100 and 110 wall haha are you an ex worldco trader ? care to share any stories? did worlco ever have any remote traders?
LOL...yup, I did trade at Worldco (pre-demise) but not in Manhatten.....I guess all the offices had the same type of characters.
Yes, did trade at wldc. Stories? There are plenty. I mostly kept to myself during trading, but the typicals apply: monitors, keyboards, phones, food. If you have more specific questions I'd be glad to answer. Worldco did have remote traders. Mostly, as far as I know, these were traders that traded in the office and then moved away or just decided to go remote for whatever reasons; i.e. lazy, didn't like office, commute... Memories... "MAKE THAT F$%@%$ MONEY", "YOUR FRIENDS? THEY DON'T CARE ABOUT YOU! THEY'RE NOT YOUR FRIENDS" "OK, YOU WANT TO TRADE HERE? YOU'RE A NEWBIE? OK, YOU'LL BE A MILLIONAIRE BY NEXT YEAR". Who was that??? LOL
When I was at my interview at Wolrdco at 110 and was waiting to get some paperwork, I remember this one guy who had cursed and slammed down on the table at least once every 30 seconds. Every 30 secs it was "Fuck, Shit" SLAM, "Bullshit, Fuck" SLAM, "Motherfucker" Slam, "Goddamn, Fuck" SLAM. Literally the whole time I was sitting there for like 30 min, it was like a nonstop song. And it's understandable if it was somewhat kept to himself but nooooo it was LOUD.
PROP is dead........period. The word PROP is misused so much on this site is retarded. The original prop model was that of Schonfeld Securities...Schonfeld has changed their model now as many shops have. However, if you really want to trade remote for the one and only PROP shop i know that is following the original Prop Model, by giving 100% capital with 50% pay out and 100% tech support, ck out www.lastatlantis.com. These guys are the real deal... However, they might already have closed their group. And these guys are not cowboys swing at anything that moves. They trade options and do very well intraday, far better than any equities traders "daytrading" that i know of. ck them out...but like i said, you may have to wait in line......or they may have closed their group to new traders for a while.
True.............but for some newbies out there that don't have the capital to go Remote and winding up getting caught up in the PTD rule...............than Prop maybe there only option.........for now
I agree, there is a need for those traders who want to get around the pdt rule, so my belief is that prop firms will exist for a while. Nowadays, Prop firms are usally those that require capital. Not long a few years ago when Prop meant no capital. Today's prop firm is just a hybrid and I think its a good compromise both for the firm and the trader. any thoughts?