Quote from CQNC:
OK, I will. I don't think my calling you out makes me childish. I think that's what you're claiming to do to DB, isn't it? Quid Pro Quo.
THIS is why you're sandbagging DB. The truth comes out in the strangest ways.
Sorry, I don't buy your explanation. You're full of shit. You know all this, you claim to be (one of) the most experience, knowleg...blah. blah, blah...traders here, so DB's model should not concern you.
If your "buddy" had a problem with DB, it's probably because he couldn't make the cut, and he isn't smart enough to work through it himself so he has you doing his dirty work.
I can read and reply to any post you or anyone else can, I don't need your permission or endorsement, and I don't have to agree with your or DB or anyone else, and neither do you I.
I'm taking The First on this one, so until you post something intelligent concerning DB's model, yeah, I'm pretty much ignorning it, as should most of us on ET. DB's wasted enough of his time explaining how it works here. Most of us figured it out 30 pages ago...
Quote from byteme:
On the 50k account, to get the same 300k i.e. 6 times, the vig is zero according to what Don has written.
Quote from Maverick74:
Although I think Don owes you a beer.
Quote from taclander:
Try going to a bank and explaining this stuff and getting short term loans to cover yourself for trading. While I have thought about it; as I have a fairly detailed trading plan, I really have no need to have them call the county mental institution and haul me out of the bank, and have the story on the local news.
Quote from Maverick74:
Alright guy. Looks like it's time for you to hit the unsubscribe button. You are getting way too worked up over this. It's a message board....relax. LOL.
And for the record, I know very little about Don's model as it has changed dramatically since I last spoke to Don in person. Obviously this new 80/20 rule just came out and it is affecting all firms differently. And again, I'm not sandbagging Don. Although I think Don owes you a beer.
Quote from taclander:
Good thread. I have read the material on the VTrader site on Haircuts, and that was helpful also. Obviously if the charge gets to the point of being loan shark like then it really isn't worth it, but each trader should be responsible for finding out how it works and what their costs would be based on their strategy. I maybe wrong, but I think both Mav and his firm, and the Brights would make sure a new "hire" understands the cost of trying to go to the max, or most likely wouldn't let them in the first place until they proved their strategy. Everyone needs to have an idea of cost of capital and how it affects your return. The other side of the equation, to me, is being able to expand your trading to strategies that need much larger capital than a retail firm can do, even IB. If I want to participate in opening orders in a meaningful way it seems I would need a fairly large base on my own, but have it if I am with a firm. The same applies to closings, or pairs. Try going to a bank and explaining this stuff and getting short term loans to cover yourself for trading. While I have thought about it; as I have a fairly detailed trading plan, I really have no need to have them call the county mental institution and haul me out of the bank, and have the story on the local news. While my wife would actually just laugh, it probably would really tick my Dad off and at 88 years old I've given him enough frustrations and annoyances in life.
That being said I still haven't done my Series 7 studying, and for the majority am still a emini, and EC daytrader. Any thoughts from Mav or Don whether I need to buy new Series 7 material in light of regulatory changes? Mine is 2-3 years old now. I took a sample test when I got it and scored in the 60's before having read a thing. I admit I don't know my bonds material as well as I had in school decades ago. It seemed like regualtory was a good part, but you could pass without being perfectly up to date.