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I heard they closed the doors today. More will follow.

When I was at ETG, they had Health Insurance. ETG paid for part of it too. Around $500 for a family. They used to use the Guardian. I hear it is now Blue Cross PPO but not sure.

How do you define "a very high additional potential" that you pay your successful managers?

To add to what Steve posted: you sign the lease, take all the capital risk let me trade and I manage the office for an additional 10%? Not a terrible deal. What do your office trading managers get? More than that? Your risk reward sounds off. 100% of the risk for 90% of profits sounds...

Don, I apologize for not knowing that some traders were able to lose more than they put up. Sorry to hear it. You do have the risk of the rogue trader. I hope you try to collect from them.

Why not just call the exchanges and ask them?

They use the term proprietary because of the ability to meet net capital requirments of a dealer rather than reg T of a customer. The traders are just like a customer who is able to avoid reg T. The Bright's take no principle risk. You get a great payout and low rates, but it seems to me they...

Who signs the lease and has the risk of the overhead of the office? If no overhead risk and you can trade your own account at same time, then sounds reasonable.

You would know as well as anyone Don. Thanks. Good luck with the operation. Speaking of rumors, i always heard that you have a BIG heart. I assume that Bright will be at SLK for a long time then, right?

Good luck Don!

Most hedge funds and large institutions don't want to be associated with us "day traders" One of Goldman's advantages is its capital and its reputation. The liquidity issue Gene brings up is a nonstarter. Day traders will continue to use the REDIbook if that is where the orders are...

I heard the rumor from a friend who works in the clearing department of Bear Stearns. Obviously they are biased and have an incentive to spread such a rumor, but this is coming from a guy I have known for 21 years. He used to work for FOC (a division of SLK) many years ago too.

If Echo opened an office in Boston I take back what I said about trading from home. Go to their office. Reputable firm and trading from an office instills discipline and accountability you don't get from home.

Gene, Think about how much revenue your firm generates for Goldman on a yearly basis. Wouldn't they be ok if they lost it and isn't the association with day traders hurting Goldman's reputation? What hedge fund wants to be associated with day traders when they are out soliciting finvestors?

Seems to me that the policy of pay to spam is worse than not paying and spaming. It legitimizes it. I have said it before and will say it again, but there is a conflict between Bright and LW advertising and running amok around these boards bullying people who don't agree with them. I...

Does anyone know anything about the rumour that SLK is getting rid of its clearing of day trading shops? I heard they were only going to rent out the REDI+ front end. As a customer of one of these firms do you know if they will let real customers stay at SLK or should I move my account now?

Ever since the Commonwealth of Mass slammed a few firms (Bright?) a few years back no one wants to play in their sandbox anymore. Who could blame them? Trade from home or go to another state.

This thread was started based on using NOL's to be carried back. I am confused. Isn't a good trader one who can make money in any market anytime without the need for momentum? Why would you have a loss? Just asking...

The curse of On-Site Trading strikes again!

What is the risk of signing a contract if they are teaching you to trade and not having you put up cash? If you are a winner then you will get a share of your profits and the firm gets paid back for the risk it took to train you. Your risk is time. If you are a loser, then you have nothing to...