making the big bucks

Discussion in 'Professional Trading' started by FastandFurious, Aug 3, 2006.

  1. which method most successful scalpers like Steve Tvardek and others prefer, 100% payout or % of profit ?
     
    #21     Aug 4, 2006
  2. High payout (95%+) and a rate ~.0025 is acceptable for my volume and how I trade.
     
    #22     Aug 4, 2006
  3. Profit split, at least... maybe 80% that I have talked to, not sure about Steve_T, but I think he probably is as well since when he posts in blotter he gives us a different number than on his software, but not sure.

    I'm at a profit-split, but at .68 cents per trade, there isn't any way your not going to be at a profit-split.

    EDIT: he already answered
     
    #23     Aug 4, 2006
  4. I am somehow confused.
    I thought I can get .002 rate with 100% payout if I make huge volume, like 5 million a month, what confuses me is that steve says he would take 95% of profit and pays .0025

    Am I missing something here ?
     
    #24     Aug 4, 2006
  5. I dont do anywhere near 5 million a month yet (2-3 million at most). Otherwise I could get a lower rate I'm sure.

     
    #25     Aug 4, 2006
  6. Now things are clear for me, thanks Steve for having your input and thanks Jmowrey for the link you provided, good work man.
     
    #26     Aug 4, 2006
  7. What one trader gets, might not specifically be what another trader gets. This is where negotiation, making a lot of money and proving it to your broker/firm, and doing volume come into play.

    I know someone on here that does .0015 at Genesis and he does around 2 million shares, he didn't say what his % is, but I'm sure it's around 90% or more.

    It all depends, that is why you go shopping. Trust me, I have done my work on finding the lowest commissions for myself.

    Someone has told me that firms pay maybe 30 cents per per order, and I have heard others say they pay .00025 I think per share and all that.

    It's really low, so, as you get lower, your either going to be doing more volume to allow the broker/firm to make money, or taking a profit split, in which case you might get rock bottom commissions.

    EDIT: I'm slow... Good luck with the hunt though. Search for the best broker for you, and once you get the deal that is for you, stick with it.

    A lot of firms nowadays do .001 at 80%. I have talked to A LOT of firms btw.

    Here is one e-mail of a reply, with for what I said was 500,000 shares a month.


    So, anything is possible. Competition is a good thing :)

    Logically .002 at 90% or somewhere around there would have been an option for me as well.

    But again, this is when I asked for around 500,000 shares per month, those of you that do more, might be able to get lower.

    I didn't go with this firm btw, went with another which is why I'm at .68 per-execution.

    Firms pay 30 cents (what someone has told me), or .00025 (someone posted that on ET of NYSE stocks per-share), so they are making money off of you anyways.

    Which is why I try to encourage competition umungst firms because we can go lower in the future.
     
    #27     Aug 4, 2006