Trouble at Refco

Andy
Good to see you voicing your opinion. I am with you as far as Refco Pro is concerned. The way the change over was handled in London was mickey mouse to say the least. As for management all we got was a memo hours before the changeover, I haven't even seen the guy who put his name to it all week and i sit right near his office! That is not right

Best of luck and try not to get too sea-sick!
 
Yeah, RefcoPro is a joke. I used the app for a few months. My question is why lament the change when you can write you own ticket and trade for peanuts? Large clearers would fall over themselves to handle your paper. I can't imagine the haircut that refco affords you would be that much of a value-add when you're banking 10mil/year.

You're Refco's biggest trader by an Order of Mag. and you can't run the front-end of your choice?
 
Quote from FredBloggs:

whats wrong? missed your target? is that refcos issue or yours?
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LOL... insult the best trader on ET just because you have a rating of 1300 and he has 1... this is what is wrong with ET. othewise it would be the best resource for traders.
 
andy.glad to see your still doing well. hope all the boys are still making dough. im over in the states trading gilts through Goldenebrg. i used to be at mac,about 6 monthe before you got there, but never refco. if you are pissed off, then get up and go. as a customer at GH they treat you well. they have a great new office in canary wharf and have always been good to me. if ever you or any of the boys are in new york give me a shout. jon
 
I agree with andy...the company is mismanaged...and someone is going to come along and take every single trader. People will only putup with this mistreatment for so long before they more on to something better....REFCO used to be good when MAGNUS was running things...he jumped ship and everything went downhill...goes to show you the importance of a single person.
 
Magnus sold the high and we all know it!!!!!!

You're just a number there now- the profit is mostly coming from the comms rather than trading P/L as it was a few years ago.

Refco KNOW that Refco Pro is toilet- why do you think the desk and commissions came down after the TT suit. Funny how the old bonding outings have come back into play now too......
 
How come no one thinks about the business side of things? If I was making 15M /year with say 50M in the bank. I would consider opening my own company. Is this not possible?

ozzy
 
Quote from FredBloggs:

whats wrong? missed your target? is that refcos issue or yours?
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LOL. Nice. Have you traded on Refco Pro? Or do you just make comments on stuff you know nothing about?
 
Quote from andyp123:

Lots of others are about to make the move too.

This is a good opportunity for another company to steal Refco's Traders.

Me being on the front cover of trader monthly in November also helps me sway opinions.
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Please explain smth to me.
You're a super duper trader who makes $15-17 million a year and you still deal with bullshit problems that normally affect mostly smaller undercapitalized prop traders.
Don't you have clearing firms & brokers just knocking on your door trying to get your business? With all that sick money you make, you practically make your own clearing just for your own trading, along with a platform customized specifically for your own needs.
 
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