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.
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.
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 6/10âs and no extra charges or 5/10âs and no more then 250 in feeâs a month. Thatâs a fair deal in my book and they need you more then you need them.
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.
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.
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 6/10âs. 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.
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.