Domestic Securities? Anyone here trade for them?

if you are getting 100% payout, then you are definitely trading with your own money at risk, they would go out of business if they operated that way. They are not going to give you their money to trade and then give you ALL the profits. The fees they generate would not make up for the losses and pay all the overhead.

Apparently some of them will give you their money to trade and then give you part of the profits. Also, being a w2 employee with benefits is not a bad thing at all. In fact if you have a family and need group health insurance it is an absolute blessing.
 
Putting up money and giving up half the profits? Sounds a bit weid to me. Although I can't let you in with $5K, if you were making any money at all, you would be paying them $5K a month just to be there (half of $10K).

Anyway, good luck, learn what you can. Trade listed stocks and make some money!!

Is this really Harvey's new venture? I like Harvey Houtkin (I'm one of the few who do, I think). He closed most or all of the AllTech retail offices after the bubble, and I was curious if he got into prop trading.

Let me know!!

Don
 
I hope this is a farging joke!

If they tell you to put up you own $ so you can add liquidity to their ecn your on the losing end.

When you use attn YOU are the last to get hit! When you finally get hit if you do, the pros run you over (unless you trad palm)!

If I get hit for 10K shares I know I will have to hold at least a 5 cent wiggle because a major buyer will only hot you as a last resort.

Yes this is harvey's new brain child, but he doesn't come to work.

TraderNYC maybe we will meet on the trading floor.
 
Big Don,

Do him....a big Don favor and let him open an account with his 5K. He'll lose it anyway trading for the attn rebate, just give him a chance. I beg you!
 
If you're already in NYC, why not just go to WorldCo? If you've been at SLK and have experience, Hitman will hire you with no capital requirement and a decent commission rate.
 
Originally posted by trader963
yea! work for the hitman!:cool::cool:

the two of you together>>>>:cool: :cool:
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Let me make it clear that I have no affiliation with Worldco.

I just figured putting $0 down and getting between 80-95% payout would be better than putting $5000 down and getting a 50% split.
 
Originally posted by uptik2000
good luck traderNYC....I just can't understand why anyone would want to give away half the profits that they work hard for.
what are they giving you for that? the use of their money? you can get that anywhere else and keep 95% or even 100% of your profits.
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because depending on one's trading style, it might be a better deal. high volume, low net traders might (depending on the rate) do better with per-execution fee structure and give up of half the profits. Under a per share rate, they might never be net positive so a 110% payout might be of no benefit.
 
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