first day with a prop firm, owned by commissions

[bearmace]

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

lol I was in the red in the morning and worked my way back to even later

 

[jb3398]

lol I was in the red in the morning and worked my way back to even later

When I traded prop I also did large volume. However I had the firm which use to be BSI ran by Angelo set up flat rates. I was paying $30 per trade round trip, plus software fees. That worked out a lot better, because like yourself I would buy 7K lots at a time and trail after .05.

Set a realistic goal with $60 in BP set a daily goal between $200-250. Which should bring you in the neighborhood of $48K - $52K annually. Of course the preceding applies to intra-day trading on Margin.

 

[ScalperJoe]

When I contacted JC a few weeks ago, they offered me .005 per share commission. Is this standard?? Also, could you explain how the commission rate for the take and ECN fees work with JC? Thanks in advance!

There is no "standard" rate with prop firms, it depends on what you negotiate.

Like others have posted, definitely go with a registered firm, whether it's WTS/JC or any other legit firm mentioned on these boards.

 

[trade62]

I'm 3 years into trading and only a CPT for past 4 months. I blew up big before I figured out risk management is rule #1, #2 and #3. I am also new to the board and may not be getting the full picture. But it looks like everyone is trading big volume against algos and hfts. WHY? I am very confused? Why trade 100k+ shares trying to scalp pennies against the HFTs while letting the firms take all your profits thru numerous volume fees? Today I game-planned for 12 equities. Two of them hit...TSLA and IBB. I did 5 option roundtrips and 4 equity RTs at 100 shares each and grossed $1953.

Please know that I am not being critical......I am relatively new and trying to figure it out.