brokerboy, Like I said, I mainly want to keep my series 7 license valid while learning with small shares. I don't even have to use leverage, so what's the risk for the firm if I don't? The advantage to the firm is that once I improve and trade bigger size, they make more money. You may very well be right that there is no such prop firm out there. I knew when I posted this that it was a longshot but just wanted to check. If you run one of those firms, say so. If not, let them speak for themselves.
buddy because i am a trader who will trade 1.5 million shares a month and thats not much even. i know others who do that in a week. i am net plus every month. i have also hooked up a few new traders with group leaders so i think i know what they want. i personality know a few group leaders that always want to add on to there group. i know the cost of the clearing firm on avg to most prop firms. i know the cost the firm charges the group leader. i know the avg cost of an execution system and the cost of a ecn book and nyse book to an avg firm. i forget the exact amount of holding each individual license to a firm but its a few 100. i know the cost of realtick, reuters, thomson one and also the tax a charting company has to pay each month to receive the data from the different exchanges. ok buddy i have a clue and your a fool looking for a handout. so tell me why a firm wants to lose $2500 a year to be nice and hang your license. i am mad because you don't get it why should a hard working trader get a worse deal then you. if i trade a 1.5 million shares and spend a few 1000 a month on slips that can be gross 10k. so they are going to want a bitch who spends $35 calling be real. you should watch boiler room because remember we don't pitch the bitch. also to all the big players i know i'm not big but this guy has it coming.
now here is my nice tip. you should goto a broker pay him to hang your 7 and stop being cheap. it might cost $500
lol, ease up on the poor guy- he's going to get treated like shit anywhere he trades with that volume and account size!!! maybe call up don bright, he frequently posts on ET and I think he might be able to accomodate you with a small account- he also offers training. he will give you more leverage as well. I'm not going to plug his firm, but search this site..........you can't miss him
You could easily have condensed the above, actually all of your responses, into a couple of sentences about fees as you understand them and not had to do any insulting. And by the way, I don't need Reuters, RealTick, Thomson, open book, etc. Get your facts straight. I've read various threads on ET about commission rates, checked out broker ratings, and I've seen that rates are falling and firms are getting more competitive. I don't think my question, considering my lack of experience, was that outlandish. And even if it was, it isn't deserving of your responses. Too bad I can't ask a simple question here without getting bombarded with flames.
Since when did software developers work for free? Do you think there is some kind of Home for Retired Software Developers who give away free Level 2 trading software? Is there a charity called the Software Army, who pass out warm soup to laid off software developers who then write code for the masses?
You basically want someone to park your license which is illegal even though you will trade, since that is your stated intent for going with a prop firm. As a prop trader in order to get you quotes, they have to be professional quotes, since you are registered as a pro, hence they have to pay the cost for even level I quotes on the NYSE, NASDAQ, AMEX.
Somehow I don't think he's getting the answers he was looking for. Hope his "friend" warned him about this.
Bright was offering a deal for 5k down a while back, pm Don and see if it still stands. but seriously, it's only a test. If you let it lapse, you can always retake it.