I don't know about "all the guys", only what we do. Apparently all those guys at Schoni could not cut it or we would not be having this conversation.
You have to understand schoni, sure some guys blew out..however, the money schoni had, IE all the investments that he did for the firm, hedgefunds, bonds, etc to secure the captial when it was not being traded or to try and increase the line was hit. So, the traders are the fall guys.......bro, do you know much or are you some datek junky?
What I think is the business model of getting a bunch of young novice traders to churn size is dead. That is not the only part of the business.
I agree, to get a bunch of yahoos togethor to churn, that is not a good business model. Obvisouly you know nothing about Schoni, we were not scalpers, we took positions over night, held the winners for a few days, traded for points and trade entire sectors,. We were not some leveII junkies banging on 1/8ths as csco moves up/down.....a times i had long and shorts with about 40 stocks, whole sectors......and a times i only had a few stocks, depending on what the market was telling me.
No I do not know a lot about your firm; but I have learned from you that is probably a good thing ... I would love to continue this discussion but I have dinner reservations and I am still at the office. Maybe we can continue tomorrow or if you would like I will send you my phone number.
remeber we are talking with in the relm of the last two years. during 99/00 we had guys making 75 million 25million, 7million, etc But those numbers are not true as of today, Most of us cut back on capital, the bigger traders really dont trade much now. I still didnt get the name of you firm, or location.
Private; Chicago suburbs; 10; options, futures and equities; primarily arbitrage, before you ask. Gotta go home, finish later.