Search results

our office is moving on June 1. The new traders have been told theyre getting their capital refunded at the beginning of next month.

have you ever traded professionally before? i dont think so. your question tells me that you are not in the industry

I really doubt that any *FIRM blew up. maybe a trader or two but it happened so fast that I doubt anyone got crushed. 3 min straight down, 3 straight up. I know that our software locked up and for the majority of the move and all we saw were stale quotes so very few people capitalized...

Lynx is the NYC trading group for Assent LLC. Its basically just a division of Assent, which is it's clearing firm. just do a search for that and and youll find plenty of info. theyre good by the way.... morning meetings and reviews of trades and theory at the end of each day for...

i think your trying to make a divide that isn't there. at the vast majority of prop firms u are trading your own capital. youre never really trading the firms as theyre just providing you leverage. u put up 5k, 10k, 20k and they provide something like 20:1 leverage. u blow out your...

yeah 8 per 1000 shares is expensive imo. i dont think youll find a much better deal tho if the firm offers an office in manhattan and training. Im willing to take on the pricier commisions if the environment is good and i have access to traders better than I... hell, i'd probably pay a...

seems like a bad deal... but if the training is really good then its worth it. 20k is kinda high to put up tho imho. are you talking in canadian dollars? (might be a stupid question) even so, still really pricy. a much more reasonable deal: 5k up front 8/10 of a penny commission per...

Like i said... i don't think this guy has traded a day in his life. Can you please tell me what something as simple as what lvl 2 data is? is it the data that gets lost in all of your "gaps"??? i'd be surprised if u had an answer for that that wasnt copied and pasted from wiki... by the way...

i started there a few months ago and was actually quite happy with the training at lynx... throughout the day senior guys would come over and tell me about basic strategy (like block trading for instance) and explain how it worked. Yes they didnt hold my hand completely but they gave me the...

i interviewed with them first round they asked me: basic probability stuff (flip a fair coin x times...) they asked me basic option theory (shorts and puts, no straddles or spreads or anything like that, even tho its easy if u wiki it...) they asked me some exchange rate/ credit swap...

those aren't gaps... do you really trade??? Ive always wondered what percentage of ppl are real traders on this forum... I find that the journals are the only really worthwile thing to read... its just too much of a hassle for someone to make it up...

ill just make sure to look over the contract closely.

i think i looked into this and the licensing fee series 7 membership for an LLC is like 5k. ill look for the link if your interested.

haha well hopefully my psychological damage that i took losing money in the past will shorten my learning curve. who knows but ive seen thousands flow out of my account in a day only to see it trickle back in over the next week. u know i hit the bar that night... yeah the bulk of my...

@R. Raskolnikov good post. its always good to hear from people who have been there. ive traded my own personal account for about 3 years now and ive been pretty consistent. by consistent i mean on average i made money. I would make a ton some months and then lose money others. thats...

the unemployment is coming from my previous employer

probably not FINRA but the prop firm may declare me as an employee (if thats how the structure works). This would go into the national list that the Dept of Labor has access to. my concern isnt getting caught... if its legal ill do it. if its not legal but i probably wont get caught, i wont...

@R. Raskolnikov not using them to fund a trading account. I have accumulated savings and want to take a risk with my life... 5-10 years from now ill have a wife and probably a kid or two (god willing) and won't be able to take risks. most of my savings will be tied up in my trading so...

thanks for the reply. ill look into that a little more. I tried calling and explaining to them but the unemployment clerk had no idea what i was talking about... There is a spot where I declare income from self-employment and am payed out the difference. i guess im gonna have to talk to...

point taken. ive never considered myself average so hopefully this won't be an exception. getting back to the original post and question: what kind of tax forms do you get at the end of the year in a prop firm? W2's? k-1's? does anyone know the legal status of someone at a prop firm...