Zboy---Be it known that I shall comply with the laws of the court. My lips are forever sealed(on this subject).
Very interesting point of view. Within the same guidelines, I want to say that I believe that Robert has done an excellent job on this board. In fact, I have tremendous respect for Robert although our position sizing methodologies are as different as night and day. But as long as we both make money, I don't care who is wrong or who is right (joke). All things aside, I would be interested to know if Robert gets paid referral fees. I think he managed not to answer this question. Not that it makes any difference to me, but the old-fart detective in me wants to know Bill
I think it was important that Hitman made it clear that he will be receiving referral fees from anyone he recruits from this board, that's one step in the right direction. Rtharp talked about everything but referral fees with his reply. I still would like to know if that is the case with your echotrade affiliation. If rtharp does not receive referral fees then I believe his posts to be legitimate. What I would like to see take place on this board and through an NASD guideline is to have any individual whom has an affiliation or referral agreement have it publicly accessible. Nevertheless, letting traders know on this board within your signature would be a wonderful way to build legitimacy for yourself and the proprietary sector.
i would like to point out that both Hitman and rtharp have both been very upfront about their affiliation with their respective firms.. its not like they are pretending to be objective outsiders.. and what if they were recieving some referral fee or other benefit for bringing new traders to their firm (and they have not said this is so).. does that somehow diminish the value of their posts? if so how? while i disagree with many of his comments, Hitmans journal brings an approach to trading to this board that i havent been exposed to elsewhere.. Hitman, rock on man.. Sniper, awesome way to ask your question.. =) ***disclosure*** long hitman and rtharp, short the cynics -qwik
Yes, I also would like an answer to this question.... tharp, do you or do you not receive monies or remuneration in any way, shape or form from referrals or leads to Echotrade or any of its affiliates?
I am working on becoming a manager for Echo. I have no written agreement as of this date with Echo about referral fees. That will change eventually though with management. This is why I did not reply nor disclose. It was something this is being worked on but not happening. How do you think I am being paid by the firm? I get a small % of commissions who will be in my office. I don't work for free. Are the traders charged extra due to having come from me? No it comes out of Echo's pocket. Am I recommending Echo because of this? NO. I am answering questions about professional firms including mine. I have inside knowledge and am willing to stand in the limelight. I have made it very clear of the disadvantages of my firm, such as the lack of SIPC insurance, and the inablility of using SOES or a trader who is unprofitable has to eat their own losses. If I was trying to promote ECHO as I'm being accused of (and take offense to) Would I post my competition at all or give out contact info about them. Such as this thread. http://www.elitetrader.com/vb/showthread.php?threadid=1608&pagenumber=3 I just added All Tech within the last few days due to learning of another firm from a post here. What I have done is learned a lot about a firm due to joining them. I had an interest in this type of firm for awhile. By becoming a member I've learned a great deal about them. I've answered quite a few questions that other traders have. How many guys you know that hype something make it readily available to have others check on competition? They are usually afraid of competition. I feel Echo is very competitive and therefore can stand up to what other firms offer. rtharp
I just caught up to this thread -- OH BOY what a farse! I have nothing but respect for Spud's (Steve's) question. And now that it has been answered, can we drop this? I would have the same response regardless of who was being questioned, but i know Robert personally. As many here on this thread have indicated, Robert is a man of impecable integrity and freely gives of his experience and knowledge. I know of few in the trading community that share Robert's concern and respect for fellow traders. In the height of the crash Robert was over at ClearStation counciling and warning those, that would not believe the Bull Rush was over, that cutting your losses was a key element in trading. He taught many about risk, position sizing, and the psychology of trading. I could go on about the contributions Robert has made to the trading community, but i really see no point. The point has been made. Please evaluate what has been written; pose any, well reasoned, last concerns, and let's move on. The embarassing tit-for-tat name calling is not what this web site is for. If you want that, go to raging bull, MSN, or yahoo -- not here! regards/greg
Just out of curiosity, may I ask why are you doing this? How does this add up to your expectancy formula? (joke). No, seriously, why would a very successful trader look for a job? I thought the reason you went to Echo was to get more leverage, so you could make more money. Did I miss something? I enjoyed seeing you at the DTUSA Meeting. Bill
Greg..........not MSN!!! We would have to edit all of those if they were on our site rather quickly!!! At least this site doesn't get the put a dollar in an envelope and send it to 5 people cr*p that seems to post on my site every once and awhile. For Everyone's info.... Greg or GH2(above post) is my assistant manager for my website. He volunteered when it was first being started. We met at a trading seminar a few months after he had been helping me. I did not bring these posts to his attention though in anyway. (there I disclosed that) man I feel like a lawyer ....legal disclosure here... don't do this. don't do this. Ok to answer post I'm not looking for a job why would I ??? I am looking for ways to excel to what my ultimate goals are. I feel I need to be surrounded by many traders who are doing very well. For now message boards , some emails and a few phone calls are my daily way of having this. I understand I don't know everything and 2 heads are better than one. One of my dreams is to be in a trading office full of top notch traders. I want to be surrounded in the ultimate trading enviroment. To have traders at the level I am thinking of means I am going to have to train them,get others in my firm training them and constantly coach them. I've found a few traders who were clients of my father which is a step in the right direction. We all understand the same rules of Position Sizing, expectancy. I am looking forward to having reviews everyday after the close of what I did wrong as a trader and hear others mistakes and what we can do to improve. I'd like to be able to have more eyes to finding stocks I like. (no matter how hard I look someone can usually find something I can't) I'd like the idea of being able to bounce idea off of top notch traders. When my systems aren't working it would be nice to learn a system that currently is so we can copy it till the market changes. I'd also like the idea of being able to use Dual T-1's with Point to Point connections, Super high end computer equipment, First Alert, A squwak box to the S&P pit all for a cost that is very affordable because it ends up being split amoung a quite a few traders. Equipment of this type isn't possible trading at home. Overall I see it as a way of bring my own trading to levels I can't even begin to imagine right now as my goal. This isn't something I can accomplish alone. I did disclose that Echo will pay me a referral fee in the DaytradersUSA meeting I recently did. That's on tape if you want to hear it by listening to the webcast. rtharp.