Pro NY trader goes from 200k salary down to 25k

Quote from atticus:

Host/hostess is an hourly job and pays in-line with "front of the house" positions. I know because my brother owned a minority interest in a popular Manhattan restaurant.
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Maybe fir a one off type establishment. For a Corp chIn like the palm it's salary plus profit sharing. Not a bad gig if your good eniught to get it
 
Sorry, have I heard this right? Are people here suggesting that the guy in the article, given his circumstances, actually starts trading and taking risk with his remaining capital?

I don't quite know what to say to that.
 
Quote from Sushi:

Maybe fir a one off type establishment. For a Corp chIn like the palm it's salary plus profit sharing. Not a bad gig if your good eniught to get it
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You have never worked in a restaurant have you? A host/hostess makes about 10-15$/hr. There is no profit sharing! Where the fuck did you get that?

I know because I ran restaurants in NYC. I have done the payroll. Get yer head out of your ass.
 
Quote from Landis82:


And let's not forget how much of your income gets eaten up by taxes in NYC, including the 4% New York City tax . . . .
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4%? When was the last time you paid NYC taxes? It's higher now.
 
Quote from Landis82:

Exactly.
:D

Here we are 7 pages into this thread and there are people from ET that still do not understand ( nor are they able to comprehend ) the difference between a floor BROKER and a floor TRADER.

What a joke this place is.
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Most of these "elite traders" have never even seen a trading floor.

Of course, soon there will be nothing to see.
 
Seriously, this guy is talking out of his ass. The palm is not bad, but it's not exactly in the top 5% of the city. Front of the house at the palm is nothing special, certainly not six figures + benefits.

Quote from cstfx:

You have never worked in a restaurant have you? A host/hostess makes about 10-15$/hr. There is no profit sharing! Where the fuck did you get that?

I know because I ran restaurants in NYC. I have done the payroll. Get yer head out of your ass.
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Quote from cstfx:

You have never worked in a restaurant have you? A host/hostess makes about 10-15$/hr. There is no profit sharing! Where the fuck did you get that?

I know because I ran restaurants in NYC. I have done the payroll. Get yer head out of your ass.
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Palm waiters make 50 to 100k per year easily. You have no clue. This isn't some deli
 
A host/hostess is not a waiter dumbass. A host/hostess gets paid hourly andrarely does one get tips.

Seriously. Don't spew shit that you have no idea what you are talking about.

Or is that the norm for "traders" on this site?



* * If you people can't even grasp how a restaurant runs and the pecking order in it, how can you guys figure out how to trade, which is infinitely more difficult than asking someone if you can take their coat while walking them to a table (job function of a host/hostess)?
 
why this guy after so many years din't have his own account???????? doing " crack spreads" or just spreads isn't that hard he could do it from home if he was smart enough....
unless he's trading style was like" a dog trying to catch his own tail"
 
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