is scalping viable or just BS?

Quote from ScalperJoe:

fullblotter:

"no one pays even remotely close to that"

According to Don Bright at Bright Trading, an SEC registered FINRA firm, currently charges .007/share for 1k shares for traders who do 200k/month shares or less, and .003/share for higher volumes. (the reference to "rape" is uncalled for and disingenous).

Many CBSX registered firms are .003 to .004/share, so that's why I posted. Of course, that's if you're trading remote and providing your own capital, and payouts are 75-95% on up to 20x buying power. If they employ traders to trade firm capital, the fees could be much less.

"the fees are more like 20 cents a TICKET, so you could take a position with 1 million shares and pay 20 cents."

I don't know about Swift and Title, so I'll definitely check them out.

"other places with 80% payout have fees of 15-20 cents/1000 shares."

Team Trading (now defunct) did charge .02/cents/100 (20 cents per 1,000) before raising it to 50 cents per 1,000, so I agree with your sentence above. That was for props only, not individual traders providing their own capital contributions.

Care to post these firms with 80% payout and 15-20 cents/1000 share fees that are still in operation? Or if you prefer, send a PM.

Also, liquidity rebates and ECN pass throughs must be considered. All traders should conduct their own due diligence.
More...


World Trade Securities provides 80% payout with fees of 15-20 cents/1000 shares.

I stand by my statement that $7/1000 shares is a rape. no need to be overly sensitive of the term "rape", it's a trading term as far I'm concerned.
 
Quote from NY0BScalper:

I started at a place like that. I got beat pretty badly, but I learned how to trade, and was able to go off on my own to another firm and pay drastically reduced commissions, where I was able to make money.

If you can get trained how to make consistent gross p/l, even if the comms eat it up, that's okay because you can move on. This is a business where if you spend 6 months to a year not making money net-net but you learn how to trade, you're doing well.
More...

NY0B, what was the place? what was the commission cost per 1000?
 
oh, also, what about rebates? could the firm in actuality be making it's money on the rebates? rebates and commissions it charges maybe?
 
fullblotter quotes:

"World Trade Securities provides 80% payout with fees of 15-20 cents/1000 shares.

I stand by my statement that $7/1000 shares is a rape. no need to be overly sensitive of the term "rape", it's a trading term as far I'm concerned."

_________________________________________________

Thanks for the names: Swift, Title and World Trade are all Canadian firms, so I'll have to conduct a bit more research.

I understand your "rape" comment now, but fees aren't the only things to consider with a firm. The firm must also have a solid track record and not face undue scrutiny, such as the case with Team Trading, which is now facing a formal SEC inquiry.
 
Quote from di1836:

oh, also, what about rebates? could the firm in actuality be making it's money on the rebates? rebates and commissions it charges maybe?
More...

di1836:

most prop firms will pass through the liquidity rebates to the traders. this is different than retail firms, which make money on the rebates and also get paid for order flow.

your questions are valid, so why not just ask the firm itself?
 
Quote from di1836:

oh, also, what about rebates? could the firm in actuality be making it's money on the rebates? rebates and commissions it charges maybe?
More...

traders keep the rebates. at places like swift back in the day, traders could make 5 figures purely on rebates when the right symbol presented the opportunity.
 
You must log in or register to reply here.
Back
Top