Well greentree has a Joint Back Office with Sage. But I don't have a JBO, they do, thats the difference. No, it's perfectly legal and it makes sense. I do not trade client money either and I assure you I am very well capitalized. It is 100% my money. What they are offering me is a risk based haircut. I don't have to comply with reg t regulations because I am trading out of an LLC with a JBO. I am trading size because I have the capital to trade size. There is no initial contribution, I think you are thinking about the old prop model where guys come in with 5k or 10k and trade with massive leverage. I trade 100% of my money. I am responsible for 100% of my losses. I get a haircut every evening that tells me the minimum amount of capital I need to hold my positions based on the RISK that these positions have. It's that simple. No profit sharing, no extended leverage. And like I said before, this is the only firm in this country doing this. So I reiterate that they do have a unique niche in this market. BTW, I have been trading options for 6 years. Do you understand now? Before you attack another firm make sure you completely understand what the shot is before you take it. To be honest with you, I don't know why more firms are not offering haircuts to traders. But they are not.
I never said I only put in 10k. I said to set up a JBO it would cost 10k to 25k in legal fees. However, I did not have to do that since I did not have to set up a JBO for myself personally. Dude, all my positions are overnight, I don't daytrade. I hold size overnight because I have the capital to hold size. You have to make your haircut. If your haircut is large then you need to have the cash in your account to cover the haircut. The haircut requires you to cover a minimum of 15% to both the upside and downside. Also there is a minimum haircut requirement of $25 per contract.
Lets try something productive and use some vision to find the next great market to trade and pull some money from the markets. Eurex is getting harder to trade and Mac Futures has cleaned up pretty good over seas. Any good ideas for the next market that will improve the trade? TT has a good Auto Spreader on their Pro license and 5/10 and 10/30 are offering some good opportunities. The past day trade boom has gone, Some good finger jockeys have cleaned up. Congratulation to all those that have made and KEPT their profits. Strategical analysis on the micro , intermediate, and macro market is what I feel is the formula to consistence profits. It not about stocks, but option, futures commodities and currency that will lead the finger jockeys to the 'Promised Land' Trade well. Long Live RW. It all in the volume.
No, Rob Tharp has never worked for GreenTree. If I'm not mistaken, Robert Tharp was based out of a firm in San Diego, not San Francisco.
well joey, thats what i tried to do with this thread from the private messages I have gottten (which out of curtosy i will not cut and paste) it seems like GTT is ok except for the Jeff character who at least 2 people have said he either ripped them off or was less than cool about paying them their money, either way, from your journal its clear your a piker/ cheerleader for GTT so do us all a favor and STFU
I have posted maybe twice before on this board over the last couple of years even though i have been a user. I have been a professional trader for 16 years now, having started with MKI in New York and having run the gamut of prop firms and hedge funds subsequently in both New York and the last 7 years in Florida. About 7 months ago I got wind of Greentree and if I remember correctly, it was via this board. I spoke to Jeff G., who was and is the managing partner, and his philosophy and mine were totally in sync. In the intervening time, I have collaborated with a former very successful Schoney trader, and with a fund of funds manager, and we have partnered with Greentree and opened a Florida office in Boca Raton. I have found JGus and (GREENTREE AND VTRADER) to be honorable and flexible and a pleasure to work with. Other professionals that I have spoken to in the Boca area who have dealt with VTRADER and Herb in the past have said the same thing about them. Moreover, the platforms of options and futures along with equities are just real user friendly and enhance my ability to employ my strategy. I don't understand where a guy makes a comment try to get a check out of them, as it is totally unjustified and is the kind of comment one makes who is just trying to knock somebody without any background. Many big traders, bigger than myself, have made the jump to Greentree in the last few months, and I know why. Without trying to shill here, I know it will sound like I'm shilling, but when you find guys that know what they are doing, are looking to grow with you, are flexible, have proper risk management in place and most of all, keep their word and are honorable, smart traders will gravitate towards them. And thats what is happening with Greentree.
lets talk about drug use, thuggary , overrides and other slimy antics as well as threats of lawsuit that others are real interested in sharing about GTT,, shall we? the word around the campfire is BAD NEWS as far as I can tell
Call me direct with any issues you have or comments you like to make. We can deal with it like adults and get off your two sentence slanders. I will make public any truths but will not sit back and play your games. Call me direct.