Offer from Wordco

trader88 · Sep 11, 2002

Ron,

Without giving any specific technique away, could you tell us what trading style Lynx trains their people on - scalping, sector trading, filtering, etc.?
Thanks.

I Missed Boat · Sep 11, 2002

Originally posted by MVP
That's a fair price.

Otherwise, the firms are gouging you...
More...

well then I've been gouged for over a year!

I Missed Boat · Sep 11, 2002

Originally posted by Thug_Life
An important detail about the wldc "ticket" charge - they only charge you once per day per stock. It is more like a $4 "stock charge." If you trade one stock all day, you only pay $4 in ticket charges, $2 buy and $2 sell and no more for the rest of the day unless you trade something else. At least, this is how the "ticket" charge was applied to me.

They are not very up-front about the way the ticket is applied, and that only hurts wldc. There is a big difference in only being charged once per day.
More...

I thought that's how ALL ticket charges worked!! Am I mistaken??

I Missed Boat · Sep 11, 2002

Originally posted by mook_trader1
all of you are so focus on insignificant things.

Two things newbies need to know.

First,
All that is important is capital contribution. Pay nothing if you can. If you guys want to trade with zero capital, go to worldco, send in a resume saying you got a 3.8+ gpa from harvard or some other top school and they'll beg you to trade with no capital down.

Second, if you can't get around capital contributions then put down no more than 5k. Your deal doesn't matter. what difference is 1 cents a share vs 1.5 even 2 cents for that matter, you trade 100 shares when you start. the difference doesn't add up to sh*t!! once you start making some money, you can get the best deals on the street from them. You just have to keep going back to them saying your going to leave and watch your commissions get slashed so low you wouldn't believe it.

anyway the point is if you are not making money why the f*ck do you care about your payout, if you trade a few thousand shares a day what difference is commissions of 100 vs 150 a day. Learn to trade and make a few g's a day, you'll make back 6 months of high commisions in a hour.

Learn to walk before you run. just worry about how much you can lose out of pocket in the begining, in the end everything works out, if not the experience costs you 5k or whatever you put down, if you lose 10-20k you are the true mook trader.
More...

SO TRUE!!!!!!!

cornholetrading · Sep 11, 2002

Originally posted by ronb107
My apologies for not mentioning that the firm is Lynx Capital in NY.

They teach tape reading. I suppose this could rightly be called a scalping approach, since most of my trades average 10-30 cents (while more proficient traders may typically get 50+ cents).

What I like most with this approach is the high reward to risk ratio (10 to 1 or better). With stops in place, I usually lose 1 cent (occasionally I might lose more, but I'm careful that there is size at the Bid or Offer before entering the trade).

--Ron
More...

How many trades a day do you get this kind of set up in and how many stocks are you watching and trading at the same time? Are you focusing on the same 5 stocks everyday or do you have marketminders setup up with numerous stocks? I used to be able scalp Nasdaq stocks with this risk to reward. However I could do it in high volume nasdaq stocks all day long trading the same 2 stocks or so most of the day. That has since changed though. I am trading NYSE stocks now but not like you have described.

axehawk · Sep 12, 2002

Originally posted by ronb107
My apologies for not mentioning that the firm is Lynx Capital in NY.

They teach tape reading. I suppose this could rightly be called a scalping approach, since most of my trades average 10-30 cents (while more proficient traders may typically get 50+ cents).

What I like most with this approach is the high reward to risk ratio (10 to 1 or better). With stops in place, I usually lose 1 cent (occasionally I might lose more, but I'm careful that there is size at the Bid or Offer before entering the trade).

--Ron
More...

Do you just try to step in front a large bid and "lean" against it?

calibertrader · Sep 12, 2002

The 1.2 cents you got is not a bad deal for a new trader in a firm that's gonna offer you hands on training. You should pay somewhere in the neighborhood of 4 to 5 cents for bullets. It's better to pay the higher commissions and get training, rather then sit around and get none, or pay up front for training that is out of a book that you could've bought for 20 bucks. Lynx does have a great training, I know, I used to work there. Worldco on the other hand, which I did work for, isn't really worth, even though there are trainers there that are really good. But it's a luck of the draw if you'll get one of them.

Once you start doing more volume, all these firms will start to lower your commission rates anyway pretty quickly. I can give me more info, if you want to PM me.

J-Law · Sep 12, 2002

You will need to find out how much they will charge you per share on bullets.

Bullets, if you don't know, enable you to sidestep the shortsale rule and just hit a bid when a stock drops. It's a put option with a 1 day expiry. When a stock is pluging there is never an uptick to enable you to get natural and if there a uptick, is every Tom , Dick (alot of those in this biz) & harry is chasing it.

If your paying more than 4c a share(on a 500 share bullet, that $20) you getting ripped. Most places charge $15-17 a 500s bullet.
Shot for that.

There are thieves out there charging a nickel a share. NOT
GOOD !!!!!!!!!!

ALSO MAKE SURE THERE AREN"T ANY OTHER HIDDEN FEES.

ALSO $500 for a s7...RIPP OFF. Should cost you nothing.

Dustin · Sep 23, 2002

Is there a Worldco office in Los Angeles? Asking for a friend...

ronaldo · Oct 2, 2002

dont take it - the offer sucks and then when you lose all of your capital they'll cut your dot limit till where you cant make a living