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Well my sources today told me that Refco Brentwood had blocked people withdrawing from their accounts? So true or false. Let me guess I suppose it's the flipper's fault eldrechr. Face facts Refco is in trouble.

Are you sure you still have a job? :D

It just occurred to me that maybe the SEC, CFTC, FSA etc will start looking into other prop shops as a consequence of all this Refco madness. It could even force a crack down on the industry by the regulators. It could even transpire that others have been doing the same thing, I mean it would be...

If you know people who have been happy with them for 10 years then they are either suckers or they trade their own accounts because there is NO WAY that any trader I know worth their salt would accept the crappy deals so often talked about here. I am of course sure that the management are...

I agree 100%. Small chickens do shit too. GHCO makes loads of cash from comm.s etc and I bet that the bulk of their profits come from this business and not from good traders. They CAN and DO sue people even in London. They also have deep pockets so can chase you and drag things out in court...

I saw in a London bookstore this week that Nick Leeson has released a new book. Its a kind of cross between psychology and dealing with lifes stresses with a bit of reflection on the Baring's crash thrown in. It is quite interesting hearing his attitude after 10 years since. He spoke about his...

dsguns1 I understand where you are coming from and I do agree that many failed traders look for excuses, but at the same time I don't think that this is always the case. I have seen first-hand the way that some risk managers DO interfere with traders, newbies especially and in particular...

So is it safe to suggest that maybe you are bitter abiut not getting a prop deal, LOL? Let me guess GHCO rejected you and now you decide that you also reject them!!! The fact is that you came to Elite Trader looking for advice about prop deals, and people like myself were more than willing to...

You're right he started the thread about severing a prop deal, here was his post; "Would like to hear some comments on people who have or have attempted to prematurely sever their prop trading agreements, either with monetary provisions, time provisions, or any other restrictive covenants...

Well, well, well. You show up about a month ago eating loads of humble pie with your please help me with my prop shop search and GHCO interview questions and now you are potential Head Quant material. I quote you from the GHCO Interview thread of yours; " visited some places that didn't seem...

All of you just be glad that you are talking about a firm that can accept being criticized without having to threaten you all with legal action, LOL, unlike GHCO!! I don't know about RTS Chicago but everyone is entitled to their own opinions about their working experience with any firm...

I have actually seen 4 guys run up huge credit card bills as a means of funding their living (rent/food/mortgage) while trading at a prop shop without a salary. Even when they were getting destroyed by the market they never considered quitting, only when they could no longer increase their...

This is a perfect account of many suckers I know who still believe that their miracle will happen, hilarious quote!!

I started the thread because I have seen many friends, and a few foes LOL, leaving the industry in a steady stream the past 18 months or so. People I know who made steady money just stopped in their tracks and could not see why or understand how. Most struggling traders I know tend to become...

A question that I am continually being asked these days by both newbies and experienced (but struggling) traders is at what point should they accept defeat. I only recently realized that I DON'T know the answer to this question as I have always made money consistently and so have never been...

You seem to have difficulty with understanding my answer to another person's post, so allow me to walk you through the steps. Firstly, to get into D E Shaw you would generally need out-standing Ivy League credentials (FACT!!) and so if you sucked at trading then you would be more than likely...

Ok for a start a person who gets a job for D E Shaw in the first place will be the absolute cream of all the graduates that attended any Ivy league you care to list. They demand near perfect academic credentials, are a KNOWN NAME in the markets and are going to actually teach you a ton that you...

The problem is that it is impossible to predict the future of a place like GHCO. I have friends there who tell me that they are having quite a shake-up in the way that they do things. They may improve it or the changes could be damaging, either way it is impossible to predict what their future...

I agree and apologize for the confusion, its just that there are so many sarcastic "contribute-nothing" snipers in the waiting on most web-based forums that sometimes it is hard to distinguish between real posters and jerks. I was uncertain of your intent but agree with you that older traders...

I can hack it and still make money, although I am not what I used to be I still CAN make money. I wanted to teach/coach and trade at the same time; to teach properly you need to be active yourself. I like helping to bring newbies along, and for a cut of their p&l I would be glad to help develop...