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There are one or two firms i know that pay out 95-100%..... If you're experienced and profitable the 80% is the norm ..... If you're doing crazy size and bp the bigger firms pay anywhere from 25-50% however they're letting you swing an 8 digit line. If you're trading around 100k a day then...

Bottom line is that if you're a beginning trader without a good education or a connection it is impossible to make a living right off the bat. It's essential to either have savings or another source of income b/c it will be atleast a year until you start making a living. A stress the word...

WTS does take deposits

Don..... I thought that you guys have a 25K minimum, how is that not using the traders deposit? Can a trader deposit an amount less than that?

Thanks alot for the in depth explanation. So what you're saying is that the B/D is allowed to lock up the initial deposit for up to a year but in the end it's their choice whether to do so or not. And that the CBSX actually has nothing to do with this decision, but the prop firm is solely...

I know plenty of people that were not licensed and traded a 4 to 1 account as a recognized professional trader, meaning required to keep 25K min in the account at all times, that were able to take every penny out of their account if they wanted. When you say subject to a 1 year hold does that...

So in a situation where a trader puts up 100k to open an account and decides to stop trading after a week, that trader's money can't be retrieved from the firm for a year? And what would happen should the trader decide to contribute additional capital to the account, is that money also locked...

Out of curiousity I'd like to know how many people trade their own capital and are required to give a chunk of their profits to the firm they are trading with. Also, what percent of your profits does the firm keep? Does the firm provide anything aside from leverage?

I've had a few traders contact me on the forum lately that have asked me about their money being "locked up" with their current firms. Most of the guys experiencing this have not been trading in New York. I've been trading for a while and have only first heard of this practice in the last...

I'm just reading what was written in these posts but something really doesn't make sense to me. Over the last 15 years you were profitable but you only trade 3k shares a day? That means that over the past 15 years you've never sized up? When I started many years ago I traded 200 share lots...

Bird, If you are only putting on 3000 shares a day then I think you will have a lot of trouble finding a firm. I'm assuming that you are a day trader and not an investor, if I'm wrong please correct me. No firm will get behind you trading 3K shares a day. I believe you in what you are...

Bird, To be honest, it completely depends on how much money you've made. While making money for 10 years is great, at the same time if the amount isn't substantial it might be hard for you to find a taker. Most firms use the commissions as a buffer, that way if you lose say 10k your first...

Bird, Whoever you spoke to is wrong, firms either back their traders or they don't. I have never in my trading career heard of a 50% split on losses. Firms either take a training fee or risk capital (both are the same thing) or back their guys. Any money you hand over to the firm is no...

The guy whose number is listed is named Elie Mellul.... I would suggest doing some research and looking him up on the www.finra.org website

All that happens if the clearing house is a software provider is that the software comes free since you're clearing thru them. For example, as long as you're licensed Assent acts as both a clearing house and execution provider in one. When you use a stand alone and a clearing house that is...

My stuff is a little bit different b/c I don't only day trade. I use sterling and laser to day trade one is automated the other is not. I also use Redi and clear GS but it's expensive b/c I'm paying for information mostly, but that's much more of a swing trading and long term. Two of the...

Out of curiousity, I'd like to know how much the training courses are and what the standard comission is for a beginner there. Thanks.

Mews.... I said you shouldn't trade thru a B/D that doesn't self clear IF YOU'RE TRADING YOUR OWN MONEY. If a firm is backing you, like Schon then it doesn't matter b/c they're putting up the money so they should profit on you. No matter how you cut it your commissions will be better...

You're misunderstanding me..... There are a ton of NO CAP UP firms that will let you come on, you just will have to build up a bank before they let you sling around big size. But at the beginning making money comes before putting on big positions anyway. Like I was saying, I'm not going to...

All of those shops are excellent, First New York probably being the best for new guys, the only thing is that alot of those shops have brought in big traders from Investments banks so it's a little harder now than before if you're an experienced guy fighting for a seat. There are alot of...