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For CBSX traders, the series 56 is a bitch. I know. I took it. The passperfect guide was okay but it going into too much detail about simple stuff. I wonder if it's a "our study guide is twice as thorough" marketing deal. Anyway, for those interested in cutting through a lot of the grunt...

I think it'd be cool to make a thread with free resources for training for the new traders on here, since it seems there is difficulty in obtaining quality trading. I was always taught the best way to learn something is to go out and do it, so here are some free resources you can start with...

lots of good reasons to join a prop. rates, leverage, less capital needs to be tied up. it's an economies of scale industry. The firm i'm with is doing 4billion shares a month and so transaction costs are ridiculously low. I know people paying 25 cents per 1k shares on high volume low priced...

eventually all the exchanges will offer a premium (pro) subscription for those that need the most reliable data. It takes a very serious investment in infrastructure to provide real-time quotes when demand is growing. I suspect they will all have prop/professional fees for those that use...

you should check out some prop firms, most of them have more of an investment in technology than any single trader could make. this is where the economies of scale pay off over in the prop world.

I totally agree but I think we're both on the same page here that we're trying to dis-spell the myth that training is worthless & all traders lose. That's not the case at all. Anyone interested can PM me and come by the firm I trade with in NYC and see for yourself. All traders are skeptics by...

I don't know the names of who did the training but he did start at Broad St. I don't trade with them but I know of a few traders that came from / went to Broad St.

It totally depends on your wife's agreement with the firm. Some firms will only employ if she agrees that no member of her household can hold an outside brokerage account. You have to check what the guidelines are for her. You can't trade prop under LLCs anymore. It's all SEC registration and...

Hey Don, Here's a good story for some inspiration for new traders: A new scalper at Broad St. (funny enough that the thread is about them) that went through their scalping program got the firm thrown a route that will rename nameless (don't want to give away who it is) He took home over 6...

This is true. To get a fully-backed trading contract, you're going to have to convince a firm/individual that your strategy is successful. Usually, they want verifiable PnL statements and not some demo account performance or paper trading. Only live performance is taken into account. The days of...

I'd like to chime in. Nowadays, firms are structured largely around strategies (Bright around pairs trading from what I understand, WTS for high-frequency, etc. ) A lot of firms have profitable strategies but it's really up to the trade to implement it correctly in the market. The problem is...

$1 seems low for 1k if it's not HFT. I think $2-$3 is probably the going rate for 1m shares discretionary style. Of course other things matter like the amount of leverage you're going to want, data, software, analytical tools, etc. You can expect to pay a little more if you're seeking leverage...

Don, I do the same with auto insurance but that's because they're always willing to give new customers a better deal than existing ones renewing their policy.

I'm pretty sure you can code the bar into e-signal and then just execute with sterling. (you'd need e-signal 10.6 not 11)

You aren't missing much. The firm makes money off commissions. When you buy 100 shares of IBM for example, you pay a commission. Part of that goes to Broad St and part is to the clearing firm. The SEC has some fees as well as some taxes and other charges by regulatory and government bodies...

I've dealt with Broad St. in the past but am under the impression they are no longer taking traders under their CBSX license.

this is exactly the point. Nobody successful is going to want to spread their around their strategy. That's the equivalent to Coca Cola selling their recipe. As far as trading goes, a firm probably can help guide you through the learning process and accelerate the learning curve because most...

Most firms that will train you use their own internal strategy that is unique and a combination of clearing/customer/software setup. The problem is that most of these types of firms will train you with a strategy you can't use much outside of that firm. This is what happened to scalpers. Now...

Here's my 2 cents, in case anyone is interested. A lot of traders are in this business as opposed to banking or consulting because of the independence it grants. Because of that, it attracts a lot of entrepreneurial types that want to risk their capital. They generally work to achieve financial...

Israel also has great infrastructure but the problem is their taxes are progressive as well.