A very telling story.....year to year, the listed markets are up 30%, NASDAQ 50% and most prop firms struggling to stay afloat. While not entirely impossible, day trading, in "normal" markets is very very difficult.
What do you think average capital per trader is stuck in the Worldco "Evil Empire"? $3000, $10000, or more?
I have 15G in the firm. Some have much more, some much less. All execution systems have been turned off as of 8am this morning. A "mandatory" meeting is in progress.
Actually, daytrading in very "light" markets is very difficult, although not impossible, for traders. I still know traders pulling in over 6 six figures so far this year from daytrading. Prop firms get hit when traders are doing 30% of their normal volume from same time last year, like what is happening now. Btw, i hear wldc is done and last payout checks on friday.
LOL. Isn't Schonfeld on the verge of going under themselves? What do we have the blind leading the blind here?
Schonefeld is nowhere near going under. And they came to a deal with Worldco and its traders on enticing Worldco traders, but they are not buying any part of Worldco.