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Maverick74 said:
Quote from Michael:

http://www.elitetrader.com/vb/showthread.php?p=3617920&highlight=patak+member+rates#post3617920


We are a CBOT member firm which is owned by the CME group. Those trading ES would receive the customer exchange rates. If we have YM traders we would pass on the member exchange rates (as we hold IDEM trading rights) but we do not have member exchange rates for all products therefore many are customer exchange rates. Once a live trader is proven in a certain product and if we are not receiving member rates for that products we will certainly look to add that seat (or member trading rights) and pass on the member rates along.

mp

So they had an IDEM seat. I was wrong on that. So only YM traders (which nobody trades) would get member rates. No member rates for CL or ES. Sorry Volente, you lose again. It's becoming a habit and you know what they say about how hard it is to break bad habits....
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My apology for taking misleading information straight from their website.
Makes you wonder what else is are they misleading about ?


I'm sure there is more to the story, no way in hell are they letting people trade cl and making up the difference out of their pocket.
 
volente_00 said:
My apology for taking misleading information straight from their website.
Makes you wonder what else is are they misleading about ?


I'm sure there is more to the story, no way in hell are they letting people trade cl and making up the difference out of their pocket.
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Why would they have to make up the difference out of their pocket? I don't follow.

Nobody is trading YM. So most likely nobody is getting member rates on their trades. BTW, TST is NOT an FCM, so they are paying an FCM some commish. So if we take the $1 out for T4, the exchange rates (anywhere from 2.42 to 2.90) plus what they are paying at the wholesale level, the difference is the markup which by my calculation, can't be much.
 
Maverick74 said:
Why would they have to make up the difference out of their pocket? I don't follow.

Nobody is trading YM. So most likely nobody is getting member rates on their trades. BTW, TST is NOT an FCM, so they are paying an FCM some commish. So if we take the $1 out for T4, the exchange rates (anywhere from 2.42 to 2.90) plus what they are paying at the wholesale level, the difference is the markup which by my calculation, can't be much.
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Because retail cost for CL is around $4 a rt without adding another $1 for T4 so $5 a rt is not or barely covering their CL trades unless they are getting some kind of membership pricing.

Doesn't the nymex offer leases to corporations ?
 
Just when I thought the trolls were about to ruin this thread, Mav injects some reality. Trolls respond with name-calling and shorter posts.
 
Pekelo said:
Don't forget to sign up for the $35 Candy Challenge,
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...and the winner is:

1. Moviemkr 32K
2. Scotty 29K
3. Profiletrader 28.6K
.
.
10. Bigplus 18.5K

Impressive showing.... The top 3 guys made around 20% in 1 week without restrictive rules... Even the #10 guy made 12%...

Now if you can make 500% non-cumulative per year, do you really need a backer?
 
Pekelo said:
...and the winner is:

1. Moviemkr 32K
2. Scotty 29K
3. Profiletrader 28.6K
.
.
10. Bigplus 18.5K

Impressive showing.... The top 3 guys made around 20% in 1 week without restrictive rules... Even the #10 guy made 12%...

Now if you can make 500% non-cumulative per year, do you really need a backer?
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No, you definitely don't need a backer if, IF, this good. 20% is great, 12% is great.

on a semantics level, they "made" more fake money. They didn't make any real money. I hear people say "I made $1000 on sim". It's not dollars. LOL. I think this is an important psychological aspect. But I do hope these guys do well with real money.
 
Pekelo said:
----winner is....
----Impressive showing....
----without restrictive rules....
----500% non-cumulative per year....
----do you really need a backer?
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1) For the sake of really being annoying, you can set about to calculate the percentage of participants who finished above breakeven and also calculate and determine if the profits earned by the "profitable" traders exceeded the losses of the "losing" traders. :cool:
2) Those guys need the backer because very few if any have $150,000 laying around. :)
 
nazzdack said:
1) For the sake of really being annoying, you can set about to calculate the percentage of participants who finished above breakeven and also calculate and determine if the profits earned by the "profitable" traders exceeded the losses of the "losing" traders. :cool:
2) Those guys need the backer because very few if any have $150,000 laying around. :)
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If you can make 20% weekly then you can get to 150k and have guaranteed income pretty much rather than relying on TST to actually come true.

I considered it for a while then decided not to waste my time up 3k or 50% since so all good :)
 
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