Have a question is the commisson 2 cents per share or 2 tenths of a penny per share??????????
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Need some input from proprietary traders
- Thread starter SWScapital
- Start date
Have a question is the commisson 2 cents per share or 2 tenths of a penny per share??????????
Part of the reason it is diificult to get backing without these ridiuculous $10000 payments is the idiotic statements here.
"play big"
"swing for the fences"
"no risk to you" etc etc etc
what about professional integrity and respect for just how diificult the business is. If these firms only hired people that they truly believe could make money they would not be in business.
"play big"
"swing for the fences"
"no risk to you" etc etc etc
what about professional integrity and respect for just how diificult the business is. If these firms only hired people that they truly believe could make money they would not be in business.
Quote from joeyata1:
how anyone can pay .0075 and put up 10k of there own money with anyone is beyond me. don you got to be kidding saying guys are paying .0075 putting up 10k of there own money. your rates were .0075 4 years ago. everyone else has cut there commissions in 1/2 and you're still at .0075. i take my hat off to you that you can still have good business with those commissions. 1 million shares at .0075 is $7500 vs 1 million shares at .0025 is $2500. thats 60k a year difference and impossible to overcome. don how many traders does bright have in offices and remote. i bet you have 300 or so at least. don in your opninion how many full time hard core day traders are in the country including prop at offices and remote. i'm thinking around 3000.
It seems to me that the point that you and others consistently miss about Bright is that he provides capital. Berating Bright about his commissions completely misses part of the picture. Now, what the proper cost of that capital "should be" can certainly be argued. Perhaps Brights cost of capital is "too high". If so joeyata, perhaps you and truthteller should get together and fund some traders yourself.
Disclosure: I don't trade at Bright, don't know Bright, trade my own capital and have for years, and don't know all the in's and out's of Bright. But why not have a little balance here in these threads? Capital is worth something.
OldTrader
That's true. I'm paying almost double the commission rate at my current firm than I could find elsewhere. But I don't haggle and I don't rock the boat because they give me massive leverage and let me do whatever I want and charge a very reasonable rate for it.
Sure I could save a few thousand a month in lower rates somewhere else, but it would cost me several thousand more in lost profit opportunity and higher carrying costs. The whole package is what matters.
Sure I could save a few thousand a month in lower rates somewhere else, but it would cost me several thousand more in lost profit opportunity and higher carrying costs. The whole package is what matters.
Quote from cstu:
Part of the reason it is diificult to get backing without these ridiuculous $10000 payments is the idiotic statements here.
"play big"
"swing for the fences"
"no risk to you" etc etc etc
what about professional integrity and respect for just how diificult the business is. If these firms only hired people that they truly believe could make money they would not be in business.
Good point.
One of my long term goals in the trading arena is that when I make it big...i.e 1MM++ a year in profits. Is to start my own fully backed group. I really want to train and fund new prospects. Not some snake oil shill book seller seminar type....but me and 5-10 traders in my office trading on my coin. I was able to cut my teeth in this biz when I had no experience or money because someone gave me a chance...and I hope to do that for others someday.