To Prop or not to Prop!

T

Transact Futures

Transact Futures
If you've ever tried to weigh the opportunities offered by futures prop trading, versus going it on your own, then check out TransAct Futures proprietary trader Mark Waz in the elite Chat Room on Thursday, April 22, 2004 for a discussion of Prop versus individual trading and how this affects your trading decisions.

Mark is a successful prop trader who has been through some of the best trading markets in history, as well as some of the worst; and has lived to tell about it.

He has offered to share his perspective on the mindset and attributes he feels are key to being a successful trader. He'll also be addressing the differences between how a prop trader and an individual trader view the process of making an individual trade. How does the psychology, money management and stress level differ?

This chat is sponsored by TransAct Futures. Offering E-mini trading at $1.71 per contract, all-inclusive, and the firm’s TransactAT™ active trading platform, which was built to the rigorous standards of scalpers, inter-market spreading, arbitrage and position traders. The platform was developed and is continually tested by the firm’s professional, in-house traders.


We hope you join us for this discussion in the Elite Trader Chat Room on Thurs. April 22nd at 4:30pm EST. If you have any questions about TransAct Futures, you can call Rich or Bill toll-free at 1-877-872-3303.
 
How can firms like these attempt to hide the fact that you have to pay a monthly commision of HUNDREDS of dollars in addition to this 1.71 rate. I can only assume 2 things.. either Transact Futures thinks the elitetrader community is naive, or they are an unstable company that could fold (and take your money.) Why else the need to engage in deceptive advertising?

The effective rate is far greater than its competitors. Nice try anyways.
 
Sammy,
I understand that other firms have hidden costs in their commission rates, but you're barking up the wrong tree here. I'll lay it out:

Our firm is built for active traders, so there is a $400 per month platform fee

BUT

Every single trade you make goes to reduce this fee. In other words, our $1.71 rate represents 55 cents commission and $1.16 exchange and NFA fees. Each time you trade, 55 cents comes off that platform fee.

So, unlike some others in our space, you will always get the $1.71 rate, but if you do more than 18 round-turn contracts per day,

THE PLATFORM FEE IS GONE.

We also include four exchanges at no additional cost, and the $1.71 is our HIGHEST rate. We do discount for higher-volume traders.

Sammy, I can tell you about this all day long, and I may miss some points about which you have questions. The best thing to do is to either contact us, or just come to the chat this Thursday. At least, then, you can ask all your questions directly.

RM
 
Mark and Andre,
I missed the chat but just read the transcript. Very interesting, makes me want to move to the states.
But I guess one can't trade prop without a greencard?:)
 
Yes you can, put up your own cash and become a customer!!!

Quote from roberk:

Mark and Andre,
I missed the chat but just read the transcript. Very interesting, makes me want to move to the states.
But I guess one can't trade prop without a greencard?:)
More...
 
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