thats the firm i'm looking at. does anyone know anythin about these guys. I'm sure those guys are on this board so i won't name names directly (nor do i want to mess up my potential deal). R they legit?
Actually ETG told me (because I took all my money out) that if I want to come back and work for them (Schonfeld now) that I need to put in 30k recommended (25k minimum) and cannot touch it for one year. They are out of their minds. Plus like the other guy said they sold the firm. What does that tell you anyway.... if someone like Blethyn took over as CEO, and he was the worst trader who didn't last, but he had Harvard on resume so they put him behind the desk...and now he's the CEO? Heh. You can figure out the rest.
What does being a good trader have to do with successfully running a business? Some of the best teachers cannot do what they teach at the level their students can.
ETGs moto used to be by traders for traders....something like that. How can you run a successful trading company if you don't know how to trade? If you don't know what trading is all about how can you set up a good environment? I guess you can't, that's why I left. Would you rather work for a company that was established by traders or ones established like Swift trade? I rest my case.
Yep Schonfeld guys told me 30K cap contribution, and can't touch it for a year. yadda yadda, I know schonfeld is a pretty good firm and if you trade true prop with them they give tons of BP but only 65% payout. I can't trade true prop with them as I do not live near one of their offices, I am in Colorado. Carlin, while I understand is moderately respectable, they want a year hold as well. Plus they are just another boiler room firm. Genesis I hear many good things about them, I have not inquired with them if they have a hold on capital as well. It stinks that there are not any true props around anymore. I am skeptical on the deals that other LLC's offer no hold on money and 20:1 or 30:1 BP. I guess I'll figure it out soon. I am thinking the way to go is retail, with a firm that gives the best commish. Cheers.
Of all the firms I have dealt with in the past, ETG was the best by far. Blethyn and their entire management were great guys and were easy to deal with. It's a shame they were sold, I really felt that they could have given some of the other firms a pretty good run for their money. As for your points, you don't need to be a good trader to be good at running the business you just need a good mentor. As for creating the proper environment, all that takes is the input of a few of the veterans in the office, and a monthly meeting where you ask for input from all the traders in the office. Good luck to the ETG guys! Mike
If you rest your case based on that evidence you will lose the case. I agree that being a trader is a requirement for running a trading business. Being a GOOD trader is not. In fact, being a bad trader may even help. It certainly makes you appreciate the trials antribulations that a trader endures on the road to success. It would make him more sympathetic to a new trader. More likely to support him rather than look at him as simply a number. By the way, there is not a person more dedicated to doing his job right rather than looking out for his own interests than Blethyn.
I do not think it is fair to blame Blythen for ETG being sold. Bleythen was really there to just wrap things up the past few months. Jeff Mester as great of a guy as he is, really stopped paying attention to ETG. From what I hear the group in Atlanta that Sloan is a part of forced Jeff out, which ultimaetly led to Jeff selling the firm. Anyone know where Bob Kanter is, I sure wish he would start up a new firm. Last I heard he was trading his own account for thinkorswim.com. Cheers
Pipp maybe you're right. But they could've done things a lot differently, and now selling the company?? spyglass, Bob was the most charismatic person I met in trading world. And I could talk to him one on one with no problem, he loves talking about markets and different things (if you've been to his quartet concert you know what I'm talking about.) Sloan on the other hand is a complete c***s*****. I worked with him for a while, and let me tell you guy has no people skills whatsoever. As morality goes, I remember when we were watching planes hit buildings 9/11 he was in his office throwing a fit trying to find any bids to hit on instinet. I thought that was rather desperate for a guy who lives in a million dollar house but works 12+ hours a day. He was always on my case about trading, trade trade trade - no matter what kind of market we were in. That really used to piss me off. He just wanted us to churn some comission so he can say Atlanta office was the best. That's the whole thing, he makes it sound like we were special, doing something no other form did, while it was clear this was a boiler room thinking behind it. Jeff is also a nice guy, but he is no Bob. I would work for Bob anyday, but I think overall he is done with markets (I mean, its been 30+ years) - he did good for himself. r.i.p. etg, u had a good run, gave me money to trade, and took 25% of my winnings, but never say you trained me. Because you didn't.
In my opinion (I was initially "hired" by Jeff Mester 11 years ago), Jeff along with Bob Kanter were the driving forces behind ETG. I'm sure Jeff will make it thru the REFCO situation and re-invent himself.