What's the split at the new firm? Commissions? Have you gone over to check out their operation? Go check their shite out. Ask to watch a live session go on. Be serious to see if they are serious. Have had a couple guys leave our firm for a "better" deal. They had to switch locations twice, deal with a crooked clearing firm and just isn't the deal they thought it was. The best you can do anywhere is trade the best you can. If you are still around in a couple years, I am sure that firm and others will still be interested in you.
Look at it this way: Do you think if you were losing money they would say " You know, I know mr traitor is losing money but he's a nice guy, let's give him some more training and not fire him" I doubt it.
Pretty dead on...except that I would have bolded and used a 24pt font for the NOBODY and the THEMSELVES part.
Forget all the rest, whether you owe them something or not. If they are giving you an inferior product, you should feel no guilt about leaving. It's as simple as that.
well. I've been asked not to speak about this anymore, so I guess thats that. I'm sorry If I can't go into any detail. After having seen these two different styles of trading (scalping/swinging) all I know is that there are people making cash both ways. I'm just happy to be exposed to both styles, and I don't think one style is any more "right" than another. I had fun scalping for a tick on LU, but now I'm moving on to a smaller group (i don't even think it has a formal name), mainly because the salary and split is just better than just having a split. (they were about the same split) Thanks for all the comments guys. Hopefully one day I'll be able to speak more openly about the group...if it ever becomes an actual recruiting firm. (from what I take, this is all brand new = possible short life span...but for a newb thats beter than being stuck at a large shop that either lets you sink or swim....wish me luck!)
HUGE HUGE HUGE MISTAKE..Scalping for pennies will soon be a thing of the past esp with REG NMS around the corner. I also believe in a year there will be no more rebates ,so then what???THE ONLY WAY TO BE AROUND trading for along time is to learn how to do a minimal amount of trades for a large P/L PERIOD.I have been around this game for 11 years and seen all types of trading and the big bucks bar none is trading for p/l. my 2 cents momo
"The big money was not in the individual fluctuations but in the main movementsâthat is, not in reading the tape but in sizing up the entire market and its trend." Reminiscences of a Stock Operator
Theres a reason it averages 35mm shares a day. I would be bored to death playing that penny game though.