Discussion in 'Prop Firms' started by blackbook, Sep 7, 2008.

  1. i received an email the other day, curious what others here think:

    'The trade room is here to let people learn to trade currencies & trade in an environment with others. Too many people day trade from home, in isolation, and have no one to share ideas with or learn from. Trading in an environment such as this can be more successful because you have other people trading with you, who may help you avoid a bad trade or help identify good opportunities. The more people you have to discuss the market and current conditions with, the more knowledgeable you will become on the topic.

    >capital contribution

    This is up to you. Most traders will open accounts with a broker for between $5,000 and $50,000. We do not act as the broker. We have relationships with brokers that we can introduce you to.

    >commission fees

    All brokers make a commission, whether you see it or not. It is either built into the spread or shown as a separate commission. That is determined by the broker and the size of the account you open.

    >desk charge

    Traders in our room use a program designed specifically for Forex trading. Please see <> for details.

    Many buy the software outright although there is an option to "rent it" as part of the desk charge. Our revenue model is from running the office itself. Depending upon whether you buy or rent the software, you're looking at around $700-$1000/mo to be in business, plus a datafeed from the software company of approximately $200/mo (this is not from us but from the provider).

    Again, please review the video and get back to me with any questions.

    We hold an initial meeting during the morning trading session. During that meeting we explain how the room is run, how the software is used and you actually watch us trade it, live, in real cash accounts. I'm not a fan of videos that show "wow, this trade made 30%". I'm a real fan of putting our money where our mouth is and letting people watch us trade live.

    Not every trade is profitable. If you make money 60-75% of the time and have good money management skills, that's what it takes. Every honest trader enters a position: (1) knowing there is no sure thing, and (2) that he/she is entering the trade because they believe that it is more likely to go the "right" direction. That said, we also expected and do see losses. Success is based on overall activity, not a single trade.'

    is anyone here familiar???