Me personally, I have no problem with you sir! I am sad to see you lost a lot of money! I just don't understand this "prop firm" thing! I thought the idea of a prop firm was that you traded OPM. But you are saying you lost tons of money at a prop firm! It does not compute logicically in my tiny head. And now I crave biscuits. wtf.
can i trust lightspeed with my money?
- Thread starter yamin2000
- Start date
Me personally, I have no problem with you sir! I am sad to see you lost a lot of money! I just don't understand this "prop firm" thing! I thought the idea of a prop firm was that you traded OPM. But you are saying you lost tons of money at a prop firm! It does not compute logicically in my tiny head. And now I crave biscuits. wtf.
Single amounts. Yes. IB for all accounts, no.
The absolute risk on insuring all brokerage accounts though, not viable. Insurers invest the float, they cannot also insure investments while investing the float. Oddly there's a gap I insurability between partial losses and total loss...which is to say, you can insure a small amount loss, or a total loss, but nothing in between. (Which is to say, when a loaf of bread costs $1 million, there's no point in filing a claim for 50 loaves of bread)...see: third Reich, 1936
Why you little shit, you know how many buttons that pushes OMG frozen pizza frack you hate.
There is no protection. Read about what happened in Cypress a few years back. People with millions of dollars in an account assume the bank won't have a liquidity issue, and for the most part they are right, until one day, when they are wrong.
But the bank was based in Cypress? What protections did that bank have...Do we have the same protections (or better), would they be enforced yada yada yada.
Yeah, the per account thing is possible. But no, no insurer offers this as a blanket coverage to all customers of a broker.
Prop firms offer insane amounts of leverage, but its still your money. Back when i was systems trading i needed 100 million dollars just to float orders, every day there is no way in hell a place like IB or any other place that is insure would do that. I NEEDED the buying power, what i was trying to say before this argument is if you dont need insane leverage dont go to a prop shop, cause they can fuck you. But yeah there is 1 massive benefit with prop shops, once they get to know you, buying power is just a number they need to change, they only need cash for positions, but in terms of floating orders, they could have set the number so i could float a billion dollars worth of orders it wouldnt have mattered. That was why i was there, i needed insane leverage to float orders as a systems trader. Then went in one day and it was lights out.
Get your facts straight man. Lloyds has for years insured the entire brokerage accounts of IB clients. Look up past news releases. This is indisputable. Well IB stopped and now it's different ways to maximize safety.
There's biscuits, and then there's biscuits. As retail chains go.... Hardees has the best. However, if you ever grace the great state of WV.....
I'll give ya pizza seein as how you're a (damn)Yankee.... but as biscuits go.....these are by far and away, hands down....the worlds best. Why someone has never taken them nationally is beyond me.
https://www.eater.com/2016/6/29/12007048/tudors-biscuit-world-west-virginia
Best breakfast in the Continental 48.
*shrugs* Learn the futures, trade 10 ticks here or there, can make $1,000 per day if you are adept. No need for all that fancy stuff you speak of. Can do it with a small account, too. Mea Culpa that nobody cares to acknowledge it. Like some long-lost secret that nobody is willing to share, and that people will get bullets in the head by the government if we do. WTF people, it is so easy, a caveman can do it! (Well, not really, but you get the point).