What's commission like these days?

L

LowRisk

I've been a prop trader for over 7 years. I haven't had a down week since Aug 2000 and haven't had a down day since Aug 15, 2005 (yes, almost 15 months ago). And I trade about 4 million shares a month.

I started at Worldco and was making great money even though I was getting ripped off big time by the firm. Their going out of business was actually a good thing because I joined a new firm and got my commission halved just in time to see my gross also dropped quite a bit. I still manage to make six figures a year thanks to the low commission. But now I wonder just how low firms out there are willing to go to attract good traders. I'm thinking about $1.0 to $1.5 per 1000 range with no bogus fees.

Any input is greatly appreciated.
 
Wow, if this is true you are one great risk manager :D


Quote from LowRisk:

I've been a prop trader for over 7 years. I haven't had a down week since Aug 2000 and haven't had a down day since Aug 15, 2005 (yes, almost 15 months ago). And I trade about 4 million shares a month.

I started at Worldco and was making great money even though I was getting ripped off big time by the firm. Their going out of business was actually a good thing because I joined a new firm and got my commission halved just in time to see my gross also dropped quite a bit. I still manage to make six figures a year thanks to the low commission. But now I wonder just how low firms out there are willing to go to attract good traders. I'm thinking about $1.0 to $1.5 per 1000 range with no bogus fees.

Any input is greatly appreciated.
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Quote from Churn2Learn:

your nuts if you're paying $1.00-$1.50 per 1000 shares. The going rate now is usually .75 for new prop traders.
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He said per 1,000 shares not per 100 shares. If you can get this per 1,000 shaes, what firm offers this rate? I would apreciate the info.
 
Quote from LowRisk:

I've been a prop trader for over 7 years. I haven't had a down week since Aug 2000 and haven't had a down day since Aug 15, 2005 (yes, almost 15 months ago). And I trade about 4 million shares a month.

I started at Worldco and was making great money even though I was getting ripped off big time by the firm. Their going out of business was actually a good thing because I joined a new firm and got my commission halved just in time to see my gross also dropped quite a bit. I still manage to make six figures a year thanks to the low commission. But now I wonder just how low firms out there are willing to go to attract good traders. I'm thinking about $1.0 to $1.5 per 1000 range with no bogus fees.

Any input is greatly appreciated.
More...


HAHAHAHA......... YEEAHHHHH your never down net yet your looking for another firm... doesn't make sense.. maybe your never down net because you do 3 daytrades a year.
 
Quote from B1010:

HAHAHAHA......... YEEAHHHHH your never down net yet your looking for another firm... doesn't make sense.. maybe your never down net because you do 3 daytrades a year.
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haha, exactly right
 
He hasn't asked for anything but help in finding a firm with the lowest fees.

He's given details of his volume and trading record - probably so any prop firm could verify these figures and appropriately risk categorise him.

Rather than writing messages like "haha", why don't you go and try learning some new methods. Whilst I am not making any claims with regards to my own trading, I *do* know people with such achievements.

Because if he's serious and I have no reason as of yet to doubt it, I suspect he is either ignoring you or laughing back at your narrow-mindedness.
 
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