worldco going out of business??

scJohn · Oct 13, 2003

Here is a link to Hitman's persepective on WorldCo.
http://moneycentral.groups.msn.com/...LastModified=4675442794247442954&all_topics=1

Look for message #s: 279, 281, and 282.

bmwstox · Oct 13, 2003

You can't tell me that this a great shock to anyone.

Maverick74 · Oct 13, 2003

Learn from this experience and try to be associated with the best firm possible whoever that may be. If you have to pay a little more in commissions, so be it. Integrity and character still count for something. Worldco had neither.

Casey30 · Oct 13, 2003

There is a group I know of that is forming out of ex-worldco traders, PM me for details.

sdtrader · Oct 13, 2003

It wasn't a matter of "if" but WHEN. And Mr. Watts.....no one was bashing YOU, they were bashing WORLD CO....and for good reason. What is it you don't understand?

Maverick74 · Oct 13, 2003

Quote from I Missed Boat:

what happened to Lions Group Trading. I thought it was still around.

Nope, that group blew up. Formed by two of the best traders at Worldco. Although it wasn't those two guy's fault. Both of them are stand up guys. This is just a really tough business to operate in if you are undercapitalized.

I Missed Boat · Oct 13, 2003

Quote from sdtrader:

It wasn't a matter of "if" but WHEN. And Mr. Watts.....no one was bashing YOU, they were bashing WORLD CO....and for good reason. What is it you don't understand?

A group of us wldco traders are going to the trading firm of Dewey Cheatum and Howe. Commission is .0000000000001, payout is 110%, or 95% of gross, whichever is higher, and the firm will guarantee, with one of those spit hand shakes, that they are solvent (sp?). They even promised to train new traders in their very profitable new system. Their top trader, Gordon Gekko, promised to make everyone a millionaire in their new scalping system, using these "special boxes" they just acquired from AB Watley.

PM me for details!

axehawk · Oct 13, 2003

Can't some of the Worldco traders hire a lawyer to freeze all of the company's assets to keep them from being funneled offshore? How can they just sit their idly by for the next 2 weeks.

Any lawyers out there?

I Missed Boat · Oct 13, 2003

Quote from Maverick74:

Nope, that group blew up. Formed by two of the best traders at Worldco. Although it wasn't those two guy's fault. Both of them are stand up guys. This is just a really tough business to operate in if you are undercapitalized.

I know who they are. Yah, and their styles of trading went by the wayside. MOCs are at best a way to make a few extra $$.

Maverick74 · Oct 13, 2003

Quote from Casey30:

There is a group I know of that is forming out of ex-worldco traders, PM me for details.

What is it with groups. Why can't you guys just go to another prop firm. Why do you have to form a group. The stupidity of this amazes me. Do you guys have any idea how capital intensive this business is? You can't just form a group and think everything is going to be hunky dory. I think everyone at Worldco learned a good life lesson about who they should associate themselves with. And now you want to lure them into your "group". What is that. Freaking 5 guys in a room with a sub LLC. Get real man. These guys just got their ass handed to them. I think it's time they look for a little more professionalism not less. You can't trust anyone in this business. And I mean anyone. But if you do choose to get involved with someone, for god's sake make sure they over capitalized and make sure their is some integrity there. Enough of this group shit. Groups are what killed Worldco. They had like 400 of them.