know anything about etgtrade.com?

Ruler,

Are you aware of any other firms like this that pay a salary and allow you to trade their capital? Have you traded with a firm like this? Are there better setups for someone without their own capital? You seem to have some inside knowlege of this. I am just amazed as I have never heard of this before and it all sounds to good to be true for someone in my position. I have found that in this business anything that seems that way probably is.

Kirk

 

Ruler,
You expect anyone to give you "free lunch" ??? I am not saying these firms are charities ! Yes there is a haircut
and my friend trades only ARB's and he will do a day or two
before the deal goes thru. The haircut is there at Bright
as well as ETG, so you are right ! Anyway, I never said
ETG was a saint. However if I am single and a young guy. 50%
of profit (if I can get any) for no risk of my money is
no chicken shit, it's chicen salad ?? No ??
The difference that if you are at Bright you keep 100% !
and if you are consistently good you can make a shit load of
money but Bright will not risk a DIME of theirs. Kanter(ETG)
can lose money dealing with these young Turks. Most very
good traders have left ETG because he only paid out 30% before.
However ETG takes on some risk and pays salary !! What would
you have them do ????

 

i am curious if anyone can explain why ETG is no longer listed on the Broker Page. why would a company not want people to freely debate the pro's and con's of their business???

 

Actually this is probably because we need to point it out to Baron.

Baron ETG isn't listed. Any reason?

rtharp

 

Could it be that they are NOT a broker/dealer firm ???
I hate to put words into Barron's mouth but it seems a real
possibility. LLC's are not major part of level 2 daytrading
scenario. They are distincly not a B/D entity. Lately there
was some very good discussion about ECHO and pros/cons of
LLC risk/rewards. ETG/Kanter is a very low profile and
secretive entity they don't (can't by law, I think) advertise and since major defections from their best and
youngest stars they feel any outside LLC a major threat.
They used to offer a "screw you" deal of 30% of your make
plus salary(minimal at that). Now most traders think that
less than 50% is an insult and keep the scuzzy salary (what
can you do in NYC with $1500 a month ?)
Most of their brightest went to weakly funded upstart firms
so some may get screwed even more (see why LLC are dangerous thread)

 

On advertising. How is that exactly phrased?


I've seen ads for Bright in Active Trader Magazine
Schonfeld in now advertising also in there.


rtharp

 

now, that's the 'good' sign about the company :-( They are afraid of what people may think about them...

 

Well Baron can't place them on the site but others can comment on this thread......


Anyone been with ETG trade w/comments about them.

rtharp

 

anybody have a website on these guys?

seems their desire for not being in the open, just might be cause to look into their success....