how is my new prop firm?

all deals are negotiable
If you can't get what you want. move on to a firm that will meet your needs.
prop firms are going to be more competitive then ever to get traders these days
 
Quote from masterwoo:

Hi, I am now trade remotely with a prop firm. I get the deal like this:


5k deposit, 100k BP, but they only give me 50k right now.
commission 0.004 per 1000 shares
Ecn fee pass through to me, around 0.0029 per 1000 shares
100 payout
laser platform
$130 platform fee per month plus market data fee which is around $100


So I trade around 20k share the first day, I was gross up $71 dollar, but I end up loss $81, because the clearing fee is 0.004 X 20K, plus ecn fee 0.0029 X 20K, which the total fee is around $152, not including the sec tax....


How is this deal, guys?
More...

there is nothing wrong with the deal itself. just that you are stupid enough to churn your tiny account with small tickets.
 
you guys are so rude man,

no wonder ET gets such a bad name.

What did the guy do?, He only wanted some advice on wether his deal was good. Just because you are failed traders don't mean he will fail.

Lescor started with just $40k and his account went as low as $15k at one point yet with prop leverage he consistantly makes six figures yearly all starting from that 15k.

Prop leverage does not mean more risk if you know what you are doing.


Give the guy a break
 
Maybe I really should choose the 0.001 rate firm, I trade 40k share today and made $348 gross, most will be cosumed by the conmission:(
 
Quote from masterwoo:

Maybe I really should choose the 0.001 rate firm, I trade 40k share today and made $348 gross, most will be cosumed by the conmission:(
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yes you made 348, but you traded 40,000 shares!

This means you are up like .15 cents on 20,000 shares. In other words you made 15 cents after all the trades. You need to make more at the end of the day, and trade LESS.

If your only going to make .20 cents then you buy 1,000 shares and make .20 cents and you get out. you are up $200 on 2,000 shares traded- you make like lets say 180. (one trade)

Not all trades make .20 cents. But you should take +4, +10, +17, +1. It adds up. Trade less

When you start putting 0 0 -1 -1 -5 into your account you eat it up


Try and trade less, and try and take one penny gains instead of losses, and take one penny gains instead of 0 or flat trades. trade less!!

---Going to .001 is not going to help, they are going to take some way else. Your deal is fair------
 
Quote from Petrobras:

yes you made 348, but you traded 40,000 shares!

This means you are up like .15 cents on 20,000 shares. In other words you made 15 cents after all the trades. You need to make more at the end of the day, and trade LESS.

If your only going to make .20 cents then you buy 1,000 shares and make .20 cents and you get out. you are up $200 on 2,000 shares traded- you make like lets say 180. (one trade)

Not all trades make .20 cents. But you should take +4, +10, +17, +1. It adds up. Trade less

When you start putting 0 0 -1 -1 -5 into your account you eat it up


Try and trade less, and try and take one penny gains instead of losses, and take one penny gains instead of 0 or flat trades. trade less!!

---Going to .001 is not going to help, they are going to take some way else. Your deal is fair------
More...


Thanks for the reply, I agree with you, I think I traded too much, tried to catch every move in the market, actually if I only catch 3-5 moves per day with big position, I can make much more and use much less tickets.
 
There are only 1 - 3 golden setups a day and some days none at all. The commission structure isnt the issue. Your overtrading. Be more selective in your trades. As you learn what setups represent better opportunities you can then bet more accordingly.
 
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