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Worldco R.I.P. 1993-2003 ?
- Thread starter bmwstox
- Start date
Quote from Mecro:
Thats BS, come on now. In the ratings and in the forums you have both WorldCo haters and WorldCo lovers without any true substantiated statements.
There aren't that many people going far out to stand up for Worldco, and of those that are, I happen to know they aren't management at Worldco (they are doing it as traders who believe in the firm). And if you are thinking of challening my fairness, be sure to actually READ my posts, because I have been very objective in noting the upsides and downsides of the firm!
Quote from Mecro:
I did search.
He is full of BS. Whatever money he has made at WorldCo is obviously luck. His strategy is hysterical. I have never heard a great trader describe any strategy like that.
It's not right to post these BS rags to riches stories because you may screw up others lives thinking that the bashers of WorldCo have no point. There is nothing wrong about being realistic about WorldCo and the fact that they are more of a retail operation than a prop one.. If anything, the profitable guys at WorldCo should point out which groups care about their traders and which do not.
First of all, from what you are describing, EVERY PROP FIRM is actually a retail place. Secondly, there are definitely people who lie or offer unfair criticisms (as well as some people with legitimate ones) of Worldco, and these unfair criticisms should defineitely be addressed! By the way, I don't know who Silk is, but there are some traders at Worldco who made millions last year (including a couple people in FL, which is where one person suggested Silk trades). It is true, however, that most of these people are either down for the year or are not making much. This is true across all firms, and this is why 1/2 the traders have been fired and why ALL firms now require capital up front.
Quote from I Missed Boat:
First of all, from what you are describing, EVERY PROP FIRM is actually a retail place. Secondly, there are definitely people who lie or offer unfair criticisms (as well as some people with legitimate ones) of Worldco, and these unfair criticisms should defineitely be addressed! By the way, I don't know who Silk is, but there are some traders at Worldco who made millions last year (including a couple people in FL, which is where one person suggested Silk trades). It is true, however, that most of these people are either down for the year or are not making much. This is true across all firms, and this is why 1/2 the traders have been fired and why ALL firms now require capital up front.
Oh ok, so now no one really knows who this silk person really is.
If you had read my post, I clearly stated that I personally know there are (or at least were) guys at WorldCo that made millions quick. Almost all of these guys started back in 1999-2001, the good years. None of them were amazing rags to riches stories such as silk claims.
My point is that one should not post such outrageous claims without much detail to at least give it some kind of legitimacy. If you made money at WorldCo back in 1999, congrats, cause you better have had made money back in those days. But to make a post like silk which basically sends the idea that WorldCo made him a millionaire, that's just plain wrong. If anything, WorldCo will waste your time and risk capital if you are new/not very experienced. Let's be fair.
Most of the hate for WorldCo is justified. I think we all established that WorldCo has no official training nor do they seem to care much about their new hires. They just throw them in without any concern.
If you got into a good team, great job. Otherwise, you're screwed unless you get lucky in your trading or you have some amazing instant trading talent.
Quote from Mecro:
Oh ok, so now no one really knows who this silk person really is.
If you had read my post, I clearly stated that I personally know there are (or at least were) guys at WorldCo that made millions quick. Almost all of these guys started back in 1999-2001, the good years. None of them were amazing rags to riches stories such as silk claims.
My point is that one should not post such outrageous claims without much detail to at least give it some kind of legitimacy. If you made money at WorldCo back in 1999, congrats, cause you better have had made money back in those days. But to make a post like silk which basically sends the idea that WorldCo made him a millionaire, that's just plain wrong. If anything, WorldCo will waste your time and risk capital if you are new/not very experienced. Let's be fair.
Most of the hate for WorldCo is justified. I think we all established that WorldCo has no official training nor do they seem to care much about their new hires. They just throw them in without any concern.
If you got into a good team, great job. Otherwise, you're screwed unless you get lucky in your trading or you have some amazing instant trading talent.
Many firms have only superficial trading, or poor trading where they try to force everyone into a single system that might not suit them (not all firms, mind you). Meanwhile, its amazing that so many of the best traders have come from (some have left, and some are still there) Worldco. Also, I was not talking about '98, '99 or '00 (wasn't here then). I said there were many people here who made a million or millions LAST YEAR. And I am not saying that there aren't legitimate criticisms, but many of hte people here have made ILLEGITIMATE criticisms. Just because you don't like a firm doesn't mean someone else criticizing it is automatically legit. Some people got all the training and perks (were put in good groups) and just left bitter, because they couldn't make it. Or someone had a dispute that may or may not be the firm's fault. Other people probably didn't even trade at Worldco and are just trying to hype their firms. But yes, some people have legit criticisms, and I have agreed with many of these people!
Quote from Mecro:
I did search.
He is full of BS. Whatever money he has made at WorldCo is obviously luck. His strategy is hysterical. I have never heard a great trader describe any strategy like that.
It's not right to post these BS rags to riches stories because you may screw up others lives thinking that the bashers of WorldCo have no point. There is nothing wrong about being realistic about WorldCo and the fact that they are more of a retail operation than a prop one.. If anything, the profitable guys at WorldCo should point out which groups care about their traders and which do not.
How long have you been trading, tough guy?
but SILK is THE MAN
The story i told is true. I started Worldco in november 2001 with a 3k capital deposit (That was about all the money i had at the time). In 2002 i made over 2 million daytrading. It was my first year daytrading, however i had been playing the market and investing since 1991. I've been a Pro full time since 1999.
I trade based on "feel" and have no set system. Try to figure out what stocks/sectors act well and which don't. It is a purely discresionary system.
I don't think it could have been luck. I as up 78% of my trading days and had only 1 down month. My best updays were larger than my worst downdays. I think it is statistically impossible for it to have been luck. So that should give folks hope that day trading is possible.
This year i had an awful first 6 weeks of year. But i have faught back and am basically just down commissions now (which is alot!).
It is a very frustrating market. One that isn't much fun for stock traders. Great for futures traders i guess. I don't know. I just know stocks don't have much personality of their own right now. And that really hurts me. Its hard to guage the mood in a stock when there is none. In this war time environment all that matters (for the most part) is are futures going up or down.
As for whether Worldco is good firm. I never traded anywhere else so i don't know how it compares. But florida office is a happy place and a good environment i think.
I trade based on "feel" and have no set system. Try to figure out what stocks/sectors act well and which don't. It is a purely discresionary system.
I don't think it could have been luck. I as up 78% of my trading days and had only 1 down month. My best updays were larger than my worst downdays. I think it is statistically impossible for it to have been luck. So that should give folks hope that day trading is possible.
This year i had an awful first 6 weeks of year. But i have faught back and am basically just down commissions now (which is alot!).
It is a very frustrating market. One that isn't much fun for stock traders. Great for futures traders i guess. I don't know. I just know stocks don't have much personality of their own right now. And that really hurts me. Its hard to guage the mood in a stock when there is none. In this war time environment all that matters (for the most part) is are futures going up or down.
As for whether Worldco is good firm. I never traded anywhere else so i don't know how it compares. But florida office is a happy place and a good environment i think.
not to bash retail, but if you put up money then for all practical purposes you are retail, even if the regulators don't see it that way.