I trade my own capital. I never said I was a prop trader. Like I said in my first post. " I don' t work for a firm".
But you need to teach the trader how to make money. The rate over by us goes down over time, but there are certain costs that need to be recovered first. Plus if you barel people in, the newbies can't possibly get that much attention from the senior traders. I know that it takes alot of time to provide hands on training to even one guy. The question is, if the rates are that good for everyone regardless of volume, why doesn't your branch have every trader? Why does the Lynx branch of Andover still attract so many traders, and their rates aren't even close to what your friends branch is offering?
Exactly, you have the capital to get enough bang out of 4 to 1. Most of the people here are looking for a place that will take them with minimal to no capital. What is the name of the branch? Don't worry your not advertising, I'm asking.
I don't trade from a branch, I trade remote. I used to work for a different firm and was employed as a mentor to train new traders. I think that was a good idea, I was compensated for helping a new trader. Part of my compensation was derrived from the time a trader spent at the firm. If I did a good job the trader made $ and I got paid. It was a win win situation.
Caliber relax I think that TickerWatcher is just teasing all of us. What is the point of bragging about your rates ? I asked TickerWatcher 4 weeks ago if he can hook me up and nothing happened. Man you got a good rate, good for you. Wee can not get, so should wee cry ? Boasting is childish.
I have no Idea of how many people lynx attracts. The branch I trade through doesn't advertise and is filled to capacity. I've only been trading for 4 years, been in the business for 6 and feel the traders in his branch are some of the most prolific traders in the county. I am a small trader in comparison to them. Most of the traders there average over 300K shares per day. He does charge more to trade in the branch and we both understand why (equip and environment). Access to capital. Here is a whole new situation. Some firms will put traders in touch with private individuals who will meet the margin calls. They do this so the trader can trade more, therefore the firms makes more commissions. Factoring the cost of leverage into commissions is not in the best interest of the trader they pay much much more in this situation. It's all about the commissions.
All I want, and I think everyone else reading this wants to know is who to contact so they can get the rates you're quoting? I don't want to rip anyone off, and I also don't want to give misleading information about potential low rates, so if there's a firm or a branch of a firm that's giving out these rates, I will gladly forward the people that interview with me, who are looking for those types of rates, to this firm. I already do it for Lynx in SD, cause I don't have a branch there, and for Lynx in NY if that's where the trader requires to trade. Can you imagine how many people would sign up. So who is it?
That's my point, he's not hiring, cause he really can't afford to have a firm full of traders trading 10K a day average. And if you decide to trade remote, no one is training you, and you have to buy all the equipment, and software. All that adds to the cost per share. And when you add it all up, you prob get to where I charge for someone doing 10K a month.
I told you I can get you that rate. I'm sorry if you thought I didn't care, but I had a ton of messages asking millions of questions. You want the rate PM me and I'll tell you what is needed.
You assume incorrect information. It;s not a prop group. Look what most traders spend in excess in 1 month of commissions. It more than pays for the equipment! A half of penny difference may not seem like much, but it adds up! Firms make so much $ and the unsuspecting trader has no Idea. Think how fast one can make up $2K for equipment in commission savings.