is my prop deal a good one?

Discussion in 'Professional Trading' started by trader_1990, Aug 11, 2007.

  1. I am 27,new to day trading, not new to financial markets . worked on wall street a few years(NOT in trading), but I have a strong read on markets and price action.

    My deal is: 70% payout , $600K buying power intra day and $600K overnight , 3000 shares max per position. The buying power and share amounts will go up once i prove myself. commission is 0.008 per share.

    Is this a good deal?? And much much much more important:is this enough to make good money??
  2. How much do you have to put up?

    For a newbie, this looks like a good deal. You can definitely make money. If you do enough volume, you'll be able to lower your rates down the line. Are there any other costs (i.e., desk fees, training fees, etc.). If there are none and the .08/share is all-inclusive, then go for it.
  3. If you're not putting up money, it's a good deal.

    If you are putting up money, it's a terrible deal.
  4. ken__0


    im amazed any one would let a new guy have that much exposure overnight
    hopefully thats hedged
  5. I would also like a comment on my deal as well, i have $250k BP @ .007/s and keep 100% of profits, i put up 5k and its my 5th month trading... THanx

    btw... i trade on average from 65k to 100k+ shares per day
  6. That's a great deal for a new guy!