And I really don't know how to get through to know it all traders who have NO CLUE how the industry works.....I don't knwo what else to say at this point......question though: 1) You found swiftrade? Their FINRA broker ck says they are out of biz....the guys from swiftrade may have aligned with another B?D...but Swiftrade is Inactive....yes or no is Swiftrade a FINRA member? ( they did not change the name BTW) 2) If you have ZERO capital at risk,,,,,how are you getting 10:;;1 or more leverage? Your not getting any leverage unless you put equity up. 3) If you make 20k in profits this month......and the firm ( god forbid) closes before you get your check.....do you have money at risk? I may not know about your specific style of trading ....but trust me when i tell you I have forgotten more in this indusrty then you will ever know.....
You pretend to know exactly how it works, but you simply don't since you can't give the explanation for Swift's high leverage either. Traders don't put up money and swift for sure doesn't have $250,000,000 in their LLC's. Like said before, branches put up $5,000. For this, they get the BP that they need, which might be more than 50,000,000 , so in terms of leverage, that would be 1:10000, lol
You guys crack me up....I pretend??? LMAO...Oh Ok...Im sure I canot possibly match youur wisdom and experience...question: ARe you registered? Ever serve on NASD committees? ever sell clearing? ever sign on over 100 frims to clear through you? re:;; Swift....They are piggybacking Penson...If penson is JBOing ( do you even know what that means or what happens?) they can give out almost 7:1....if they are now doing portfolio margining they can give a little more...the bottom line is....have you ever in your life extended margin? Buying POwer? Have you ever issued a m-call ( do you know what that stands for?) for a couple million becuase a firm blew through their BP? once again.....just becuase the firm tells you you have 50 million in BP....doesn't mean you actually have it....and unless all the branches each had open 50 million dollars worth of BP in positions...it is kind of moot...don;t wast my time any more ...seriously...I could be an awesome resource for all of you to use yet ass holes like you who have never done squat excpet work for the man give me shit.... your nothing but a tool being used...they tell you these things you think are real and then you actually believe them LMAO...PSSSttt...here's another secret....Hedge funds and LLC's.....they are on the radar and the regualators are looking long and hard at making them compliant and on the same playing field as FINRA firms...now you see ....if you look it up you will only see a couple of speeches re: hedge fund and llc regulation...but if you work with the committees who meet and discuss new regulations and proposals you would know this....but who am i? I have no clue...but mark my words right here: once they start bringing it up at District...it will be less then a year...options could b next after that (25k min equity ) for al opton traders remember BUllets?? Shorting? SOES bandits? day trading with 1 k in your account???
Here you go again. Bragging about how much you know, calling others names and not giving any good explanation for the Swift situation at all, because you simply don't know how Mr. Beck did it. Again, Swift doesn't get 1:7. They get 1:20 at least. And there's no WAY that the BP isn't real: Swift has been in the business for a long time and didn't get one fine for over leveraging (unlike HLV for example, who DID hand out more BP than they had and got fined for it of course)
And you DO talk to him ? Lol. Because if so, you're certainly not talking about his business since you're really clueless about that (not knowing that traders don't deposit money, not knowing their B/D, etc) If you'd set this without having the right (legal) rights to do this, FINRA will fine, (and this won't take too long) Lol. Seriously, you might know a thing or two about clearing, but you obviously don't know anything at all about (prop) trading. Could be, would be ... You compared yourself to Don Bright before, thing is, he IS a great resource to this community. All you do is bitch, brabble nonsense and telling us how big of a great resource you COULD be ... lol
Nitro...You know me......you know about me....do i have any reason to lie? I seriously have been trying to educate some people...if they don;t like the answers Im sorry but its the truth...for instacne I had a well known group that actually only had about 650k in BP becuase they lost over a million trading.....we sent them the BP and they set all their traders ( 50+) with 250k in BP.....OOPs....they went over and huge call was issued and tradign was stopped....of course...they made it seem like a'techincal glitch"....as I asked dumb ass before... DO YOU KNOW WHAT A TIME AND TICK REPORT IS? i ''ll give Mr. No it all a few more minutes so he can try to do a 'google' search on it
Ah, you've read his website, that indeed makes you practically his best friend. No wonder you know so much about him and his business. Yes, you've asked all kinds of questions. I could do the same and ask you all kinds of questions too, like your age, the amount of pets you have, your neighbour's name, etc, but I'm really not sure how that all is relevant here. The question here was how Swift can hand out $1,000,000,000 in BP. You obviously *KNOW* that Mr. Beck has more than $150 million in his LLC's, because you've read his website, so that's obvious. That solves it indeed. Thanks for sharing all your valuable wisdom in this thread, you really make ET a better place !