I was recently offered an interview at T3 Capital, and from what i have found you are paid monthly and keep about 90% of what you make. Does anyone have any idea how much newer traders at places like T3 make monthly? Just wondering b/c i'd be doing this right out of college and don't know if i would be able to afford living in new york off the earnings lol
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Making money as a trader...how much?
- Thread starter MIK3707
- Start date
It depends on the firm.
Do they cap the amount of shares you can trade, for what time period (weeks, months?)?
Commissions??
Desk fees?
Upfront security deposit?? At 90% payout, it's probably at least 5k.
Etcetera.
After that, it depends on your skill as a trader. If you manage to make 5c/share net a day after all the fees, consider yourself a success.
Alternatively, if there is a security deposit of at least a thousand, you'd be better off trading mini futures in your own account. There's no much you're going to learn at a prop that you can't exceed learning on your own, besides, most of what they teach won't make you money, at least in my own experience.
Do they cap the amount of shares you can trade, for what time period (weeks, months?)?
Commissions??
Desk fees?
Upfront security deposit?? At 90% payout, it's probably at least 5k.
Etcetera.
After that, it depends on your skill as a trader. If you manage to make 5c/share net a day after all the fees, consider yourself a success.
Alternatively, if there is a security deposit of at least a thousand, you'd be better off trading mini futures in your own account. There's no much you're going to learn at a prop that you can't exceed learning on your own, besides, most of what they teach won't make you money, at least in my own experience.
Quote from MIK3707:
I was recently offered an interview at T3 Capital, and from what i have found you are paid monthly and keep about 90% of what you make. Does anyone have any idea how much newer traders at places like T3 make monthly? Just wondering b/c i'd be doing this right out of college and don't know if i would be able to afford living in new york off the earnings lol
It doesn't matter much which firm you choose, you won't make enough money AT LEAST the first 6 months to afford to live ANYwhere. Just focus on learning how to trade.
Take the offer. T3 is a good firm. You will learn much, but like what was said, not earn much at first. Some of the guys there, though, are now pulling down 4 and 5 figures a day fairly consistently. A suggestion would be to sit a day on their floor and see for yourself if they are right for you.