Why is it such a big deal for for such a profit split, unless the gross commissions are from your net? Are they? Why is it so bad for 50/50 profit if you are trading with their money?
I talked to some of my guys, and they bring up a good point. If your making 10,000 per month, giving away 5,000 forever is not too smart. In a couple of months you could fund your account and make an additional 60,000 yr. you leave your money in acct anyway, just like putting money up. c
my2cts, you are referring to the old payout structure. ktg currently only offers its new traders the new trade at cost plan. commissions are low (as i described above), but traders start out at a 35% payout, with an opportunity to move up to 50%. also overhead is quite high here. this year my overhead (including full insurance for a single, no child adult) is going to be $27k. while i do like it here, it is pretty hard to overcome $2300/month as a new trader. the pros are that im not sure where else someone with 1 year of experience could have a 1MM+ account (some other traders with similar experience as myself have even more). i also sit directly next to 2 traders who have 1MM+ trader net p&ls. again, good luck. let me know if you have any further questions. jack
I can understand if you are keeping your earnings on deposit in the account and not sharing profits earned on those earnings - to me that's a no brainer. But If I am trading with someone else's money with no risk to me other than my time, why wouldn't 50/50 split be fair? Especially in this post Tuco era where the house can no longer charge you an override? Obviously this scenario is for someone who is not or will not be series 7 licensed. If you are going to get the license, that too is a no brainer, but there are people who don't want to or can't get that license who would seek out a situation where someone is going to bankroll you. Which seems to be the Kershner model. It appears also to be a similar model that Swift uses as well.
Keeping a couple of month's of earnings in an account to keep 100% seems like a no brainer, no matter how you look at it. c
Starting out as a new trader at Kershner sounds good - staying there after you know what you are doing does not (with Assent and Bright in town) - just my $.02
What style of trading is thought by the senior trader or is there a variety in the environment? Also what has been the turnover since your time with firm?
Assent's leverage is not a problem imo and their rates are workable with a 100% payout. I do agree Bright's rates seem high, but I am sure everything is negotiable as a trader moves up volume.
it's not too bad, I would dress no more than buisness casual. you'll talk to the hr lady, she'll ask some general questions; why do you want to do this, tell me a time when you've been in a high pressure environment and how did you handle that, etc... you can ask questions, you'll talk to the compliance guy, and hopefully you'll interview with a coach. this is more of a fit kinda thing, they'll want to make sure they like you/can work with you every day. also are you someone they can guide into being successfull at trading. you'll have to take a couple of tests on a computer, nothing you can really study for except the typing test. and it's not a normal typing test- best practice is this on words- http://www.powertyping.com/trees.shtml good luck!