Creating a Group for lower fees

I agree with you Anonymous Trader.
Hold only has conversions for homebuilders?? WTF are you talking about AutomatedTrader. Don't know where you're getting information from, but's it's crap.
 
Quote from AutomatedTRader:

Hey everybody im surprised u didn't catch on that SitrusTrader is just recruiting for AN LLC of HOLD Brothers....u can verify this by checking what software the company uses that Sitrus Trader is promoting..even if they changed the name and call it Lightning or something else...its still Grey BOx with the name changed. Why don't u ask Sitrus how much buying power do they give you ..when i spoke with him he said 250-300k they give on 5k. That is very weak and the answer is b/c HOLD brothers has no capital to give traders serious BP like some other firms. This is exactly what characterizes a chop shop..when they don't have enough money to give out normal Buying Power. An other major question should be asked...does this place offer conversions in every sector?? As far as I know HOLD has conversions only in the homebuilders. An other point that shows that they don't have the funds for conversions in every sector. Make sure they don't hold your money...The best thing to do is not deposit with anyone but to create an escrow account with a lawyer where your money will be held, where the firm will only be able to touch it if your down in your account. A firm that is healthy and has enough funds won't need your 5k...but can afford to let u keep your 5k in a seperate escrow account. And as far as comm go..I don't think that HOLD brothers is that much cheaper than everyone else..I know a few places where u can get very close to what they offer ...but u also get normal BP and well capitalized firm so u don't have to worry about your money
More...

Let me set the record straight.

First of all: I am not promoting for any firm. As a matter of fact several people from other firm contacted me and I tried to entertain their offers, including this one. (I actually alluded to Automated in one of my previous posts, please read about accurate info). However, most offers were much worse that the one I got from this one - but that is for you guys to decide.

The matter of the fact is that this firm has nothing to do with Hold Brothers, they are self clearing, and you can check that on NASD registration info.

Buying Power - this is a complete fallacy. I never said anything except what I got from the rep, and that was 4:1 to 10:1 and for anything higher, you need to talk about it with them directly, not to me. I am, by far, in no position to do anything about that. As a matter fact, I know that they are pretty conservative on the BP issue.

This guy Immed me to ask about the firm, pretending he wants to join. Then he tells that he heads a group in ECHO and that all other firms are garbage except for his, then accused me of some other terrible things, tried to recruit me and now, trying to do the same again with you. Then he threatened to "expose" the firm that I am in contact with.

"Expose" all you want, and everyone is welcome, just do so with truthful information, not because you feel that there is competition in the market place and you want to get more people to pay higher rates at your group.


I hope I made it clear, If you have more concerns, feel free to PM me or post here, I will reply as best and accurately as I can.
 
Sitrustrader......your motives seem honorable, and as far as the private issues happening here to you, don't play into it....just ignore it and try to get your group together.

Good luck,

I am not considered a candidate to your group as I do not trade enough, but I follow this thread with interest. I like to see the small guy have the freedom to organize and build, instead of being controlled by the larger big company, inc.

Good luck to you folks and post how you are doing with your co-op...after you get it going.

When I retire one of my dreams are to participate or to organize a room of traders in a co-op fashion...

Michael B.


Quote from SitrusTrader:

Let me set the record straight.

First of all: I am not promoting for any firm. As a matter of fact several people from other firm contacted me and I tried to entertain their offers, including this one. (I actually alluded to Automated in one of my previous posts, please read about accurate info). However, most offers were much worse that the one I got from this one - but that is for you guys to decide.

The matter of the fact is that this firm has nothing to do with Hold Brothers, they are self clearing, and you can check that on NASD registration info.

Buying Power - this is a complete fallacy. I never said anything except what I got from the rep, and that was 4:1 to 10:1 and for anything higher, you need to talk about it with them directly, not to me. I am, by far, in no position to do anything about that. As a matter fact, I know that they are pretty conservative on the BP issue.

This guy Immed me to ask about the firm, pretending he wants to join. Then he tells that he heads a group in ECHO and that all other firms are garbage except for his, then accused me of some other terrible things, tried to recruit me and now, trying to do the same again with you. Then he threatened to "expose" the firm that I am in contact with.

"Expose" all you want, and everyone is welcome, just do so with truthful information, not because you feel that there is competition in the market place and you want to get more people to pay higher rates at your group.


I hope I made it clear, If you have more concerns, feel free to PM me or post here, I will reply as best and accurately as I can.
More...
 
Quote from AutomatedTRader:

Hey everybody im surprised u didn't catch on that SitrusTrader is just recruiting for AN LLC of HOLD Brothers....u can verify this by checking what software the company uses that Sitrus Trader is promoting..even if they changed the name and call it Lightning or something else...its still Grey BOx with the name changed. Why don't u ask Sitrus how much buying power do they give you ..when i spoke with him he said 250-300k they give on 5k. That is very weak and the answer is b/c HOLD brothers has no capital to give traders serious BP like some other firms. This is exactly what characterizes a chop shop..when they don't have enough money to give out normal Buying Power. An other major question should be asked...does this place offer conversions in every sector?? As far as I know HOLD has conversions only in the homebuilders. An other point that shows that they don't have the funds for conversions in every sector. Make sure they don't hold your money...The best thing to do is not deposit with anyone but to create an escrow account with a lawyer where your money will be held, where the firm will only be able to touch it if your down in your account. A firm that is healthy and has enough funds won't need your 5k...but can afford to let u keep your 5k in a seperate escrow account. And as far as comm go..I don't think that HOLD brothers is that much cheaper than everyone else..I know a few places where u can get very close to what they offer ...but u also get normal BP and well capitalized firm so u don't have to worry about your money
More...


Hmmmmm...

AutomatedTRader
Member

Registered: Dec 2002
Posts: 34


02-20-04 03:44 PM
REMOTE @ Generic
I trade remote in Generic (mostly listed)...I never feel any lag ... I think its a question of how you are connected. ..I have Optimum online cable..which is even faster than T1.


AutomatedTRader
Member

Registered: Dec 2002
Posts: 34


02-10-04 07:03 PM
ECHO
YEah but the problem with ECHO is the software is not as good as Generic..and they dont have MOC orders


AutomatedTRader
Member

Registered: Dec 2002
Posts: 34


02-09-04 03:06 PM



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Quote from realstockaddict:

I got a reply about group rates from a west coast firm branch . Very low and even offering a rebate check of 4k monthly. But this I think will obviously apply to volume traders only. Nevertheless maybe we can come to an agreement. Between .003 and .004 for volume. I got a few contacts who are willin to band who all do 40K + daily. This might be a great opportunity to get togehter with 5 or more remote traders... Was with Generic before and wasn't too happy with them so I want to go somewhere else.
--------------------------------------------------------------------------------



Hmm i wonder whats not to be happy about with Generic...they give like 4 softwares to choose from, Their tech support is great. and their rates are low? what didn't u like??
Ive been in Assent, Generic...I dont even bother to mention other firms b/c the only real competition is Assent and Generic...and Generic kills the competition these days by far.
 
I have not even read the middle pages of my thread.

But as I mentioned to Don a long time ago when he mischaracterized the firm I was running/owning, I was going to start a great remote trading firm and beat him at his own game.

Well, I no longer have an interest in the venture. (I could not put in the time) but a former trader in my office has built out his product. It has gone through months of testing with live traders. And my friend told me he is now using his own money.


Most of the live traders were trading with them because there is a trader who has a internet chinese trading group and they like the leader so much some were willing to early adopt the software.

My friends designed a charting, scanning, and order entry software as a front end into a top clearing firms product.

If you guys want to form a group, I think I can get you a tremendous rates for a great front end into a very well respected clearing firm.

By the way the scanning software is still being developed but it has some great volume studies and swing trading scans already.

I do not believe this is a commercial message because I have not negotiated anything for myself with my friend. I hope he does great with his venture, and from what I have seen his software is ready for prime time.
 
I don't know about the rest of generic, but i was with carlin and my experience was horrible. The carlin software lagged horribly and I could not get executed on NY fast enough. I do not konw if it was the specific office or what not. The guy who ran the office lied about the t1 and everything... Anyways the experience was really bad, will not go back to carlin/generic again.

The system crashed every other day and the whole office was on dsl for a week even... Very unprofessional. I was also promised a certain buying power that was never there. The buying power flucuated very day. Also I caught them changing my commisisons without even telling me. ONe day i manually calculated my pnl and they had raised my commissions wihtout telling me. I am just speaking for myself and my experience. I believe if someone has a bad experience with a firm, its fair for other poeple to know about it.

Anyways sitrus trader, i have been planning to band together and i still have not found a home. I am still curious on finding mroe information on your "deal". Thanks.
 
Hi,

Many of you asked me about what filters the software has. As I understand not too many.
For many of us it is very important. Let me know either here, or in a PM which filters you are interested it - the rep told me that they will do their best to program them in.
So far I told them (by popular demand) about stocks setting new highs, and new lows.

Anything else?
 
Quote from SitrusTrader:
This is what i was thinking. If we can get a group of traders, we can get really good commission rates. I currently pay WAY too much per share, however, I found out if I do over 1/2 mill a day in shares - my commission will be very low. (at another firm) There is no way in hell I can do that alone - however, if there were a group - they said they don't care, the sum total is all that matters. What do you guys think?
More...

I am gonna ask, what I am certain, is the question on everyone's mind. Do we get free coffee in the trading office?

OS
 
Retail traders would necessarily not be part of such a pool. They just get the advantage of a low "group rate" by association with the group. "???????

So, they get 4:1 based on the capital they bring, but its not pooled with the group. however, they are "part of the group so they can take advantage of the low rates.? HUH

And possible 10:1 leverage?

Ok, I have my own LLC with a partner. I clear throught SLK....10:1 leverage is not easy to get without a track record and some serious margin requirments, which are far more strick than the standard set forth be the SEC.

Sorry guys....im not trying to be funny, but i call BULLSHIT on this.
 
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