most people have jobs, you know they get a paycheck then pay their bills,then work rinse repeat..those that want to get out of that rat race and begin trading, save,study,save more,study more..i'm sure you've heard of it,,some get desperate and pay online mentors and get rich quick answers,some even sign up for combines that promise teaching and 50k to trade with,but the teaching is rhetoric and the chance is there if you can cross niagra on a tightrope,some of these firms even hire shills to expound ad nauseam ,claiming it's the greatest thing since sliced bread,as often happens, the shills being what they are,try to keep the naysayers away with insults,lies,inuendo's and if that doesn't work they outright ask them to leave..this comment in no way reflects on the posters or subject of this thread..just explaining how people pay rent
That's what I thought. You have no tangible advice for those who want to do this for a "living". Thank you for finally admitting it. I give you credit. Maybe you should start your own thread espousing advice for those want to want to work in IT support and trade on the side as a hobby. It sounds like you have some solid ideas for those folks. Good luck with that. And I sincerely mean that.
Bagger, patience is one of my strengths. The irony with all the trolls on this thread is through sheer randomness, you get some gems.
Well, it depends on the prop firm. If a prop firm is full of only discretionary traders, then yes, the 5% number holds well. There are many firms that engage in HFT and arbitrage and market making where obviously the success rate is much higher. Those would be the salaried firms of course.
thanks i like the business plan, pay to sim.com,kind of an oxymoron, but there's a fool born every minute..laughing all the way to the bank
Topstep/Patak is a legit and pretty cool firm. I did my due diligence and researched the company. Patak is clean on the NFA website, and I did not find any other negative comments about the company or Mr. Patak himself. I actually traded a combine with them. Didn't meet the criteria since I am a wild trader. So what. In my opinion, it was worth a try to see what it was like. I have been learning patience and discipline because that is what I NEED, someone to hold me accountable. I have been sim trading crude (that is the only thing that I find worth trading anymore) with my own free sim account with another firm trying to abide by Topstep's criteria. If and when I do consistently, then I will try them again.