Recent content by Sir Larry

In some cases yes. It is not a a complicated process. You buy a percentage interest in the company. The $ amount and percentage interest will be recorded in your firms capital account. The firm will authorize you to trade their brokerage account and allocate buying power. Your pro rata share...

There have been significant developments in the industry. One of the main sticking points with regulators is that "prop" firms operate under their stated business purpose. That means that you will in most cases be trading firm capital. If you wish to trade your own with less then 25 K you will...

If you are trading through an LLC then you do not have an account. The LLC does. You should have signed an sub account agreement that allows you to trade the firms master account. That account is deemed pro by the exchanges and is charged on a per view basis. So each new trader is charged there...

Get a grip. He is far from the worst. This country has been running a defict for 50 years. We already had a 5 Trillion Dollar National Debt when he took office. Bush did not spend 4 Trillion $ more then we had. The interest on the original 5 adds up over 7 years. The rest comes from...

S 7 is not the determining factor. The exchanges may require that indvidual tradrs at a member firm be licensed. The member firm and the exchange have there own margin guidlines that the SEC does not regulate. A trader who has 25K can trade at 4 to 1 without a S 7. At this point in time a...

jru. I have no clue who they are. That was an excerpt from the receivers PDF. I do know that a LLC can not have sub-accounts in the name of an LLC or have multiple members on one sub-account.

This right here is a big no no. GLB never should have allowed this. The Receiver understands that Tuco had a unique relationship with one of its Members named T3. Although T3 was treated as one Member for Tuco's purposes, it consists of numerous individual traders or trader groups...

I t looks like Tuco has settled. They are out of business. I do not know what to make of it. They have plead to running an unlicensed B/D. This is most likely has something to do with the Tuco pricipals affiliation with GLB. The LLC model does not work with a registered rep of a B/D in...

I did not mention leverage. I am of the opionion that 10 to 1 is a recipe for disaster. I had this conversation with you on the original Tuco thread.(monstercrat) However I do maintain that if an LLC holds 1 account and it does not exceed 4 to 1 then they are free to allocate BP as they see...

Just curious I have not heard one trader from say SMB Avitar Keystone or an Assent LLC post that trading operations have been halted at these companies. It really is just the same few guys posting endlessly on the PDT rule and what the SEC wants going forward. The solution being offered also...

I cant say what share of daily volume prop firms are responsible for. But it is not insignificant. Considering the current climate on Wall St. a dramatic fall off in volume would have a serious negative impact on the markets. Bear Sterns just blew up. Lehman is tetering on the brink. The market...

Looking for a stand alone professional grade charting and TA package that I can use with my Brokers Real Time Data Feed direct from the exchange. It seems most packages are always trying push there data or are only compatible with e signal. My only choice from my broker is connect through...