Trader's Union

calibertrader · Dec 8, 2002

Quote from qdz:

A question may sound silly. How much do you need to start an LLC? Is $2k possible? Thanks.

Not at all, you can have one setup for $500. If you do the setup by yourself, it may even be cheaper. Especially if the only purpose is to get the better insurance rate. But I would consult with someone.

Insurance companies usually require 2 employees to be signed up to get the better rate. But that may depend on the State you live in.

calibertrader · Dec 8, 2002

Quote from lescor:

What is the deal with this group?

http://www.securitytraders.org

I don't think a union would work with a group as independant as self-employed traders. But an organization that could effectively lobby for traders on important issues would be fantastic. That's why we can get steamrolled on things like the pattern daytrader rule, because there is no one to speak up for us as a group.

Is anyone famiar with the above organization? They are actively supporting or opposing numerous industry issues that effect all of us. Are they affiliated with some larger group, are they in someone's back pocket, or are they aligned with any political groups?

NOW THIS IS A GOOD IDEA!!! This is the right way to go.

If a new group were to be organized, there would have to be some sort of checks and balances put into place to make sure it sitcks to it's agenda, and doesn't roll into someone's pocket.

calibertrader · Dec 8, 2002

Quote from calibertrader:

NOW THIS IS A GOOD IDEA!!! This is the right way to go.

If a new group were to be organized, there would have to be some sort of checks and balances put into place to make sure it sitcks to it's agenda, and doesn't roll into someone's pocket.

But in order to get this group off the ground, it would need some serious funding. And somehow I believe that would be difficult in this enviroment.

mrktwiz · Dec 8, 2002

RE> Start with individual traders bundling their combined order flow....In the business volume is everything. With volume behind you.......you call call your own shots. One trader means nothing, 20 combined traders can through some weight around. Work together.

Jeff - I think your idea has merit, I mean isn't order flow everything in terms of the rate you get? Why couldn't this same idea apply to insurance rates, I can't see an insurance company NOT lowering it's rates if you have 25-50 people all ready to sign up rather than just 1 or a smaller group. They same could be applied to accounting or tax consulting cost's, wouldn't a CPA firm appreciate and lower their charges for a group of business, rather than just an individual, you could extrapolate this out to things such as office furniture, lease's...possibly even hardware /software cost's......maybe I'm to much of a dreamer but I really like the idea myself.

good trading all,

mrktwiz

calibertrader · Dec 8, 2002

Quote from mrktwiz:

RE> Start with individual traders bundling their combined order flow....In the business volume is everything. With volume behind you.......you call call your own shots. One trader means nothing, 20 combined traders can through some weight around. Work together.

Jeff - I think your idea has merit, I mean isn't order flow everything in terms of the rate you get? Why couldn't this same idea apply to insurance rates, I can't see an insurance company NOT lowering it's rates if you have 25-50 people all ready to sign up rather than just 1 or a smaller group. They same could be applied to accounting or tax consulting cost's, wouldn't a CPA firm appreciate and lower their charges for a group of business, rather than just an individual, you could extrapolate this out to things such as office furniture, lease's...possibly even hardware /software cost's......maybe I'm to much of a dreamer but I really like the idea myself.

good trading all,

mrktwiz

You would think, right? Somehow it doesn't. There's just too much business right now for them.

acrary · Dec 10, 2002

If your health insurance bill is too high, why not just convert to a higher deductible and use a MSA?

http://www.msainfo.net/FAQ.html

qdz · Dec 10, 2002

Traders' union protects traders and f@#$% those whoever want to take advantage of traders out of the markets!

nitro · Dec 10, 2002

Quote from acrary:

If your health insurance bill is too high, why not just convert to a higher deductible and use a MSA?

http://www.msainfo.net/FAQ.html

Thanks for this link - never even heard of it...

nitro

harrytrader · Dec 11, 2002

capitalism has to do with capital

So it is not so ridiculous if one can get bigger by some sort of capital and also risk mutualisation. That's in fact the very foundation of finance industry: mutualising capital and risk. The problem is confidence into the person who is doing it.

Quote from white17:

Sorry to rain on your parade QDZ but I can't think of anything more at odds with capitalism than a union. At the same time, I'm really not surprised by this thread considering the source. I am not trying to pick on you although it may seem that way. It just strikes me that perhaps you might be happier in a government employees union rather than trying to be a successful trader. No offense intended to anyone here.

Jeffgus: please explain to me how a bunch of independent traders is going to bundle their trades and compete in real time, or in any time. It's my opinion that the volume would be insignificant and the logistics daunting.