Should I work for Generic Trading of Phila. ?

Don fails to mention that this equates to over 500,000 shares per month. New traders simply do not trade this much volume (yes, not even at Bright).

By the time you trade this much volume, Generic or wherever you go will have you at less than a penny a share....and over 85% payout. By the time you're pulling in over 5 figures a month, your payout will be close to 99%. Trust me on this.

Don, yet again, is giving out useless info....

Originally posted by Don Bright


For the average trader the difference between 1 cent and 1.8 cents is around $10,000 per month, that is rough to overcome...and even if you did, you would only get 65%. Generic is a good group, very reputable, but if that is the deal they offered, I would consider raising additional capital if at all possible.
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I never went to work for Generic. They couldn't sponsor me because they aren't registered in PA, and I am a PA resident. This all happened back in February...

Yeah, I was extremely angry and disappointed.

Right now just looking for a regular job so i can save up some money. Then i'm going to give Worldco a shot.

Thanks for asking about it, by the way. Wish i had better news.
 
Disagree that he is lucky not to start in this evironment. IF, IF, IF he can learn in this market he should have a long successful career ahead of him. All the traders that thought they were traders who started in 98, 99 are out of business now. He is looking for a career, then he should take the long view.

Call Gene's office. Now is a good time to learn.
 
Originally posted by Treykool
Don fails to mention that this equates to over 500,000 shares per month. New traders simply do not trade this much volume (yes, not even at Bright).

By the time you trade this much volume, Generic or wherever you go will have you at less than a penny a share....and over 85% payout. By the time you're pulling in over 5 figures a month, your payout will be close to 99%. Trust me on this.

Don, yet again, is giving out useless info....
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"Trey NOT cool" I had a response posted, but I figured why lower myself to your level. Facts are that our average volume is 1.2- 1.4 million shares per month. Newer traders using proper opening strategies may do from 200K-700K per month from the get go.

I find it so intriguing that some people love to spout off without possibly knowing the facts of our firm. Perhaps at some other firms, they may not feel enough confidence to begin trading, but our people do pretty well.

Thanks for yet another chance to show off BT.

Have a greate day!!

Don
 
i've pondered this myself. but if market conditions change then
you may still be caught in the mindframe of an awful market
 
I think it is easier to raise expectations than to lower them. If a trader learns in this environment, he can learn to push the envelope. In this market he is learning the most important thing for a trader, PROTECT YOUR FLANK.
 
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