I have no connection to Swift other then working with them as an owner in MTL for 2 years and seeing what NOT to do in a biz. As far as Broadway none of the past management are involved in the new venture.In fact I brought BW into Canada 9 yrs ago before moving to REDI PLUS.As far as Schonfeld they are a great reputible firm in the US.Has anyone ever used their new treading platform.
Golden Market Management
- Thread starter axehawk
- Start date
- Status
Is anyone trading for credits plus P/L if possible.This is done with cheap stock where traders bid 50k on each ECN for the credit and offers the stock right bk out hoping to get a further credit.
I don't know the exact agreement terms between this Broadway office and Schoney, but 3 months before to close this office, Schoney have do a partial integration of this office at Montreal. In this period, many technological problems have been seen, the technology of Shoney was not reliable in the setup of this office. Because the daytraders of this office cannot tolerate these problems, the compromise have been to keep the two platforms for sometimes and this is why the Broadway technology and Schoney technology have coexist. I have used the both, and I can said that Broadway was more reliable at this moment.
In this period, many traders have exceed their margin (without lost) and the regulator have send some fines about this irregularly. The next week the office has stopped the activities!
Just a note advising that GMMI added a new model which charges next to nothing per trade and pays out 50%
Do these people call themselves traders? Seems like a gimmick to me and doesn't require any knowledge of the stock market. Plus, it sounds boring as hell! What happens when they do away with rebates and these people never really learned how to trade? It's better to learn how to trade real stocks instead of learning these rebate gimmicks, regardless of the money involved. It will pay dividends in the future by helping one become a real trader.
Sitting on the bid and offer all day long in a flat-lining, super-liquid penny stock with a penny spread is enough to drive anyone nuts! And if the stock moves a cent or two against you and your 50K share position, you've wiped out several hours of "work"! And I still see traders trying to work their way out of a losing position by offering stock out because they want the liquidity rebate, instead of just hitting the bid! They sacrifice a few extra cents by trying to offer stock out when they would have been better off taking the liquidity.
What's the point?
Goldenarm give me a break. We have some of the best traders in N. America. We use the rebates to keep ourt costs down to nothing.We have our own alert system that advise us of certain patterns and breakouts.Futhermore a model where you pass on all the true costs and split the profits is the best deal out there. As far as the deal ALONG with the no charge model and 35% payout there is a small charge model with 50% payout(all ecn rebates etc) this is geared for traders doing lesser trades per month seeking a higher payout. Both deals r the best by far in the industry PERIOD.
The best NON traders who do BID/OFFER only make 75k+ a month.Not bad for "non traders" huh???
- Status