greencard for 2 years only, but it's ok. As far as I know, there are not VISA's available to buy, and I'm not confident about it's legal to buy a VISA. No idea about that.
@PullingHairs I have actually a degree in finance here in Spain, also a Master in Markets, both in the University of Valencia, where I currently live. Thanks for your advice. And for the eTrade issue, I didn't know that.
I'll look for any of the established firms you mention, but I'm not sure if they will recruit a Spanish trader. We'll see.
As I said, thanks all of you for your help. It's very much appreciated.
just so we're clear, you want to move to the US and do day-trading?
As long as you work out the green card situation, you probably can do that. You'll just work out of your house working on your own account for your own money.
You can't be a stock operator (trading other people's money) without some form of affiliation with a trading firm, I don't believe. You won't get a license. You need to be sponsored by a member firm or the likes. Check out FINRA.org for more info.
Be careful mi amigo, when the other ruling class traders hear you speaking espanol they are going to send you to wash the dishes. You will likely be sent to live near the 7 train with the rest of the spanish speaking immigrants. you have to let them know that you are a pointer and not the shleper that the ruling class assumes you to be.
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