Question about offer

[bpcnabe]

Quote from ScalperJoe:

park53:

Here are TWO main questions for you to consider as a new trader:

What is my trading plan? (Example: type of stocks you will trade, the share size, daily drawdown limit, maximum buying power you will put in per trade, time of day you will trade, etc).

How will I define and minimize my RISK per trade so that I do not "blow up" the account and lose my capital?

There are various firms with different pricing models. Here is a list that has been posted on numerous threads, which also includes some questions to review before joining a firm:

http://www.tradersnarrative.com/list-of-proprietary-trading-firms-735.html

Best of luck.

park53 left the building 1 yrs ago.

 

[ScalperJoe]

oops! you're right, didn't see the date of the original post. oh well, hope park53 eventually found a good deal.

 

[NY0BScalper]

Quote from WhiteOut56:

To be honest w/ you... After you add ecn costs sec costs nscc costs etc... you are looking at .013 / share. I would BET that if you take the whole WHO DO THIS FOR A LIVING AND ARE PROFITABLE they all their edge amounts to is pretty darn close to just that.

If you can't find anything on the training... I'd avoid them like the plague

Been in the business over 3.5 years, profitable, would be in the red probably close to a million dollars if I had to pay that rate. I never once had an edge that would have been profitable at 1 penny/share.

To the original poster, that's not a good deal at all. They're trying to rip you off because you're new to the business.

 

[peregrinecap]

JC offers 0.0005/share, 95% payout.

 

[propseeker]

Quote from peregrinecap:

JC offers 0.0005/share, 95% payout.

that's pretty competitive... with what kind of volume?

 

[mews]

Is that .0005 or .005?

 

[clearinghouse]

Penny per share? GTFO. Training and mentorship isn't worth it. Having cheap costs so you can cut losses while you're finding an edge makes you successful. Penny per share commissions will wipe you out as a newbie.

You ask them for a trial rate of .003 and if you succeed in 8 months, you can pay them a penny then. If you do 100k shares per week, you should be able to find a group that'll subsidize you while you ramp up volume.

 

[KINGOFSHORTS]

Quote from tinka:

I traded for them. Training nonexistent. I do not know of anyone in my group who made money. Everyone I know lost money.

Well do the math, some noob with 10K trading 100K leverage, will not take long before that 10K is gone.

 

[peregrinecap]

Quote from propseeker:

that's pretty competitive... with what kind of volume?

10mil shares a month

 

[tinka]

Everyone I knew lost money there. The commissions were high and mentorship was nonexistent. I do not know if the mentors made any money. When I asked mentor if I can watch him trade, he did not allow me.