I spoke with my friend again at HLV and he said you do not pay taxes on that 10% that HLV keeps however, if you have a lossing day you are responsible for 100%, HLV does not participate in your losses, only gains, still souns like a scam. Also my friend said that they train you to churn your account to generate commissions, they make you trade $2-3 stocks all day, causing big commissions. Doesn't sound to promising over there, I think my friend said he is leaving
sounds like we need to get first hand information!!! .. "and not he said she said" ... speculation isnt needed in the forum is it.. there are many other firms that wanna bash and have an "AGENDA" if your not in a position to comment first hand.. Disregard hearsay. There are some prop shops out there charging more then retail per share comish. thats what I consider a burn .. If the comish is cheep enuf .. its an edge on the trader and the company making money .. VS just the prop shop when many first begin trading. my .02 R.D.
BLUEBALLS you OBVIOUSLY no nothing about trading or BASIC math. You probably don't have a friend who trades at HLV either. IF you did, he would have told you by now that HLV prop traders do NOT put up any capital to trade. There fore you would have figured out by now, using 1st grade math.........if traders put up NO capital...........there can be no such thing as "churning" or "causing someone to generate commissions" because that would be coming out of the firms pocket, not the traders. HLV prop traders don't put up any capital and don't owe any if they leave. Your comments are unfounded and without any facts behind them. As far as what can be traded, Prop traders start out scalping and learning a few stocks to learn proper execution and discipline. When that is acheived more volitility is added to the traders basket of stocks to trade. Contrary to popular belief being a professional trader is someone who routinely takes CONSISTENT money out of the market. It is not about telling your friends on saturday night about tradeing GOOG. That is why the basket is small for new traders. SO you can earn while you are getting real experience. Traders with HLV who put up their own money are NEVER told how frequently to trade or what stocks they can trade. Your posts are getting tiring. I don't know what your problem but obviously you have issues, but don't have any facts. DTP
Is what my friend friend told me, no hearsay crap! Why would someone make this crap up? It is a fact my friend also told me that HLV has bounced checks on some of there traders also! Why would someone make this stuff up? I'm just looking for a ligitimate place to trade and feel safe!
Blueballs, why do you keep answering your own posts? It is interesting to see that you only have posted 9 times and every post is about HLV. Obviously, you are not looking for a firm to trade at, but instead looking to bash a firm you know nothing about.