I believe you still need to take "continueing education" test's occasionally..I can't remeber how often ..just run it by your compliance officer he/she will know. rttrader1 -
well, i hesitate to say anything but in my opinion 2 cents/sh is criminal unless you are swing trading and holding positions for days at a time. if you are scalping then you will have an extremely difficult time overcoming that handicap. i would be interested to see what Don Bright has to say about this.
i htink 2 cents is really high myself too, but somehow that's what they charge. do most prop traders scalp? like jsut try and get 10-20 cents out of every trade? but the thing is it really isn't feasible for me to do that as I start off with a 200 share limit.
So it will cost you $6 for a 200 share trade and $22 for a 1000 share trade? Jeez, I hope that includes free vaseline for the raping you're getting!
alex is putting up ZERO capital. he has nothing to lose regardless of commission structure. it seems like a fantastic learning opp to me. go for it ! don't let these guys discourage you. in my opinion, any prop firm that asks for capital contribution, particullarly a large one for an average dude 25k or more, either has limited faith in their trading system or recruiting ability. best, surf
unfortunately no free vaseline hahaha anyhow i dunno... i understand it's a lot but at the same time most of the ppl in the firm make on avg 50K or more. i'm not sure what the investment style is though. But i do know if i decide to scalp, it'll only be worthwhile in movements of 20 cents or more. Any other comments? also for my trades, the per share is high, but then at the same time, i don't pay for it, it is deducted from my future earnings. i ahve no capital to put in, is this not worthwhile then? thanks for al lthe responses tho. appreciate the support surfer
Agree with marketsurfer 100% Alex if you are a newbie and don't have or to put up capital, especially in todays market, and there are a few traders in there who will train and mentor you, you'd have to be nuts to pass on it....your downside risk is 0. Even if you walk away with 30%, 30% of something is better than 100% of nothing which is what I see alot of traders "making" or even losing these days, even with their GREAT commissions! And if you don't like it you can always leave!
If when I first started trading I was offered an opportunity to sit next to someone making money who would teach me how to trade I think that the last thing I would worry about is how much commission I was being charged. Even today, if someone offered me an opportunity to sit next to a trader making 6 figures every month for the last 2-3 years, I wouldn't worry about commissions either. You get what you pay for. Education is priceless. I wonder if people that go to law or medical schools chose them for the amount its going to cost them to complete their education. shneed
hi thanks for all your replies i really appreicate it what sort of strategies do most guys use tho for prop trading? as it seems scalping won't really be all that possible for me. unless i scalp like 20cents and higher.. which isn't exactly scalpin but yah. btw solid when u say u know ppl tradin for less those are senior traders rite? cus i think senior traders pay 1 cent a share or somethin