He is not even doing a half mil a month, what the f**k you talking about.
You gotta be doing at least a mil month before talking about getting .005 or less.
.008 for 20k-30k shares a day is a fair deal.
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New Deal
- Thread starter fxp125
- Start date
He is not even doing a half mil a month, what the f**k you talking about.
You gotta be doing at least a mil month before talking about getting .005 or less.
.008 for 20k-30k shares a day is a fair deal.
Quote from chanster:
i have no idea what you're smoking. anyone with even little exp doing 500k amonth with 10k down can get .004-.005 period threw assent or genesis or even hold. show me anyone paying .006 or .007 trading 700k amonth making even 3 k net a month
I'm smoking the good sh*t, thank you very much.
Does it sound like he has 10k to put down? He is obviously a newbie that got hired under a LLC. Cause he can get a great deal through IB, but that requires 25k. This is a common situation, where you do not have enough capital due to the high commissions, so you get stuck and limited in your options. If he had the proper capital, he would be starting at .004.
Assuming he put down the total min or nothing at all, he has a decent deal. Once you cross 1 mil a month, you can demand .005 or less.
But then the equity prop firms are desperate nowdays since NYSE went Hybrid. So I may be speaking pre-Hydrid terms.
I want to thank everyone for the replies its been very helpful. One more set of questions. If I go retail can I get .004 on 30k daily. Also, will normal prop firms allow a trader of only 4 months trade on their floor as a retail trader? If so, are there any firms that are catered to retail traders. I know its similar but they won't make as much money off of me so why would they want me there as retail? Thanks again guys.
Quote from fxp125:
Yes I do mean 20-30k shares a day...Like I said this is my fourth month trading and I am starting to become profitable. I only had 3 gross negative days out of last month. I was gross positive 1800 for the month and net negative 1400. I don't have a fair shot to make it at my current deal. My winning days get cut in half and my losing days get doubled. I am currently at .008 with an 80% payout. I attempted to talk to my boss and see what daily volume he wanted to get lower rates and he didn't want to hear any of it. After reading many posts on this site I see that there are much better deals out there. So I wrote my previous post. I don't want to go retail at this time because I am new. I want to work in an office and learn as much as I can also, I like trading with other people.I can send you my resume and last months P&L PM me if interested. If anyone can help me out it would be greatly appreciated.
Don't even think about making a switch for a few months. This market is a good market for traders...and contrary to what you think, there will be a learning curve at any other place you migrate to. Might take you 60 days to settle in at a new place, and in this market, the opportunity cost is way too high.
Sit tight, hone your skills as a trader, build some profits and some cash, then, when you are in a stronger position, renegotiate, or make the switch this summer, AUG is a good month. The markets will always be there, though good trading markets come and go. Which leads me to my next point.
Don't mistake a good market for being a good trader...this market...all traders are making money...once again, build some cash, build your account, so you have the staying power to survive the tough times in the market.
MS
I agree...its the market that is handing out freebies and this will die down once this correction occurs and than back to smaller ranges.
Switch products and trade futures..not shops.
I agree...its the market that is handing out freebies and this will die down once this correction occurs and than back to smaller ranges.
Switch products and trade futures..not shops.
Stay at your firm for another 7-8 months.
You still haven't experienced enough market conditions to do it on your own. Also, your profitable so they're teaching you well.
Just make sure you keep your track record so that you can use it to move to another firm.
You still haven't experienced enough market conditions to do it on your own. Also, your profitable so they're teaching you well.
Just make sure you keep your track record so that you can use it to move to another firm.
Quote from FXTraderWill:
Um... isn't 25k/day a half mill/month?
You're assuming no days off and no market holidays, let alone the slooowwww days.
Another thing the poster is assuming is his results when he sizes up. It changes drastically. I've seen a lot of guys who had the same results initially and never made it into a decent living.
I agree with all of the things you are saying. I want to stay at my current firm its just that I won't be profitable on .008 with 80% payout. Especially in todays markets its very choppy and those small losses add up very quickly at my rates. I tried to talk to my boss again and he wouldn't budge. I have 3500 left in the account and that will last 3 months. I would have to gross some pretty high numbers and like I said Im only trading 200-400 shares. Also its very frustrating for me to see my gross and net way off, I mean he should earn something for training me but not that much. I appreciate all the responses it gave me alot to think about.