D***** made 50 mil in his best year (About 35 take home before taxes) , nobody in Schonfeld did 75 mil.
I'm a level 2 junkie and I'll bet my net P&L is better than that of most of the "true" traders at Schoni. My buying power is $500K. I've been net positive in 16 of the past 18 months, with my lowest net month being $1,200 and the highest, $11,000. "True" traders can make money in any market, not three months out of the year. That is pure unadulterated bull.
Mark my words...Schoni is not dead. He is reorganizing his business around profitable traders. 3 years from now he will still be in business while most of the firms on this board will not. Gross trading means little if you can't overcome whatever your commissions are. Traders were profitable in the 70's and 80's when commissions were much higher. BTW, I think Schoni's business model is seriously flawed. I bet on the man, not his traders. Trading is a noble profession. Those in it simply for the money who believe that the markets owe them a living or some firm should let them risk the firm's money without putting up a dime are not seeking an entrepreneurial lifestyle, they are looking for a quick rich job. Go home boys, let the real traders trade. No firm, Bright, ECHO, Schoni, Lieber et al will survive on commisions. They need to have profitable traders.
metoxx you have zero clue what you're saying about schonfeld. That firm produced more money makers than all of the day trading firms combined. no question about it
the system typically used there worked for a long time. unfortunately like all systems it began to fail. in terms of firms using arbitrage techniques and succeeding in a market with zero deals... i'd love to see that hocus pocus. this market is filled with gap after gap overnight, intraday. these gaps make it impossible to trade unless you happen to be miss cleo.
miss cleo is a psychic with a 900 # she had an infomercial. she talked in a jamaican accent and just recently got busted for fraud.