You guys do understand that this "offshore" method around PDT is just a scam and they will take your money and disappear. These types of "shortcuts" always pop up when they see a vulnerable victim. SteveD
Daliddleguy: Could you expand on that a bit? Besides 1) go prop, 2) use an offshore broker, or 3) save my allowance (BTW, IndexTrader: I'm probably twice your age, smartass! ), what else is there? Thanks for your advice, TD
No. I keep my daytrading prop account at $15k and pull $6-10k a month out of it consistently. But my buying power is well into the millions of dollars and I use that wisely. Making a living on $15k with 4 or even 10 to one bp would be tough, for me at least.
That's going a little too far. Even though the automatic negativity to any new idea is not unexpected at elite, to go as far as to say its a scam is definitely jumping the gun, especially from an uniformed person such as yourself. If you are not uniformed, then name someone who's been scammed by them? So far in this thread, I am the only one he even knows someone who has used http://www.alliancetrader.com. As I said earlier my friend has deposited and taken out money several times so far with no problem and he has day traded everyday for some time now. I must admit I am not a particularly trusting person either (being a New Yorker it comes with the territory), but this seems like it makes alot of sense to me. Frankly, I am surprised nobody (at least as far as I know) has come up with this idea already.
Why no go direct? Instead of an affialiate re-selling their services and getting a kickback? http://www.alliancetrader.com Michael B.
board at Yahoo.com: http://finance.groups.yahoo.com/group/amibroker/message/63918 Don't waste your time, people. This guy is just a regular spammer.
The safe way all around for someone who does not have 25k is to trade the eminis, which are not bound by the 25k min rule. Then you can trade with a trusted broker and earn your way up legally without worry of breaking anybodys rules.
In all environments when there is a barrier to some goal someone comes up with a way around said barrier. When money is tight, the "front fee" guys appear and for a small fee that has to be paid "up front" they will secure you financing for your endeavor. You are, of course, desperate to secure said financing and agree to pay this small fee, usually around 15K-25K. Of course, since you are going to make millions on your project this is but a small drop in the bucket. After they have secured fees from 60-80 potential clients they seem to go out of business. I know a guy that brought in about 3 million doing this. Got 5 years in state pen. Make no mistake about it the offshore route around PDT is 90% a scam. Doesn't pass the "smell test". If you want a real safe investment you should help the poor Nigerian middle manager who has access to several million dollars in un-invoiced funds in a foreign bank. If you will facilitate the banking arrangements he will share this with you, LOL. Be careful SteveD
Although most of the rest of you who posted correctly deduced that this type of operation is a SCAM, apparently electron is the first to also correctly determine what it started out as: SPAM! In addition to the opening post, notice what and when the thread-starter says at given points throughout this vain attempt to reel in any sucker(s). Moderator notified.
For the record: Although I expressed initial interest in this outfit, I dismissed it due to the high commissions (>$10/trade) -- too high for daytrading, IMO. As for this thread being spam, I don't know. I do know that 'nyc-hotshot' has offered good, vendor-free information on this site in the past, including a detailed ADX strategy. I doubt he's a spammer. Cheers, TD