ASSENT - got this offer... are there better out there?

Anaconda · Dec 2, 2009

Quote from KING_HARDCASTLE:

I'm really considering just trading remote and not in office (although this assent office has about 30 very good traders there).

Something is not clear.

Who is offering you the deal? Assent or the sub-LLC of the 30 traders at Assent. I'm assuming that Assent still allows a group of traders to form groups under which they hire and get overrides.

Because the reality is that unless you are part of the LLC of the 30 super duper traders, you are not exactly sitting with them. Any solid group gets their own space and keeps outsiders out.

If the deal is with the super duper trader LLC then it makes sense after some tweaking. If this is a direct with Assent deal, it's not that good for an experienced trader. You can find better.

Midas · Dec 2, 2009

Quote from snooptrdr:

my guess is econometrics is 'assuming' the software rebate per a certain volume level, thus zero cost. (i think 200k shares a month is the req, could be more ...anyone know?)

if you notice on these boards, Echo and Bright have the best reputations. Echo's deal seems best suited for scalpers and Bright's deal may be a better fit for pairs traders.

bottom line, they are both honest firms. (one less thing to worry about)

What is the haircut on overnight leverage?

piggie2000 · Dec 2, 2009

his chart makes no sense. the most important fact for the prop firm is your vol. thats bs some type of commission based on what deposit you put down.bottom line anyone trading 1-2 mil shares should not be paying more than $2.50/1000 with 10-20k down and min 20-1 leverage.remember many of these prop house are paying sub $1/1000 and are making a fortune on your trading. drive a hard bargain and if the prop house balks shop around theres a ton out there

Clubber Lang · Dec 2, 2009

Quote from piggie2000:

remember many of these prop house are paying sub $1/1000 and are making a fortune on your trading. drive a hard bargain and if the prop house balks shop around theres a ton out there

People on ET always claim there's these great per share deals out there, yet no one ever says where they are.

Tell me where I can pay sub .002 per share with full add/remove ECN fees on a FAST and STABLE platform and I will let you take an override on my commissions every month for a year (which will add up to a substantial amount of money).

I will fund a 7 figure retail account, so prop leverage isn't necessary (obviously I want a full 100% payout since I'm putting up all my own money).

Thanks.

limitupmike2 · Dec 2, 2009

seriously if you have 5k only then you are not even clsoe to needing 200k to 500k buying power especially if you claim to hold overnight occassionally. You will have blown yourself out of this game before i even finish typing this !

syswizard · Dec 3, 2009

Quote from bro59:

.035 at Hold for me.
This per share fee issue is getting tired. It costs nothing to clear trades.

Interesting comment. When I heard that Keystone had an institutional rate of .0025, it opened my eyes and I saw how profitable these prop firms could become !
I mean, WOW, that's a whopping margin....for any business.

successtrading · Dec 3, 2009

Keystone is becoming a serious player.

They are now offering a 12 months 'training' program.

Other paid trainings are starting to look like a joke. One has to love capitalism.

snooptrdr · Dec 3, 2009

Quote from Midas:

What is the haircut on overnight leverage?

I'm with neither so i can't answer, but I do know Bright pays interest on short positions. works out well for their stat arb guys.

SethArb · Dec 3, 2009

ask your prop firm if they teach you this method

of course if you can figure out the riddle here

you prob can outtrade most of their best traders

and deserve the best payout etc

http://ecx.images-amazon.com/images/I/51vnxMWiIpL._SL500_AA240_.jpg

robbie380 · Dec 3, 2009

Quote from KING_HARDCASTLE:

I'd rather not say the location b/c I'm still with my current place of business. I've traded for 2.5yrs at a prop place that has a good rep (they take 50% profits but i pay for absolutely nothing)

They won't train me AT ALL at this place. I'd be sitting near traders that are very good. They won't train me but I could possibly over hear some stuff or befriend/pick their brains down the line. That is like icing on the cake if they do that though... i'm 100% focused on my own trading and making it on my own and not trying to rely on others (though it would be nice and i'm definitley not opposed to it).

May I ask why you left assent? where are you at now?

lol so you are in austin