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Greentrader tax website gives a good discussion of this. It would seem, if as they say, the 2000 ruling allowed the LLC format, that they wouldn't be terribly likely to change their minds based on SS. I agree tho that SS will not back off. I worked for him too and he is a very...

"are you with...." I have been trading with Echotrade since Aug. I traded with Schonfeld in Chicago in 95/96 before moving to NY for what at the time seemed "a job I couldn't refuse".... ( i was wrong....;)

To echo Don's point, I did get a call from the Schonfeld people post expo and they were less adamant about this issue...more of "will check further with compliance to find out" kinda attitude. DKS

.... a little dense here, exactly what are you referring to.? the leverage or s. schonfeld?

Yes, greentrader is a bit too pushy for me - on the LLC etc. But I am trying to find out as much as I can about this prop firm leverage thing. Interesting thought that maybe Schoney himself is the one nudging the SEC.

Thank you very much for that intelligent and useful response. Denise

As to the long/short issue, ETG was monitoring that very thing way back in 1995. In fact to be doubly safe, regarding whatever rule it is/was that this practice is/was trying to address, there was a movement that prevented different traders from trading same stock. At that time I left and went...

Did anyone listen to their talk on TH about the SEC and prop leverage? If so, what did they say? Schonfeld is out there saying we should be 'concerned' and I want to evaluate the truth of that admonishment. Thanks, Denise

to surfer's point - yes i used to sit in the room with at least one multi-millionaire who made his money right before my very eyes. this was is 95-97...... steve schonfeld himself is one of the smartest guys out there when it comes to how to make money from and through short-term trading...

Wasn't Schonfeld trading 100 million shares a day back in 96......??

I started with Echo in August and have great support from the trade desk, the help desk and the office manager. It is true that as of this moment, they do not provide any training other than what an office manager will give you in operating the software. Predator Pro appears to be a...

The advance decline is the number of stocks up and down on the day. The tick is the number of stocks on an uptick or a downtick at every given "moment" (ie not sure if they calculate it with every change or every 3 seconds or what). Does that help?

I too had an interesting experience at the booth - as a result, I emailed Rosemarie I believe it was - and have yet to hear back.

Then again, it depends on the definition of 'customer' - which is beginning to sound like 'what the definition of is, is'......

Thanks Don -

metoxx - thank you for that reply - denise

....that isn't what some very knowledgeable and experienced people in this business say.... also, i have much more intraday currently..... and have been in the biz on and off for almost 10 years.... knowing Bob at ETG and Eddie at Bright and .... I could go on and on..... it is often...

Don and others - What I want to know is the REAL answer to the rules/laws/guidelines regarding intraday margin for a trader who has a Series 7 trading in a proprietary firm. I would imagine anyone here running or managing such a firm knows what the rules/laws/guidelines are. Another...

Tell me more about Schonfeld's challenge - don't quite get it? Sorry

Does the payout agreement have any bearing on the government's guidelines regarding this? IE does it matter if the trader takes 100% of both profits and losses?