which method most successful scalpers like Steve Tvardek and others prefer, 100% payout or % of profit ?
making the big bucks
- Thread starter FastandFurious
- Start date
High payout (95%+) and a rate ~.0025 is acceptable for my volume and how I trade.
Profit split, at least... maybe 80% that I have talked to, not sure about Steve_T, but I think he probably is as well since when he posts in blotter he gives us a different number than on his software, but not sure.
I'm at a profit-split, but at .68 cents per trade, there isn't any way your not going to be at a profit-split.
EDIT: he already answered
I'm at a profit-split, but at .68 cents per trade, there isn't any way your not going to be at a profit-split.
EDIT: he already answered
I am somehow confused.
I thought I can get .002 rate with 100% payout if I make huge volume, like 5 million a month, what confuses me is that steve says he would take 95% of profit and pays .0025
Am I missing something here ?
I thought I can get .002 rate with 100% payout if I make huge volume, like 5 million a month, what confuses me is that steve says he would take 95% of profit and pays .0025
Am I missing something here ?
I dont do anywhere near 5 million a month yet (2-3 million at most). Otherwise I could get a lower rate I'm sure.
Now things are clear for me, thanks Steve for having your input and thanks Jmowrey for the link you provided, good work man.
What one trader gets, might not specifically be what another trader gets. This is where negotiation, making a lot of money and proving it to your broker/firm, and doing volume come into play.
I know someone on here that does .0015 at Genesis and he does around 2 million shares, he didn't say what his % is, but I'm sure it's around 90% or more.
It all depends, that is why you go shopping. Trust me, I have done my work on finding the lowest commissions for myself.
Someone has told me that firms pay maybe 30 cents per per order, and I have heard others say they pay .00025 I think per share and all that.
It's really low, so, as you get lower, your either going to be doing more volume to allow the broker/firm to make money, or taking a profit split, in which case you might get rock bottom commissions.
EDIT: I'm slow... Good luck with the hunt though. Search for the best broker for you, and once you get the deal that is for you, stick with it.
A lot of firms nowadays do .001 at 80%. I have talked to A LOT of firms btw.
Here is one e-mail of a reply, with for what I said was 500,000 shares a month.
So, anything is possible. Competition is a good thing
Logically .002 at 90% or somewhere around there would have been an option for me as well.
But again, this is when I asked for around 500,000 shares per month, those of you that do more, might be able to get lower.
I didn't go with this firm btw, went with another which is why I'm at .68 per-execution.
Firms pay 30 cents (what someone has told me), or .00025 (someone posted that on ET of NYSE stocks per-share), so they are making money off of you anyways.
Which is why I try to encourage competition umungst firms because we can go lower in the future.
I know someone on here that does .0015 at Genesis and he does around 2 million shares, he didn't say what his % is, but I'm sure it's around 90% or more.
It all depends, that is why you go shopping. Trust me, I have done my work on finding the lowest commissions for myself.
Someone has told me that firms pay maybe 30 cents per per order, and I have heard others say they pay .00025 I think per share and all that.
It's really low, so, as you get lower, your either going to be doing more volume to allow the broker/firm to make money, or taking a profit split, in which case you might get rock bottom commissions.
EDIT: I'm slow... Good luck with the hunt though. Search for the best broker for you, and once you get the deal that is for you, stick with it.
A lot of firms nowadays do .001 at 80%. I have talked to A LOT of firms btw.
Here is one e-mail of a reply, with for what I said was 500,000 shares a month.
So, anything is possible. Competition is a good thing
Logically .002 at 90% or somewhere around there would have been an option for me as well.
But again, this is when I asked for around 500,000 shares per month, those of you that do more, might be able to get lower.
I didn't go with this firm btw, went with another which is why I'm at .68 per-execution.
Firms pay 30 cents (what someone has told me), or .00025 (someone posted that on ET of NYSE stocks per-share), so they are making money off of you anyways.
Which is why I try to encourage competition umungst firms because we can go lower in the future.