Discussion in 'Professional Trading' started by windsorphd, Dec 21, 2006.
2500$ of your own money, 90% cut
series 7 required - $800
You left out any positives.
I can give IB $2500 of my own money, keep 100%, pay $.005/share, not get a series 7, and not pay anything per month.
Are you trading with their money? What's your margin?
trading with your own money of $2500 minimum which is leveraged out to 25k.
daily meetings to discuss your trades.
senior traders willing to answer questions.
If the people are good and you REALLY get along with them, this is the only part that's worthwhile.
Paying 10% off the top, 50% more on commissions, $65 month, and paying $800 up front for the double the margin seems pretty steep.
If you're just getting started, you don't need double the margin, you'll blow out faster. If you've been paper trading for a few months and are getting good at it, then go for it. If not, sign up for free paper trading.
Do they supply the lube or do you have to purchase that too?
100% payout, Put up $15K (so you have a chance of surviving the learning curve). Use $1-$3Million in strategies that work, rather than trying to pick stock/market direction with (what is basically) a PDT retail account. Associate with some of the best traders on the planet. Help "during" trading day vs. after the fact.
Separate names with a comma.