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yea it's called f*cking the customer just like a specialist does to us all day. if you're in that position, how much brains does it take to do that? middlemen all have an unfair advantage, whether a local, specialist, marketmaker, all the same to varying degrees. Why are you guys glorifying...

when will you have basket/batch/portfolio testing capability?

if you're trying to rag on the academics upstair, please quit glorifying market makers on the floor. they're just 2 shades better than specialists and I hope we're all in agreement on them. If you could pick from 100 people with below average intelligence and 100 people with 130+IQ to trade...

I don't think that's the point. the point is you've gotta have a solid background in that at the least, especially if you're going to be trading derivatives.

look, prop trading firms like caliber lynx bright make money by charging a spread off their costs. in addition some charge desk fees and other stuff. overall for beginning traders they're probably decent places because in return for paying them they'll teach you how to trade certain...

Stuckey have you been smoking too much crack at Princeton?!?!?! Or are you recruiting for Lynx and Worldco?? Graduating from Princeton, and turning down a real Street Job to go to Andover or Worldco??? This is too funny. If you had at least said you were thinking about FNY or Schony...

most secured prop are VAPMIRES, by definition because they dont take any of your downside, the the bulk of their income comes from your commissions. Then only good prop shops are those who have a vested interest in you doing well trading, ie: they make the bulk of their profits off your NET...

Ok, you might be right, I havent been in that game for a while now. But the point is, you will get lower rates dealing directly with Assent than through a middleman like Lynx or whoever.

Back it up? Lynx will bitch and moan and say they're doing you such a favor giving you .0075 nyse all in if you're doing 2mm/month maybe, for most new people they charge .009. THEY'RE MIDDLEMEN, meanwhile, you can go DIRECT to Assent and get .0045 for the same volume, so Lyns is pocketing .003...

you are so outta your league. there are guys at some shops making $20 million a year, they're doing it as real prop, trading fund money. you should really ask yourself why you're in the situation you are (doing secured prop) it's the worst deal out there. if you're really good you're not at...

Awesome reply! yes, prop firms make money off of sheep. anyone who's really good is either trading for themselves or trading for a real firm where they do not have any downside. "secured prop" is the biggest scam going on in the industry right now. they make money off your commissions...

What makes you think i'm pitching A/A? I don't promote for anyone and if you read my past posts you wouldn't be saying this. besides, Andover doesn't offer anything where you can trade and not put up any capital and take zero downside. Frankly, I don't think the place you're at does either...

there are good deals out there. you can read my past posts for places if you're just looking for dirt cheap tickets. yes, you can get .004 all in NYSE and .012 bullets with good tech/systems/leverage/environment/etc. If you're really making over 20k/month consistently and not nasdaq scalping...

dunno, why do people want to get jobs at Goldman Sachs, Lehman, Merrill, Salomon, when they're downsizing???

cornerhole, I agree exactly. so many dopes falling for that 'prop' deal. it's not a deal, it's a desperation move. how they call that 'proprietary trading' is beyond me! proprietary means you're trading the house money and you do not take any personal downside risk. I'm shocked at how many...

Brandon, could you please post your pnl or provide us account statements?

re: 500K the 2nd yr, i'm quoting TraderJimR. I think he's smoking something. it's definately a negative sum game right now. extremely negative after commissions. the only guy making money now is the house. if they wise up before the game really dies, then hopefully commissions will get...

agree. imho, don's percentages are extremely optimistic. gross positive maybe 50% in first year, NET POSITIVE, in this market environment, probably close to 2% in their first year. it's a negative sum game right now (short term trading). unless commissions come down, it's a significant hurdle...

The FRIMS are benefitting from those type of traders. And there are many firms (LLC's, prop groups) in existence now which cater and cultivate those types of traders. There are plenty of traders in that exact situation: Writing tons of tickets producing significant commission and override...