Starting capital

Discussion in 'Professional Trading' started by sunggong, Mar 15, 2006.

  1. Hello everyone,

    I have been trading on a part-time basis for about 1 year, and I enjoy the trading so much that I'm seriously considering becoming a prop trader.

    From reading through many posts here, it appears as if the career path of prop trading is a tough one and not many survive for more than a few months.

    Although I won't say I'm the exception, but I think I have the right personality/demeanor to be a successful trader, and I want to give it a shot full-time.

    For a beginner, what kind of capital is typically required to work out a deal where I can pay all the fees but keep all the profits I make? What kind of leverage/buying power can I typically negotiate if I'm willing to put up, let's say 5k, 10k, 20k, or even 50k?

    What are some of the common fees that I'm expected to pay as a prop trader on a monthly basis?

    Thank you very much for your help.
  2. Thats awesome sung.. Maybe you're dat man with the golden clicks.

    There is the desk fee, data fee, commissions.. and couple of other fees.

    $10K should be enough for you to negotiate a 100% or close to it payout.
  3. Thank you, Ripley.

    It looks like desk fee is normally waived if you work as a remote prop trader, but there are still commissions, data fee, software fee, etc....

    I'm just wondering what kind of fees, on average, do people pay on a monthly a remote prop trader? (Please do not include commissions.)

    I have about 8 months of living expenses currently saved up, and just trying to see if I should make the transition to a prop trading full-time or stick with retail trading....

    Anybody? Again, thank you greatly.
  4. Cheese


    Well Pingpong sayin' and doin' are 2 different things.
    Save your money. Skip trading or daytrading.
    Stick with daydreaming.
  5. Haha, thank you for the laugh. I was expecting someone to blast me, as is the case with most newbie questions....

    Anybody else care to comment about avg fees you pay as a remote prop trader (w/ and w/o commissions) please?
  6. i don't do prop.

    If you don't mind, how often are you doubling your capital?
  7. I actually doubled my capital swing trading in about 8 months. Last 4 months has been a roller-coaster....I was up about 15% in both Dec and Jan, but I've been not so lucky over the last two months and am actually down about 3% for the year....

    I'm still up more than 100% since I started trading.

    Are you a retail trader?
  8. Depends what you want to trade sung. If just listed NYSE stock you might get charged a monthly software fee of between $150-$195 on top of commission if you want to trade NASDAQ prob another $50 to that then add any subscription fee like bloomberg.... Really what you should first be concerned about is retaining your capital for as long as you can most firms will even take you in with $5000 and Ive even seen some taking people with just $2500 and giving them 10:1 leverage. I think its indispensable that you have money saved up for at least 18 months if you really want to give it a shot.

    Good luck bro
  9. Grob ,
    I'm starting to notice you keep mentioning this insane sentence

    But in fact

    you might want to check the spyderthread

    ain't nobody doubling any type of money.

    Sort of over exagerating over there now aren't we?

    I think you are giving lots of un-needed FALSE EXPECTACTIONS to many people.

    "How often are you doubling your capital" is a pretty retarded question to a complete newbie trader.

    I can also ask you how many girls are you banging at the same time each night @ your age

    Would be pretty dumb woulldn't it?
    #10     Mar 15, 2006