1987 : net loss $902,599 - $6,122,281 = - $5,219,682
july 1988 : +50 % loss in 1 year
march 1989 : +50 % loss in 1 year
pretty consistent in the wrong direction...
Thunderdog,
When was the "timestamp, broker/moneymanager collusion" problem solved ?
Here are some extra juicy details :
"NFA fines Larry Williams for not reporting to potential clients that, while his personal account in a promotional 1987 contest was very profitable ( a gain of + $902,599 ), his managed accounts for clients lost substantial funds ( - $6,122,281 ). This...
I read an article that stated that 9 out of 10 pit traders fail at electronic trading because the edge they have on the floor is worthless behind the screen.
Let me look it up...
I had a discussion with austinp about this already
http://www.elitetrader.com/vb/showthread.php?s=&threadid=126326&perpage=6&pagenumber=6
then I stumbled on an article of him that says the same thing
"A bid/ask spread in either case is never actually "paid" by any individual."...
Here is one without requirements of US-address but hefty fees
http://www.accentbanking.com/fees-and-limits.html
E-trade is another possibility but no VISA debit card anymore for foreigners