Deal for New trader

[Purple Barney]

Ok the firm is Echo and payout is 90% for option 1, 99% for option 2.

Again, i know there are better deals out there, probably always will be, but as a beginner, the most important thing to me right now is learning the craft, so as long as the deal isn't TOO bad, I am ok with it. So, is it too bad?

 

[DonCorleone]

Unless they offer a very high quality training program that no other firm offers, I'd look elsewhere. btw, which branch is this?

 

[Maverick74]

Quote from Purple Barney:

What is a good deal for a NEW trader? I have not traded prop before and this is the deal a reputable firm gave me, is it fair?

A choice of

0.007 cents
$2500 deposit
$65/month data feed/software
90% payout

OR

0.005 cents
$5000 deposit
$440/month data feed/software
99% payout

Remember this is for a brand new trader who is not expected to do alot of volume. And I am able to receive rebates if I do above a certain volume.

It blows me away that there are new traders starting out today that actually WANT to trade stocks. PT Barnum was right.

 

[Purple Barney]

Quote from Maverick74:

It blows me away that there are new traders starting out today that actually WANT to trade stocks. PT Barnum was right.

What do you mean?

 

[Maverick74]

Quote from Purple Barney:

What do you mean?

The stock game is over, especially for newbies. Nothing but auto-bots trading stocks. There was a time when trading stocks had a legitimate edge when bullets were around and tape reading was a valid strategy with listed stocks. But without either now, what is your edge?

 

[marketsurfer]

Quote from Maverick74:

The stock game is over, especially for newbies. Nothing but auto-bots trading stocks. There was a time when trading stocks had a legitimate edge when bullets were around and tape reading was a valid strategy with listed stocks. But without either now, what is your edge?

i think one could still eek out a living trading stock prop with the right information flow--- plus stocks still retain the edge over directional index future trading.

surf

 

[Maverick74]

Quote from marketsurfer:

i think one could still eek out a living trading prop with the right information flow.

surf

Surf, most of the money made in equities now is in PIPEs. There are guys that can eek out a living if they run an efficient auto-bot themselves. But they need to trade millions of shares a day and being paying rates about 1/10th of what this guy was offered. Sure, eeking out a living is possible. But why not be a public school teacher then? At least you get benefits, a pension and some job security. Who the hell wants to eek out a living trading? LOL.

 

[Purple Barney]

Quote from Maverick74:

The stock game is over, especially for newbies. Nothing but auto-bots trading stocks. There was a time when trading stocks had a legitimate edge when bullets were around and tape reading was a valid strategy with listed stocks. But without either now, what is your edge?

Do you mean scalping? Or trading stocks period? If its over, whats everone here at ET doing? What about swing, which is more what I am doing. Just curious, thanks.

 

[iloveoptions]

Quote from Maverick74:

Surf, most of the money made in equities now is in PIPEs. There are guys that can eek out a living if they run an efficient auto-bot themselves. But they need to trade millions of shares a day and being paying rates about 1/10th of what this guy was offered. Sure, eeking out a living is possible. But why not be a public school teacher then? At least you get benefits, a pension and some job security. Who the hell wants to eek out a living trading? LOL.

I think you're being too harsh on the new poster. Just because people have bots doesn't mean a determined person can't make a living trading stocks? While being a school teacher is a very noble profession, it may not be enough to meet his financial goals.

 

[Maverick74]

Quote from Purple Barney:

Do you mean scalping? Or trading stocks period? If its over, whats everyone here at ET doing? What about swing, which is more what I am doing. Just curious, thanks.

I have no idea what everyone here at ET is doing. That's a great question. LOL. I would venture a guess the percentage of ETers that are still trading stocks is probably at an all time low now and still dropping. I fail to see where the edge is in swing trading stocks. You are prone to all the risks of holding a stock overnight in the face of news or geopolitical risks.