Well if you lose money because of commissions and fees arenât you trading the wrong style for that trading deal? Why would Omni give there software for fee wonât they lose money. If might be free but I am curious how you came to that answer and if its truly free i want to know. Do they make up the cost in volume haha. Maybe the trading firm gave it to you and eats the cost. I donât understand what you are saying in some of you statements. I will say Echo software is more stable then Omni software. Echo charges around 400 a month for the software but if you trade over a certain volume they give it to you for free that month. You canât base a deal of software fees because commission is very important too.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
HLV Trading
- Thread starter joeyc
- Start date
Well if you lose money because of commissions and fees arenât you trading the wrong style for that trading deal? Why would Omni give there software for fee wonât they lose money. If might be free but I am curious how you came to that answer and if its truly free i want to know. Do they make up the cost in volume haha. Maybe the trading firm gave it to you and eats the cost. I donât understand what you are saying in some of you statements. I will say Echo software is more stable then Omni software. Echo charges around 400 a month for the software but if you trade over a certain volume they give it to you for free that month. You canât base a deal of software fees because commission is very important too.
I was under the impression the exchanges charges for data, like the CME- for emini quotes.. Which is on omni pro. NYSE does the same.. so how can the trading plateform be truly free?
Penson give Omini Pro if you are a B/D...hello.
hello...
I read thru your respond and realized that you do not have a lot of legal knowledge about the industry..that is understandable...
10k is only commission ALONE from the adding up of the commission and fee...I have been trading for more than 10 yrs and still trading 100 shrs so I so do not have a lot of loss...the lost is segregated from that 10 K commission/software fee when I do the calculations..
Elitetrader give us a freedom to share our experience...and I hope that you can avoid those traps when you sign up with those firm...it is your money..you do whatever you can and I hope that you can avoid those charges..
As soon you talk to the firm directly and make deal...you can avoid OVERRIDE commission from people claiming to be manager...but if you want to pay those fee..it is up to you...
Of course...I have the rights to share my view for IB later....if trader see it is acceptable..and then traders could sign up for that...
I am here to give you inside tip..either you take it or not..it is up to you and please do not get sensitives about that...
I read thru your respond and realized that you do not have a lot of legal knowledge about the industry..that is understandable...
10k is only commission ALONE from the adding up of the commission and fee...I have been trading for more than 10 yrs and still trading 100 shrs so I so do not have a lot of loss...the lost is segregated from that 10 K commission/software fee when I do the calculations..
Elitetrader give us a freedom to share our experience...and I hope that you can avoid those traps when you sign up with those firm...it is your money..you do whatever you can and I hope that you can avoid those charges..
As soon you talk to the firm directly and make deal...you can avoid OVERRIDE commission from people claiming to be manager...but if you want to pay those fee..it is up to you...
Of course...I have the rights to share my view for IB later....if trader see it is acceptable..and then traders could sign up for that...
I am here to give you inside tip..either you take it or not..it is up to you and please do not get sensitives about that...
Quote from traderNik:
isn't the commission you generate a part of your trading style?
With regard to fees, if you are saying that your strategy worked as planned but that the fees you incurred were too high and that your trading gains could not offset your fees, whose fault is that? What does that have to do with the firms you were trading with? Earlier, you were saying that you thought the CEO, who you called 'Charlie', could not be trusted, that you didn't think people should allow their money to sit in 'Charlie's account'. Which one is it? What exactly is your complaint? It seems to be changing with every post you make.
You seem to have had problems at three prop shops. Who are you trading with now? Penson clears trades for people, I know that - you mentioned that you are trading with IB now. What is happening? I am sure you are going to be having big problems at IB soon enough, and that you will be posting here to tell us how bad they are.
You lost a lot of money at trading (a lot more than 10K). Someone else here pointed out that you lack what in my mind is the most important quality for a trader - the ability to take responsibility for the outcomes he creates. You started trading and as a result of the decisions you made, you lost money. The only way you could claim otherwise is if someone actually came along and took money out of your account or if you found out that you were trading at i.e. a forex shop and that they were feeding you quotes that were totally bogus and then giving you fills and stopping you out based on their own in house quotes - and even in this case you could not blame them if there is fine print in the contract you signed which allows them to do this. That would again be - all your own fault.
This is a complete load of crap. You are here to tell us how bad these firms are and how your trading losses are their fault and how they can't be trusted and how they bounce cheques, not to try to educate people about making the best deal they can. Why did you mention anything about the CEO and his bank accounts if this was your intention?
You will lose money trading at IB or through Penson or wherever because you can't take responsibility for your own actions.
BTW... don't try online poker
Quote from NYstocktrader00:
hello...
I read thru your respond and really that you do not have a lot of legal knowledge about the industry..that is undertandable...
10k is only commission ALONE from the adding up of the commission and free...I have been trading for more than 10 yrs and still trading 100 shrs so I so do not have a lot of loss...the lost is segerated from that 10 K commission/software fee when I do the caculations..
Elitetrader give us a freedom to share our experience...and I hope that you can avoid those traps when you sign up with those firm...it is your money..you do whatever you can and I hope that you can avoid those charges..
As soon you talk to the firm directly and make deal...you can avoid OVERRIDE commission from people claiming to be manager...but if you want to pay those fee..it is up to you...
Of course...I have the rights to share my view fo IB later....if trader see it is acceptable..and then traders could sign up for that...
I am here to give you inside tip..either you take it or not..it is up to you and please do not get sensative about that...
You have failed to address a single point in my post. The reason for that is that there is nothing you can say to defend yourself. Now that people are calling you on your BS you are backing off and trying to say that all of this has been in order to educate others. Unfortunately you cannot go back and delete your first posts on this thread, where you are screaming about how everyone ripped you off.
You have been caught out. You should go away, get a new screen name and next time you post here, try to think things through before posting after a big losing week - you can see the results of that.
Your credibility is shot under your current screen name. No matter what you post, people will always associate you with these whining, whinging crying posts which scream POOR ME - HELP ME.
And btw.... take responsibility for your own mistakes. Your losses are your fault, not the fault of 'Charlie', your broker, the prop firm, the floor traders, your data service provider, Echo, MB, your relatives, FlyingHigh, me, NASA, UNICEF, Pamela Anderson or your dog.
Out.
Every traders had losses...Can you be honest for one min and said that you do not
Yes...I had a lot of losses and and continue to have losses in my trading..that is part of the business...but at least I do not want to make the same mistake everyday dealing with brokage firms..
Once again, if you have a lot of money to burn..it is up to you...and please do not get sensetives about that....
Yes...I had a lot of losses and and continue to have losses in my trading..that is part of the business...but at least I do not want to make the same mistake everyday dealing with brokage firms..
Once again, if you have a lot of money to burn..it is up to you...and please do not get sensetives about that....
You are coming off very dumb and it has nothing to do with your poor English either. The Omni Pro is not free from Omni somebody is picking up the cost somewhere. If you had been trading 10 years and your only doing 100 share lots maybe this is the wrong field for you. I donât think you have a good understanding of the law or the securities regulations. Itâs retarded to even explain it to you again and again. If I pay 1/3 of the commission you pay at the firm you trade at now and do more volume then you do you think I am going to worry about the 125 software fee. I donât even know how you can compare IB to Echo or HLV. I do think Echo is the best of the 3 but I donât think IB can complete with HLV rates. Its sad because I donât even care to defend HLV this is more of you not understand the business. I saw you bitching about Echo before too well isnât it your fault going to a middle man. I donât even think your deal was that bad. 1k a month in feeâs for charts and commissions seem fare for a guy trading 10 years and only trading 100k in volume. Thatâs like 6/10 commission rate and 400 for the software. You have to learn how to evolve as a trader and do more volume and make more money. If you do more volume the rates go down and the software becomes free too. Trading is not a charity business and you have to bring something to the table for them to sweeten the pot.
Quote from NYstocktrader00:
Every traders had losses...Can you be honest for one min and said that you do not
Yes...I had a lot of losses and and continue to have losses in my trading
No you're just a loser, period. That much is obvious from your posts. You do not even have a clue of what is like to be truly ripped off by a prop firm or a shady LLC so stop crying.
Omni Pro is solid, it is the only software in the NYC prop industry that trades equities options and futures. For equities it has almost every route possible, a key reason why I wanted to use it.Omni Pro has its own support group from Nexa Technologies that even takes requests to pass to their programmers for the next update. No firm can offer it free of charge unless you meet some kind of volume quota. Guess what, if you come in and trade only one day of the month, the B/D still has to pay the monthly fee.
As for your lame "bounced check" story, that happened like once and was fixed quickly. Charlie is loaded, he does not need to scam people for a couple grand.
Quote from NYstocktrader00:
I WENT TO THE OFFICE IN NY FOR INTERVIEW...HOW CAN YOU TRADE LU AND MAKE A LIVING? ONE WEEK TRANNING WITH FEE FOR EMPLOYEE? LYING TO PEOPLE ABOUT NO DEPOSIT?
I DO MORE RESEARCH AND FIND OUT CHARLIE WAS A FORMER CEO OF F1 TRADING..LOOK AT THE FEEDBACK ON F1 TRADING AND FIND OUT FOR YOURSELF. COMMISSION IS EXPENSIVE/ OMINI PRO IS TERRIBLE..YOU CAN GET IT FOR FREE WITHOUT PAYING $125 A MONTH.
I just read that thread on "the real cost of being an equity prop trader"
you will find it informative and probably identify with the premis....
Quote from Hydroblunt:
No you're just a loser, period. That much is obvious from your posts. You do not even have a clue of what is like to be truly ripped off by a prop firm or a shady LLC so stop crying.
Gary Mednick and his crew of marmalukes that were at Onsite Trading.....
that's what it feels like to be ripped offf....
just too many of us who lost...
wonder why no one has brought it to his doorstep?