what a great quote most traders fly by the seat of their pants & when they have a financial meltdown they wonder why either one is a professional trader or a gambler in reality most are gamblers that call themselves traders
wts is crap do a search on here. they hide all the fees till you send them money then attached whole bunch of fees to your account. or change payout levels from what was agreed.
at least my firm, which a wts sub, charges only a software fee and a % of my PL, both are very competitive
I'm with WTS. never had a problem with fees or anything like that that wasn't fixed immediately. Always get paid out on time. their risk management is kinda MIA. it's BYORM (Bring your own risk management) with WTS.
It seems more difficult than going directional and hedging with options, as with "many pairs" you'd have to not only game the appropriate size but also hold it for the correct amount of time in order to capture the delta. I'm sure it works for some, it's just not my style, but probably worth learning the strategy at some point. Good to know.
Don, 2 questions 1. If someone had a series 7pm in the past but expired as the 2 year timeline, does he need to retake the s7? 2. I remembered you mentioned clearing through Merrill lynch so you get traders 100% have you ever considered going back to the 100% pay out model again?
Good.... as you're aware, strategies and how effective they are tend to rise and fall due to many factors. The hard part is knowing how and when to modify, adjust, and just plain try something different (after you have most of the basics down pat, like entry points, exit points, routing (reaaly big currently), etc. intraday). All the best, Don
Anyone that thinks the 100% payouts by JBO firms will continue is going to have a bad surprise. CBOE, FINRA, Phlx...are all saying high payouts on sub-accounts are a red flag. The accounts look like customer accounts not firm accounts and might be treated that way in the future. That means 4:1 during the day and 2:1 at night. Enjoy it while it lasts.
Yes, I agree. The 100% payout structures are over. All the gimmicks out there are coming under scrutiny. There are many firms trying to get around the 100% payout and I think they are going to be in for a surprise very soon. The JBO model is under attack by the regulators. Class B members CANNOT be construed as retail customers.