stupid "worldco recruiting process"

Originally posted by Thug_Life
nasdaq scalping has really died for the most part. The drastic decline in the market (after the drastic run up) made it harder, but decimalization was really the death blow, from what I have seen.

The decline in nasdaq scalping is also evidenced by comparing Broadway to Worldco or Bright. 3 years ago, Broadway was a big dog, Serge was on the cover of Forbes, etc. But now Broadway is a shadow of its former self, while Worldco and Bright are doing well by comparison.
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Isnt NYSE decimalized as well? Again, why is it favorable to trade against a specialist centered market as opposed to a fragmented one on Nasdaq? Just because some firms "never touched nasdaq for last 10 years" (which I find amazing) doesnt mean they are trading better or that you couldnt make money during the entire nasdaq bubble deflation.

I'm just curious, from reading Hitman's journal, if the majority of prop traders are in fact scalping NYSE names as the bulk of their trades, and am wondering how the execution speed/depth of the 2 markets compare. I've been raised on level II and routing over SuperDOT never seemed to be faster than an ISLD fill, so was just wondering what the benefits in listed are.

It's beginning to sound like those with a distaste for Nasdaq either never traded it to begin with, or are traders born out of the bubble who blame "the deceptive" MM/ECN system for their now defunct strategies.

But at least in terms of executions, Nasdaq supersoes/ecns puts everyone virtually on a level field, like being on the floor of the NYSE. I just find it strange that all of a sudden NYSE is considered the place to be. Someone convince me?
 
Babak-
I'm not sure what you're saying...but if I was taking home $10k a month I wouldn't care how much I was giving to Worldco.
I happen to think he's(Hitman) one of the best traders around these parts. Yeah that obsession with the "princess" is a little strange but he's doing well for himself.
 
thank you guys so much. Today I went to the information session of Lion Group Trading. Seems that they have different model to do business although I still have to contribute money. How much do you guys know this company. Any idea?
 
I have never traded at Worldco so I am not sure about their structure. However, from the posts I read it seems that he(Hitman) has a group of novice traders who learn from him.
If that is correct, then I stand by what I said. I don't think he should be training anyone, much less an entire group. A $100,000 a year FULL TIME trader is nothing special.
 
Hitman is a nice guy. I saw him before. In this industry, if some person can do well, it means that he must have some special point. I think that Hitman's passion is his greatest part. passion can let him win a lot more than the other people with some background but without passion. I still respect him. Hope that he can do better and better.
 
any guy in generic trading. tell me something about this firm, please. Compared with the other firms, what is the level of generic? I will appreciate it.
 
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