Anyone know anything about ETG?

I am looking at various prop firms and have read about many in the threads, one not mentioned often is ETG. Is there a reason why? What is the trading communities oppinions of ETG.. the 3 year contract, the no salary, and how they treat their traders.
Is the contract and no salary a norm? Anyone that can answer any of these questions or just give general comments it would be greatly apreciated. thanks.
ChaosNSX

 

ETG is a good place for novice traders.
Click on search botton on the top right side of the ET front page and do some search on ETG, you'll find a lot of info.

 

Thank you I'll do that..

 

hi

as far as ETG goes, that is where i started my trading career straight out of college. it is a decent place to start but it is also a firm in transition and a state of flux.

 

ETG is a good company to learn at (was a former ETG trader).
I believe I have read they are instituting more trader-friendly
programs (such as abolition of the contract, an increased
trader-payout ratio tied to profitability and reduced commissions
with their conversion to Instinet. Would recommend the firm
to a new trader without capital or a trader looking for a firm
to take a percentage of risk.

 

I once had an interview with him for a job at one of his firms

but did not make the final cut.

 

Had several interviews with them and even spent a day at their tradig desk in midtown. I did not come away with a great feeling. It seems as if they train you for a few months and then just let you go on your own with no real help thereafter. Granted, one must learn how to trade and that can only be done on your own, but I feel there are better firms out there. Plus, you must realize that you are going to sign a three year contract.

In addition, if you leave prior to three years, you owe them a significant mount of money to compensate them for their "training time."

I would look elsewhere.

 

I just heard from someone SLK had an equity stake in ETG.
Since SLK was bought by GSCO and is being assimilated, does that mean that GSCO now has an equity stake in ETG?

Does anyone know anything about this?


ChaosNSX

 

JL,

Where did you end up going? How did it work out for you?


ChaosNSX

 

3 year contract with no salary? You can do better.