Just thought I'd share my Kershner interview for people looking for a prop firm. Stand up place imo. Extensive interview. Interviewed with HR girl and risk manager guy for over an hour each. Sat with traders and asked questions. Took an hour long battery of tests designed to test your multi-tasking skills, your ability to spot patterns quickly, and other misc. stuff. Must be able to type 30wpm. Big trading floor. 120 traders. Everyone I met, including the traders were very down to earth and helpful and friendly. Start you with 25K and 100 shares max per trade. Cut you off for the day after $200 of losses. Flexibility to develop your own methodology within reason but mainly day trading. 2 out of 3 fail. Make their money from 33% of successful traders. Best day for guy I talked with was $26,000. Best day for record holder was $330,000 in one day. $20,000 in profits would net you $7,200. $3,000 in comm., $1,000 in desk fees, and 45% split.
I don't know much about their business model but I know Andy personally and he is a very bright guy and has done a good job with his firm from other traders I know. Good luck to you. Austin probably one of the best place in North America to reside so hope it works out for you.
Well, I haven't been offered the position yet but thanks. Seems like they might be somewhat selective, at least compared to somewhere like Swifttrade. Austin would be a great place to live I agree.
It means you would only get $7200 in your pocket if you made $20,000 in trading profits. That's the cost of a firm training you and providing you the capital.
what is traders' direct cash cost without profit ? $3,000 in comm -- i think it's charged by ECN or exchange ? Am I wrong ? is their system easy to be used for Auto trading which is based on the EA built by ourself ? as it's not a salary income, does it mean all of traders are self-employeed ? so we could deduct some extra cost ( such as transportation , medical , penson ........) while filing tax return ?
by the way, i think austin is not a big city, wonder what's the salary of kershner's full time employee ? is 100k a big deal for a manager ?
You are an independant contractor, and you can deduct same stuff you could with any other business. As far as other questions contact Jamie Thomas. jthomas@kershnertrading.com. Hope this helps. Good luck.
You are paying for the training they provide, which based on their website looks better than most. Without the training that deal would be terrible.