How exactly do you get around the margin and capital rules for non-licensed traders? I thought it was $25K minimum capital and maximum 4:1 intraday leverage if someone didnt have the series 7. Ace.
Don, after reading the article, it appears that Bright has its "ducks" pretty well lined up. Some thoughts: "Las Vegas-based Bright Trading is offering young workers - including some as young as high school seniors - an opportunity to learn the stock trading business using the firm's money". Kobe Kids? " 'I would rather have these youngsters right out of school rather than some of the experts on Wall Street.....', [Don Bright] said." Stock Brokers, Analysts, Fund Managers? " 'The firm prefers young and inexperienced traders, because they haven't developed bad habits', [Bright] says." Like ET Chit-Chat Regulars? I hear that Vegas is also supposed to have a "milder" than usual summer this year... How did you guys pull that off...? (Italics added by poster)
There is nothing to "get around" - everyone uses our capital, that's all. We are not a "retail firm" and no one has "accounts." Don
I want to thank those of you on ET that came to our "Test Pilot" group yesterday....especially those who drove for hours to get here. We had around 50 people show up, we have a bunch of good candidates....it'll take a day or more to read through all the information..... We may have to have "2 waves" of people (or more)....I'll keep you posted on how things work out. Thanks again !! Don
Don Im moving out west and would b interested in stopping by and seeing ur offices PM me if its a poss....