Commissions!! Commissions!! Commissions!!

wookie · Apr 24, 2003

Wow you must swing a big stick. I have never spoken to you, nor any of your acquaintances. Keep your opinions to your self and trade.

TradeStocks149 · Apr 28, 2003

Quote from mschey:

I have been reading your posts for months now wondering who is this cat that "knows it all" and continuously bangs the same old tired drum? Who is this guy that seems to contribute nothing of substance to this message board? I finally figured you out...you're a retail piker! What's the matter, couldn't pass the 7 or 55? Only retail guys get SIPC insurance, professionals don't. Your disadvantage is leverage...you keep playing with that 4:1 intraday. There are many advanatages to going with a prop firm. The main advantage is use of the firms capital. I have an edge in my trading. In fact I have multiple edges that I am working to exploit. How do I best exploit them? With 4:1 buying power and having to commit all my funds to my trading account? That's real smart. NOT! My unlimited buying power provides me a huge edge over you and your .0035 rate all in. I can aggressively pursue my edge in multiple simultaneous strategies. For example, one of my strategies edge is as little as .005 cents but I am still able to bang out money every single day because I can get into the laws of large numbers much faster than someone bound by the constraints of 4:1 margin. More importantly, I know what my risk is with my prop firm, I can't lose more than I put in. Why would I need SIPC insurance? I manage this risk by controlling the amount of capital in my account. By sweeping funds out on a regular basis, I then put my excess capital to work in other investments, these include realestate, coins, and gold. Each of these has significantly outperformed the market for the past 18 months. So you tell me who has the real advantage? The retail piker or the professional prop trader who systemically trades and exploits his edge, manages his systemic risk, individual strategy risk, and firm exposure risk?

As far as bloomberg goes, who has time to read the news and watch for headlines in the middle of the trading day? The tape tells all. I might get caught in the intitial move in the stock, but a quick read of the tape, and quick thinking and reaction on my part and I will on my way out of trouble in a matter of seconds, all the while you are still checking the news and reading the story. Bloomberg is way overrated as a trading tool.

As this applies to trading, the bottom line is this. If all you are worried about is your deal, then you will be out of business very soon. In life, we get what we focus on. If you focus on, and work at becoming a better trader, you will do that. The true edge in trading comes from finding trading strategies that work and systemically exploiting them, fine tuning them, and puling conistent money out of the markets. Not, and I repeat, NOT in shaving an extra 5 or ten basis points off your commission rate. Especially on volume of only a couple million share per month.
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Very well said. This person is a completely uneducated trader who spends all day long posting inaccurate information. Sambatrade gets paid from a firm recruiting and bashing everyone else on this site. Moderator, please ban Sambatrade. I know many people who feel this way. He/she really "cheapens" the forum.

Thanks

okwon · Apr 28, 2003

Tradestocks149

It's obvious you are a firm owner that makes money off of ripping off your traders. Why would sambatrade be banned? That's just ridiculous. Are you afraid some of your traders will read this forum and figure out that they are getting fvcked?

Sorry, but sambatrade is not recruiting for anyone. I know that for a fact. He's just a regular trader at a firm.

wercurna · Apr 28, 2003

Hey,

Thanks to guys like Samba trade i made an extra $3000 last month. And hopefully i will end up making more if more of us help him.

Thanks Samba,

TM_Direct · Apr 29, 2003

Quote from wookie:

Guys,

If you don't know the laws don't open your mouths and start spewing garbage....

First of all the firm I trade through all the money in my accounts are SIPC insured

Second when I get 50 traders in an LLC I pay the department of state their $240 and organize another LLC..... It does not take much vision to figure that out. Wow Now I know why more people don't run shops.

As far as the 3K goes these guys are trading My money, not firm capital. I can give power of attorney to a monkey if I choose to do so. Does a black box need a series 7?

And if you think it's too good to be true send me a pm. I'll tell you the deal, come and meet my traders ask them what they think...

Again with other LLC's giving us all a bad rep

I'm Tired of it
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Interesting action against this hedge fund....Im not sure if your LLC is the same way, I will give you the beneift of the doubt, but this link underscores the risks involved with these partnerships.

http://www.nasdr.com/news/pr2003/release_03_015.html

TradeStocks149 · Apr 29, 2003

Quote from okwon:

Tradestocks149

It's obvious you are a firm owner that makes money off of ripping off your traders. Why would sambatrade be banned? That's just ridiculous. Are you afraid some of your traders will read this forum and figure out that they are getting fvcked?

Sorry, but sambatrade is not recruiting for anyone. I know that for a fact. He's just a regular trader at a firm.
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That is inaccurate. Actually, I have great rates, I just think that people on this site are encouraging traders with low volume to get extremely low rates. That is not the way it should work. You should earn your way to low rates, I know I did.

stevematri · Apr 30, 2003

I work with a software and clearing firm which can get you the best rates on the street regarding bullets. Please let me know if you would like more info.

hardrock375 · Apr 30, 2003

Quote from stevematri:

I work with a software and clearing firm which can get you the best rates on the street regarding bullets. Please let me know if you would like more info.
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And, you guys use yahoo for your email? Get out of here dude.

TM_Direct · Apr 30, 2003

Quote from stevematri:

I work with a software and clearing firm which can get you the best rates on the street regarding bullets. Please let me know if you would like more info.
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Do you clear trades for Shill Securities, llc????

TM_Direct · Apr 30, 2003

Quote from hardrock375:

And, you guys use yahoo for your email? Get out of here dude.
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LMAO!!

I was thiking the same thing!!!!....I hope Shill securities drops them