 Okay. Melissa, just chat to me. Are we ready to get started? Or is there something you needed to do before we get started? Thank you. Okay. So, again, my name is Richard Miller. I'm with Sterling Capital Trader. We provide professional trading services for stock market traders primarily. And we work with many different groups such as Melissa Stockswoosh and provide the support, financial backing, and all of the trading account perks that you cannot find at eTrade, ScotTrade, Ameritrade, or any of the big retail trading firms. And I'll get into that moment. Okay. So, we're going to be talking about a few different topics today. We're going to talk about Sterling Capital, what we do. We're going to talk about one of our providers, which is Remora International. We're going to be talking about the software, trading restrictions, trading fees, maintenance fees, the requirements, and certainly how to get started. We offer professional trading services and resources for not only individuals such as yourself and groups like Melissa's, but also larger groups that the brokerage firms, things of that nature that need the extra assistance with prop trading. We offer technical support here at Sterling Capital. So, even though we might be using either the Sterling Trader Pro or the TurboTech, instead of our clients calling them directly, anyone using the software would contact us. And we will walk you through the installation process, how to right click on your chart and change the background color, and all those fancy customizations, things of that nature. Aside from Remora International, there are other prop trading providers out there. And basically, we act as your agents as the middleman to go in and depending on your trading style, whether you're a high volume, share volume trader, or you're more of a high trade execution trader. Meaning, there are some traders that do about maybe five or six transactions a day and do 50,000 shares because they're buying and selling or shorting a large amount of shares. There are other traders that only get in with, say, three, four, five hundred shares and they get in and out all day long and they do it 20, 30, 40, 50 round trips. So, obviously, the pricing structure is different and being that the pricing structure that we would shop around for you would be different, we would have to go to different providers to see who would get you the best price. So, we will negotiate with trading providers out there and get you the best deal. And, of course, we connect our traders with the best education providers, such as Melissa and anyone who needs any education help, we would recommend that you go to her for that. So, let's go to the next slide. So, let's talk about Remora. Remora is separate from Sterling Capital. They're one of the providers that we use. They're the ones who come up with the financial backing for you and the cheap commission costs and all of that. And we'll get into that in a moment. They are a private equity trading firm. So, Remora International, they're based out of the UK. They're outside the US, which is a good thing. Why? Because it means that you don't need a license to be trading their money. Basically, what they do is they have a very, very large account with millions of dollars in it. And they provide you with a limited trading authorization account, we call it, where it's kind of like a sub-account under their big corporate umbrella. And of their millions of dollars, they'll say, okay, here's one of Melissa's graduates. We will allocate $50,000 or $100,000 of our capital for this graduate to trade. And we trust that he's not going to do any big damage because he graduated from Melissa's course and this individual should know what they're doing. Okay? There are also security measures in place. When I seek security measures, I mean, you know, there are people watching to make sure that they would liquidate a position if it goes really bad. And sometimes the technology itself will trip an alarm and liquidate a position if things go really bad as well. We'll get more into that just a moment. Company was established in 1996 by expert traders. Most of the other providers that we deal with are also the same. Remora, they bought out other prop firms over the years. So they have grown to be a very, very large company. They're domiciled into the UK and they only hire educated what they call subcontractor traders. That's what you would be. Instead of you just like filling out an application with them and opening an account like you would at a local bank when you open a check-in account or open an account at E-Trade, Scott-Trade, Ameritrade, International, I mean, IEB or any of those firms, this is a little different. You wouldn't actually be opening an account with them in the same traditional manner that you would elsewhere. Basically, what you're doing is you would be filling out an application to get a job with them, to be hired as a subcontractor. If they accept your application, which they sure will because they'll trust that you have graduated from Stockswoosh and you know what you're doing, as opposed to other people who did not graduate from Stockswoosh or never took a course, and those people would ultimately be denied. Why? Because these firms are very scared, such as Ramora. They're scared to let strangers trade 100,000 plus dollars of their account, so they would want to see that trader's history. They would want to see what they call the trailing 12, which is the past 12 statements from the previous broker so that the firm can analyze their trades and see not only how much money they make, but to see if the trader is reckless and responsible. By graduating Stockswoosh, you surpass that whole vigorous background check. You just get a VIP pass and you're automatically hired because Melissa's graduates have a consistent track record of not being reckless and irresponsible to know what they're doing, so we just assume that you will as well. That's how the firm works, that they hire you as a subcontractor trader and not you're opening an account with them. You're going to be trading their private capital. That's a big question I get often is, why is it that I don't need a license? Well, here in the U.S., if you work for a firm that is U.S.-based and U.S. registered broker dealer, when you trade for a firm, you're typically trading other people's money. Lots of moms and pops out there that want to speculate and they all send their money into a firm, a prop trading firm, and that prop trading firm will pool everybody's money together. They call it public money. Money that belongs to folks. Okay, so for you to trade the public's money, you need a license. Why? Because it needs to be measured, monitored, and all that stuff. But if you had a very, very rich uncle who said, yeah, I have a big account somewhere and that uncle gave you a limited trading authorization to trade your rich uncle's account, well, you don't need a license for that because you're trading the money of a private individual, a family member who's giving you access. Well, with remora capital, they're not your uncle. And they're overseas and they're a private company that has their own private funds. It's not public funds from people in the U.S. or all over the UK and Europe. These are private funds that belong to the investors and the owners of remora, so you don't need a license to be trading someone's private capital. It's their business if they want to risk their money and lose it. So that's the way it is. So you're trading private capital and for that reason, you don't need a license. Trading software is from third-party providers. So remora doesn't have their own software, of course. And neither does Sterling Capital, the company that I represent. There are other software providers out there such as Sterling, TraderPro and TurboTech. And there are others that we're going to be reintroduced in a later time, but I don't want to confuse anybody. So I'll leave them out of this presentation. But these are software providers that maintain the software. They have expert technicians working around the clock 24-7 to keep their servers tweaked and fine-tuned. And we simply pick and choose which providers we want to use. And they're pretty much, they work all the same for the most part. Online reporting for the traders who do come on board with remora, you will, the platform will just show you every day that you have $100,000 of buying power, whatever it is depending on the amount of funds that you want to allocate or you want to contribute as a security deposit. But the way it works is like this. Let's say someone was to put up $10,000, just for argument's sake, because math is simple with 10. If someone puts $10,000, they get 10 times buying power, which we're going to talk a little bit about more in just a moment. And with 10 times buying power, if they make money, obviously their cash balance will increase. If they lose money, it will decrease. But every morning your platform will show you that you have so much buying power. But it doesn't show you in the platform all of your individual trades and buys and sells and shorts and covers from yesterday and the days before. It doesn't always show you an accurate cash balance in the platform. You need to go to the online reporting website to see that detailed information. So remora will provide you with a username and password to their reporting website where you go and you log in with your account number. And you'll be able to see a detailed history of every single trade you did with a time stamp, how much you made, loss profits, losses fees, exchange fees and costs, and your net net number. And you could run your own reports for the day, the week, the month, the year. So you will not be receiving monthly statements in the mail like you would at a traditional retail consumer trading firm. You make your own monthly statement simply by logging in and running your own reports. And when it comes to that time, we will show you step by step how to do that and offer a lot of support through screen share things of that nature. Okay. Member benefits. What do you get that is so great at remora working through Sterling Capital that you wouldn't get somewhere else? Well, start with constant cash liquidity. What that means is this. For those of you who have a lot of experience trading at E-Trade Scott Trade, one of the big companies, you'll notice that whenever you take a position, let's fargument sake you short a thousand shares of stock. And then you cover that thousand shares shortly afterwards. Usually the cash that it took to make that trade will be taking three days to clear. They call it T plus three, the trade date plus three days to clear. Okay. And basically what happens is that money, that cash that you use to do that trade is no longer liquid and available. That money is kind of held hostage for three days. And then when it liquidates three days later, then you have that money liquid cash to take another position. With the prop trading firms, it doesn't work that way. You short a stock, you cover it. That money is available immediately within milliseconds, not three days. So that'll leave you more cash to have more access to more trading opportunities. And in the end, ultimately, hopefully, you're making more money on a daily, weekly, monthly basis. So that's a huge benefit in and of itself. The next benefit I want to talk about is, well, it's available for the next trade. We did all that. All trades, you receive a larger percentage of profits. Now, in most prop firms, the way they make their money is they keep a percentage of your profits. Well, in most cases, that's very generous of them. Look, they're laying out all this money. They're giving you $100,000 of their money. They're monitoring it. They're putting all these wonderful perks, place, charging a very cheap commission, which we're going to get into in just a moment. So the way they make their money primarily is by taking a piece of your profits. But we have made a deal with Melissa that her students will pay no percentage of profits to the firm. You get to keep 100% of it. So that's another big benefit of working with Remora and our selection of prop trading groups, then working with others that are strangers that you might be able to find on the net. Profit split percentage is determined by, okay, we're going to skip over that. That's not for you. And let's go into the trader membership rules. Okay, 10 to 1 ratio of capital is what the firm is going to give you. So for example, for those who deposit $5,000 contribution, they will get $50,000 allocated buying power of cash from the company because they feel that, well, if you're trading $50,000 of their cash and you get yourself in trouble, it's very unlikely that somebody's going to lose $5,000 in one shot. In fact, there's a daily max loss rule that we're going to talk about in just a moment that will prevent you from doing that. And again, the math is simple. If someone puts up $10,000 of collateral, they get $100,000. If someone puts up $50,000 of collateral, they will have a half a million or more. Now, the reason why we call it collateral is because legally the way it works is like this. The company is hiring you again as a subcontractor to trade their private capital, but they're afraid that there may be some damages. So just like anything else, a trader, an individual is required to put up a security deposit as risk collateral against any damage that you might do to their account. So some people might be familiar with renting a house or renting a boat on a vacation. Usually you have to put a risk deposit up just to make sure that you don't bring back the boat damaged and broken. They're going to keep your deposit to pay for the repairs. Same thing with remora. They need a security deposit that pretty much sits in storage. When someone sends in $20,000, $30,000, $50,000, it just kind of sits in a UK bank account in storage just in case something bad happens. And when the trader decides that they don't want to trade anymore, they want to go on vacation for a few months or whatever it is, whatever cash that they have plus any profits they made or less any losses will be returned to them upon request. And basically that's how that works. 10% daily max loss rule. What that means is this. Remora says that you are allowed to lose up to 10% of your money per day. So making the math simple again, if someone has $10,000 of security collateral, they're not allowed to lose more than 10% of their 10 grand, which is $1,000. If somebody loses more than $1,000 one day, the firm kindly asks that everyone, not everyone, but anyone who would surpass the daily max loss, they kindly ask that you would take your own initiative to stop trading, liquidate your positions and call it a day and rest your mind and come in the next day fresh and brand new with a clear conscience or a clear mind. Why do they have the 10% rule? Because over the years of statistics, they have noticed that when someone, anyone loses more than 10% of their cash, they typically spiral out of control emotionally and they start engaging in what we call revenge trading syndrome where they have to make back their losses really quickly, typically at one stock and they fail to follow all of their rules of engagement and it becomes a bloody mess and 10% usually winds up being 30, 40% loss for the day of their cash. So 10% rule, you lose 10% or more, liquidate, stop trading for the day and that's it. If the trader fails to do that, well the risk managers who are kind of, you know, watching over all the traders at one time will be alerted that the person is failing and they will make an effort to contact the trader on Skype which everyone who trades with Ramora must have a Skype account. They need to communicate with you and they want you to communicate with them if you had a quick question that you needed. So they will reach out to the trader and say, hey, you violated your daily max loss, you need to get out of this position, you need to liquidate or cover and you need to stop trading for the day. If the trader doesn't listen, then the administrators, being it's their money, their private capital, they reserve the right to overrule your system, liquidate your positions whether the trader likes it or not and suspend that trader for, you know, a day, a week, a month or entirely. Typically they allow that to happen a few times. So it's kind of like the three strikes you're out rule. If a trader violates the daily max loss rule more than three times and is unresponsive, usually that trader will be cut off entirely and the firm will just send back whatever money they have left. There are no overnights. This firm only provides their buying power for the day and everyone must be out of their positions no later than 4 p.m. Eastern time. We suggest that people start liquidating or try to get out at least five or 10 minutes actually before the market closes. Why? Because if you try to get out at 4 o'clock or shortly before it, in some cases you won't get filled, especially if you have a limit order or something of that nature. If you don't get filled and you get bumped into the after hours, the firm will not automatically just liquidate everyone at 4 p.m. They'll give you a little bit of time, 15 minutes maybe, 20 minutes tops, but usually in the aftermarket the spread becomes so huge where if you thought you were going to lose money, you know, while the market was open, it's going to increase enormously in most cases in the aftermarket. So yeah, try to avoid failing to get executed and waiting until the last minute. Try to get out before that. Okay. Next thing, capital allocation privileges. They can be applied or revoked at any time. For example, when you start off you have 10 to 1. If a trader is monitored for several weeks or months and the trader is doing very well, making consistent profits and certainly shows that they're not, you know, reckless and irresponsible, there may be a possibility that that trader can apply to get slightly more than 10%, I'm sorry, 10 to 1, that maybe they could get 12 to 1 or 15 to 1 or something along those lines. Vice versa. If a trader is displaying that they don't know what they're doing or they do know what they're doing and they're just being reckless and irresponsible with somebody else's money, then the firm reserves the right at any time to decrease from 10 to 1 to 8 to 1 or 6 to 1 or 5 to 1 or even 1 to 1. So just to remind everybody, you're trading someone else's money who is so generous and risk-taking to allow you to trade their cash, large amounts of it. So you kind of have to follow their rules and they reserve the right to, like I said, allocate privileges and apply them or revoke them at any time. Trade at your own risk, technology issues. What that means is this, same thing goes with eTrade, ScotTrade, Ameritrade and all the big ones. Any firm that you trade with, when you fill out that big application, you'll notice it could be in the fine print or the main print that technology is not always 100% reliable, where it could be, you know, a server issue on the firms and the technology of the software provider, and which happens very, very rarely because, like I said, they have, you know, Microsoft certified technicians working 24 hours to make sure that they have many multiple backup systems so that your quotes are always streaming nicely and everything is working on the up and up. So 9 out of 10 times, when there is an issue with stuttering quotes, where stuttering quotes is where your quotes are stuttering, where they stop and they go really fast and then they stop, that is 99% of times it's on the user end. It's an internet issue on the user's end. The PC that the individual is using sometimes decides to do a virus check in the middle of the day on the timer while you're in the middle of trading, which will make your computer sluggish and make your quotes against stutter. Sometimes there might be a Microsoft Windows update happening in the background to update to the most recent version of Windows that is going to put a lot of strain on your computer and maybe cause you to get rejections on buys and sells because it's missing what they call a heartbeat in the tracking of the data coming in and out. So you're trading at your own risk. If there are any technology issues, 99.9% on your end, you can't cry foul and say, hey, can I have a do over? If you're getting error messages or you're not getting out of a trade correctly, you've got a very, very bad print, you cannot call a do. You can't contact whoever is your representative and say, hey, I want to do over. I want to cancel that trade or I want my money back because I lost my, no, no money back ever. You lose money on a trade because of technical issues or whatever issues. It's your loss. And vice versa. If you make money as a result of any kind of technical thing or whatever, that's your profit. You get to keep it. No questions asked. So understand that it's a global thing with all trading firms that you're trading at your own risk specifically when you are a prop trading on a level two platform. Remote trading only. Remora and the other providers that we use do not have physical facilities where you could go and trade at the actual location. Everybody trades remotely from their own computers from the private luxury of their personal location, whether it's work or business, wherever. So as long as you have a strong internet connection, it's a great flexibility to have, to not be held hostage, to have to go to a facility. Something that, talking about remote trading, I forgot to add a very important piece of information. For those people who are trading from their laptops or have been trading from a PC at their home of business, who's using Wi-Fi to connect to their router and not plugged in hardwired, just let me let you know that you're taking a major, major risk. Now when you watch YouTube videos or stream Netflix and you don't have a problem, a hiccup, no big deal ever when you're streaming using Wi-Fi. Yeah, that's cool. Why? Because all of those systems such as YouTube or Netflix, they have something called a buffering process, meaning that they're already uploading a chunk of that movie to your computer. So even if you lost internet connection for nine seconds, you would never, never notice it while watching a Netflix movie because it's already buffered into your device. And the only way you'll see that the movie will stop is if you go maybe 30, 40 seconds without internet. Your trading platform doesn't work that way. It doesn't buffer in information that, that is delayed. You know, it says real-time streaming quotes. So if your internet connection to your Wi-Fi had failed for more than two or three seconds, already you'll start to see your quotes are going to be stuttering and things are not going to be working right. Error messages, things of that nature. So I urge everybody, if you're going to be trading, whether it's through a prop firm, E-Trade, Scoutrade, Ameritrade or anybody, hardwire your computer into the router or into whatever you're using, a hardwire is always the best to guarantee you have that streaming data at all times. Okay, moving on. Let me see. Yes, I was just seeing that Kathy was chatting to me there. Okay, so disbursements on the 15th of every month. Unlike most other firms, you know, prop trading firms primarily do their payouts once a month on the 15th. So if somebody made a profit and that someone was, you said, you made a few grand, you say, well, I want to withdraw $2,000, $3,000, whatever it might be, you must put in your request, you know, usually by the last day of the month so that you will receive it 15 minutes, 15 days later on the 15th. But if someone was to send in a request, and it's just an email request, no fancy form to be filled out, just send a request by email to your support person saying, I wish to withdraw X amount of dollars, but not withdraw the word they use as disburse. And you tell them the amount and they'll have it for you and schedule it to the building department for the 15th. The thing is, you can't send an email on the 5th or the 8th and say, hey, send me money on the 15th in three or four or five days. No, they want 15 days notice. So try, well, definitely your request must be in no later than the first business day of the month. Yes, they'll be flexible if you do it on the second or third business day of the month, sometimes, but don't be surprised if they deny your request and make you wait a whole extra month to the following 15th of the following month after that to get your money. So they will do their disbursements on the 15th and this also is not only for profit takers. This is also for people who decided that they want to take a break from trading. They want to temporarily put their account on hold or close their account entirely must be made no later than the first business day of the month. So you get on the 15th. If the trader fails to do that, they're going to have to wait an extra month. Okay. Next thing is the symbol blocking and security protection. What that means is sometimes you'll have there will be some kind of an IPO or a very volatile situation such as a pharmaceutical stock that just released a brand new drug that is great for diabetes or whatever it might be or vice versa. A pharmaceutical company might have news out that there whatever drug they have out on the market is hurting people in some one way or another side effects of whatever it might be. So that would be a great shorting opportunity. Sometimes the news is so explosive that the firm will block the symbol from being traded because it will be so explosive that the risk factor and the volatility in that particular stock will be so outrageous and unmeasurable that it could lead to the stock being halted for 10, 20, 30 minutes and opening up later at a completely different price that might be a huge amount against you. So if you're one of those traders who put up say $25,000 or $20,000 and you're trading $200,000 worth of stock and you're fully loaded in that stock and the stock gets halted, there is a possibility you could lose 40, 50, $60,000 which 20 of it is yours, but the rest of it is from the firm and the firm as you know they're in the UK. So they're going to have a very hard time getting that money from you. They already know it's going to be a lost cause. So taking that into consideration they do block symbols time to time when they feel that that symbol has a huge risk factor and is going to be a big risk to them. Okay, requirements. No licenses required from you as we spoke about earlier. You're going to be trading private capital, private funds that belong to the company and not public money that belong to moms and pops. Minimum deposit is typically $5,000 but the firm does suggest 10, 20, 30, 50 this way you have a half a million to buy power so you could do or at least a couple hundred grand so you could take on a lot of positions at one time. When I say positions I misspoke, sometimes depending on your trading style you might put orders out there that are pending. Limit orders to short a thousand shares of this, a thousand shares of ABC, another thousand shares of XYZ symbol, I'm just making up symbols, right? And you might have several orders out there and some of these stocks might be 50, 60, 70, 80 dollars or more per share. Even though you haven't been executed even though those orders are just pending out there waiting to be executed they still eat away at your buying power. So if your buying power is 200,000 and you have two or three orders each one of those orders is 80, 90,000 each on a thousand shares of an 80, 90 dollar stock well that'll eat up all your buying power. So it's nice to have extra buying power there, okay? The minimum is typically five. There are times where the firm will make an exception and take slightly less than five but they don't like to do that and if they do most like your 10 to 1 buying power will be reduced to 8 to 1 or 5 to 1 which will make it very difficult for you to make money so try your best to get it up there at least above 5, okay? Next thing to talk about is you could cancel any time before the end of the month to avoid fees. What that means is this there's going to be a monthly software fee, okay? And that monthly software fee is not prorated. So if somebody fails to let the firm know that they don't want to trade say for the next month of May or June they're going to be charged for the software. They can't call because someone cannot contact their representatives say five days into the month and say no, no, no cancel my software. I'm not going to be trading this month. It's too late. The first day of the month is already triggered. That trader will be charged for the entire month even though they don't use the platform. Same thing goes with if somebody activates their platform on the 25th of April this April they only have three days to trade. They're going to have to pay for the entire month of April. So if you're going to go on vacation or you want to take a break from trading you have to let your your support person know no later than the last day of the month. It's usually good to do it before that to guarantee you don't get charged. Receiving remaining net sum of your collateral contribution including profits and losses and trading expenses what that means is if somebody decides to take a break or they want to stop trading and quit tally they will receive the net sum of their collateral. So if they put up 10,000 and they made 10,000 and they lost five that whatever it is that they made and lost profits losses commissions costs and fees whatever that net sum is that's the amount of the collateral that will be dispersed back to the trader if they decide to quit or take a break. All the funds are dispersed on the 15th of the month. We spoke about that already and if anybody has any questions about this presentation that you just saw just send a an email to support at sterlingcapitaltrader.com sterling capital trader if somebody well I'll do it myself to put it in the chat support at sterlingcapitaltrader.com I just chatted but I don't see my chat didn't come up that's a little strange I don't know Kathy or Melissa if somebody can help me with that I just chatted in the chat box the the address there it is support at sterlingcapitaltrader.com there it is so if anyone has any questions again my name is Richard Miller it is my pleasure to help you out with that let's talk about trading activity and reporting I think we spoke about that briefly earlier if you are trading live the the platform will not show you a history of your trading details or your buy sells shorts and covers you'll have to log into the website for your trade reporting and we will provide you with the username password or word for that you'll see your trading activity all the details meaning which ECN route you used and and if like you entered to short a thousand shares it might get filled in partial fills not just all in one chunk and you'll actually even get the detailed information on all the partial fills as well then if you want you could export that information you could export that information to your excel spreadsheet if you know how to do that so there are no monthly statements you make your own monthly statements 1099 at the end of the year for profitable traders only what that means is this at the end of the year which is really cool by the way this is one of the best perks about working with a prop trading firm of any kind is that you're a subcontractor you're an employee so at the end of the year let's say you made a hundred thousand dollars in profits you know after cost commissions and fees that's your net profit well most people who have a retail consumer account will have to cough up about almost 30 percent of that and capital gains taxes sure if you have capital losses from the previous year that roll over you know you could deduct one from the other and whatever but for someone who doesn't have deductions from the previous year if you had an account with a retail consumer firm you make a hundred grand you're going to have to pay about 30 thousand of it to the government which i think is absurd but that's the way it is and there's no way out of it with a capital gains you can't write off your cell phone you can't write off your your your automobile gasoline expenses that's capital gains you made by taking capital and turning it over to make more capital so you kind of held hostage paying that entire 30 thousand dollars in most cases when it comes to 1099 you're being 1099 as a subcontractor towards your personal income not capital gains so it says at the end of the year you made 100 grand had to make 100 grand by you know trading and working for this company called remora what did you do for remora you traded for them but you know you're a consultant or whatever it is that you want you choose to put anything you want on your your description on your taxes you discuss that with your account remora will just give you a 1099 for your services and they'll leave it up to you to fill in the blanks typically what traders do is they have a corporation specifically ns corporation where the where the write off privileges are a little bit better now again i'm not a professional accountant certified uh you know cpa uh so i cannot give advice but i can't share with you what other people have done and i've done myself over the years at the end of the year when you have a nice profit um you can add up all your trading expenses costs commissions fees ecm fees your your platform thing your internet charge because that's a part of your profession your telecommunication services including your cell phone because you need to make calls to people about trading to get your trading ideas your automobile expenses because you need to drive sometimes to meet up with other traders to find out what the great stock pick of the week is going to be next week whatever you see where i'm going with this computer equipment anything related that can be related to trading can be according to your accountant may be possibly written off as operating expenses okay for your business so at the end of the year you know even the rent you might be paying whatever that's your office whatever you want to call it uh traveling expenses when you go travel but um and you pay for before flight launch you might be meeting other traders to get some ideas of information so you see how easy it is i mean i can go on and on with this and i don't want to bore you but you see how easy it is at the end of the year to rack up a very large sum of money and expenses that you pay throughout the years and entertainment meals uh you know meals and entertainment show whatever it might be to offset that 30 grand that you might over the government but it doesn't work like that for example because you'd be in a different tax bracket so at the end of the year on 100 grand you might owe 15 000 not 30 000 to the government it might be 15 or 20 to be more accurate here in the us and that means if you have close to 20 000 dollars in meals and entertainment and costs and fees and this and that well then at the end you'll probably only have to pay two or three or four thousand dollars at best uh in taxes to the government sometimes none sometimes zero now i think that's a lot lot better than um that's a lot better than having to pay 30 000 in capital gains no matter what no questions asked you're forced to do it you just made an extra 10 20 30 000 dollars in your pocket so that in and of itself uh makes it a no-brainer for somebody who want to trade for a pop trading account versus trading for a retail consumer account so let's move on to the next thing remora is responsible to report their trading activities so what that means is this most people especially those of you who are experienced and been trading for a long time you'll notice that um at the end of the year typically you and your account have to go through each and every single trade you did every profit every loss and reconcile them and and and you know provide a an extravagant report to the government well being that you're not trading your own money under your social security number you're trading the private funds that belongs to a bunch of rich guys in the UK under their tax ID number they're the ones who need to report to the two on their taxes on their corporate account all the buys and the sells and all that stuff that they have their accounting staff to do that so you're clean and free of having to submit anything regarding to trading and the details of trades all you need to do is to submit the fact that you were paid x amount of dollars and 1099 for services that you provided the service that you provide is not discloseable on your 1099 you have to go into detail you just you know whatever you want to put consultant this that and whatever it is um you could write off your expenses against it um major major benefit you are not required to have to do all the details okay um traders typically write off all their expenses like i just spoke about um let me quickly go into direct access platform uh for those of you who are not familiar with this um all of our prop traders have to use a level two level two of those two boxes here on the top left hand corner of the screen and what those boxes represent is all the buyers on the left and all the sellers on the right and you actually get to see um you know get to see all the trading take place um why is it important to you because that including the time and sales windows that are next to it in conjunction with paying attention to whatever chart you're looking at down Jones so forth um is uh is somewhat of a crystal ball to let you know what's happening in some cases in the next minute to two minutes uh with a particular stock uh but these level two computer the level two screen will show you all will have all the charts all the studies fully loaded with everything you'll ever need to be a professional trader with level two you'll also get better trade executions instead of um putting an order out there on a what we call an online broker you know it's basically just sending an email through their platform to their trading desk there's a lot of lag time typically with other firms uh that do online uh you know online accounts this is direct access level two where you scrub out the middleman and you scrub out any delays you will get immediately executed on your trades within milliseconds of submitting them because you cut out all the middlemen and go directly to the new york stock exchange or the NASDAQ trade execution costs how much is this going to cost you well we no longer have the dust trader pro at this time we hope to get it back in the near future that was 250 we have the turbo tick pro that's also 250 uh great software and then we have the sterling trader pro which is 395 which is the uh or there's discounts on that as well maybe bringing it back down to 350 actually um and uh that is the Mercedes of the platforms that is the best of the best and um for those of you who don't mind spending an extra hundred dollars a month um for that software that's great for those of you who can't cut it i believe the turbo tick would certainly suffice um talking about the trader fees the traders pay the greater of 0.005 per share or 495 per ticket per order but not both combined of course most people don't do more than a thousand shares because 0.005 per share times a thousand shares is five dollars which is the same as the 495 so if you're going to be buying and selling or shorting and covering 500 shares at 800 or anything under a thousand just know that you're going to pay 495 per ticket anyone who has any experience or watches tv and sees the commercials e-trades got trade ameritrade thinkorswim ibe all the rest of them they're all on or around nine dollars trade they advertise eight sometimes seven but it's um it's not accurate um when you get your statement at the end of the month and you take all your trades and you divide it by you know uh the amount that you pay you take the amount you pay divided by the trades you'll see that with the little you know miscellaneous cost fees it comes out to about nine dollars trade with us it's 495 almost a little bit more than half the price so that's another no-brainer uh for somebody to uh make money um ecn routing charges there's arca there's ed jacks ed j and many other routes that you could choose from some are free depending on how you route your order if you're adding or removing liquidity but most people like to leave it on arca because arca is like the fedex of routing your orders your orders will get there on time you'll get a quick execution and you'll get a better print on your orders so um i would say arca is the best arca charges typically about 0.0025 per share so it's a little extra cost on top of the 495 but it's worth every penny but again you do have the ability to depending on your trading strategy to avoid that cost exchange fees there's something called the TAF fee the scc fee and there are other fees that are passed through they're miniscule they're like 0.00000 like five or six or seven zeros per share which adds up to almost nothing that you combine total at the end of the month but they are there and they're passed through meaning whatever they charge the platform uh is passed on to you the firm doesn't mark up or make any kind of money on that um i said before that they do have a low cost or free routes such as edge x or edge a but it does matter how your place if you trade to add or remove liquidity if you have questions about adding a removing liquidity you could always ask your instructor melissa she perhaps might fill you in on that if it's not already a part of her education package um so direct access trading software fully loaded with all the major chart studies uh real time level two streaming quotes um not uh you know no delay whatsoever time and sales window is very important to have and it is included you have before and aftermarket trading data for your analyzing and things of that nature and your research level two data with total view meaning you get to see all of the market makers at ecns on the buy side and the sell side um the you have the ecns for the nice c nasdaq brood arca edge x and edge a and there are now some others uh that we can get into it another time you have the major indices in including the dow jones s p the vix the russell and all of those professional charting tools and you have customizable charting studies and things of that nature programmable shortcut keys for those who want to make their lives simple and and just turn a a key into your computer into a short another one into a cover uh that can be done with certain customizations and modifications on top of it and that's pretty much it so what do you do um i suggest that you after you're done with this uh you could either email me directly and in addition you go to sterling capital trader forget the l t d i uh i don't know how that even got in there at sterling capital trader dot com like it is in the chat uh she uh kathy had chatted my my email address but the url that comes after the ad symbol that's the website sterling capital trader dot com you want to click on our services at the top or mouse over it i don't know how that works exactly then scroll down and you want to select uh proper proprietary trading services when you or you could click that big link there at the bottom uh that says trading sponsorship services once you click on that you will have whoops sorry you will have the ability to put in your name first name last name email address phone number and all that kind of stuff um and request more information about the remora or our proprietary trading service providers and uh and that will get you you know in the right path thank you kathy for putting that in there um so that will help you uh uh get started um and you'll be able to get my phone number directly so we can talk over the phone i'll be able to accommodate you subcontractor trader agreement forms come to you in a pdf file they come from remora international um and they are fillable for the most part all you got to do is download the forms to your computer um it does not work you can't fill them out on your phone or your tablet device um they have fillable fields so you just save it to your computer you open the document and you fill out your name and phone number email address mailing address all the information that it wants right on the form and you have to remember to save the form with all your because a lot of people i don't know why they do they they spend 10 minutes to fill out the form and then they shut it off and they lost all of their work that they did save it to your computer once you're done saving it then you could open up an email to send it to us so you would open up an email and attach that saved document to your email and send it off then you'll get a confirmation from sterling capital saying we received it we checked it over you signed it all the right places everything's great to go and you may proceed to send in your funds um once you send in your funds the next step is about 24 to 48 hours you'll have installation and login credentials so uh you'll have that within about 24 to 48 hours and you'll be live and up and running with real money in just a very short period of time so um that pretty much wraps it up um i'm open for questions i want to thank you for attending and there is the correct address sterling capital trader dot com i also have our skype address those of you have skype um i feel welcome to go on skype put a trader dot network one to hit us up for a friend request and uh and i'll be more than happy to accommodate you um does anybody have any questions on what we just went over anything