sitting fee outrage

Discussion in 'Prop Firms' started by dumb_mother, Oct 29, 2009.

  1. so here is my deal, i think i'm getting screwed, am i just not realizing what a good deal im' getting?

    so i have 4x my daily value at risk deposited with them- so if you assumed that i was risking 1% / day then they are giving me 25x buying power.

    i can only access my money quarterly

    i trade for a 75% / 25% profit split

    i lease a seat and pay for software at 2000/month

    and i have a sitting fee per month that just got increased from 1500 to 2500$ / month

    all said and done it is 4500 / month + 25% of profits for 25x buying power

    if i wanted to trade on my own i would have to take my leverage in half.

    i'm so pissed about this sitting fee thing i'm fuming right now... but i'm unfamiliar with the norm on the street and don't want to over react- also no guaranteed salary
  2. how much does it cost to rent a computer terminal at the cbot if you wanted to trade futures down there?
  3. Are they using lubricant or is it dry?
  4. that's really the way i'm feeling, but i want to be sure i'm not over reacting. i have a few months left on my countract and just don't want to let them know i might walk prematurely.
  5. Arnie


    That's an ET record for the WORST DEAL EVER!!!

    Hs to be joke, right?
  6. Did you sign some kind of contract which binds you to this firm for a certain amount of time?

    If not, why are you on ET rather than getting the f... out of there?

    That deal is so bad, it's humorous.

    Edit: Sorry, didn't see the time stamp on the original post. Maybe you've already left. I hope so, anyway.
  7. i'm there for another 8 months, i don't want to speak prematurely but i'm leaning towards trying out on my own at that point. we'll see though 1 more year with them would give me better stability to start off hiring a trader or two to start my own shop... that's the internal struggle i'm having but wow am i pissed about this sitting fee increase in the middle of the year.
  8. Is there a breathing fee...