I never did or do build PCs to sell to others for profit, I am only talking about myself and my experience with PCs (since I was 12). I almost bought a Dell a year ago until I discovered the piece of shit motherboard they wanted to give me and which they REFUSED to upgrade. That was the only time Dell was a cheaper alternative, except for what is the heart of the PC, the motherboard. I was not looking for a >$1000 low end computer, I was looking for a PC I can actually do real work with. If I wanted a cheap piece of crap that I would expect to wear out in a year, I would look no further than Gateway & Dell. Actually the refurbished PCs on Ebay are a better choice, well at least for me since I do not need Dell's Indian tech support to hold my hand. Regardless, DELL is for the sheep, particularly the idiot debt ridden middle class. I would expect most of you to disagree. Come on now, how can "Dude, we're getting a DELL" do anyone wrong?
NYSEscalpa take note. unfortunately this is the reality of the trading business. People only care when their own money is involved. Which is why you in no way deserve the BP your looking for with the amount of risk your willing to put up. We are supposed to believe your not like this because you say so. Sorry, not good enough. Put yourself the firms position.
I'm guessing that we've been had (or "punk'd")....we responded as if it was a serious inquiry...??? Don
not to worry, Don. I have been doing my own due diligence and have many considerations in selecting a firm. You are on my list of people to call soon.
I'm curious, is that "all in" - no ECN's, strong balance sheets, and all the rest of the good stuff? I'm actually serious, I thought I knew all the rates, and even the newer "low cost" shops aren't coming in at that rate (unless you either add ECN's or count "providing liquidity").... Maybe PM me, I am a bit curious. If you're helping your own Firm, I applaud you. I look forward to a PM...thanks!! All the best... Don
the lowest rate i've ever seen is .0005 but thats for doing 10's of millions. don are you guys still at .007 or so on nyse which has no ecn fee"s. anyone doing 100k a day can get .003 plus ecn's and liquidity anywere now. .002 for thats floating around
don also who cares about balance sheets if i put in in 10k and get 20-1 or 30-1 margin or more. if i lose my 10k in a ayear who cares. i've been stuck up on the health of a broker and its cost me huge. hell no i won't put up 50k to aslock house but 10k i can live with to save 5k amonth in commission
NYSEscalpa, what u r asking for isnt so far-fetched--especially if your buying power will be used mostly for intraday--most likely u r gonna have to show a few profitable months at a new firm before they give u that kind of leverage--but its out there.. i mean i keep vey little money in my account and have 5 million in buying power--but my firm knows what the buying power is for--on a day like today, i had a bunch of short postions throughout the day and then those GM numbers came out--i was able to buy 30k--- with all mys shorts plus the GM long it took my total exposure up to around 2.5 mill for that moment--but it was only for a few minutes and the firm im at understands how i trade and i have proven to them that i am a very profitable trader so i have that flexibilty, IMO that has to be earned--anyone that gives u that right off the bat u should be wary of, but after proving yourself a little it shouldnt be that hard--.005 is a reasonable rate, i pay .006, i have been offered half that from other firms and always declined because i think there are other things that i have here that would outweigh the commision savings( i trade 3 million shares a month--so the savings would definitely add up) if u r a similar trader to me (and it sounds like u r) id go for the bigger BP and the .05 or so rate. on 15k u could prolly get around 500k bp to start--after afew profitable months--your bp would be up in 7 figures in no time-just build the relationship.. PM me if u have any questions--
Don, I realize that you are a big fan of the all-in commission structure, and have a vested interest in this structure since that's how Bright Trading operates. Personally, I would strongly avoid any broker that offered an all-in rate, since this sort of rate assures that I will be paying a higher rate than I might otherwise pay. I'll give an example to clarify. Let's consider two traders that exclusively trade Nasdaq stocks and trade equal monthly trading volume. The first trader removes liquidity on every entry and exit, incurring an ECN charge of 0.3 cents per share on every transaction. The second trader adds liquidity on every entry and exit, generating an ECN rebate of 0.2 cents per share executed. Assuming that the brokerage firm needs a return of 0.3 cents per share to comfortably cover overheads/etc, they will charge these traders 0.6 cents per share minimum, to ensure sufficient profits assuming the worst case scenario that the traders are removing liquidity on every order. In actuality, the brokerage firm will earn 0.3 cps (0.6 cps commission minus 0.3 cps ECN fee covered by the all-in rate) from the first trader and will earn 0.8 cps (0.6 cps commission plus 0.2 cps rebate from the ECN) from the second trader. As a result of the ECN add/remove liquidity considerations, the trader using a trading style that tends to ADD liquidity will be charged an excessive rate, and the brokerage firm will receive an excessive profit. This is all a byproduct of the all-in commission structure. For me, I don't want my brokerage firm concerned with ECN fees/rebates. I will gladly pay the fees and pocket the rebates. Instead, I want them to provide the best possible rate, which is very easy for them to do once their largest variable cost (ECN fees/rebates) are removed from the equation. I know of one trader that, on average, gets paid for every order executed. This is because he almost exclusively adds liquidity, and the ECN rebate is higher than his cents per share commission rate. You would certainly never get a deal like this from any "all-in" brokerage firm (negative commissions). However, in this case, the trader is extremely happy, and the trader's broker is happily making a profit on every trade executed. To me, the "all-in" commission rate is more or less midway between a retail fixed per ticket commission structure, and a true cents per share model, with full pass through of incurred fees/rebates. I suspect that the all-in commission structure will be a thing of the past in another 2-3 years, as it is simply an inefficient model to set a fair cost to the trader, since the largest cost of all (ECN fees/rebates) is unknown to the broker when setting the rate. I'm sure brokers will respond that they evaluate a clients fee/credits and may have to adjust commission rates later if the ECN fees are not what they were expected. However, I suspect that it would be extremely rare indeed for a broker to LOWER the rate (unrequested) because the trader was generating substantial rebates for the benefit of the firm. Just my two cents... "All in" rates (or the firms that offer them) will be gone in the future. And hopefully, this clarifies for newbie traders that "all in" may have a nice sound to it, but it's actually a bad thing for the trader. -Eric