Jean,
I would echo everything that LPS5 said, and add a few additional comments.
Starting a new 'bricks and mortar' daytrading outfit can be very difficult. In many of the successful cases that I am aware of, these new firms started with a very successful trader as one on the founding partners. In this way, you have the comfort of a consistently profitable trader generating income for the founders through trading, while also benefiting from substantially lower commissions that the new firm can achieve. In addition, this trader(s) 'proves' to others that success can be achieved and serves as a role model and mentor for others in the trading room.
Ideally, you would open the office initially with several successful traders as clients. Once the firm is open with a handful of successful clients, building the business becomes much more viable.
On the other hand, if you have never been able to generate consistent profits by trading, and you don't know anyone who has, opening an office on your own is a likely path to failure.
Best of luck,
-Eric |
