Prop firm owned by clearing corp

Quote from reg:

Don't twist my words, Don. I never said that all 300 traders will lose money all at the same time. I am just referring to the probability of 3 or 4 of your biggest traders blowing out at the same time (remember GE/HON?) and how individual accounts are protected if this should happen. It was an honest and sincere question, and you chose to be sarcastic about it. As Bill O'Reilly always says - "The spin stops here", so stop spinning. :)
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No spinning...I think we can just say that since we are the only firm that I know of that offers any protection (as I always say "check the balance sheets"), that we keep our traders well protected..."the spin stops with the balance sheets."

(Just keeping it light)...

Don
 
Quote from samuritrader:

hey don,

you'll be glad to know that rob speaks well of you also

I just started looking into this prop trading last week and after making tons of calls and e-mails, I talked to rob last week and said that I was looking at echo,bright ,assent and a few others and He said that the first 3 were the only ones to look at.

I noticed on your web site that you were a market maker and I was wondering if you could answer a question for me, I have asked this on many boards and nobody can answer it

Does a market marker for a firm only trade one stock, say NGEN or IPIX, does one guy get a stock at a table and only trade that stock in and out all day? Like the guy who trades for brut, cinn, and the others, does he have more than one stock to trade at a time?

They have tapes on everything but so far I can't find a good tape on how the market makers really work, I have a level 2 tape that tells some of things they do, but no one that i know puts out a tape on how they trade, like what indicators does a mm look at, what times of day do they really trade in, I know theres tapes like pristines micro-trader that gives pretty good time frames but I just wanted to know some better tricks


thanks
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I was a Market Maker on the Options floor, and MM's on the Floor usually have "pit" with a handful of stocks. MM's for Naz stocks simply trade from order flow...they don't bother with the real markets unless they have to.......so be careful if you consider Naz trading.

Be sure to learn how to do your "opening only orders" - properly, not like we did them last year....Over half the money that new traders make is from this strategy, heck we are even letting College students use our money to do it for free....

Anyway, good luck...let me know how it goes...."Tapes" ? Hmmm, what happened to Vito's training?

Don
 
Echotrade has a full-time, very professional risk management department. They are extremely vigilant and always on top of orders, leverage, various exchanges going down (arca for example, outstanding orders etc. One knows at all times - intraday - where they stand.

At the moment, Echo is not providing in house training.

Let's remember tho that ANY prop firm makes their money from the commissions they charge. So.... if a firm can keep adding traders and makes a concerted effort to add traders, it is not out of the goodness of their hearts - it is to make more commission money.

One might ask the question regarding the amount of marketing done and what that means about the firm.
 
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