The one thing we dont need to hear

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Quote from sowsaw:

Wow,


Last I want to finish by thanking Don Bright for standing up for traders who may have been taking advantage of or held hostage by a deposit at HLV.

Don thanks for the education and your comment this community needs more people like you.
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Thanks, always good to hear nice things from other traders. Due diligence should always prevail.

Thanks to "dogballoon" as well, I do my best.

BTW, perhaps a point of interest...the NYSE is testing the hybrid system's NX order limits on Friday....only on LU I'm told. So you guys can put in a million shares if you want to....(might explain another part of your post)......


Don:)
 
Just a note...


I began this thread and it seems my cheque has arrived and all is cleared.

My favourite time is coming again...the point when you learn a new trading platform.

Good luck in your trading.
 
I can tell you from close experience of 2 major and 1 minor firm closing and the traders never getting paid. Consider yourselves extremely LUCKY that you are receiving warning signs in advance. Remember too, that all the traders rush to get their money out, and if a firm is having margin issues, then there will NOT be enough money to go around. I have nothing personal against HLV and really don't even know anything about them. But, my wallet has $100k less than it should, thanks to firms not paying out cap contributions and profits. Trust your intuitions, if there appears to be a problem with a firm in this industry, 9 times out of 10, its a precursor of bad things to come.

Just my 2 cents....
 
just a quick note on hlv. i have been a trader there for almost 2 years now. i am not in the management there, just a trader with some of my money down. as for my own experience - i have never had money withheld from me which was owed to me. i personally do not know of anyone not being paid out money owed to them. people who have left the firm with whom i keep in touch with who have a negative opinion of the company were ones who came in, traded there, and left after not being able to make money.
just a quick thing to keep in mind no matter where one trades at - people's opinions of trading firms are almost always based on how well they did there as a trader. make money at firm x, you are happy and thus firm x is good place to trade at. if you dont make money at firm y, the reverse is true and people thus have a negative opinion of firm y. personally i can state that there are many people in the ny office of hlv who are making money and who are content with the firm.
 
Once you get that type of notice it creates a run on the bank. Its great you got a warning but you should leave and leave now. They will put band aids over shot gun wounds but the party is over.

I experienced this at a fortune 50 company and a sleazy prop. When the excuses start coming from on high you have two choices, lube up and get ready or get out of there and find a new gig. I recomend the later.
 
Hey apflugfe, if you actually read the threads on HLV you will notice that not getting our money from these clowns is only one of the problems and a big one. There's alot of other things wrong with HLV, to long to go down the list, just read the threads. I was a profitable trader while i was there and still received my checks 2 weeks late every single freaking month. But noticed that this was your first post, so you probably are managment just logged in under a diffrent user name.
 
To come on this board and start blaming traders for HLV problems I think either you are management or out of tune with reality.

The fact of the matter is HLV has had major problems over last few months most recently they were shut down by NASD for over 1 week this firm needs to address there problems and start apologizing to traders for all the losses they have caused due to incomeptence from the firms management.

So I think rather than trying to paint a rosie picture and say you never had problem you should be telling the truth and let traders know about the potential problems they may face if they open an account at HLV.

So as George W Bush says "your are either with us" (traders looking out for each other)
or with them (HLV trader terrorists)
 
I am currently a trader at HLV. I have started here about 1 year ago, and I have come to know management pretty well. I have been to many different firms and I have noticed the same thing everywhere, whether you are well capitalized or not there are always problems. Regulators are on fire always looking to point the finger at somebody. Not that things and mistakes do not happen but hey, we are all human. What has impressed me about this particular firm is that while most people are losing money nowadays, their prop group is always making money. I mean real money. One kid started 6 months before me and he is up 150k for this year since jan., and from the time he has started he has netted 350k. I think that is pretty good for somebody just starting out. I think anybody who is looking to trash any firm, not just HLV, for business is a straight up piker, probably makes no money or is steadily losing clientele. Charles Voccaro is a real businessman, I stand behind him all the way, I mean I owe him that much after he ate a 150k dollar hit for 3 of us one month, regarding fees. I can bet money he would never use some kind of fairy axx tactics to gain clientele, like some people.
 
I think it's time to close this thread, what with multiple people registering just to rush to the defense of HLV. The starter of this thread (mcelitetrader) posted a week ago that his check had arrived and all was cleared. And as Don Bright said in an earlier post, "Due diligence, common sense..." which pretty well sums it up when it comes to selecting prop firms.
 
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