Hello, I am a long time reader, first time poster from the tri-state area (NY/NJ). I have been trading for a number of years now, and from reading these postings, I find that I am not getting the best rates. I hope you guys can help me out on this. For the most part, I am a consistent trader, mostly trading NYSE stocks and I trade around 2 million shares a month. I am willing to put up 25k in capital and require around a 500k - 1 million dollars in buying power. Currently, I pay sub 0.004 per share plus ECN fees. I get 99% payout and I have never had a losing month over the past two years. I would like to invite any comments on approximately what kind of deal I can get. Of course, I know that I cannot base any decisions on where I want to trade from commission/payout alone. If you know of any better deals, please let me also know how good the software is, as well as the environment in general. Although this may not be so common in the trading arena, I also highly value honesty from recruiters. So if you believe that the firm that hires you is downright honest, please let me know. Also, please let me know if the companies are located in the I will consider all inputs as helpful in this matter. Thank you.
I rather not reveal that in a posting. BTW, why do other people's postings disappear? Who is moderating these postings?
Hello, Right now, I think the company I am at is fairly well run. In recent months, it has become more "corporate", most likely due to business expansion (so it is understandable). I really do not have any ill will towards my company. I simply need to find out the best rates I can get so that I can feel as if I am not being taken. I have been trading for some time now and I really never cared so much about rates since I always consistently made money. I have calculated how much I could have made if I had rates closer to "market rates" and the number makes me ill. So I have been looking through this useful website (though this thread has proven somewhat useless to me) to find the market rates and I think I have been paying too much. Sure there are intangibles such as software, environment, etc. to consider. However, for the purpose of this thread, I'd just like to know what kind of rates I can get for my kind of volume/risk/buying power etc. Perhaps I should be knocking on the door of every prop trading company, but I was hoping to get opinions from actual traders than from recruiters. Also, I believe that there are more experienced traders here so that I won't have to waste my time reading rants about companies. So far on this thread, I've heard some mention of rates but no follow up (it was even deleted). I would assume you cannot advertise on these threads, but if anyone wants to contact me, you can send me an email through this site. Again, if there are any figures that can be provided, I would find it useful. Thanks.
Steve, Hmmm, Just 3 posts. Innocent, perfect background. No losing months in last 2 years, and you want to improve? Generally, and no slight to you, a lot of us traders have come to recognize these seemingly innocent "perfect customer" scenarios a modified advertising, which since that's not really allowed unless you pay Baron, has occurred in seemingly innocent threads like this one. So, pardon the rest of us if we just don't seem to buy in to your innocent questions....
No slight taken. I do not know how to convince you that I am not a recruiter and that I am an experienced trader. I can tell stories that date back to the Asian crisis of 98, the tech explosion in 99, the shorts in 00, the WTC effect in 01, the Enron scandal in 02, the stealth rally in 03, the homebuilders in 04, and the oils (and homebuilders) in 05. I trade homebuilders, oils, hmo's and some commodities related stocks. Most of what I trade are listed on the NYSE. I trade off of earnings, various news, charting, etc. My system is not very complicated...just requires preparation and focus on movements with a lot of risk management. What else can I say to show that I am a trader? You can email me. BTW, who is this "Baron" that one has to pay?
You're right...enron was in 01. I remember making a bunch in the summer of 02 and I thought it was enron taking the market down. Anyway, does anyone have anything to contribute that is relevant to my initial post? If not, I'll stop checking this thread because it is obviously useless. Thanks anyway.