Recent content by G-Man

I just received my k-1 today. It came from: Kaufmann, Gallucci & Grumer LLP One Battery Park Plaza 26th Floor New York, NY 10004

Well I have been in the business a while but i have always thought the term "piker" always had a negative connotation and simply referred to a poor trader or as mentioned before one who gave little effort. I never really thought it had to do with volume per se though most newer, inexperienced...

First off, I trade at Worldco and I heard these rumors being spread around the office the past week. Are they true? I have no idea. I honestly don't think so but I will certainly not deny that it could be true based on recent events. But just to get some things straightened out, this is what...

If you are willing to put up capital, almost any firm will take you. It just becomes a matter of what firm you want to work for. Do some research on this forum regarding the various firms out there, visit some of these firms and determine where you best fit in. Good luck.

Chris, Just survey a couple of other team leaders as to what they feel is appropriate. Or ask Pierre the recruiter what he offers the newbies. That should get you a good idea on what rate you should start your traders.

I agree. I work at Worldco and have many friends who work for Assent, Generic, and many other places and it's pretty much the same everywhere. The bottom line is: As long as you make money for the firm, I don't think they care how much time you take off or how many hours you spend in the...

I think we agree for the most part. My main point though is that just about nearly all firms require capital upfront these days and that firms actually prefer that newbies put up some capital. There are only a few firms out there willing to cut no capital upfront deals but only because there...

I agree with you somewhat. To make my points, let me just define .006 with 5k capital contribution as CASE A and .012 with no capital contribution as CASE B. From the trader's standpoint, I agree with you. A trader would definitely benefit from CASE A since he would have lower overall...

Correct me if I'm wrong, but don't most prop firms run this same exact model these days????

I know the branch mangaer as well back when he was in NY. I am pretty confident that management forced him to stop accepting traders with no money upfront. He really is a good guy who cares about his traders and is one of the top traders at Worldco. My guess is that you were hired before the...

This is an excellent point that should be made clear to newbies looking for info on different firms. Whether it be Generic, Assent, Worldco or whatever, every individual office is unique. A company's office in one city may be great but terrible in another. Furthermore, firms have multiple...

And what makes you believe there are serious problems at Worldco??? There is so much BS all over these boards, sometimes you have to wonder who your sources are, what their agenda is, and decide what to believe for yourself. Unfortunately, even then you might be misguided.

I would prefer that the moderator got rid of people like yourself first. :D

Just to show how unbiased I am, I'd have to agree with Mecro for the most part. Worldco as it is now, is geared more for experienced traders and not for new traders. If you are making money, everything is all fine and dandy and Worldco will treat you better than most firms out there with great...

You had no capital to pull out to begin with. No need to lie about that. And yes, the head of risk was an unfortunate victim of the layoffs. Worldco did fire 300 traders. Did you expect them to keep a full force of non-trading personnel when it was no longer necessary? One may say it was...