I changed my opinion after seeing how Worldco treated some of it's traders. Not returning captial, having shitty technology and reneging on promises made. Removing Belzberg will be the last straw. What are they gonna do put everyone on ISI Dot??? LOL... or maybe the Worldco Trading platform which has more bugs then the old Soviet embassy in the Bronx. Days of 40g's r gone, my bud is only making 20 and that's on his BEST day. Worldco is a commission shop. I like Walter, but the business model and the management need to change, those idiots r keeping guys who have made money in the past but are burning it away in the current year and past few months. Instead of talking with a trader who sits next to me, they placed a resignation letter on his desk all printed up with HIS name, all he had to do was sign. Kinda felt sorry for the chap. Anyways, in my opinion they will probably just keep axing people until they hit zero. BMW
Maybe you're right...maybe not...but you're right about their Worldco Execution System!!!!! But that 20g stuff is b.s. Unless you're in FL, that isn't happening anymore. All you have to do is look at top 20 list. For crying out loud, it has only taken betwen $500 and $1 g to be in top 20 some days. Some days no. 1 or 2 was only around $3g.
The Worldco Top Gross/Net is sometimes off. But yes I_missed you are right about how far it has fallen!!!! If you want to make the top 20 list, (used to be Top 30) all you have to do is make like $400 - $1000 dollars. That is the most anyone is making! It's sad but true, the average McDonald's employee makes more than the average Worldco employee, but that's Wall St. ILX and AT belong in the 1980s. Worldco has re-serected those bitches. No one at the firm has long distance any more and they are taking back monitors, people are fighting for monitors. Meanwhile a few hundred sit in the basement unused. LOL. Oh well, it's an adventure and it's coming to an end. Maybe I can get a job at some hedge fund with an actual salary..... BMW
If you go to Monster.com you can see an ad for Worldco. They have the nerve to recruit people as they fire decent traders. That's nerve right there.
I saw that ad on Monster which is what caused my interest in them in the first place. it makes checking out this message board worthwhile right there to avoid getting sucked into a losing situation.
I don't think that anyone is fired. You are just asked to deposit funds if you are negative. I don't think it is unreasonable for the firm to ask loser traders to either pony up, or leave. You can't really expect a firm to keep supporting a loser trader forever. I don't think this is any different than any other field of business. Example if you are a real estate agent and you never close a deal, you ain't going to keep your job for long. Or a banker and never close on a loan, ect. ect.