lynx capital and prop trading in general

Discussion in 'Prop Firms' started by ncc2244, Jun 26, 2005.

  1. ncc2244


    Hi I'm a recent ivy grad looking to go into prop trading as it interests me very much (although i just recently started researching about the risky yet freedom-filled, and possibly lucrative job). I recently had an interview with lynx capital in nyc and am hoping to get some more information about prop trading/lynx capital in general.
    more specifically i'm hoping to be more informed about the importance of training, good/bad commission rates, and just overall if it is a good idea to go in with assent (the one on 57th)

    any experiences/advice would be much appreciated.
  2. I'm sure if you contribute a few $K, somebody will take you and your money.
  3. ncc2244


    what was the point of that reply?
  4. Yeah, prop trading is very lucrative and freedom-filled. You'll be trading from the beach and the buckaroos will be falling from the coconut trees.

  5. I think he gave you a fair answer. Assent is fine to put your money in. I would guess Lynx charges near a penny a share to scalp right? Nobody is going to teach you how to trade my best advice is making deals straight with the firm. Tell them you want 6/10’s and no extra charges or 5/10’s and no more then 250 in fee’s a month. That’s a fair deal in my book and they need you more then you need them.
  6. ncc2244


    Sorry but i'm not quite sure what 6/10's with no extra charges or 5/10's and no more than 250 in fee's a month means... are you talking about 5/10ths of a cent per share?

    oh and when i said what was the point of his reply it was because i was a little annoyed with his pointless sarcasm.
  7. Casey30


    I don't think anyone is going to give a new person with no experience and zero track record of profits or volume traded 6/10th's unless there are a bunch of hidden fees. Also, if he is looking for serious mentoring and training I doubt even more that he will be able to attain that rate right away without any real volume. Maybe I am wrong though.
  8. Casey30


    Yes, means 5/10ths of a cent per share or 5$ per 1000 shares.
  9. Casey you would be surprised at what deals are out there. Only a firm paying you a salary is going to train you. The rest teach you to churn. If you can trade 250,000 shares a month someone will charge you 6/10’s. Maybe not Assent but I bet Hold Brothers would be willing to do it for sure. I even think you can get that deal putting down 2500 capital. Maybe 6/10's and 250 in fee's is more real for a new guy.
  10. ncc2244


    hm, I see, thanks of the replies.

    So what can i reasonably expect to find at assent in terms of training? It seems to me like the training is non-existent?

    oh and so the commission they charge at Assent for a new trader is really bad? because they told me I would have to to start with 1.2 cents/share.

    and is the mentoring program of any worth? I'm talking specifically of the Assent branch on 57th and lex

    anymore help/info would be greatly appreciated, thx.
    #10     Jun 26, 2005