I am a new trader who has been trading for four months. I am not getting a fair deal at my current firm. This month I will be doing about 20-30k a day and I am looking to get a fair deal. I am curious to see what other shops and traders are doing. I am in the NY NJ area. Feel free to PM me to set up further discussions.
20-30 k a day. Why do you need to trade prop. You can open your own brokerage account and keep all your money. There's plenty out there with very competitive pricing. I think you are full of sh!t.
Yes I do mean 20-30k shares a day...Like I said this is my fourth month trading and I am starting to become profitable. I only had 3 gross negative days out of last month. I was gross positive 1800 for the month and net negative 1400. I don't have a fair shot to make it at my current deal. My winning days get cut in half and my losing days get doubled. I am currently at .008 with an 80% payout. I attempted to talk to my boss and see what daily volume he wanted to get lower rates and he didn't want to hear any of it. After reading many posts on this site I see that there are much better deals out there. So I wrote my previous post. I don't want to go retail at this time because I am new. I want to work in an office and learn as much as I can also, I like trading with other people.I can send you my resume and last months P&L PM me if interested. If anyone can help me out it would be greatly appreciated.
Why not trade "Retail" @ a prop shop. You may pay a small desk fee, but all of The P & L is yours. Most "prop" have no problem with retail traders. .008 is rediculous BTW! el surdo
you should be at .005 max and 100% payout. thats a bs deal. your boss is paying .001-.002 so he's making a min of $2500 a month on overides on you. i'd also pay zero software charges or any other charges. look around this board you can find a good deal. if you're remote i'd pay no more than .004
To open a retail account do I have to put up 25k? Would it be ok if I PM or IM you to ask you a few questions?
I am new to this so I have a question on rates: when you say the rate should be .005, are you talking round turn or per side?
In Stocks, that is per share. Yes you need 25K to daytrade retail. If you are undercapitalized, shop for a better PROP deal. Please NO PMs el surdo