***Yeah, but so would Bright. I know of someone who blew up their account at Bright.***
And my best friend at work was down 30K after commissions (but up before commissions), and Walter reseted his account to zero as he was about to leave for a competitor (from there he generated at least 50K's worth of revenue for the firm). You think Bob and Walter does this kind of things to "help talented young men"? They do it to keep their commission machines.
I know of no business who's business model isn't to make a profit. I assume that Walter would/has/does do it for a business reason as well - I have not seen him with George Soros recently at any of the of the Philanthropic parties.
I do not know the circumstances of the backing at Bright, but I can assure you, _AT_LEAST_SOME_PORTION_ of the decision to do it was hard a core business decision.
The environment got a lot tougher, I don't see anyone getting the same treatment my friend did, and I don't see Bright backing traders because of "talent".
The environment is what the environment is - it could be no other way. As far as backing "talent" at Bright, I agree that it is not done the way it is at Worldco, (whatever that way is) but I have no interest in this - remember, I am not selling anything, and I have >25K, so these issues don't affect me.
***The point is, I will end up with whomever gives me the best rates.***
Ahh, now we are talking.
***Since I am not a superstar, I will most likely have to settle for the typical .085c - .095c /share that most get.***
To get 0.9 cent a share at Bright, you need to do 400K a month, or 10K shares each way every day, at 500 shares that will be 20 trades a day. To get 0.85 cent a share you need to have double that. Is that the kind of volume you do?
10K a day at 2000 shares will be _5_ trades a day. I don't talk about the way I trade - but at 2000 shares, 10K a day each way would be a joke (I would be 1/5 of the way there just on OO)
***But one thing is certain, I would rather get my stake back to $25k***
Hold on a second there, sounds like you took a slight hit in your stake? My understanding is raising your stake back to 25K is not enough, afterall you are vulnerable to small losing streaks that whack you right below it. Realistically you need at least 30K in your account so one bad streak won't send you back below that dreaded mark.
You misparsed my sentence, although I should be clearer and say:
_IF_ I blew up and had no risk capital to trade, I would rather get it back up to $25K so that I could work my way back to 100% payouts. But again, this conversation does not interest me, as I have more than $25K.
***and go somewhere where I get to keep 100%, than a Schoenfeld or WorldCo deal where I get some percentage of my earnings.***
At Worldco, since you come loaded with experience, and you will probably put up some capital (not the 25K obviously, but something), I can guarantee 90%+, it is not "some" percentage, it is literally all of it.
Hitman, _IF_ I trade at Worldco, I would _START_ with at least 25K. I am only interested in what payout would be if I started with my money and risked my money, not Worldco's. Again, I know this is free advertising for you to all the undercapitalized traders that are vomiting having this stuff pummeled into their brains, but I will stop responding to these "if you put up this much, you get this much..." diatribes.
***2) But this would almost certainly be because of a commission/profit per share comparison, not because I couldn't come up with $25k.***
If you are putting up 25K (or something close to that), I will talk to Walter and we will let you have at least 95% of your profit (probably higher), what hell, if you are going to take the full risk we can let you have everything to and be happy with your commissions since you are pushing your size to 2K
NOW WE ARE TALKING, but you need to bring the number to the left of that percentage sign _UP_. Again, I would only trade with Worlco, if after doing some arithmetic, I would come out ahead. And if I traded at Worldco, and ECHO or Bright offered me a better deal, I would be gone so fast your head would spin, and vice versa. IT IS A BUSINESS TO ME, and commissions are _THE_ number one overhead - I go where it is the smallest for me.
And if you can show us something with your volume / record on it, we WILL BEAT ANY OTHER OFFER BY AT LEAST 0.05 CENT A SHARE.
Again, now we are talking. OK. Filed away.
And as I mentioned, many many times before, Worldco provides capital, Bright does not.
Don't care.
And you have the option of putting up half of 25K, or even quarter of it, show us your record, and still get a deal that is at least comparable to Bright's, and there is no desk fee, and your trading size will NOT be limited by your capital but your raw performance. (I have a guy on my team who traded 3 years before, couldn't show us a record so started with 200 shares put down 1K, he is already doing 800 shares 6 positions after less than 3 weeks, if he doesn't blow up by the end of the month he could see 2000 shares).
OK.
And while I am nowhere near Bob/Earl/Donnie's level, I am the only team leader on this planet who gives his real time P&L / position manager login to his teammates, everyone get to see exactly what I trade, how I trade it, and if you see potential in me, you know how big this could be a few years from now as I climb the ladder, and I am always there every day until 6-7PM.'
OK, I respect that.
Now I understand you may not even be in the New York area, since Don is still on the way for a speedy recovery I doubt anyone will complain to mother on a Saturday night, who knows, maybe someone else will be interested.
I am not in the NY area (I LOVE NY,) I am in Chicago. My wife would divorce me (probably not actually, but she would be unhappy) if I moved there. If it weren't for the school situation, we would be on as island, or Mexico, or Aruba, or I better wake up. I would go with whoever let me trade remote or let me open an office there.
nitro
