I've been in the business about a year. Im predominantly a scalper. I trade approximately 6,000,000 shares a month. I find the overwhelming majority of my profits goes towards commissions. Does anyone know of a proprietary firm that offers a program conducive to scalpers? Im hoping theres a plan that pays a percentage of your gross.
Take a look at my firm www.echotradeonline.com. They would charge you about $0.06 to $0.01 per share with your volume depending on how you place your trades. I would suggest calling them directing as you might be able convince them of a better deal with your volume. Echo isn't proprietary (well New York is right now but other offices aren't) This means put up the capital and 100% of the losses and your gains are yours. 602-977-0777 ask to speak to Rob rtharp
Give Me A Break Anyone that trades 6,000,000 shares a month (272,000 per day) knows where to cut deals. More and more of these threads are just setups where you can flog Worldco, Echotrader and the like. I was born at night but not last night.
Tradex, I dont know how you became so synical...and frankly I dont care. I have no idea what you are talking about as far as Echoetrade and Worldco are concerned. If either of those firms could give me the most competitive offer then thats where I'd be. To be perfectly honest I just began my search. This website offers an excellent forum to hear whats out there from those that are in the trenches. I look foward to hearing more responses on the matter from those who actually have something constructive to say.
Joshua The best thing to do is click on the discussion link above and then Professional firms. Wonder around for awhile. Don't feel bad about Tradex21 post. He is just trying to look out for the board. ALso check out the broker ratings link above. Welcome to Elitetrader If you have any questions just post them and a few traders will answer them. Usually run a search first though as a lot of topics have been already covered. We also suggest using the your account section above. click on it and edit ignore feature. Suggest posts to ignore from are currently Shortnfool TradeRX and Mistermark rtharp The board would also like to hear from a trader who does 6 million shares a month scalping. Would you care to share your strategies? ideas, and such? What firm are you currently with? I'll personally invite you to post
Where are you now ????? Of course you may not want to come out and say it. I clearly understand the prop firm paranoia and wheeling and dealing. (you guessed right I am not a great fan). Also know this tharp is recruiting for his firm (echo). 6 million a month (if you pay close attention) is not that much. 20 days a months to trade = 30,000 a day. Email me if you wish and I will give you some ideas as I have spend some time considering this. By the way what do you call scalping nowadays .03-.05 ??? I was with ETG (clearly a scalping read juice firm) before it was fashionable to trade prop and I used to scalp 30-50000 a day easy and we scalped for 1/4 and halfs - now I am not affiliated to firms. I have been home based, now retired (from active trading) So e-mail me freely.
I think RTharp did the same thing on his post......I would love .06 cents or 6 one hundredths of one cent as my commission rate!! I think he meant .6 to .9 cents per share considering Echo starts at 1.00 cent per share on the first trade.