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Yes, that's correct. A trader's capital contribution becomes "firm capital" which the firm can include in maintaining their net capital requirements. Echo listed over 20 million in member's equity according to their latest annual public filings with SEC. Even the CBSX firms that aren't as...

Check out AMP, they offer a free sim account using Ninjatrader. http://www.ampclearing.com/ninjatrader_cqg.php Test your strategy and see if you can make 1 pt/day in sim before putting real capital on the line. Best of luck.

So what about all the "true prop" model equity firms in Chicago besides Tower? There's always heated debates on Elite with traders claiming there aren't any true props, then Maverick posts the names of at least 20 firms on another thread. Certainly not all of those firms are restricting 5...

There will always be "doom and gloom" during periods of uncertainty. The summer doldrums usually provide the better entry points for investors, and eventually the market comes back. I encourage those reading this thread to see the film "Margin Call." The dialogue towards the end of the film...

The Series 56 only applies to firms that are CBSX broker-dealers, of which Chimera is one of them. It requires sponsorship after you clear the background check through DOJ, so you can't take the 56 on your own. Trillium used to be a FINRA firm, and now is a private holding company, so unless...

I'm not sure about a "crash", as the market tends to inflict the most pain to both sides, long and short. Thus far the shorts have been right from 1,400 on down, but the appeal to short may dwindle as the S&P approaches flatline of 1,257. For an investor, election years are usually bullish...

If you're going to spend the time and cost to fly to Chicago, then you may want to inquire with other firms to compare. Maverick posted a list of Chicago firms on another thread, check it out. http://www.elitetrader.com/vb/showthread.php?s=&postid=3477830#post3477830

Perhaps they should just reinstate the "uptick" rule which was removed in 2007 (coincidentally with the top of the market). At least with the uptick, the bots can't just slam the bids to knock it down, and have to match their orders with the ask. Instead of having the uptick for stocks...

Good call, today the shorts were able to hold their intraday positions, as there was no recovery whatsoever, very bearish indeed.

Thus far the 1,293 level of Wave [I] top has held twice. The volatility is acting up, and the price action suggests the shorts aren't being allowed to hold their gains beyond intraday, providing an edge for the longs. Is there a specific target to monitor where you would consider a...

Yes, good points. From the Facebook registration statement (publicly available), there are HUNDREDS OF MILLIONS OF SHARES coming to market after the 90th trading day, all the way to one year out. Until then FB is a trading vehicle. Just look what happened to Zynga (ZNGA) when their lock up...

If they're not marking up commissions, then it's possible you're trading a master account with an LTA (limited trading authority) agreement, either as an independent contractor or employee, and splitting the profits. As Sgt Slotter pointed out, if they're marking up the commissions, then...

Sure, but honestly, I only went through the chapters regarding dilution and shares eligible for future sale. There's probably a lot more to consider in the 150+ pages of fine print. At least on Tuesday May 29th the options begin trading, which should be interesting to see how they price the...

OF COURSE the insiders did well, and the public got fleeced, that's the whole point being made by the posts on this thread, lol! By the way, how much did YOU buy in the pennies, b tch? LOL

The 56 applies to traders who join firms registered with CBSX, whether you are contributing capital or not. Some additional questions you may want to ask: Is there an "education fee" masked as a capital requirement? Is it an offshore firm that allows for remote trading? Are you...

According to FB's registration statement (publicly available) 180 million shares were sold by Facebook, and the other 241 million shares by "selling stockholders" (read: those who got in BEFORE the IPO). Average price paid by existing stockholders: $1.11 Offer price to public: $38...

"Adding" liquidity is when you BUY on the BID and SELL on the ASK, in other words, you're "adding" liquidity to the market. "Removing" liquidity is the exact opposite, it's when you BUY on the ASK and SELL on the bid. In each of these cases, you are taking liquidity away from the market and...

Ok, got it, thanks.

Since you're looking to get hired, I'd find out if the following post is accurate (from the link you provided). Once call to the firm and you'll probably find out more info. If they're not hiring, then it won't matter to you what they've got on their balance sheets. If the comment below is...

I agree with your logic, however I'm still trying to differentiate between corrective wave patterns within the context of the larger timeframes. If the original Elliott Wave count began with the October 2011 lows, my understanding was the wave count remains intact so long as the TOP of Wave...