Noob to Prop Trading with a Question about Broad Street Trading

[caementarius]

I think the misunderstanding about it being "too good to be true" is that, while they may not hold you liable for losses more than your $5,000 deposit, they will assuredly not let you lose more than that $5,000. Their risk mgmt software will cut you off before you hit $0.

The way I read your initial message it sounded like you thought they would let you keep losing money.

Now you can see that they will certainly make _some_ money off of you from commissions, platform fees, etc.

 

[zdreg]

Quote from Av8rdan:

Don I guess I read this forum wrong. It seemed like a place where an admitted rookie could go to communicate with some professionals about how to get good information on trading. Instead, Most replies like yours have been snarky and sarcastic like you have to prove a point to a noob. I already know five grand is not enough to start trading but thank you for making fun of my legit question. The fact that you also failed to reply to an email I sent you asking about your firm demonstrates arrogance and this "give my 7yo grandkid" crap is more of the same. Sorry to have bothered you superstars on here with a legit question about Broad Street Trading. Would it have killed you to you provide a legit reply?

1. you have a very thin skin. this is not a fortuitous sign for future success.
2. your due diligence and research skills are lacking. you should have known of the existence of the other thread that questions whether broad street is still in business.

 

[SteveNYC]

Quote from Av8rdan:

Don I guess I read this forum wrong. It seemed like a place where an admitted rookie could go to communicate with some professionals about how to get good information on trading. Instead, Most replies like yours have been snarky and sarcastic like you have to prove a point to a noob. I already know five grand is not enough to start trading but thank you for making fun of my legit question. The fact that you also failed to reply to an email I sent you asking about your firm demonstrates arrogance and this "give my 7yo grandkid" crap is more of the same. Sorry to have bothered you superstars on here with a legit question about Broad Street Trading. Would it have killed you to you provide a legit reply?

Boy, you chewed out Don pretty good. Lol.

There goes your chance to roast marshmallows and sing Kumbaya w/ The Don.

 

[Don Bright]

Quote from SteveNYC:

Boy, you chewed out Don pretty good. Lol.

There goes your chance to roast marshmallows and sing Kumbaya w/ The Don.

He's still invited to the roast, and I know you'll be there, LOL.

Don

 

[rvg]

Quote from Don Bright:

Please help this gentleman, hitnrun, and leave our name out of it. $5,000 and "free money" from a Firm.

I'm not picking on the gentleman, and I know that you know what you're speaking of, but come on, really?

I just may want to give my grandson (he just turned 7) $5,000 to take a shot with this "free money" stuff, LOL.

Sorry if I'm a bit out of character here, and I don't mean anything nasty or anything.... but what kind of business can you start with $5,000? Put it into Blackjack.

Blackjack: http://www.blackjackforumonline.com/content/Brightint.htm

Still "doable" at least to a point to get enough capital to start trading IMO.

Don

I know russian guy who has increased his account since 3500 to 70 000 for 5 months. Now I am trading with him through chat but pennystocks is not mine. But yesterday they make the short SYNC from 14 It was not a pennystock trade.

 

[Don Bright]

Quote from rvg:

I know russian guy who has increased his account since 3500 to 70 000 for 5 months. Now I am trading with him through chat but pennystocks is not mine. But yesterday they make the short SYNC from 14 It was not a pennystock trade.

Great, glad to hear it... we need more positive stories.

Don

 

[rvg]

But 70 000 were only the remain of his profit because fees were 35 000
His prop loves him. It have been this year. This profit is from beginning of 2012.

 

[EvOTraderV2]

Hey Don, Here's a good story for some inspiration for new traders:

A new scalper at Broad St. (funny enough that the thread is about them) that went through their scalping program got the firm thrown a route that will rename nameless (don't want to give away who it is) He took home over 6 figures in his first 6 months scalping until he got the whole firm kicked off the unnamed route as well.

The guy is still trading in an unnamed NYC office. He's a greater HFT trader (focuses on NOK and BAC mostly) makes about 1000-1500 a day.

To give you an idea of how it's worked out, he's paying up to $1 markup on all the ECNs (on top of the super tier) and doing about 10m shares per month. Just one of many successful traders still out there doing the 9-5.

A guy I know in Boston is pulling in 50k per month off that strategy so for all those that bitch and complain that scalping is no longer a relevant strategy, you couldn't be any more wrong. Him and another trader in the group are making 2-3k per day on average. You just need the right rate structure to make it work.

 

[ElectricSavant]

But here is the deal...who trained him?

ES

Quote from rvg:

But 70 000 was only the remain of his profit because fees were 35 000
His prop loves him. It have been this year. This profit is from beginning of 2012.

 

[rvg]

Quote from ElectricSavant:

But here is the deal...who trained him?

ES

Books,Internet, practice,practice and practice again. He has made himself. This is Russia,there are a lot of guys who don't have enough money . They have to work so hard for success.