Log in or Sign up

ET News & Sponsor Info

General Topics

Markets

Technical Topics

Brokerage Firms

Company Specific

Interactive Brokers

Tools of the Trade

Trading for a Living

Community Lounge

Site Support

Feedback

HLV "Training" Program

Discussion in 'Prop Firms' started by kamdooo, May 3, 2005.

GoodPunk6
- 337
  Posts
- 0
  Likes
Quote from kamdooo:

heres the scoop:

You need to progress through each level to advance through the program and become a "trader". No capital contribution involved.

Step 1: 100 shares, .60 per order
stop loss = 20 dollars net
minimum of FIFTY trades per day
Goal to advance is 2 days in a row GROSS positive $10.

step 2: 300 shares, $1 per order
stop loss = $50 net
50 trades per day
Goal to advance is 2 days in a row
$10 NET positive.

step 3: 1,000 shares at a cost of $1 per order.
Stop loss = $100 net
50 trades per day
Goal to advance is 2 days in a row $100 NET positive.

step 4: 2,000 shares at a cost of $1 per executed fill. Stop loss = 200 net. 50 trades per day.

goal is to net 3,000 for the month (or 5,000 in 2 months, or 7,000 in 3 months) to graduate to "trader" status. Trader starts at $0 debit.

step 5: "trader" stop loss will be calculated as the past 14 trading day average, not including biggest gain day or biggest losing day.

Training is for 1 week. You throw down a 350 deposit, which is refunded at the end of trading.

You trade LU, microsoft...ect. The stocks you have to trade are from a preselected group.

So, what do you guys think? Its not your money at stake if you do it. I wonder if Goodpunk could comment on this. This is something new I guess. You can trade remote at the end of the program. You can't change the commish structure if you are trading company money. Its a 50/50 split. If you want to trade a differently strategy, say swinging 100 shares, you can do it after you graduate. You can do whatever you please, provided no overnight, if you put your own money in at the end....maybe with only 1k down.

Any feedback is welcome.
More...

Totally new to me. I knew that they were changing the structure but I wasn't too sure about what they were changing it to. Doesn't sound too bad......

#11 May 5, 2005

Share
Neodude
- 570
  Posts
- 0
  Likes
Quote from kamdooo:

hehe, which office did you think was ghetto?
More...

I think he was refering to the one on 42nd Street. I visited and must admit it was pretty shabby.

-Neo

#12 May 5, 2005

Share
Nutzo
- 144
  Posts
- 0
  Likes
I would suggest that you put the piece of paper that this "deal" was printed on and use it for emergency TOILET PAPER usage.

#13 May 5, 2005

Share
kamdooo Â
- 125
  Posts
- 0
  Likes
If you visit their site, it appears the they have announced this change in all their offices.

It doesn't seem very common for many prop firms to go from needing a capital contribution, to no cap down.

Any opinions?

How about this: Is this a good, bad, or insignificant change for the firm and its traders?

#14 May 8, 2005

Share
SethArb
- 5,934
  Posts
- 0
  Likes
heck ... I wonder what the desk fee is for this HLV
CAP location ?

-Shanghai, China-
"Maosheng Mansion"

how the blazes were they able to
to open an office in china ?

#15 May 8, 2005

Share
pumpkinhead
- 189
  Posts
- 0
  Likes
Has anybody gone with this HLV company with no capital? Do they really hire traders with no capital and actually pay them?

#16 Jun 19, 2006

Share
pumpkinhead
- 189
  Posts
- 0
  Likes
Quote from kamdooo:

heres the scoop:

You need to progress through each level to advance through the program and become a "trader". No capital contribution involved.

Step 1: 100 shares, .60 per order
stop loss = 20 dollars net
minimum of FIFTY trades per day
Goal to advance is 2 days in a row GROSS positive $10.

step 2: 300 shares, $1 per order
stop loss = $50 net
50 trades per day
Goal to advance is 2 days in a row
$10 NET positive.

step 3: 1,000 shares at a cost of $1 per order.
Stop loss = $100 net
50 trades per day
Goal to advance is 2 days in a row $100 NET positive.

step 4: 2,000 shares at a cost of $1 per executed fill. Stop loss = 200 net. 50 trades per day.

goal is to net 3,000 for the month (or 5,000 in 2 months, or 7,000 in 3 months) to graduate to "trader" status. Trader starts at $0 debit.

step 5: "trader" stop loss will be calculated as the past 14 trading day average, not including biggest gain day or biggest losing day.

Training is for 1 week. You throw down a 350 deposit, which is refunded at the end of trading.

You trade LU, microsoft...ect. The stocks you have to trade are from a preselected group.

So, what do you guys think? Its not your money at stake if you do it. I wonder if Goodpunk could comment on this. This is something new I guess. You can trade remote at the end of the program. You can't change the commish structure if you are trading company money. Its a 50/50 split. If you want to trade a differently strategy, say swinging 100 shares, you can do it after you graduate. You can do whatever you please, provided no overnight, if you put your own money in at the end....maybe with only 1k down.

Any feedback is welcome.
More...

kamdooo, Did you go to work for this company? How is it going?

#17 Jun 19, 2006

Share
nlslax
- 571
  Posts
- 0
  Likes
Quote from SethArb:

how the blazes were they able to
to open an office in china ?

More...

According to their website, they're also planning to open an office in "Isreal."

#18 Jun 19, 2006

Share
zdreg
- 17,654
  Posts
- 3,727
  Likes
http://www.elitetrader.com/vb/showthread.php?s=&threadid=70602&highlight=hlv

#19 Jun 19, 2006

Share
zdreg
- 17,654
  Posts
- 3,727
  Likes
Quote from kamdooo:

thanks for the advice guys. I don't know the specifics of the deal other than what I've mentioned, but i can find out.

Furthermore, Magna has suggested I stop posting monster.com like ads on this thread. I didn't know I was doing any wrong.

So i probably won't refer to any more companies by name if I describe the deal they ofer in such detail. But I think I can answer pm's about something I post on what I will refer to as "company x".

If there are any questions I should ask the guys offering the deal, let me know. If I start there, I might do a journal like goodpunk.
More...

you can name companies. just don't turn into it into a walking advertisement. the point of these threads is to enlighten. PMs are the one that usually turn into sales pitches

#20 Jun 19, 2006

Share

(You must log in or sign up to reply here.)

Search