Experienced trader looking for new prop firm

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Quote from Mike805:

Your statement implies that one doesn't get a K-1 with a CBSX firm? That doesn't sound right....

In any case I think it would be wise for Echo to start taking S56 traders. I'm surprised they haven't done so...
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Then I stand corrected....
Echo and Bright require S7....
I had read in one of the posts on this site that a firm can't accept both it has to be either, or...
 
Quote from dealmaker:

I had read in one of the posts on this site that a firm can't accept both it has to be either, or...
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I think Hold Brothers accepts both, not 100% sure though.
 
Quote from snooptrdr:

i think you may be one decimal off, my guess is he pays appx $1,000 per day.
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Wait ! I think we are both wrong.
At 2 cents per 1000, isn't that only $10 per day ?
 
Quote from Mike805:

Lots of these guys sit on the bid/ask with size using specialized routes.
Its a form of rebate trading using a route that allows fill priority.
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Interesting. So what's their average win amount per share ... a penny or two ?
What's their stop loss ? Even ?
IOW, they sit there for x seconds, and if not filled, then they pull the order.
And when they get filled long, they put in 2 stops - one at the entry price and the other 2 pennies north of the entry price ?

So with this strategy, I can't see anyone making more than a quarter to half-penny on the average. Still, thats $1200-$2500 per day...not bad.
 
Quote from syswizard:

Wait ! I think we are both wrong.
At 2 cents per 1000, isn't that only $10 per day ?
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i think you just went an extra decimal place the other way.
 
Quote from snooptrdr:

i think you just went an extra decimal place the other way.
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I think the problem is: I don't recall his rate. Is it around 20 cents per 1000 then ? In that case, it's $100 per day.
BTW: I think that's about the lowest of the lowest rate you can get, correct ?
 
Quote from syswizard:

I think the problem is: I don't recall his rate. Is it around 20 cents per 1000 then ? In that case, it's $100 per day.
BTW: I think that's about the lowest of the lowest rate you can get, correct ?
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sounded like he (scottsam) paid $2 per 1000 shares or .2 cents per share which is the same as .002 per share.

20 cents per 1000 shares would be .0002 per share. (yes this is a very low rate but comes with a profit split)


$10,000 per day on 500,000 shares would be 2 cents per share.
 
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