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Negotiating w Prop
- Thread starter eagled
- Start date
Quote from eagled:
Its remote trading & training was not neeeded. Looking to hear from others if this is the best one can negotiate with firms.
I always get a bit concerned when I hear/read "training is not needed" - because if that's the case, then I assume the trader has obviously done well, and has more than enough capital to keep their trading business going well.
I know that my guys who do extremely well are always coming here to Vegas for additional training.
Just an observation....bottom line is what we're all looking for.
All the best,
Don
its a good deal but your per share charge seems a little high try to get a per ticket deal.
Make sure you sign no agreements barring you from trading elsewhere if you don't like it where you are and decide to quit (non-compete clauses).
.005 isn't great, but it depends on your volume. If you do over 100k shares a day, or 2 mil a month, then you can get much lower (I got .003 after shopping around). If you do 25k a day, then .005 is fine.
Check to see if they charge you other fees beyond the desk fee. Data fees, open book (if you trade NYSE), software fee. Sometimes firms that charge lower rates make up the difference in these back end charges.
.005 isn't great, but it depends on your volume. If you do over 100k shares a day, or 2 mil a month, then you can get much lower (I got .003 after shopping around). If you do 25k a day, then .005 is fine.
Check to see if they charge you other fees beyond the desk fee. Data fees, open book (if you trade NYSE), software fee. Sometimes firms that charge lower rates make up the difference in these back end charges.
Remember......you get what you pay for. If the firm does not have decent margins or some benefit down the road, why do the deal?
They will take anybody or need some volume to get better rates. I have been there and it needs to be a two way road or you will not have that deal to long.
TC.
They will take anybody or need some volume to get better rates. I have been there and it needs to be a two way road or you will not have that deal to long.
TC.