Floor trader's income on Wall Street Warriors

A friend asked how much the OJ guy and the broker woman make on Wall Street Warriors.

I thought 700k to 2 million. (???)

Does anyone have an idea? (for any floor trader or broker for that matter)

Also, if you buy a seat, are there any other expenses you have to pay to the exchange where you trade? A rent of sorts?

Thanks!

 

The guy's a hedge fund, so probably 2% of assets, and 20% gains.

The broker, perhaps a buck a contract, would be my estimate.

 

Thanks mschey.

 

As mschey said that depends whether you are trading for your own account, a firms or fund account or like the cotton chick just executing trades for a firm.

If you trade on your own you even may end up loosing money.

From what i know Larry the FCOJ guy is the Co-President of Gotham investment fund. So he will make some percentage of the wins based on a high water mark. Maybe 10% maybe more. Depends on what the fund charges its clients and how much he has to share with his Co-Presidents or partners.

 

With the "cotton chick" (I like that!) can she make much more than, say $1 per contract?

In that example it seems her income would soley depend on order flow and nothing else.

How about some incentive for her to take a position and profit? Or is that not allowed for a broker?

Thanks!

 

Brokers cannot trade for themselves and their clients because of potential conflicts of interest. ie taking a good trade for themselves before filling their client's order.

A trader can be a speculator or broker on the floor but not both.

 

"Brokers cannot trade for themselves and their clients because of potential conflicts of interest. ie taking a good trade for themselves before filling their client's order."

That is why they open accounts in the name of their mother-in-law or offshore accounts.

 

when the floor was big in chi town, the people that made the most were the t bond locals and the eurodollar brokers. Those guys making 10m in a year wasn't news. Brokers on a busy floor can absolutley kill it.

I don't know about brokers now, floors are just less busy. As for locals, there are a number of locals making several hundred grand to 1 or 2 m a year now....a few very gifted making more.