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Worldco Do I really have to put up money?
- Thread starter YoungNAmbitious
- Start date
Quote from wideopen:
A trader blaming his firm for his own failure deserves to get canned. I haven't put a single penny yet during my employment at this firm, and yes people get checks at worldco.
going beyond blaming the house for losing.....the place is not a good place to be.... imho its run by smart people who can fool people into thinking its a good place to be.....but its not....its simply a bad place to be
what about getting a draw ? I would never get up and go into an office and work 8 hrs a day without some kind of income stream. First of all, I can't afford to do that, second of all it just seems dumb. Why should anybody work for free ?
Quote from MondoTrader:
I would never get up and go into an office and work 8 hrs a day without some kind of income stream. First of all, I can't afford to do that, second of all it just seems dumb. Why should anybody work for free ?
Ever heard of unpaid interns? They are fighting for jobs where they can work for free in the "glamourous" industries.
If you're looking for a steady 9 to 5 paying gig, then daytrading is not for you. You have to be willing to pay your dues (6 months to a year) without any income until you can consistently take money out of the market to live off of.
God, you guys keep talking about the "18th floor, " "management," and "memos."
Is there really such a hierarchical structure at Worldco?
Geez, I thought I left that behind in Corporate America.
I thought that was one reason we became traders.
Is there really such a hierarchical structure at Worldco?
Geez, I thought I left that behind in Corporate America.
I thought that was one reason we became traders.
true statement goldenarm. As it happens, i choose to swing trade which frees me up to earn regular wages. In my case, the opportunity cost of being a hard core daytrader is simply too high.
I also believe that many who are attracted to the prop firms are fresh out of school with econ/finance/management type degrees and having a hard time getting a job. The prop firms take them in anyway even though what they really need is a paycheck. Many of them are overly optimistic and don't realize they won't be getting paid anytime soon.
I also believe that many who are attracted to the prop firms are fresh out of school with econ/finance/management type degrees and having a hard time getting a job. The prop firms take them in anyway even though what they really need is a paycheck. Many of them are overly optimistic and don't realize they won't be getting paid anytime soon.
if they can replace those 80 and make them put up their own capital then its no biggie, just churn.
worldco needs to fill seats w/people that have capital to put up. they need their commissions. that's why they are constantly hiring and then firing. u figure there's always some moron out there who was no idea how Wall St. operates, it's kinda like a boiler room, except it's for traders.
It's all about churning.
It's all about churning.