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tctrader, Your post: Blackwood details for anyone unlucky enough to need them Their general number is 212 847 4000 Manager is Craig Schlifstein 212 847 4002 craig@blackwoodtrading.com FinOp James Wong 212 847 4007 jwong@blackwoodtrading.com Clearer is Penson NASD...

Manrico Scremin said: Perhaps the representatives of professional firms could give us some data on income distributions for their firms. E.g., what percentage of their traders year to date have made: - less than $0. - $0 to $10,000 - $10,000 to $25,000 - $25,000 to $50,000 -...

Tony, Post anytime.........freedom of speech makes America great! Gene Weissman Lieber & Weissman Sec., L.L.C. gweissman@stocktrade.net

Try www.tigerdirect.com . They have a great selection of flat panel monitors. Gene Weissman Lieber & Weissman Sec., L.L.C. gweissman@stocktrade.net

Just a note. The software(execution & charting) used by professional traders and firms, depends on the trading that the firm does. There is really no "best charting" package or "best" execution system. A direct access system rated best by BARONs , may not be the best for your individual needs...

marc lehman, Their are only about 10(or less) LLC trading firms in the country that cater to professional full time traders. Don has estimated that there are approx. 10,000 full time stock traders in the US. In a "bull" market the number of traders may increase. The...

Don, I believe you are correct. The professional trading LLC's cannot have members that are "customers". We may take a LLC (one or two members ) in for tax purposes , if our compliance officer checks them out and they meet the necessary criteria for membership in our firm. Mulitiple...

Just a note. I don't think it's fair to start rumors a firm is closed or say they are closing, unless they are in fact closed . Blackwoods website is still up and I heard their software was pretty good. I don't comment on any firm, since I am a partner in a firm. I just want everyone to be...

I can't give out names of traders or P & L since this is confidential information and I would never do this without anyones permission. But the example I gave is a real person and a true story. The conditions at the time were very favorable to traders who knew what they were doing...

TigerO, The best daytrader we ever had at Lieber & Weissman Sec., L.L.C. used to make Pizza's at his dads Pizza place in Brooklyn( he was also a computer programer). He turned 15k into 1.75 million in 1998 , trading an average size order of 200-1000 shares. Some of the worst traders we...

We do after a trader is with us for four to six months. Gene Weissman Lieber & Weissman Sec., L.L.C. gweissman@stocktrade.net

Turlo & TigerO, I'm not disputing the statistics of "studies" about the success of daytraders. But you have to understand that short term trading is high risk and it is a skill that can take years to master. So if I took all the traders that lasted one year, then two years etc. , the...

Vinny1, We always tell aspiring traders that you should only use risk capital and build your acct. over time. The traders who listen to use , will lose a little or break even at worst . The traders who gamble will be gone in a week. Those traders who survive the first year, have an...

TigerO, From the prospective of a firm owner/partner, I would say that the big firms are not hiring, they are laying people off unless you are a Sales/Trader with a book of clients or you can bring alot of money over to a hedge fund. I am in the same Building as Van Der Moolen...

Treykool, You said: Based on my resume (Princeton grad, 3 years at major brokerage firm) I was offered the following: 97% payout $0 capital requirement $0 ticket fee $0.0080 per share (no minimum) $45 per 1500 share married puts $0 monthly desk or technology fee Stock...

fkeane, We discussed this topic in one of the longest threads in Elite history. I feel the same way you do . If you have 50K in capital and you are a good trader keep 100% of what you make. Down the road, if you have access to a lot of capital and you can afford the 50K+ startup of a...

vikana, The investment club structure may be good for some, but how is the club taxed? Does each individual get a portion of the profits allocated? Is the investment club taxed as ordinary income? If the portfolio is "turned" over (daytrading or swing trading), how will the investment...

Treykool, If you include Stock Market Making Firms, Exchange Specialists, Option Trading firms and upstairs prop trading operations for well know firms like Goldman, Spear Leeds , Bear Stearns & hedge funds there are well over 100 firms in the NYC area alone. These firms are true...

I think there is some confusion about L.L.C.'s. Trading L.L.C.'s like Lieber & Weissman Sec., L.L.C. are usually not members of the NASD are are not affored the SIPC coverage. Trading L.L.C.'s do offer advantages for the independent professional trader that include Broker/Dealer margin on...

AnonTrader, If you are a trader with a proven track record, you will get hired. The problem with prop traders is that most go from firm to firm and lose money. Most prop traders with a good track record stay where they are or have money to put up(capital contribution)at a firm like...