Worldco Going Out of Business

Kind of funny. I'm a worldco trader and nobody told me that. I guess i will be the last to know what is happening.

If worldco is losing money, its because their overhead is too high and trading environment got more crappy than anyone could possibly imagine.

Most traders i know are trading 30% of 2002 volume and are paying drasticly lower commission rates as well.

I used to trade 400 to 500k shares a day at 1 cent/share commission. This year i trade around 190k shares and my commission rate is 40% less.

So right there worldco is making 70% less on me than last year.

Take any company in america and reduce revenue by 70% and they will be losing money.
 
Just curious... was anything mentioned on CNBC about Worldco today?

If so, I'm sure those fuckers said it with a smirk on the news that a large daytrading firm was going under.
 
Quote from silk:

Kind of funny. I'm a worldco trader and nobody told me that. I guess i will be the last to know what is happening.

If worldco is losing money, its because their overhead is too high and trading environment got more crappy than anyone could possibly imagine.

Most traders i know are trading 30% of 2002 volume and are paying drasticly lower commission rates as well.

I used to trade 400 to 500k shares a day at 1 cent/share commission. This year i trade around 190k shares and my commission rate is 40% less.

So right there worldco is making 70% less on me than last year.

Take any company in america and reduce revenue by 70% and they will be losing money.
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Only if they didn't plan properly. Other firms dealt with the same changes and many of them have and will survive and possibly thrive.
 
Quote from I Missed Boat:



ummm, no. it was actually a top 30 list till not long ago, and it was a LIST of top traders for the day, NOT ALL PROFITABLE TRADERS. And only this year did it get so bad that people making around $1,500 were often on the list. It used to be you had to make around $3,000 just to make the top 30 on an average day. Also, by February this year there were only around 400 traders, NOT 780. So please review the facts and statements actually made.
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Yes, that's right. You got to make more than $1k to $1.5k to be on the top 30 list. So, if you make $500, you won't make the top 30 list.

There is also a percentage number that is posted daily. This number shows how many traders at Worldco are profitable for the day. Almost every day, it was between 55% and 75% (the percentage of traders that were profitable for the day).
 
I just want to say, poor traders!!!!!!

The firm is crap but the some of the guys are good traders and dont deserve what had occured.

Good luck to you guys and hope you find a better firm!
 
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