You are definitely sleek/sharp. Brendan P. Byrne you are buttering people up before the slaughter but don't worry about me. Suckers born every minute. Your success is assured.
theres the key my friends. see they're getting around the deposit rule by having one deposit it in a neutral escrow account at there lawyers office thus the firm is not in charge of the money. since very few profitable established traders would take a 60/40 type split i'm willing to bet most of the traders are new in nature thus a much higher profit split for the firm. nothing wrong with what they're doing but again shop around and make your own decision. on the other side i think brendan has been upfront about there model.
Brendan, That is excellent that you "pass along our costs". Can you please post what these are. Obviously since you pass on your cost everyone must trade at the same cost so you shouldn't have a problem posting them. Maybe one of the 100+ traders can post what they pay per share at Epiphany.
Piggie, They are not "getting around the deposit rule", they ARE taking a deposit!!! Who cares if it's held at an attorneys office....its still a deposit!! Your losses still come out of this money! I think Brendan has been caught in a lie when he posted "A. WE NO LONGER ACCEPT DEPOSITS." I guess he can hide behind his attempted play on words, but it's still a deposit.
As the trading person/contact, let me address this one. I already discussed the methodology (and gave specific examples) in my response to you. What we are doing are NOT "obvious" momentum plays. Quite the opposite. It is not obvious to most people that if the CEO of a company resigns and the stock opens down but approaches unchanged on the session to actually buy the stock if it ticks into positive ground. What most people do is short it thinking there is no way it'd get positive. If it was so easy, everybody out there could make money trading "obvious" momentum plays. I've also addressed 'looking over accounts.' Before, I extended what I thought was a very kind invitation to you to join our chat room and watch from afar. I'll now do you one better: I invite you to do what two people did in the last week- watch me trade. Sit next to me and watch what I am doing. I don't know how to make it clearer- I nor anyone else has anything to hide. I cannot guarantee you performance on any given day, but the offer is there. And I won't speak for Brendan because it's not really my place to do so, but I am fairly certain he'd be comfortable with the same offer as he too has done the same thing twice in the last week alone for prospective traders. Re: "I don't know any successful trader that puts this much effort into Public Relations and web operations and have time for trading. " I have addressed this as well on this forum repeatedly. You'll note most of our responses are not on here during the trading day (unless it is very slow in the middle of the day). Any efforts towards anything other than trading tend to be done on our time. Speaking for me, I start doing prep work for the blog (for that morning's newsflow) around 6AM, I usually start seeking out trades by 7AM, I monitor and study the news flow until i post the blog (while trading). I do the morning call just after 9AM. I trade very actively between 9:15AM and 11:30AM. Then, I tend to do things like research pieces for the blog, study earnings flow/estimates, look over previous day's trades to better my own quality of trading (i.e.e see what I did right or wrong), answering questions from our chatroom...then I trade very actively again most days between 2:30PM and 4:30PM (and oftentimes longer). Obviously, when the market is busier, that 'busywork' gets shoved to later. By 7PM, I have the beginning of the next day's blog done, work on updating the watch list, do an hour of tech research, do our video afternoon call, and answer more questions. I haven't had a true weekday lunch in the office- ever. So, you're right- for me anyway, it is absolutely impossible to do any sort of web operations and trade at the same time- so I for one don't try to do so. I again wish you every good luck and every invitation to watch us from afar via the chat room- or up close by coming to the office.
I do not operate under an alias, my name is Potential Customer. You have burst on to the scene claiming how well capitalized you are in NUMEROUS posts, BUT YOU CAN'T BACK IT UP. I asked Don Bright for their financials a few months back and he emailed me them 5 minutes later! You have said you are NOT operating as an unregistered Broker Dealer because your expensive attorney said so but YOU CAN"T BACK IT UP. You have said you "no longer take deposits", but you do, so that is an outright lie. If you expect me, Potential Customer, to even consider doing business with you, you need to be a little more open and honest. Sincerely, Potential Customer (not an alias)
congratulations on blowing up an entire thread. Whats wrong with the prop firm you're at now? Oh thats right, you must be this massive retail trader looking for the extra leverage, right? Or you must be this experienced prop trader just hunting down the best deal... o, the irony in your alias. shoulda been captainsemantics2009. and your attitude..."name is Potential Customer". this isn't mcdonalds. from a cynical point of view, you're at the mercy of a prop shop just in terms of leverage. for a scalper, you don't have any other options. for most serious traders without daddy's trustfund, you need a prop shop. Its a necessary evil if you will. (it doesn't have to be, but that should be accepted by any profitable prop trader...where else you gonna go?) this isn't retail. so you can't come in with this, "i'm a potential customer" attitude. thats not how it works. its a small industry, and you definitely won't have a good time running around with that attitude. go be a prick at mcdonalds, sure. treat the etrade rep like he's an asshole, fine. but thats not how it works in the prop industry, so do yourself a favor and realize that its a relationship to start, unlike in retail, that actually matters. (well, actually it really doesn't matter for you because i seriously doubt you're even in the prop industry in any capacity)
All I asked for was for proof of statements that he made on a public forum, as well as an explanation for an inconsistency in his statement on a major issue. Is that too much to ask for?
Only if you also called them a liar. However, you did say "I think..." as if you were not sure if they are lying or not. Therefore, it's possible you weren't implying they were lying. Instead, you're just curious if they are lying. I'm obviously trying to be a little sarcastic and play with words here...nothing personal.
Wrong. T3 is set up as a true Hedge Fund. They actually spent the money to have it set up properly. They didn't choose to have a "hedge fund like" structure. Also, just because your deposit is held in an escrow account does not mean you are operating an unregistered broker dealer.