That's disappointing to hear about Echo. I wonder how many guys that went to T3 know about the T3/Chimera ordeal, after that I wouldn't trust T3 with my money. Sounds like this prop model is dead, I wonder how long the others will last.
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EchoTrade - what's up with them?
- Thread starter EvOTraderV2
- Start date
Some ex-Echo guys have decided to join us in the last couple of months, and we're glad to have them. We, of course, offer the most similar trading program to Echo, and we are more than willing to work with their guys.
I really can't say much more here of course. Except to wish Jeff luck with his campaign for public office, and Rob with everything in his life going forward.... both great guys.
All the best,
Don
I really can't say much more here of course. Except to wish Jeff luck with his campaign for public office, and Rob with everything in his life going forward.... both great guys.
All the best,
Don
It seems t-3 has taken over whats left of the industry as they have over 400 traders all over the world now and a 1000 guys in there virtual trading room. I think smb is trading out of the offices in ny city now but they're smart as heck as they've gone mostly to the educational side for all different types of trading. They've also broken down there virtual trading rooms so now you can subscribe separately to rooms that interest you like traders who only trade the open to swing traders who hold for days to option only traders. all I can say as many traders struggling there top trader marc sperling using no automation and only his key board trading is the one of the best traders on earth holding some positions for weeks on end hitting 50-100k days like candy.And he's one of the few traders who's been doing this since the late 1990's yr after yr after yr.But he's an exception to the masses Don god bless you how you can still suck from 1/2 a penny to a penny a share fro traders. You must have all traders that swing for days at a time as most traders hitting100-200k shares a day would be hurting with those fees,
Quote from hafez50:
It seems t-3 has taken over whats left of the industry as they have over 400 traders all over the world now and a 1000 guys in there virtual trading room. I think smb is trading out of the offices in ny city now but they're smart as heck as they've gone mostly to the educational side for all different types of trading. They've also broken down there virtual trading rooms so now you can subscribe separately to rooms that interest you like traders who only trade the open to swing traders who hold for days to option only traders. all I can say as many traders struggling there top trader marc sperling using no automation and only his key board trading is the one of the best traders on earth holding some positions for weeks on end hitting 50-100k days like candy.And he's one of the few traders who's been doing this since the late 1990's yr after yr after yr.But he's an exception to the masses Don god bless you how you can still suck from 1/2 a penny to a penny a share fro traders. You must have all traders that swing for days at a time as most traders hitting100-200k shares a day would be hurting with those fees,
Doesn't T-3 charge even MORE then Bright? I heard a LOT more. I give credit to T-3 for trying to evolve with the market. Don's operation is pretty much doing the same thing today they did in 1999. No offense Don, but this is why companies have young guys take over the ship and run things. At the end of the day, I guess the education model is the most robust because it can't really go away. I mean there were still people selling "how to buy real estate with no money down" seminars in 2008 all while the housing market was crashing. Just look at the explosion of trading books on Amazon compared to 10 years. The thousands of trading blogs. Everyone is trying to pitch and sell something. Hell, the most successful guy here at ET is Baron. He sells advertising to the guys who sell the education. Just a derivative of the pitchers.
Quote from DT3:
From my understanding of Dons posts Bright took over Echo..
Didn't know T3 allowed overnights maybe just for select traders? And their commission rates is ridiculously high I was quoted $7.50/1000 when I spoke to them a while back.
Yeah when Don said he had a confidentiality agreement with Echo he pretty much stated he took them over. Why he can't just say that is interesting. The more this industry consolidates, the worse it is for the trader. Less choice is not a good thing.
Quote from hafez50:
It seems t-3 has taken over whats left of the industry as they have over 400 traders all over the world now and a 1000 guys in there virtual trading room. I think smb is trading out of the offices in ny city now but they're smart as heck as they've gone mostly to the educational side for all different types of trading. They've also broken down there virtual trading rooms so now you can subscribe separately to rooms that interest you like traders who only trade the open to swing traders who hold for days to option only traders. all I can say as many traders struggling there top trader marc sperling using no automation and only his key board trading is the one of the best traders on earth holding some positions for weeks on end hitting 50-100k days like candy.And he's one of the few traders who's been doing this since the late 1990's yr after yr after yr.But he's an exception to the masses Don god bless you how you can still suck from 1/2 a penny to a penny a share fro traders. You must have all traders that swing for days at a time as most traders hitting100-200k shares a day would be hurting with those fees,
I don't think SMB is using T3 as their broker dealer any longer, I think they are now affiliated with Kershner (sp?). The fact that GMAN left SMB should tell you something about the structure there.
The virtual trading floor is alright, I subbed for 2 years on it. Sperls is the only one worth listening too if you ask me.
There are a few guys that participate on the VTF (where it shows their positions) that are complete jokes. Rob doesn't even trade his own strategy that he preaches about, and if he does it will be 100shs. But he has the balls to get on other people on the VTF (sperls redler) about their trades and if they just followed him they would be making millions but he hasn't made $1 trading his strategy. His strategy is basically play the break of an inside 15 min bar. The beauty of this is he is able to cherry pick the ones that moved a lot. He basically has the best time machine of all time. Anyone interested in more should google Project M.
Mike lee and Steve Levay are decent traders, mostly momo opens ect. I've seen some of their numbers and they do pretty well, if you ask them how much they made that will usually tell you.
Overall I likes the VTF for sperls and redler. Evan and Rich are ok too, they follow their active trader program pretty well so if you are brand new that might be a starting point, but sperls and redler kind of so their own thing, very similar to Oneil chart patterns.
But if you think about it, each month you have subscribers of $99 (I believe that's what I was paying) x 1,000 subs = almost $100k of monthly income.
I wonder if there is a way to check to see how much they are making off their services vs the trading income?
Anyone know what happened after that partner was sanctioned?
It seems that the only deposit required, equities focused, prop trading firms left are...
Bright Trading
Chimera
WTS and its subgroups like JC Trading
Hold Brothers
T3
When all is said and done it will be interesting which of them can remain in business. Some of them may have to move to a SMB training fee based model?
Between the industry regulations and changes in the markets...they could have difficulties for some time. I wish them all the best though.
Bright Trading
Chimera
WTS and its subgroups like JC Trading
Hold Brothers
T3
When all is said and done it will be interesting which of them can remain in business. Some of them may have to move to a SMB training fee based model?
Between the industry regulations and changes in the markets...they could have difficulties for some time. I wish them all the best though.
Quote from Maverick74:
Yeah when Don said he had a confidentiality agreement with Echo he pretty much stated he took them over. Why he can't just say that is interesting. The more this industry consolidates, the worse it is for the trader. Less choice is not a good thing.
What?!?!?! I just heard that US airways can merge with American. The judge said that they cannot prove that less competition will result in higher airfares, isn't this kind of the same thing? (Sarcasm)