Whenever some firm offers you an opportunity to trade their capital without you bringing any money, you should take it! Yeah the commissions might be high....but hey if you make good calls then that shouldnt matter since your profits will pay for them. dirt cheap commissions are not going to save you in trading if you suck as a trader.
What was the name of the firm that does not require capital nor does it have you foote the losses. Regards,
Im sure it was the main office on 110 Wall that he interviewed at. Only Walter himself can change deals, per se....so he was probably on 18th floor of 110 Wall. By the way...everyone may say that you are responisble for your losses if you leave the firm...but what do you think they will do? Sue you for 10G? Not worth their time. Besides, you will be a k-1 partner in that LLC...which probably means you aree only liable for the amount of money you brought into the partnership. So if you blow your 5K and then blow another 100G and leave, they have no recourse. Hopefully, their risk dept wont allow that to happen....and they won't.
welcome to the crooked world of trading... He who can swim with the sharks has a chance of becoming a profitable trader.
From Hitman's journals, I gather that they start traders out on nyse and if they do well, eventually the trader will be allowed to trade nasdaq. But they are not nasdaq scalpers, by any means.
There's a whole generation out there raised on trading Nasdaq -- whats the advantage to trading a mid cap NYSE over a liquid but volatile NDX 100 name?
"Go to hitmantb.tripod.com Talk to this guy. He's a head trader at Worldco. He'll beat that deal hands down!" Yeah, great idea...then you can go learn from a "head trader" who is nothing but a piker. I had to stop reading his so called "trading journals" which were mostly whining about being whipped on some chick, but I did check his trading blotter. If this guy is the head of a group then Worldco has more problems than I imagined.
nasdaq scalping has really died for the most part. The drastic decline in the market (after the drastic run up) made it harder, but decimalization was really the death blow, from what I have seen. The decline in nasdaq scalping is also evidenced by comparing Broadway to Worldco or Bright. 3 years ago, Broadway was a big dog, Serge was on the cover of Forbes, etc. But now Broadway is a shadow of its former self, while Worldco and Bright are doing well by comparison.