OK, my brother and I reviewed this proposal and have decided that we can now "officially" offer it for a beta test in 2004. This came about after receiving several inquiries about the many different plans that we offer here in our headquarters (Las Vegas). After reviewing the many plans offered by othe firms, Bob and I came up with something that offers training, mentoring, boot camp, low cost entry, fair profit split, and...most important: EARLY FREEDOM AND INDEPENDENCE! (OK, not perfect, but better than any we've seen). $5,000 initial deposit which includes training, bootcamp, and mentoring here in our headquarters ...and your Exchange Fees (You will have to pay your S7 fees when they apply). Standard penny a share until your account reaches $10K, then standard (lower) fees apply. 50/50 split until account reaches $15K, at which time you have full "freedom" and are eligible for a 100% payout and the sliding scale of lower fees, including the .4 of a Cent for shares in excess of 1,000 per trade (most boot campers execute 2,000 shares by the end of training, at minimum). Before dissecting this looking for a "catch" ...Yes, we will deduct fees of about $2,000, leaving you with about $3,000 as a "starting point" to build your account up from. Any balances due can be paid after your account is above $15K or so. So many firms have dragged in the unwary with much worse offers, long term committments, and even one firm charged a $5,000 "training fee" that was "loaned" and then held over the head of a trader even after the "traner" left the firm (so that the trader could not leave....that's the way I heard it anyway)... But, rather than compare our plan to other firm's, just think of it as a "BETA TEST" for a group of serious traders to get close to some serious mentors (Bob, myself, and a few of our better, more successful people trade here in L.V.).... ....and after what is hopefully a short and valuable experience, you can trade from anywhere you like....and Vegas is a very affordable place to live with many part time job options for those of you who may desire to augment your income while learning. PM's and emails please, let's not chatter too much on the board with this. I will keep this posted up for January... Don don@stocktrading.com
I normally don't respond to threads like this one but in this case I have to make an exception. I'm sure this post will be deleted by some moderator because Bright pays money to put adverts on this site. And I'm all for Baron making $ from that. This has to be the craziest, dumbest deal I have ever heard of in my lifetime. What are you guys smoking over there in Las Vegas? Pass it over 'cause it sounds like some good sh*t.
Well it all depends on the actual mentoring. Do you get to watch Bob/Don/Eddie trade on a regular basis? Otherwise there are much better deals for a $5k deposit.
I knew there would be bashing by a few...and yet I actually compared the deal with several who came to me with such bad deals that this is so much better....basically, they put up $3,000 after a small training fee (balance is registration, etc.)...and in no time they can be fully on their own. The "50 50 deals"out there where the profits accumulate forever are just plain bad for the trader. So, if you look past the b.s. and to the reality of not having to pay a zillion $$ for ongoing mentoring, this is better than other's...perhaps someone would show me a better deal where you can literally be 100% on your own in no time? And if you want to start with 100% and low costs, simply put up a few more bucks... Like I said, just responding to requests....nothing more, nothing less. Peace! Don
Not much better than a CyberTrader retail deal. 1000 shares @ 1 cent = $10 exactly the cost of a CyberTrader trade of up to 5000 shares! Go retail and keep 100% from day one and don't need licences. I agree one can't scalp for pennies on CyberTrader, then again when you are paying $10 for 1000 shares or $20 for 2000 you can't scalp for pennies anyway.
Actions speak louder than words -- you're deducting 40% of the starting balance to cover training expenses, reg. fees, end of discussion. This is a terribly egregious deal. What's it cost nowadays to get your S7? Great biz model if you can sleep at night and find enough suckers to pay you 40% of their initial stake. arb.
i would never do this but think it could be a good deal for the right person. that person would be the person with no money(5k is peanuts in trading business) and no to little experience. contrast that with the guy who wants to learn and does a 3-4k trading seminar. at least this way you get the benefit of experienced people holding your hand. if you don't make it it is cheap education. if you do make it you go with the 100% deal or go on your own. cant see any downside for that beginner with no other way to get started.
Just to give an example here's approximately what you can get at the place I trade remote from: $5k deposit .65cps before volume rebates 100% payout onsite training (OPG, filters etc) No bashing, just facts. This deal or better is not hard to find these days. Good luck Don.
The fact that Don wants to charge big bucks for his seminar while collecting 50% of the traders profits plus the brokerage fees strongly suggests by his actions that only a miniscule number of traders will succeed. If this is the case, then why would anyone in their right mind sign up for a seminar costing thousands of dollars when they can read 300 books on the subject for the price of the postage from tradersbrain.com