Traits of a top trader Re: Wordlco
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Tell me which specific line is in your face lying, I see embellishments but I don't see lies.
What do you want us to say? Oh we look for individuals with mental problems, uneducated, lazy bums?
When you hire someone you try to make them feel special, although I tell everyone I interview that:
A) The firm needs them as much as they need the firm. This is a partnership NOT a job.
B) This is an opportunity but you have to be able to stomach extreme stress and pressure in the early going, and even then you must understand that you may not make it.
C) Do not ask me how much money will you make if you stay in this game for a few years, a lot of people make the mistake of "if I work for Worldco for 2 years I will be guaranteed a six figures income", not the case. I asked the same wrong question of what I can expect from this, the truth is you can expect as much as your own ability.
Still, you try to tell them what you are looking for and you try to give everyone a chance. I mean the way I see it with 100 shares 2 positions, it is hard for them to wreck havoc. You show them what you do and you show them what other people do, then you let them absorb it and come up with their own criterias and basically trade and trade and trade, when they get that first profitable week you up their shares and so on . . .
That is the way we develop new traders with nothing except hunger and intensity. I mean it is totally possible for a new trader to discover something that works for them and destroy experienced traders. You have to encourage creativity as long as they are aware of the basic rules.
So tell me, what part of our ad is lies?
Video games?
I always looked at trading as an advanced form of video gaming, somewhat similar to a massively multiplayer game of zero sum.
The degrees/certifications?
I got in without them. I still say having them is better than not having them.
The background and experience in finance?
I got in without them. I still say having them is better than not having them.
The super duper mentor and training program?
Let's say that when my boss talk about me he talks about a 250K a year trader, use the formula I give you, take a third out of that, divide the rest by 2, you get approximate 75K which is what I made last year.
This is all industry practice, although I show everyone my account statement coming in so they know exactly what they are getting right off the bat. It is ok for a leader or anyone for that matter to have a bad streak, but it is not ok if he pretends he is making size which a lot of the team leaders do when they are down.
I believe a strong relationship will always be built on honesty. And I can say with 100% integrity that if you are on my team and you ask me a question you will know exactly what I know, nothing less, nothing more. I will go over your trades (assuming I am actually making money myself), I will show you every one of mine, but that's about all one can do in the game of mentoring, no matter how good I am (and I am not THAT good), I can lead you to the door but you have to walk in, even if I get locked out myself (team leaders are as vulnerably to blow-out as anyone else), you still have a chance to walk right through.
I don't understand why there are so many haters when we are one of the few firms left that will give everyone a chance. I can guarantee that if you come to Worldco and play on my team, until the day I blow up (or retire with the princess), you will be given a fair and square shot at what you want to accomplish to the point that your chance to make it is about as good as anyone else's, nothing more.
What do you want us to say? Oh we look for individuals with mental problems, uneducated, lazy bums?
When you hire someone you try to make them feel special, although I tell everyone I interview that:
A) The firm needs them as much as they need the firm. This is a partnership NOT a job.
B) This is an opportunity but you have to be able to stomach extreme stress and pressure in the early going, and even then you must understand that you may not make it.
C) Do not ask me how much money will you make if you stay in this game for a few years, a lot of people make the mistake of "if I work for Worldco for 2 years I will be guaranteed a six figures income", not the case. I asked the same wrong question of what I can expect from this, the truth is you can expect as much as your own ability.
Still, you try to tell them what you are looking for and you try to give everyone a chance. I mean the way I see it with 100 shares 2 positions, it is hard for them to wreck havoc. You show them what you do and you show them what other people do, then you let them absorb it and come up with their own criterias and basically trade and trade and trade, when they get that first profitable week you up their shares and so on . . .
That is the way we develop new traders with nothing except hunger and intensity. I mean it is totally possible for a new trader to discover something that works for them and destroy experienced traders. You have to encourage creativity as long as they are aware of the basic rules.
So tell me, what part of our ad is lies?
Video games?
I always looked at trading as an advanced form of video gaming, somewhat similar to a massively multiplayer game of zero sum.
The degrees/certifications?
I got in without them. I still say having them is better than not having them.
The background and experience in finance?
I got in without them. I still say having them is better than not having them.
The super duper mentor and training program?
Let's say that when my boss talk about me he talks about a 250K a year trader, use the formula I give you, take a third out of that, divide the rest by 2, you get approximate 75K which is what I made last year.
This is all industry practice, although I show everyone my account statement coming in so they know exactly what they are getting right off the bat. It is ok for a leader or anyone for that matter to have a bad streak, but it is not ok if he pretends he is making size which a lot of the team leaders do when they are down.
I believe a strong relationship will always be built on honesty. And I can say with 100% integrity that if you are on my team and you ask me a question you will know exactly what I know, nothing less, nothing more. I will go over your trades (assuming I am actually making money myself), I will show you every one of mine, but that's about all one can do in the game of mentoring, no matter how good I am (and I am not THAT good), I can lead you to the door but you have to walk in, even if I get locked out myself (team leaders are as vulnerably to blow-out as anyone else), you still have a chance to walk right through.
I don't understand why there are so many haters when we are one of the few firms left that will give everyone a chance. I can guarantee that if you come to Worldco and play on my team, until the day I blow up (or retire with the princess), you will be given a fair and square shot at what you want to accomplish to the point that your chance to make it is about as good as anyone else's, nothing more.
What a goof--Hitman your words to me upon visiting you were something along the lines of-- they'll take anybody-just go upstairs and fill out application-remember? I ran right upstairs--NOT. I ran out the door and out of the building. It really turned me off. Plus the floor Hitman was on frankly looked like a sh t hole.
samething happened with me Limbo.
Hitman was nice enough to let me visit him. And I thank him for it.
But I went upstairs(18thfloor), and nobody knew what the hell was going on...the girl who finally gave me a # to call had a big time attitude 'cause she was playing solitaire and I interupted her...and I too thought the place was a mess...did you check out the men's room? I rather take a dump in the woods.
On the other hand, I also visited Echo and Leiber Weissman office's that day.. Echo's place was sweet...top notch...a place where you'd feel good about working in everyday...and Leiber and Weissman 's office was clean but not as modern looking as the Echo office.
Hitman was nice enough to let me visit him. And I thank him for it.
But I went upstairs(18thfloor), and nobody knew what the hell was going on...the girl who finally gave me a # to call had a big time attitude 'cause she was playing solitaire and I interupted her...and I too thought the place was a mess...did you check out the men's room? I rather take a dump in the woods.
On the other hand, I also visited Echo and Leiber Weissman office's that day.. Echo's place was sweet...top notch...a place where you'd feel good about working in everyday...and Leiber and Weissman 's office was clean but not as modern looking as the Echo office.
Hitman,
I think that is was wise for your firm to want Chess players and Bridge players. However, I would have done a little more research as to where to advertise.
I have seen thes ads before in the back of Chess Life magazine, and in The Bridge Bulletin - I think it was Schoenfeld that did the advertising, but I don't recall.
Just about _EVERY_ Chess player and Bridge player gets these magazines and actually may read it from cover to cover.
If you want results, advertise there.
nitro
I think that is was wise for your firm to want Chess players and Bridge players. However, I would have done a little more research as to where to advertise.
I have seen thes ads before in the back of Chess Life magazine, and in The Bridge Bulletin - I think it was Schoenfeld that did the advertising, but I don't recall.
Just about _EVERY_ Chess player and Bridge player gets these magazines and actually may read it from cover to cover.
If you want results, advertise there.
nitro
What was it about the Worldco's men's room that turned you off? Even though it was lacking for dump purposes, was it ok to go for a piss there, or were the floors flooded with piss from overflowing urinals?
I once visited another trading floor in Manhatten, and I am positive I smelt coke in the men's room and there was piss everywhere on the floor... as for their cubicles, a dump on a bunch of rattlesnakes would have been safer.
Speculator1929
Guest
Does anyone besides Hitman have anything good to say about Worldco or want to refute these charges. (As a former Marine, taking a dump in the woods can be a very liberating experience.)
Shortee:
With the way the market has been, I don't expect to see a dime from my recruiting for a long long time. The way I see it, the best case scenario is out of 10 guys I recruit 5 will survive, and a year from now it will pay off.
As for trading ability, let's just say I dare you posting your P&L against mine on a daily basis for a year, we will see what happens in the end. Sure you may be ahead of me, even substantially so, if you think I don't take the game seriously you are underestimating an opponent and that is a fatal mistake.
Limbo:
Since you are into personal attacks . . .
***Nasty comments alert***
The one type of individual we don't hire are people who should be collecting social securities. The way I see it if you have money to blow go to a casino or something. For everyone else we offer a fair and equal opportunity. That said, if you walk in with some capital I will gladly take it off your hands, as you probably won't be needing it much longer.
As much as you hate me, by the time the nail is on your coffin I can blow out at Worldco and still has a chance to make it. There is one thing I have that no amount of pearl will add up to, and that is youth, something you wish you still have but you no longer possess.
***Nasty comment ended***
This is the nastiest comment possible and something I won't give out to anyone except those that step on my toes over and over until I have to say something about it. If you attack me over and over don't expect me to sit there and not say anything. I have ignored your comments three times already and I won't let it slip without a dose of your own medicine.
Uptick:
As for facilities, there are brand new buildings like 100 Wall Street where we expanded to, go there and see if you have something to complain about.
110 Wall street is about as old and crappy as Limbo on a wheel chair but I can tell you for a fact that we still paid every bit as much for it as any other firms.
Why? Because you are on Wall Street, and regardless of how crappy you think the environment is, every square feet of space, even if it is covered by urine (which it is not) is still measured in gold. How many day trading firms can afford to put up an ad on NY Times every week? How many day trading firms are actually on Wall Street?
Candle:
All I can say is, think about it, at our firm for every female trader we have 10 male traders, the men's room is gonna be heavily taxed, especially since traders usually hold it in until the dead zone when you will inevitably run into full house's.
I worked for Salomon Smith Barney before as a trade floor technical support guy, they were located in a brand new building but I can still tell you that the men's room just doesn't quite match the rest of the package.
As I said, eventually more of our operation will switch to 100 Wall Street, as a matter of fact a lot of people already moved over and that is the type of building you will have zero complaints about.
Keep in mind we are right here on Wall Street, and we got the vast majority of 6 floors in one building, 3 floors in another, that is a statement of our financial strength.
Sure there are compromises, but they are to be made and personally I like the address on my card.
Nitro:
Our job is to let us being heard, I mean it is not like we are a mob looking for rookie crack dealers (although Walter make it seem that way every now and then).
We provide an opportunity, I wouldn't get sentimental and call it an opportunity of a life time, but I would say if you are into trading this is as fair and square as a shot most people can ever ask for.
With the way the market has been, I don't expect to see a dime from my recruiting for a long long time. The way I see it, the best case scenario is out of 10 guys I recruit 5 will survive, and a year from now it will pay off.
As for trading ability, let's just say I dare you posting your P&L against mine on a daily basis for a year, we will see what happens in the end. Sure you may be ahead of me, even substantially so, if you think I don't take the game seriously you are underestimating an opponent and that is a fatal mistake.
Limbo:
Since you are into personal attacks . . .
***Nasty comments alert***
The one type of individual we don't hire are people who should be collecting social securities. The way I see it if you have money to blow go to a casino or something. For everyone else we offer a fair and equal opportunity. That said, if you walk in with some capital I will gladly take it off your hands, as you probably won't be needing it much longer.
As much as you hate me, by the time the nail is on your coffin I can blow out at Worldco and still has a chance to make it. There is one thing I have that no amount of pearl will add up to, and that is youth, something you wish you still have but you no longer possess.
***Nasty comment ended***
This is the nastiest comment possible and something I won't give out to anyone except those that step on my toes over and over until I have to say something about it. If you attack me over and over don't expect me to sit there and not say anything. I have ignored your comments three times already and I won't let it slip without a dose of your own medicine.
Uptick:
As for facilities, there are brand new buildings like 100 Wall Street where we expanded to, go there and see if you have something to complain about.
110 Wall street is about as old and crappy as Limbo on a wheel chair but I can tell you for a fact that we still paid every bit as much for it as any other firms.
Why? Because you are on Wall Street, and regardless of how crappy you think the environment is, every square feet of space, even if it is covered by urine (which it is not) is still measured in gold. How many day trading firms can afford to put up an ad on NY Times every week? How many day trading firms are actually on Wall Street?
Candle:
All I can say is, think about it, at our firm for every female trader we have 10 male traders, the men's room is gonna be heavily taxed, especially since traders usually hold it in until the dead zone when you will inevitably run into full house's.
I worked for Salomon Smith Barney before as a trade floor technical support guy, they were located in a brand new building but I can still tell you that the men's room just doesn't quite match the rest of the package.
As I said, eventually more of our operation will switch to 100 Wall Street, as a matter of fact a lot of people already moved over and that is the type of building you will have zero complaints about.
Keep in mind we are right here on Wall Street, and we got the vast majority of 6 floors in one building, 3 floors in another, that is a statement of our financial strength.
Sure there are compromises, but they are to be made and personally I like the address on my card.
Nitro:
Our job is to let us being heard, I mean it is not like we are a mob looking for rookie crack dealers (although Walter make it seem that way every now and then).
We provide an opportunity, I wouldn't get sentimental and call it an opportunity of a life time, but I would say if you are into trading this is as fair and square as a shot most people can ever ask for.
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