Quote from Jduce:
Hey LU TRADER, one day your doging HLV the next day your licking them make up your mind are you short or long HLV. Anyway seeing that your last post was at 2:30 am you must have knocked back a few if you think HLV is a good firm to trade for.
lmao!! No no, I was not wasted when I posted that. Wasn't high or stoned either.
Let me explain my rationale. I am knocking HLV because of their problems, which in my opinion are mainly not sending out checks on time according to their promise, and lying constantly about all sorts of things. But if they fix these two problems, there would be nothing to complain about, see? So to answer your question, Jduce, I am like Kerkorian with GM, or Icahn with Time Warner..."long" on HLV while pushing them to make changes for the better.
If they consistently send checks on time from now on, and are honest about what is happening always AND maintain the way we have reasonable buying power, a fair commission rate, decent software, etc. then really, I would be satisfied. I mean, just in general, if everything that is wrong with something gets fixed, then one would be satsified, no? Really, HLV does have some good things going for them, which I will get to in a bit, but first, let me address Don Bright's concerns....
HLV promised to send out checks on the 25th of each month. When I signed up, I agreed to that (but as we all know now, they haven't been honouring that promise because they are often significantly late with sending them out). I come from a background of prop trading where I didn't have to put up any money at all. So I think of trading as a job where I receive a paycheck every month. I decided to put in $5,000 at HLV because of the higher payout. I think of the $5,000 as a security deposit for them because we are using their money to trade. When I put in that money, I knew I was taking a risk of never seeing the $5,000 again - my mentality was that if I kept up my trading performance, then I would make good money every month, enough to cover the $5,000 many times over so that if they went under one day, I wouldn't actually care that much about my 5 grand.
Now, going back to why HLV has some good things going for them...I would love to trade at a firm where you can take out your money anytime you want, and where their financial situation is completely solid, and where you get 100% payout. However, firms that satisfy these requirements can't offer something that HLV offers: a low commission per trade. If anybody can find a place that offers commission of $1 or lower per trade, and has all of the qualities mentioned above, I'd love to know about it!
