Discussion in 'Prop Firms' started by OVERtheLINE, May 28, 2003.
asta la vista baby
looks like there will be Assent/ECHO left
i thought Bright was still out there???
Yes, we are still in LaJolla, and plan on staying there.
As a side note, our business model is always changing (to keep up and reflect the times), and we may "incorporate" some of our offices in the future. Many traders are going remote, and many more are moving into the "mega" offices to be around more of the "successful minority" of traders.
As in any business, focus must remain on quality of service, flexibility, and the continuing success of the venture (or else everyone loses).
I have been "preaching" about the consolidation of the trading business for years now, and we are all seeing it happen all around us. The "strong will survive"....
Thanks for noticing the error, Chet!!
Its not the comission model thats causing these offices to change its that they arent changing with the time... Futures To the Future
Whoever said Worldco was the SARS of trading firms, that is still funny.
There is nothing wrong with a trading firm closing an office. If the traders aren't making money and the office can't support its overhead, why keep it open? It has nothing to do with the margins, as they got thinner, management should have adjusted. Unforrtunetly, it is a fact that if traders aren't making money trading, they will trade less and less. A firm, even acting in its best interests, should help the trader learn to make money or not lose it. A firm that sits idly by collecting commissions regardless of the margins will soon find there are no traders from which to collect. A firm that suports its traders and tries to educate them and provide assistance will at least have a shot.
As Don implied in an earlier post in this thread, he too will shut an office that doesn't make sense. And, it seems like that will be sooner rather than later. It seems clearer that consolidation of overhead (larger offices) makes sense for the trader and the firm. The trader has more fellow traders to share ideas with and the firm spreads out fixed costs over more traders. Or remote which eliminates much of the fixed cost for the firm.
ah yes...the classic mook profile propagates...
damn...did you know your real name has been circulating at worldco? according to a trader who works there, you're known as the mook who lied about his P/L and got publically humiliated by his ex-manager! even people in marketing and management supposedly know you by name! nice rep you got there! i'm surprised any other firm would hire you!
it sucks to be a mook doesn't it? such bitterness! boo hoo! :'(
thanks for the update. see my other posting, I love these pikers.
Separate names with a comma.