Should I work for Generic Trading of Phila. ?

Trading for Broadway, I paid 1.5, guys with a lot of volume could get down to around .01 after a while, but only at over 100K shares/day, and yes, back in the day - 3 mo go - they paid a 1600/mo "draw" but then quit.

Try to be around someone making money and remember much of this industry is pretty sleazy. Definitely dense with liars.

Good luck.
 
listen to the wisdom on this board. how you think you want to trade and how you eventually trade may not match up. the only way to find out is to get experience. if you can't put up more than $2500 then you're best bet is worldco......you will actually have a shot at being positive after 6 months!!!! location is important but what's the point if you are not profitable. 1 1/2 hr commute is a nightmare......have you considered moving????
 
Also, 1.8 cents per share commission is a rip off compared to a .01 a share. Average say 30,000 shares a day and you end up paying $60,000 extra in commissions per year when that could end up in your pocket paying only a .01 a share.
 
What do firms like Echo and WorldCo charge for software and equipment for an onsite trader? I read somewhere Echo charges $600 a month, if that's the case it must be difficult to incur such expenses in the first few months when you start your career.
 
I heard if you trade at least 600,000 shares or more per month, they waive the $600 desk fee. Anyone at Echo care to add or correct me if i'm wrong?
 
This IS the first prop deal I've ever been offered, and I am not licensed as of yet. How much better of a deal could I really get?
 
echo-
600 per mo for in-house(office)
$100 per 100,000shrs over 400,000shrs is rebated back...so if trader does 800,000 a month would get $400 back...cost would only be $200...anything over 1mil shares = no fees

thats a great deal if you ask me, you get good data fees, good top of the line computers, nice office environment, knowledge of office traders

i've seen the NYC office, its top notch
I'm not aafiliated with Echo, but I am looking to open an acct with them soon.
 
You must log in or register to reply here.
Back
Top