Madison Trading

Quote from brokerboy:

90% of traders who left wanted to come back at some point is pure bullcrap. i know 10 to 15 guys who left personally including myself. they are very one sided and most traders there do not make a living. i worked there and it was a dump, penny a share is pretty much true and you get 90% payout. they also charged your account a few 100 a month in fee's. the head traders in some groups don't make money alot of months but they get a salary so they stay. they also wait for you to resign til they finally want to make a better deal. they try to scare you from leaving with lies. i enjoyed my time at madison but they robbed you blind and its only a good deal for new or bad traders. i made money there but most did not. the problem is other firms offer you less then half there commission. they also don't charge you a few 100 in fee's a month plus they payout better.
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sounds like the same recipe for the other scally wag firms that churn and burn accounts and peoples nerves...

too many good candidates get caught up in these operations, and those comments are based on your comments and experiences


sounds like the criminal operation that Gary Mednick ran at Onsite Trading, no in their multiple reincarnations of the AB Watley name (how many different ABWG names have they gone through anyways)....

seems like its always run by the same worthless peoples....
 
Madison is great place to work. The building sucks, yes. The free lunch can suck, but its free. The commission rate sucks, yes. The no money down and health benefits, where else do you get that. I got my start there and have never worked anywhere else. I am net positive every month for the last nine months and pay my manhattan rent with no problem. I just started 13 months ago.

Grimer you've ripped on the food like three times and voiced no other complaints. Step up or shut up.

I really thought this site would be an interesting place to share ideas and learn from others, but all I ever read is people ripping on everyone elses trades, calling em bullshit, or dogging their firm. I have never worked anywhere else and don't pretend to know what goes on elsewhere. No one trades against me at Madison. We recently rebuilt are own filter there with ideas generated within our group, we put the effort in, because trading isn't easy, it is work.

 
Quote from simpleplan:

What is the women and food theory? It sounds intriguing.

How can you feel happy when you are poor?
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what do you need money for if you got women and food. why do we goto work? why do we buy nice clothes and cars? why do we goto bars or even goto college. see in the end if you got food and a pretty girl money is meaningless. if you could be rich and only have ugly women or be poor and have pretty women which would you pick?
 
Quote from brokerboy:

what do you need money for if you got women and food. why do we goto work? why do we buy nice clothes and cars? why do we goto bars or even goto college. see in the end if you got food and a pretty girl money is meaningless. if you could be rich and only have ugly women or be poor and have pretty women which would you pick?
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I get the free food part but can someone explain the women part at Madison. Is it just eye candy or these hot girls like poor traders?
 
Yea madison gets you strippers for your birthdays feeds you food takes you to atlantic city on a crappy bus but hey were the ones paying it with our high deals the reason why everyone is loyal is because the owner of madison pays all the head traders and managers which are russians so they get russians from all over to trade and they will never leave its home for them.
 
"how can there be commissions and desk charges if you are trading their$$$?"

Im assuming you are being serious. These fees are called "overhead". "In theory" if you werent in that seat a customer would be who they are billing. They charge you a desk fee, a tech fee (for machines and services) and commisions per trade. These are passed through to your account and "in theory" are cheaper than doing it yourself at a home office. Places that dont charge per trade commish have higher desk fees and vice versa.

It is standard operating procedure at most prop/arcade shops and you can see that there are far fewer of these places than 5 years ago.
 
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