first day with a prop firm, owned by commissions
- Thread starter bearmace
- Start date
damn you commission!
comms are not your only issue, but you seem to remove liquidity only... there are ways to reduce that and even make a rebate... learn your routes... also... your comms at that prop are higher than IBKR..
https://www.interactivebrokers.com/en/index.php?f=commission&p=stocks1
I guess it is true what someone said the other day... your edge is not just the setup, but the rates you pay, the routes you have access to, and the tools you use...
honestly I know how to trade but dont know much about the inner workings of trade processing... how do I make a rebate on removing liquidity? do I have to do limit orders only?
and yea the only reason i'm with a prop firm is for the leverage
ask G6 for a list of ECN and their Fees.... it should look something like this..
then program those on your platform for default actions... depending on the action and if the venue has the liquidity for the issue you are trading..
ask G6 for a list of ECN and their Fees.... it should look something like this..
then program those on your platform for default actions... depending on the action and if the venue has the liquidity for the issue you are trading..
Thats what they say about scalping...only the brokers win and ECN routes win.
This prop firms is likely providing him with a multiple of the leverage that a retail account would offer him. I assume he would only qualify for a Reg-T account on his own. NOt a fair comparison unless he can get portfolio margin.
damn you commission!
I assume you joined a prop firm that uses your capital toward their trading capital. If you did, you're stuck there for 365 days. Make the best of this firm and look for more vig in your trades or take liquidity through dark pools. Maybe try adding only and see how you do.
1245
damn you commission!
If your doing over 100k shares a day, and you are being charged .004 per share. You better go to them and tell them to cut your cost down. You can get a much better rate anywhere else with the type of volume you do. I am stating this fact only if you were to trade like this most of the time.
You should be getting the highest .002 per share maybe .0025.
Also your ECN's are killing you. I am not sure if you are always entering the market at notice, but if you are not and you have orders out, make sure you add liquidity to eliminate alot of your ecns. Or ask if they have any free ones.
damn you commission!
How about keeping the trades open for an extra cent or 2?
- 80,400 shares * 1 cent = $804.00
- 80,400 shares * 2 cents = $1608.00
- 80,400 shares * 3 cents = $2412.00