Schonfeld Sec. bad moon rising ???

I'm a bit lost on this subject.. I thought that Schoni had 3 offices
in Florida. Hold Bros had one and so did Van Buren. Are you guys saying that all these offices have closed or cut back on traders?

The Boca office of Schoni had a couple hundred traders in 2 offices.
 
Originally posted by goldenarm
You are correct. Swing trading does have its time and place. My point was just that in the past eight or nine months, I've only seen the scalpers make money consistently, not the swing traders. Let's face it, a sideways market is tough on swing traders.

I think to be successful in today's market, you have to be versatile enough to do both. The higher probability trades are the ones that yield singles. By singles, I don't mean nickels in CSCO, but maybe quarters and halves in NVDA, KLAC or EBAY for 500 to 2000 shares. Call me an idiot, but I'd rather take a high probability (70-80%) short-term momentum trade that yields $500 than a 3 or 4 day trade that has a 50% chance of success. When the market is clearly trending up or down, THEN you can incorporate more swing and position trades in the mix. The name of the game is longevity and steady income in this business, not setting yourself up to blow up in any given week.

Just my 2 cents...
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Yes, I agree with you...the chop factor makes it more practical both financially and mentally to at least partial out most of the position when you have a winner...Overnight moves at this point are pure gambles...The indicies are starting to look more and more like pork belly futures
 
Ahhh i See bigbrother. We were not trashing schoni. Nor did we state falsehoods. I respect Steven and what he did. So, hotshot, you know who I am, look me up when you get into chi-town and we will have a beer.

Things change and so do seasons, I could care less about Schoni now. I've already moved on. Good luck and I hope you make coin....

er
 
Originally posted by xyztrader


2. I don't know whether or not its true some shony guy was trading from a hotel room off CNBC quotes losing tons of dough. My guess is that he isn't. They are all over any loose cannons these day, and his size would be drastically cut fast after one $100k down day. So I'm calling bullsh*t on that post.>>>>>>>>>>>>>>>>>>>>>>>


xyztrader, No I'm calling bullsh*t on you! That story about ths guy in Vegas is ABSOLUTLTY true! Yes, he had a GREAT year in 2000 5mil, but they are allowing him to piss it all back, they let him get down 0ver 500k this month alone, forget about Jan- April and all of last year. I'm pissed because I like my job and have respect for my employer and his money, but guys like this WILL cost us our jobs and our BIG kickers in Dec. So don't you care ?
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I will say I have learned a lot from you guys this past week, on and off this site, and everywhere else I go.

Now I just have to figure out the difference between the good and the bad ...

However, you guys do have balls; and most of all I am sure it is not all bullshit.
 
I have no beef with million dollar producers at Schoni. I know what it was like in 2000 also. For 6 months straight I was netting $30-60K my end (my gross was around $100K-$275K) but my payout percentage sucked. I knew what it felt like loading up on PDLI, YHOO, and CHKP when they were rocketing!

Alas, those days are a faint memory. I'm absolutely ecstatic to be netting $3K a month in this market, but I'll tell you one thing...I can load the boat like the best of them in a strong market. I also know that I'll be trading profitably for a long, long time.
 
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