That could be the case, but Blethyn did not give me that option at all on the phone. He said 25k min., 30 recomm. lock up 1 year. Take it or leave it.
I heard Jeff got hit pretty hard with refco. He had a bit of money invested. No doubt Jeff will bounce back. Always enjoyed his company.
don't both these firms have a "retail" side too ? any advantage of one over the other trading this way ?
They have it, but I still talk to a guy that works there throwing 1M shares per month. They still charge him 0.0015, I told him he is nuts to be there. If you are a customer, you end up paying more then above rate. Chop chop baby. These f**** charged me that rate, weirdo ecn fees, redi+ montly fees and remote trading fees(????). Let's just say in 2001 they had a bad year as far as trader's profitability goes, but a record year in COMMISSION profits. "Trade, trade, trade..... don't sit there". Yes, I am a little upset considering I stuck with them for 6 loyal years.
RE Jeff will make it thru the REFCO situation and re-invent himself. What was Jeffs involvement with REFCO?
I agree with ya 10000 percent. Most of the guys who were my "managers' in the past were failed traders. The last thing in the world I want to deal with when on a trading desk is some guy who couldnt cut it telling me what to do. The problem is they are big time jealous of the guys trading. This jealousness clouds their judgement from making the right decisions for the firm. Most prop shops/firms would be better off bringing in people with mgmt experience, instead of feeling sorry for these wannabees and giving them a job. The only bosses I had who ran a very good trading desk were the ones who traded and were on the battlefield each day.
i've spent a fair amount of time in other trading businesses but am new to futures. i'm puzzled at some of the incidental information that is flying around. my questions is: if you guys are making money in 90% + months, then how is parking $30K any sort of issue? why wouldn't you get real backing and trade big size, i.e. start running $M++ ? are you capacity contrained? i would think liquidity is pretty good in most markets ... thanks in advance for replies