There is not one day trader thats going to say that they are making money , i mean any money trading stocks , not to mention 10,000 a month ... and on consistent basis. No Way! You guys still asking questions about who is making money trading stocks should consider changing markets. Stop wasing your time with stocks that don't move and familiarize yourselves with the currency markets. There is money to be made in currencies , and I mean reall money Check out the info www.globalfxllc.com
Comon guys let's stay civil now. I mean nobody bashes stock day trading firms, in fact they were and still are huge for traders, but now stock day trading doesn't pay. Traders pay commissions and in fact still do. No commissions in currencies , guaranteed stops and limits. You go through brokers every time you trade. FXCM happens to be the best.
Something that stock trading firms do that prop firms apparently do not is pass on the rebates to the traders. I am still fairly new to fx, and I would question whether or not a high volume trader (one that would consider prop trading) would be able to get this rebate trading on their own. Most likely not, but is still a valid and important question. So, there remains a big question in my head- how do you guys make your money- I am assuming that a large chunk comes from that $500 a month 12 hours a day (not full day) desk fee.... Say rent is $3000 a month.... all you need to break even is probably 4-5 traders (after rebates)...... NYCDT
I wish our rent wa 3k a month for 8500 sq ft. the Bloomberg alone is $1700 a month. cmon. we make most of our money from our traders being profitable. With respect to rebates...ofcourse equity firms give rebates...THEY CHARGE HUGE COMMISSIONS AND GIVE A LITTLE BACK TO THE TRADER. WE DO NOT CHARGE AND COMMISSIONS, TICKET CHARGES OR FEES. We do get a volume rebate but believe me it is not much. we are a very honest firm and have nothing to hide. Our firm was founded by equity traders who know what traders go through. the fact that we charge a desk fee just helps pay for the services we provide. our profits come from the traders. personaly i have traded at alot of firms that promise you everything and give you nothing. we tell you what you will get and deliver. It is one thing to have worked here and then bash us but please guys if you dont know us why do you say we are a sham without even meeting us. come to an interview/seminar on thursday nights and see for yourself. 7pm sharp.
No bad intentions- I am more interested in learning how you operate and answer some questions that others would like to hear as well. Obviously we are all interested in making sure you are a solid business (and that you are here to stay)- without a fuzzy feeling, you won't be getting many traders from elite trader- even with the warm and fuzzies, elite trader posters are a tough nut to crack!!! If you don't mind and are able to, mind sharing with all of us the number of traders you have, average duration of their stay, profitable traders to losing traders, etc- the more information the better for both sides. NYCDT
Sorry pal, but you are WAY out in left field on this one. I personally know several guys netting over $10k a month day trading stocks and even a few in the mid 5 figure range. Your comments indicate that you are either a) ignorant or b) fishing for washed out loser traders and hooking them on chasing their dream in a different flavor. How do you expect to project a professional image when you make idiotic statements like that?
i think the guy is nuts too. i personally know people making 10k to 40k each and every month daytrading. i am a net + trader too but can't say i net 10k every month. i don't find your deal all that great and the guys you do get were guys who failed in stocks. the odds are they will fail in fx too but you guys will get 500 bucks from them for 3 or 4 months and let them trade fake money til you cut them.
1) Every guy in my branch makes money stock trading. Some make a little each month (5,000-10,000), a few make alot (50,000-well over 100,000). The majority fall in the middle. 2) Is it really necessary to start two or three new threads EVERYDAY just to pump your shop? It doesn't project a very good image. Anyway, good luck with the shop.
>Your comments indicate that you are either >a) ignorant >or >b) fishing for washed out loser traders and hooking >them on chasing their dream in a different flavor. I'll pick "b". JB