OK, just pasting this, this wasn't me, it was one of you beautiful lovely people, keep the comments coming, good bad or indifferent.
Love me, hate me, want to hook me up, whatever it is, babies, send 'em in!
Thanks for the comment. And, listen, we are getting literally so SO many great testimonials that its insane. In this market, I am so grateful we are helping so many people persue their dreams, or save them! God Bless all. And, thank you all for offering to come to NJ this Saturday to do testimonials, those that have! It's not too late, but it's getting there! We have roughly 20 people coming, if you are still interesting, I suggest you send me an email IMMEDIATELY!
Got a story to tell about us thats good? Made some cashola off a call or two or three? Or, just think I'm the sexiest man alive? WHatever it is, send it in!
Waxie, continue to keep it real. Unlike the banking desks, real traders have to live by a separate set of rules.
Exchange (real) traders:
1) Must post margin
2) Have trades marked to market daily
3) Have their funds in segregated, escrow accounts separate from firm funds (e.g. for futures, options, IRAs)
4) Have trades cash settled w/in 2-3 business days
5) Follow t/a
6) Practice money management
7) Are regulated by the SEC and CFTC
1) Do not post margin (can you imagine selling naked SKF calls and never getting assigned? see #4)
2) Have trades marked quarterly
3) Mix client and firm funds together so they can pay themselves bonuses out of client money
4) Delay settlement for as long as possible until the taxpayer is forced to guarantee their losses
5) Do not follow T/A
6) Completely lack money management skills (e.g. LEH, BSC, AIG, C, etc.)
7) Are unregulated
Conclusion: ABS traders are not real traders. They are little boys and girls who party hard on other people's money. In fact, some people have even gone so far as to call them thieves....