If you were such a size trader, you should be able to make net. Being gross positive means nothing. You know what your commission rates are when you sign the deal so don't blame the firm for your inability to make money. If you can't even make 2 cents average per trade to offset commissions (a) you need to get lower rates or more likely (b) you should not be in this business.
Worldco R.I.P. 1993-2003 ?
- Thread starter bmwstox
- Start date
If you were such a size trader, you should be able to make net. Being gross positive means nothing. You know what your commission rates are when you sign the deal so don't blame the firm for your inability to make money. If you can't even make 2 cents average per trade to offset commissions (a) you need to get lower rates or more likely (b) you should not be in this business.
Are you guys trying to say not to go to Worldco???????
I was supposed to start there real soon????
I was supposed to start there real soon????
How can we take your word for it? It's been proven that everything you write on these boards is a gross exaggeration or a flat out lie. LOL
But seriously, you claimed you were still employed with Worldco in a previous post. Just by your comments above, I guess this is not the case? What is your current status with Worldco???
I never blamed the firm for my inability to make money - it was the misrepresentation which galled me. But hey, if you want to be the ultimate arbiter of who should and shouldn't be in this business knock yourself out. p.s. - i now trade for a billion dollar hedge fund if that impacts your almighty determinations.
This message board seems to really be more for bashing than hard core facts. I came here to find out the best decision to make about companies to work for and this board doesn't provide me with any facts to make a decision. It just seems to be a board to make unfounded accusations.
I would like to get information to make a decision, but it seems very hard to do here.
I would like to get information to make a decision, but it seems very hard to do here.
Worldco is a joke. I said bon voyage, I'm not gonna put more capital into a boiler room operation. Nothing I said was a lie, in fact I said I gained some good experience from being there. I am currently looking at 2 decent trading offers. I am close with the top trader YTD at Worldco, so I have a good shake as to what is going on there. I'm not gonna waste my time, people can judge Worldco for themselves. Worldco is a retail operation, it's not prop.
Givent the repsponse on this board I would say quite a few people agree with me so I guess there is quite some truth to my "flat out lies." I'm sure all can draw their own conclusions.
I'm done with the place.
- BMW
I've noticed that people say nice things when they first get hired, but the longer they stay the more negative and nasty they get. Some of that is normal but in this case it is extreme. Even the positive people do not really trust the firm.
Was it always like that or only when the market turned sour.
Meaning, did people have no problems during 1996-2000 (when times were great) trusting the firm or only when times were tight and the firm had to make business decisions to stay afloat??
That's what I'm trying to get an understanding of??
I mean, this is a business and I'm trying to see maybe if they are just making solid business decisions for the firm or just churning people out as some people have said on here. That is the real question.
I met with Walter and it didn't seem that he wanted to churn, it seemed like he had a vision to have one of the largest and best firms on Wall Street.
To me, that was respectable and imoressive.
He made it clear by constantly posting the number of traders he had etc.
I don't think his plan was to churn if he constantly tried to publicise the number of traders they have.
I think this is more that the market went sour and a management decision had to be made.
I think, no matter what people say, Walter was trying to do the best by people during good times, but he certainly couldn't hold people above water during this market meltdown.
Just my thoughts from a business perspective.
I'm curerntly facing a decision to work there and I am just not sure what to do becasue of the market conditions.
Anyone want to comment.
Meaning, did people have no problems during 1996-2000 (when times were great) trusting the firm or only when times were tight and the firm had to make business decisions to stay afloat??
That's what I'm trying to get an understanding of??
I mean, this is a business and I'm trying to see maybe if they are just making solid business decisions for the firm or just churning people out as some people have said on here. That is the real question.
I met with Walter and it didn't seem that he wanted to churn, it seemed like he had a vision to have one of the largest and best firms on Wall Street.
To me, that was respectable and imoressive.
He made it clear by constantly posting the number of traders he had etc.
I don't think his plan was to churn if he constantly tried to publicise the number of traders they have.
I think this is more that the market went sour and a management decision had to be made.
I think, no matter what people say, Walter was trying to do the best by people during good times, but he certainly couldn't hold people above water during this market meltdown.
Just my thoughts from a business perspective.
I'm curerntly facing a decision to work there and I am just not sure what to do becasue of the market conditions.
Anyone want to comment.
I think that for the most part (with some exceptions) you are right about many people's complaints about the firm. However, if you are wondering whether to get started in this market environment, my advice is NO (and this is the same advice I offer to my best friends, who have inquired about it after I did moderately well last year. People who have made millions are losing or breaking even now. A very, very small number of people are making decent money now. Just trying to be frank (some people on ET complain if anyone offers any advice and perspective that isn't extremely optimistic).