Your thoughts Mr. Maverick

[CQNC]

Quote from Don Bright:

Yes, as Mav says. You gotta figure that a retail customer would NOT allow the firm to keep any share of profits, so by default they are a prop trader.....subject to some interpretation of course.

Don

Considering a retail account is subject to the $25K day trading restriction, and commissions are considerably higher, and margin considerably lower, I find it funny they need to make the distinction. No "trader" is capable of making the same kind of profits on a retail account, or run HFT, or any of the flags flown lately against props that a prop account is going to on 10x, 20x, 100x, 200x margin.

I'm still trying to figure out IB's margin formula on portfolio margining, and TDA.TOS has a new formula posted on their site that's a bit confusing. How are we supposed to know what our exposure is from minute to minute using these formulas compared to simple 4:1, 6:1?

No wonder so many rookies are confused by all this.

BTW, is the Vegas trader expo worth the trip, other than the hookers?

 

[Maverick74]

Don....Chi-town?

 

[cactus_trader]

Quote from CQNC:



BTW, is the Vegas trader expo worth the trip, other than the hookers?

No for both


Anyone looking to join a CBOE firm must also prepare a letter/explanation briefly explaining their style of trading.

 

[CQNC]

Quote from cactus_trader:

No for both


Anyone looking to join a CBOE firm must also prepare a letter/explanation briefly explaining their style of trading.

Do I need an explanation letter for the hookers too?

 

[Soon2Bgreat]

Quote from CQNC:

Do I need an explanation letter for the hookers too?

No, that's used in court afterwards

 

[stockwrangler]

Quote from CQNC:

... BTW, is the Vegas trader expo worth the trip, other than the hookers?

Depends on your worth as a poker player.

The Local trader/players look forward to hooking up with Expo attendees
and cleaning 'em out at the table$ better than the vendors do at the Expo.

This year, count on hungrier Locals to have more tricks up their sleeves than ever.

 

[Don Bright]

Quote from Maverick74:

Don....Chi-town?

Looking more like Nov now....I got invited to a "high roller" trip to SoCal....with my brother .gives me a chance to have some fun with Bob....that's the weekend I had made plans for Chicago....I will let you know... I have several people I need to meet with personally.

Don

 

[CQNC]

Quote from stockwrangler:

Depends on your worth as a poker player.

The Local trader/players look forward to hooking up with Expo attendees
and cleaning 'em out at the table$ better than the vendors do at the Expo.

This year, count on hungrier Locals to have more tricks up their sleeves than ever.

Poker, huh. Hmm. That makes the trip even more enticing. I'll bring a big bag of CDN$ and an extra empty suitcase for the trip home. Should take me all of an hour to wipe their asses with my Elisabeths if the forex and bond markets are any indicator of their ability as "traders".

 

[CQNC]

Quote from stockwrangler:

Depends on your worth as a poker player.

The Local trader/players look forward to hooking up with Expo attendees
and cleaning 'em out at the table$ better than the vendors do at the Expo.

This year, count on hungrier Locals to have more tricks up their sleeves than ever.

Those who can, do. Those who can't, steal.

 

[JamesL]

from the bulletin:

All persons associated with the broker-dealer must be appropriately registered with each SRO of which they are a member or TPH in accordance with the rule of each SRO of which they are a member.

Does "appropriately registered with each SRO" mean that members will soon have to be 7'ed, etc? I know there was discussion about this earlier this year, but does this notice push it closer to reality?