Domestic Securities? Anyone here trade for them?

Discussion in 'Prop Firms' started by TraderNYC, Jul 29, 2002.

  1. if you are getting 100% payout, then you are definitely trading with your own money at risk, they would go out of business if they operated that way. They are not going to give you their money to trade and then give you ALL the profits. The fees they generate would not make up for the losses and pay all the overhead.

    Apparently some of them will give you their money to trade and then give you part of the profits. Also, being a w2 employee with benefits is not a bad thing at all. In fact if you have a family and need group health insurance it is an absolute blessing.
     
    #21     Jul 29, 2002
  2. Putting up money and giving up half the profits? Sounds a bit weid to me. Although I can't let you in with $5K, if you were making any money at all, you would be paying them $5K a month just to be there (half of $10K).

    Anyway, good luck, learn what you can. Trade listed stocks and make some money!!

    Is this really Harvey's new venture? I like Harvey Houtkin (I'm one of the few who do, I think). He closed most or all of the AllTech retail offices after the bubble, and I was curious if he got into prop trading.

    Let me know!!

    Don
     
    #22     Jul 29, 2002
  3. actually I meant not putting up money and getting a portion of the profits.
     
    #23     Jul 29, 2002
  4. I hope this is a farging joke!

    If they tell you to put up you own $ so you can add liquidity to their ecn your on the losing end.

    When you use attn YOU are the last to get hit! When you finally get hit if you do, the pros run you over (unless you trad palm)!

    If I get hit for 10K shares I know I will have to hold at least a 5 cent wiggle because a major buyer will only hot you as a last resort.

    Yes this is harvey's new brain child, but he doesn't come to work.

    TraderNYC maybe we will meet on the trading floor.
     
    #24     Jul 29, 2002
  5. Big Don,

    Do him....a big Don favor and let him open an account with his 5K. He'll lose it anyway trading for the attn rebate, just give him a chance. I beg you!
     
    #25     Jul 29, 2002
  6. axehawk

    axehawk

    If you're already in NYC, why not just go to WorldCo? If you've been at SLK and have experience, Hitman will hire you with no capital requirement and a decent commission rate.
     
    #26     Jul 29, 2002
  7. yea! work for the hitman!:cool::cool:

    the two of you together>>>>:cool: :cool:
     
    #27     Jul 29, 2002
  8. two peas in a pod!

    :p
     
    #28     Jul 29, 2002
  9. axehawk

    axehawk

    Let me make it clear that I have no affiliation with Worldco.

    I just figured putting $0 down and getting between 80-95% payout would be better than putting $5000 down and getting a 50% split.
     
    #29     Jul 29, 2002
  10. because depending on one's trading style, it might be a better deal. high volume, low net traders might (depending on the rate) do better with per-execution fee structure and give up of half the profits. Under a per share rate, they might never be net positive so a 110% payout might be of no benefit.
     
    #30     Jul 29, 2002