Some bad information. There are no commissions, and no rent during that month of non Series 7 period. A simple flat fee of $500.
Don
Prop firm, no Series 7, yes k1
- Thread starter Trader588
- Start date
Some bad information. There are no commissions, and no rent during that month of non Series 7 period. A simple flat fee of $500.
Don
Hi Don,
Wow, Trading for a fixed fee in the first month? Software and desk fee included? The deal seems to be getting better day by day. What's next? Free trading w/o any risk capital!?
I like the free market competition.
But seriously, I am more concerned about a clear trading direction so I know my efforts won't be wasted. A small fee here and there as "tuition" or "homage-fee" does not quite concern me at this point. However, I do believe a low commission schedule is a must to increase my chance of success and survival in high frequency daytrading. My impression is your commission charge is on the high side for starters.
My disliking of the Series 7 license is to avoid increased trading overhead- speaking from my experience with retail account charges. I just don't want unnecessary financial expenses in the early stage of trading. Less pressure and stress that's it.
I like the logic behind the opening order strategy and that people are actually trading it with > 70% success (rough estimate from the posted pnl ). I believe in pairs trading for longer term trading. I know little about the success rate for intraday scalping using pairs trading approach. Daytrading with no positions at the end of the day is what I really want to do.
T
Wow, Trading for a fixed fee in the first month? Software and desk fee included? The deal seems to be getting better day by day. What's next? Free trading w/o any risk capital!?
I like the free market competition. But seriously, I am more concerned about a clear trading direction so I know my efforts won't be wasted. A small fee here and there as "tuition" or "homage-fee" does not quite concern me at this point. However, I do believe a low commission schedule is a must to increase my chance of success and survival in high frequency daytrading. My impression is your commission charge is on the high side for starters.
My disliking of the Series 7 license is to avoid increased trading overhead- speaking from my experience with retail account charges. I just don't want unnecessary financial expenses in the early stage of trading. Less pressure and stress that's it.
I like the logic behind the opening order strategy and that people are actually trading it with > 70% success (rough estimate from the posted pnl ). I believe in pairs trading for longer term trading. I know little about the success rate for intraday scalping using pairs trading approach. Daytrading with no positions at the end of the day is what I really want to do.
T
Quote from Trader588:
Hi Don,
Wow, Trading for a fixed fee in the first month? Software and desk fee included? The deal seems to be getting better day by day. What's next? Free trading w/o any risk capital!?
But seriously, I am more concerned about a clear trading direction so I know my efforts won't be wasted. A small fee here and there as "tuition" or "homage-fee" does not quite concern me at this point. However, I do believe a low commission schedule is a must to increase my chance of success and survival in high frequency daytrading. My impression is your commission charge is on the high side for starters.
My disliking of the Series 7 license is to avoid increased trading overhead- speaking from my experience with retail account charges. I just don't want unnecessary financial expenses in the early stage of trading. Less pressure and stress that's it.
I like the logic behind the opening order strategy and that people are actually trading it with > 70% success (rough estimate from the posted pnl ). I believe in pairs trading for longer term trading. I know little about the success rate for intraday scalping using pairs trading approach. Daytrading with no positions at the end of the day is what I really want to do.
T
That's fin, daytrading and ending up flat...it's just that, more and more, the traders are migrating more into other techniques, while perhaps leaving the daytrading running via an automated program, etc.
Whatever works for you...a traders "comfort level" is the most important thing IMO.
Don
Maybe at Bright, due to the restrictions your firm places, but throughout the industry there are absolutely ZERO advantages to getting Series 7/55 licenses. Only disadvantages.
Firms don't want traders taking out money every week or so, especially trying to take out the day's profits. Rather have them keep some kind of balance.
Also, sporadic requests from 100s of traders is not something a firm wants. It's wise to keep it orderly by specifying dates for requests & withdrawals.