Zone Trading - Austin TX
- Thread starter Darv
- Start date
Yeah your probably right. I guess its a fine line between the two for some.
Back in the heyday of day trading (1999-2000), when I was at Protrader it was almost a right of passage to take a week and make a pilmagrage of sorts the Austin Protrader office (what is left is basically "Zone trading" as I understand it).
They were 5-10X larger than about any other office they had and all we would here were stories about how much they were making every day. Everyone was making money hand over fist that year but there were days when the manager of the small office I was in would come out and go...your not going to belive this but "XXX" in Austin is up over a 400K intraday. It was surreal, because for a while they were putting up huge numbers what seemed like every single day.
When a guy in our office banged out 10-20K everyone would go out for beers but to hear that some guys were up half a mill, that was just mind blowing for me at the time.
Don't know if the location of Zone is the same as the old Austing PT but they had a pretty big floor, with a john ogg type guy reading headlines right in the middle over the speakers long before I ever knew about the real ogg. LOL.
I went down there a couple of times, the first time with two friends for a week to see the now CEO of Zone trade as well as few of their other "heavy hitters".
Looking back it was mostly for show. The largest trader I saw there wasn't even trading so much as he was just running his own personal hedgefund. He must have had 150 open positions when I sat with him. He just sorted everything by pullback and kept tossing out losers all day long letting the winners go.
It was nuts back then.
FWIW, I got killed trying a few of the "basket type" strategies I learned down there. Very expensive vacation for me. LOL.
Magna
Administrator
Unfortunately you've hit the nail on the head, things would get out of control very quickly. Or another way of looking at it is Baron would be providing his time, his programming skill, his website, and his money so that these companies would have free advertising. Sounds silly when you think of it that way. And it's downright presumptuous for companies to act as if they're entitled to it. As a condition of the Member Agreement before being allowed to post on ET there can be no free promotion or recruitment or advertising of your company. Simple as that. Which means you can't list all the goodies your company offers, all the nice deals, the sweet perks, payouts, etc etc etc because that is promotion, that is advertising.
Darv
I know a trader who trades there. He has been there about 2 years and from what he tells me it sounds pretty decent to me, they offer training and sponsor and pay for the 3 licenses you need. I do know they require no captial deposit. If you are interested i can tell you how to get into contact with this trader and get his opinion.
I know a trader who trades there. He has been there about 2 years and from what he tells me it sounds pretty decent to me, they offer training and sponsor and pay for the 3 licenses you need. I do know they require no captial deposit. If you are interested i can tell you how to get into contact with this trader and get his opinion.
OK Darv,
1. Follow up on the suggestions given above.
2. Do an Elite Trader "Search" for the many prior discussion threads on the same topic.
3. Check out the Elite Trader Hook Up forum (not just
for "Horns"
) and its current Anyone in Austin, TX? thread. Contact peterfigliozzi, hillcast2, in the newly formed Austin Traders E-mail Group to meet local traders. 4. Sign up online for the Traders Expo Nov. 20-23rd, and take a pass for that Thursday's and Friday's UT classes since you haven't missed any already this semester.
Grab a 14 day advance ticket, and fly (with AMT4SWA) a little farther down the road into The Great American West, where you'll have a great time in Vegas meeting traders of all types, and principals of prop/pro firms to learn firsthand what each offers the new trader.
You've got a great opportunity to start formulating a decision for your future if you're truly serious about
trading as a career. No time to waste - just go for it -
and good luck!
No one can "list all the goodies your company offers..." unless you are an advertiser, then you can raise "red flags" (read: slander) about a competitor.
http://www.elitetrader.com/vb/showthread.php?threadid=24168
http://www.elitetrader.com/vb/showthread.php?threadid=24168
Quote from Avalanche:
(what is left is basically "Zone trading" as I understand it).
It has been related to me by a trader that my assumption was incorrect, there that is hardly anyone from the old PT office is at Zone Trading, the former Partner is the owner but apparently about everyone that is left of the old office that I visited a few times is still at the old location, trading as retail customers of ETG.
See what happens when you make assumptions. :eek: