About Us

Wall Street Trading is a proprietary trading consulting firm based in New York City.  Combining four decades of experience in capital markets, Wall Street Trading collaborates with its clients to help them become profitable traders.  We take pride in the level of support afforded to our customers from the onboarding process through regular operations.  Wall Street Trading partners with several CBSX member trading firms to affording our customers the best support, most competitive rates and payouts.

 

James Saraceno, Managing Consultant

James Saraceno is a visionary behind the Wall Street Trading brand with twenty-years of experience in capital markets. He is leads the Risk Management and Trader Education practices for the firm.

Mr. Saraceno started his career in retail brokerage, progressed into retail trading desk management, private equity and now focusses electronic exclusively in trading. Since entering the electronic trading business in 1998, Mr. Saraceno has developed a proven expertise in trading strategy execution, risk management, operations management, trader development and education.

Prior to joining the Wall Street Trading team, Mr. Saraceno has worked for firms such as South Richmond Securities, Whale Securities, MH Meyerson, AB Whatley, Generic Trading, Northern Security Capital, and Legend Trading.

 

Chris Cooper, Managing Consultant

Chris Cooper joined the Wall Street Trading team leading its business operations practice in Florida.   With over seven-years of experience in trading and analyzing the financial markets, Mr. Cooper is an invaluable addition to the team.

Mr. Cooper, known across the trading community as Channel Guy Trader, has developed a unique offshoot of channel trading.  Mr. Cooper brings to Wall Street Trading a first-class trader development, technical analysis and leadership programs.

Mr. Cooper attended Florida Atlantic University - Barry Kaye College of Business, where he earned his degree in Business Administration with a double major in Finance and Accounting.  Prior to entering into the trading business, Mr. Cooper worked as an Assistant Portfolio manager performing stock analysis facilitating growth in his firm’s client equity portfolios.

 

Steven M. Cohen, Managing Director

Steven Cohen is a co-founder of Wall Street Trading with over two decades of experience in information technology and capital markets. He leads the expansion of the firm’s Information Technology and Operations practices.

Mr. Cohen started his trading career in 1998 and has gained extensive experience across numerous industry verticals. With a strong background in information technology and networking, he has applied these disciplines to both create and optimize algorithmic trading strategies.

Mr. Cohen graduated from Rutgers University in 1997, earning a Bachelor’s Degree in Political Science.  Prior to founding Wall Street Trading, Mr. Cohen worked for various Fortune 500 companies such as AT&T and Merrill Lynch.

 

Wall Street Trading



 

 
 
 

You should consider the following points before engaging in a day-trading strategy. For purposes of this notice, a “day-trading strategy” means an overall trading strategy characterized by the regular transmission by a customer of intra-day orders to effect both purchase and sale transactions in the same security or securities.

Day trading generally is not appropriate for someone of limited resources and limited investment or trading experience and low risk tolerance. You should be prepared to lose all of the funds that you use for day trading. In particular, you should not fund day-trading activities with retirement savings, student loans, second mortgages, emergency funds, funds set aside for purposes such as education or home ownership, or funds required to meet your living expenses.

You should be wary of advertisements or other statements that emphasize the potential for large profits in day trading. Day trading can also lead to large and immediate financial losses.

Day trading requires in-depth knowledge of the securities markets and trading techniques and strategies. In attempting to profit through day trading, you must compete with other professional, licensed traders employed by securities firms. You should have appropriate experience before engaging in day trading.

You should be familiar with a securities firm’s business practices, including the operation of the firm’s order execution systems and procedures. Under certain market conditions, you may find it difficult or impossible to liquidate a position quickly at a reasonable price. This can occur, for example, when the market for a stock suddenly drops, or if trading is halted due to recent news events or unusual trading activity. The more volatile a stock is, the greater the likelihood that problems may be encountered in executing a transaction. In addition to normal market risks, you may experience losses due to system failures.

Day trading involves aggressive trading, and generally you will pay commissions on each trade. The total daily trading fees that you pay on your trades will add to your losses or significantly reduce your earnings.

When you day trade with funds borrowed from a firm or someone else, you can lose more than the funds you originally placed at risk. A decline in the value of the securities that are purchased may require you to provide additional funds to the firm to avoid the forced sale of those securities or other securities in your account. Short selling as part of your day-trading strategy also may lead to extraordinary loses, because you may have to purchase a stock at a very high price in order to cover a short position.

All proprietary traders must submit fingerprints and Form U4 (Uniform Application for Securities Industry Registration or Transfer), and have trading privileges as an associated person of WTS Proprietary Trading Group, LLC.  Before beginning to trade, all traders must have either a Series 56 or Series 7 license. WTS will sponsor traders to get a license.

There are special risks associated with uncovered option writing that expose the investor to potentially significant losses. The writer of an uncovered call may incur large losses if the value of the underlying security exceeds the exercise price; and the writer of an uncovered put may incur large losses if the value of the underlying security declines below the exercise price. Uncovered option writing is not suitable for everyone. The strategy is only for the knowledgeable investor who understands the risks, has the financial capacity and willingness to incur potentially substantial losses, and has sufficient liquid assets to meet applicable margin requirements.

Proprietary traders may be required to make initial capital contributions in order to become a Class C Member of WTS Proprietary Trading Group, LLC. There is no guarantee that the trader will be successful and these capital contributions may be lost.

Proprietary traders are not customarily paid any salaried compensation. Instead, traders are entitled to distributions based upon profits from their trading – pursuant to their Class C interests in the firm.