I have a 2nd round interview with Tower Hill coming up, could you tell me why you think it's a scam?? This is obviously very important to me, please reply if you see this! Or PM me.
I traded with Tower Hill/Great point/Maverick back in '02 and '03. I enjoyed it but left after a year. I was gross and net profitable. Six years later now I want to go back, but everyone says there are better deals out there... So who has these better deals?
Good question. Common sense would tell you they must be out there. These prop firms don't seem to be too selective in who they choose to bring on and they certainly don't get all that in-depth with training. They just expect to hit the jackpot on 1 out of 50 kids and that kid makes up for the losses of the other 49. They just take an enormous cut of the profitable trader's earnings. In a way, they're taking advantage of the naivete of these young guys who just want to trade, so they can pay a meager or non-existent salary. Compare that with firms who are more selective hirers: they pay more and have more invested in the education of a new trader. If they expect someone to do well, naturally they're going to pay them a higher cut to stick around. In my opinion you really do have to have a positive track record. And if that's the case, why wouldn't you just trade all on your own? Kind of a catch-22.
i am based out of india.....trading for a subsidiary of gpt....we are paid $200 per month ....it has to be recovered.....payout at 70%....45%after 2 months( have to close positive both months).....25% after 18 months after we accumulate $25000....so most traders can forget this amount .......ticket charges $6 including ecn fees........ another bit of info until we had subsidiary of hold brothers as competition we were only paid just 10% of profits ofcourse princely salary of $200 wasn't recoverable...... :
"i am based out of india.....trading for a subsidiary of gpt....we are paid $200 per month ....it has to be recovered.....payout at 70%....45%after 2 months( have to close positive both months).....25% after 18 months after we accumulate $25000....so most traders can forget this amount .......ticket charges $6 including ecn fees........ another bit of info until we had subsidiary of hold brothers as competition we were only paid just 10% of profits ofcourse princely salary of $200 wasn't recoverable......" You are being paid $200 a month? What percent of your profits do you get to keep? If you are paying $6 tickets you are getting robbed and should be keeping 100% of your profits. I would suggest looking around if those are your terms. Many firms have opened offices in India and you should be able to get a more competitive rate.
I hear Greatpoint Capital, Maverick, Greatpoint trading and Tower Hill Trading are all Great places to trade. I hear several traders have lost their money when deciding to leave. Other than this I have heard only good things.
you keep posting the same crap "great firm" references for TH. So much so that you have to ressurect one from a few months now. If you are gonna pump YOUR FIRM here on the board, buy an add. You got to pay the man if you want to do that!!!
funny how there used to be a guy named Doyle working there..........and now Doylethecrook keeps hyping up how great that place is....................too cheap to place ads now doyle?