somewhere around .004-.006 sounds right
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The Best Commission Rate Ever
- Thread starter MaxGain
- Start date
Samba:
Do you remember way back in the good old days when we wore a tie and got a check every two weeks? I am talking about that thing called a JOB! Well if you think back actual institutional customers used to pay us .06/share to execute and clear their shares! If we were really good traders/sales traders we broke even or ideally made 1/8 or more on the order.
Did you ever think there may still be REAL institutional business out there in between these sarcastic posts that pay more than .0000000000000000001 a share?
I know most execution shops are getting paid .03 to clear and execute. This is without ANY research or flow.
Maybe you and I can start an institutional shop and charge .015 to fill 'em and bill 'em?
Your Buddy,
ebo
Do you remember way back in the good old days when we wore a tie and got a check every two weeks? I am talking about that thing called a JOB! Well if you think back actual institutional customers used to pay us .06/share to execute and clear their shares! If we were really good traders/sales traders we broke even or ideally made 1/8 or more on the order.
Did you ever think there may still be REAL institutional business out there in between these sarcastic posts that pay more than .0000000000000000001 a share?
I know most execution shops are getting paid .03 to clear and execute. This is without ANY research or flow.
Maybe you and I can start an institutional shop and charge .015 to fill 'em and bill 'em?
Your Buddy,
ebo
Quote from trendsetter:
last year i traded 22 million shares of stock. @ a penny a share that is $220,000. @ half a cent a share i have an extra $100k. commissions definitely make a difference. i dont care who u are or how much $ you pull out of the market a $100k is a lot to just give away. especially since you would be just giving it to the firm. to argue that commissions dont make a difference is absurd. i pay less than half a cent if u pay a penny i can front your ass all day. im giving you your fill.
ok, so now that you've found ouit that you were the one paying for the other's guys yacht....
what have you done about your commission rate situation?
remain there? under the delusion that "they like me"....?
remain there? under the delusion that "their software is superiour"?
or have you agressively achieved a better than 55% reduction in comm rates?
after all, if you guaranteed an operation just under 1/4million dollars in sales, they'd name the elevator bank after you.... under these market conditions...
Quote from limitdown:
ok, so now that you've found ouit that you were the one paying for the other's guys yacht....
what have you done about your commission rate situation?
remain there? under the delusion that "they like me"....?
remain there? under the delusion that "their software is superiour"?
or have you agressively achieved a better than 55% reduction in comm rates?
after all, if you guaranteed an operation just under 1/4million dollars in sales, they'd name the elevator bank after you.... under these market conditions...
good point, trendsetter, you should realize how you've been fleeced ( if that's the case ) and start looking around and talking to other firms.
if you are trading 150K shares/ day and 3Million/ month, is it possible to get .004 ALL-IN at a prop firm with full leverage??
Quote from ryanmitcho:
if you are trading 150K shares/ day and 3Million/ month, is it possible to get .004 ALL-IN at a prop firm with full leverage??
leverage at 10:1?, 20:1?; 35:1?; 50:1?
how much leverage, or have you decided this yet?
also,
PDT over $25,000; $50,000; $150,000 is 4:1, which for most cases are really where most positions are held within, unless you're cleared for handling 8 positions at a time, and feel comfortable keeping over 3 - 5 strategies in your trading mind during real time trading./.
most newbees think that's nothing,
that's professional+ level.... in all seriousness....
i'm a professional seeking unlimited BP, no haircut until 50:1, no one telling me how to trade (risk mgmt), and the lowest possible rate. I trade 3-4 million shares/ month. I am primarily a statistical arb trader, but trade a few other strategies as well (opening orders, tech. analysis and news based trades...) I am a successful trader with an established track record and am seeking the absolute lowest rate ALL-IN for trading NYSE stocks. I have a competitive rate,but i think that i could be trading around .0035-.004 ALL-IN with these conditions met, is that feasible?? thanks.
Quote from ryanmitcho:
i'm a professional seeking unlimited BP, no haircut until 50:1, no one telling me how to trade (risk mgmt), and the lowest possible rate. I trade 3-4 million shares/ month. I am primarily a statistical arb trader, but trade a few other strategies as well (opening orders, tech. analysis and news based trades...) I am a successful trader with an established track record and am seeking the absolute lowest rate ALL-IN for trading NYSE stocks. I have a competitive rate,but i think that i could be trading around .0035-.004 ALL-IN with these conditions met, is that feasible?? thanks.
I would be shocked if you got someone to bite on this for how little profit they would make on you. Unlimited leverage and no risk management sounds like a potential disaster waiting to happern. If someone hands out this deal I would have to wonder how at risk my money would be because it sounds like their risk management would not be that great. From what I hear (it is just my opinion) but I think rates will be stablizing for awhile. I think the weak firms are folding up their offices and the strong firms are gaining more pricing power for bottom of the barrel rate seekers and realize that it is not worth it to them if they go too low in rates. I know several traders that cut real low rates trading 200-300K shares a day then dropped off to 50K a day yet are paying their same rates as before.
Quote from TM_Direct:
IM JUST SHOCKED THAT THERE HASN'T BEEN A DOVER GUY COME ON AND SAY " PM ME AND I'LL GIVE YOU THE INFO'
...Great thread though and I have talked to many a trader myself that are looking for so much in commissions and do not pay attention to the trading or they trading system...I've been amazed at how many guys go into a trade of 10,000 shares of stock demanding a 10.00 or 15.00 cap....My philosophy is that anytime you buy 10k shares of anything, 5.00 on either side should not be the deciding factor of your profitability
well said,
anyone that can take on a 10,000 share position evidently has serious trading capital authorization (not necessarily trading capital or balance, PDT rule)...
anyone that can take on a 10,000 share position that sweats $10.00 or $15.00 as the total commision or expect that some firm will provide this should call me..., uh, should reconsider what's more profitable....
1) getting out flat, ahead or what?
2) monitoring the direction of the trade and deciding at what amount above 10% profit will be sufficient...
3) worried that he/she can scratch the trade and only suffer $15 comm
tough call
Quote from ryanmitcho:
i'm a professional seeking unlimited BP, no haircut until 50:1, no one telling me how to trade (risk mgmt), and the lowest possible rate. I trade 3-4 million shares/ month. I am primarily a statistical arb trader, but trade a few other strategies as well (opening orders, tech. analysis and news based trades...) I am a successful trader with an established track record and am seeking the absolute lowest rate ALL-IN for trading NYSE stocks. I have a competitive rate,but i think that i could be trading around .0035-.004 ALL-IN with these conditions met, is that feasible?? thanks.
Let me know who gives you that so I can short them.