millenium brokerage

[fatman]

does anyone know anything about the prop trading department at millenium brokerage? i plan to meed the head trader there next week and would love any backround info available (i.e commissions, payout, salary, etc.)

Thanks

 

[showtime23]

They trade only NYSE stocks, the head guy is Robert. He claims that he has been profitable for the past two years or so. I saw him trade for about a week and he pulls in an avg of around 1500 to 2500 a day excluding cost (commission, bullets, etc.). Looks at specialist books. If you are a new trader, I would avoid because training is nonexistent and you have to be really, really proactive to get Robert to train you. Although, he is very willing, he never really follows through. They only have room for about 25 traders or so, all new equipment (Flat panel screens). 75% I think is the payout. Hope this helps

 

[fatman]

Quote from showtime23:

They trade only NYSE stocks, the head guy is Robert. He claims that he has been profitable for the past two years or so. I saw him trade for about a week and he pulls in an avg of around 1500 to 2500 a day excluding cost (commission, bullets, etc.). Looks at specialist books. If you are a new trader, I would avoid because training is nonexistent and you have to be really, really proactive to get Robert to train you. Although, he is very willing, he never really follows through. They only have room for about 25 traders or so, all new equipment (Flat panel screens). 75% I think is the payout. Hope this helps

Hey, thanks for the info. can you tell me anything about his trading style? How long does he hold positions? What is his typical share size? does he trade pairs/long/short? sectors? etc?

Also, do you know anything about thier commission structure (how much they charge you)? do they trade anything other that equities?

do you know how may traders they have there? do you think it is a good trading atmospher? do they provide bloomberg and/or a news feed?

Thanks so much and I am sorry to ask so many questions.