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Prop firm Monthly payout
- Thread starter MoneyMatthew
- Start date
the majority of prop firms only pay out 1 time per month
they lock up your capital & make you wait for your profits
trading used to be easy , now your fighting for scraps to stay alive
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quote from hitnrun
Yet another reason why trading volume is down and will never return.
they lock up your capital & make you wait for your profits
trading used to be easy , now your fighting for scraps to stay alive
_____________________________________
quote from hitnrun
Yet another reason why trading volume is down and will never return.
Quote from Don Bright:
Heck, even our "Opening only" guys are putting in orders on 100-300 stocks each day, and getting filled - so a few more bucks from your "right pocket to your left pocket" will allow you a much better chance for success.
Don
Don,
I've heard you write about the "opens", what I'm unclear on is how does someone manage 100+ stocks at once?
Does the REDI software allow for multiple orders on the same stock before the open? I can't recall when I saw your software if it had such a feature (it's been awhile).
For example, "buy 100 shares of XYZ at 25", if filled then "sell 100 shares of XYZ at 25.50" and "stop 100 shares of XYZ at 24.75". Sort of like a contingent order coupled with a "one cancels the other" order.
I've seen this on Fidelity, however I'm unaware if any other prop firm uses software to handle these types of orders.
Quote from MoneyMatthew:
Thanks for the reply Don,
I'm with WTS so my money is locked up for a year. I was just wondering how payout is determined on a monthly basis.
I called the WTS mainline to get an answer and I was told a trader can take any profits above their initial deposit/capital contribution amount.
I was under the impression originally that monthly profit withdrawal is based on how much you make for that month.
I had a bad July but an alright August. So I am down overall in my account value but up for the month of August. I wanted to know if I can get a check based on the results of August alone.
I will need to call again Tuesday to get a better answer. I was hoping to get a reply on here from someone at WTS or in a similar situation.
Money locked up for a year...?
Most bullshit rule I've ever seen...!
Quote from VinMan:
Opening Orders Only --- what a great way for an arcade to start its day. Its genius. Within minutes, traders have hundreds of orders executed firmwide.
Its a great business model to get the bills paid via commissions within the first 5 minutes of the day. The rest of the day is gravy.
I can see how commissions would rack up fast, however my understanding is the strategy calls for placing lots of orders, of which many do not get filled.
Don implied that they ARE getting filled, with "100 to 300 at a time for a trader", so then the question is, how to manage the orders without some sort of automation? I asked Don about this, still waiting for a response.
I'm not asking Don to reveal what strategy his traders use to determine the entry/exit price, I'm just asking how the execution and management of the strategy works in relation to the platform.
Sterling with API probably allows for this, not sure about REDI.
Quote from ScalperJoe:
I can see how commissions would rack up fast, however my understanding is the strategy calls for placing lots of orders, of which many do not get filled.
Don implied that they ARE getting filled, with "100 to 300 at a time for a trader", so then the question is, how to manage the orders without some sort of automation? I asked Don about this, still waiting for a response.
I'm not asking Don to reveal what strategy his traders use to determine the entry/exit price, I'm just asking how the execution and management of the strategy works in relation to the platform.
Sterling with API probably allows for this, not sure about REDI.
Fully automated, and we have new "stuff" to help - doing a presentation at our retreat in a couple of weeks. Our very top people do this, and, of course they work very hard at it, and I'm not going to disclose their specifics, but I can say they enter on the open, are are generally done by 10AM NYSE time.
Don