Old Worldco Traders

To say that Walter Bruan was a character back in the day would be the understatement of the decade.

A lot of guys (myself included) owe a LOT to him. Those were intense days. He used to get so jazzed when the market was going crazy- he'd yell into the PA like "bullmarket headquarters Worldco llc"

It bums me out a little because trading just seems so boring to me now. I mean really really boring. I'm afraid I've burnt out the neurons that register excitement at winning and fear of losing. And stock news...man, that's like torture to read. What do you do to get psyched again?
 
I traded at worldco for 6 months in 01. Lost about 7k. About 6k was commission. Had to leave cause I had to eat . :D

They started me trading 100 shares at .04 r/t and 10.00 r/t tix. And after a month or so worked up to 500 lots @ .03 r/t and 6.00 r/t tix. I didn't know anything about the biz.

I owe them alot of gratitude. Broke into trading and learned how not to trade.

Walter walked up behind me one day. I didn't know who he was cause I traded at a branch. Says to me "what are you trading that pussy stuff for....TRADE STUFF THAT MOVES!!!"

lol...
 
I distinctly remember him saying, "don't go for eigths and quarters- go for points."

It's good advice that I still think about when I find myself churning. Trade the stocks that move.

As far as the rates go, back then, the rates were high all around. But when the market was moving it didn't really matter.
 
when in doubt get out

never let a position break cost

stick and move

fast money makes money

what did god give you hands for .......to take

i believe in the perfect trader

a trader is at economic war with the world

the only thing that makes a stock move up .....a buyer...down.... a seller

listen only to yourself..

once you make the money you will always have to fight to keep it


enjoy ......m
 
the market hates you and wants to kill you

if you buy a stock you better know more about it than the person selling it to you

create your own volitility and trade aganst it

the fakeout before ..the shake out ...before the breakout

land is gods ipo

trade all your ideas everyday

dont step in front of a moving train....or try to catch a falling safe

no losses ever....refuse to lose

create your own breakouts......

worldco loves you

enjoy....m
 
One time he said something like "Averaging down is like shitting in your bed and trying to kick the shit out with your foot. You'll only make a bigger mess."

I swear he said that.
 
Has Worldco officially declared bankruptcy yet. If so, when will they pay out the remaining capital or explain why they can't. If not, then when the hell are they going to settle their tax dispute & go under?
 
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