But they're telling me that arca does not offer rebates anymore. But everyone I talk to says thats not true... I don't know what the heck is goin on.
Are these rates out of line?
- Thread starter deek
- Start date
Quote from Scalper007:
No, I have not been trading for 5 years. That was the guy who started this thread. I am a different guy. I agree, I have to take a stand soon. Because its already hard enough that I have to struggle with the market all day and then when its all done, I look at the statements and it says I made 500 but 300 are fees
...I wish they had a crying emoticon here...
Yeah, and you're probably making them a nice 60k a year. And I'm sure they expect you to thank them for it. Welcome to the business. The thing is, most of what you were taught was probably pretty limited and becoming ineffective. Probably time to trade way less, read more, and teach yourself. You never really learn anyway until you have all the responsibility for your success firmly on your shoulders (and that means taking away your right to blame them. You can blame them now because you're an indentured servant, but you'll never get anywhere until you know you can ONLY blame yourself. That means ensuring you get the fairest cut you deserve).
I have a suspicion that most seasoned prop traders know who they are through word of mouth, but no newb ever comes to ET before signing up. They probably only hear about the firm after a year of stewing in their own frustration and venting on ET
Remember, this is your business, your career, and your life...take control of it. Call Arca yourself (BTW, they do pay for liquidity, FWIW)....
Commissions vary, overall costs vary, but even if you are "working" for someone, doesn't mean you don't have basic rights.
Don