Innovative Trading Get Real!

Discussion in 'Professional Trading' started by DaytraderDave, Oct 5, 2002.

  1. Change your ad on Monster. I've had people PM directly asked about do you think they really offer:

    Salary: USD 40,000.00 to USD 150,000.00 per year
    commission (Straight from the Ad)

    And I say of course they do because they're the best trainers in the world, and they have the ability to make sure anyone has money... and since you fill out the evaluation for you are sure to find the best fit for you. And did the add forget to mention that you have to put down a fee for the training and placement.

    This is not to say Innovative is worth it or not, but that ad is 100% deceptive. Last survey I saw 40k to 150k for people coming into any firm average is impossible. I;ve worked at four firms, know people at dozens of others, and have never heard of a firm promising these type of results. And

    Account funding is provided by an established relationship with private investment groups and thus no licensing is required for account management. Multiple brokers are utilized to establish positions. (Straight from the ad)

    Personally talked with someone there, and they do not offer backing of risk capital. They're excuse is, if you start making money we will, but you need to prove yourself. Get real.

    Go to, and do a search on innovative trading, and see for yourself and come back with your opinions. I'm not arguing if they're training is great, or not, more specifically the ad itself is a lot of ....
  2. You just can't stand the fact that no one has "bashed" Innovative Trading on the boards in the past 3 weeks, eh?

    I've never seen someone as obvious as yourself, constantly stirring the pot.

    Tell me, do you ever trade?
    Or do you just spend most of your free time in an "unproductive" manner.

    You act as if a small firm like Innovative is taking money from widows and orphans all over the world.

  3. Note Waggie. I've specifically stated that they need to change that they use false advertising to try to recruit traders, with promises of salary of $40K to $150K. And have yet to change it.

    Just got a message that from someone who asked do they really offer a salary? And of course the answer is no. Do they offer risk capital, and again the answer is no. Do they tell you upfront in the add of the placement fee? Again the answer is no. You'd think they reword the advertisement, I say advertisement because it really isn't a job listing, since your paying for they're services.

    By the way, heres the private message that Waggie sent me:

    You are probably totally unaware of this, but Innovative is now based in San Francisco, marketing itself and its IB services to hedge-funds.

    The ad that you continually refer to on Monster is most likely out-of-date.

    Time to find another "drum" to bang on, brother!


    Now let me answer. The ad that I keep mentioning is dated Sept 27th. Less than two weeks ago. Last time I posted about Innovative was Sept 18th, but the last message I received from someone asking me a question about the firm was today. At least I know you don't work for them cause you don't do your research, and have no idea what your talking about.

    Next point, they are not based in San Francisco. They have a relationship/presense with a firm in the area. There heardquarters is as follows, as of Sept 27th:

    Dave Ross
    Innovative Trading
    8316 159th Pl. NE
    Redmond WA 98052
    Ph: 425 881 2199
    Fax: 425 881-2089

    So Waggie. You want to defend them fine. But please get your facts straight before you start throughing out misinformation.

    And last question. Why do you care what I do in my free time? Does the defense of Innovative equate to some type of gain for yourself? Does it help your trading? Didn't think so. And it doesn't do much financially for me. I mean other than the fact I'm starting a firm up called Innovative Traders, that is going to be much more innovative in pricing, I'll not only make money on commissions, percentage payout, finders fee, training fee.... oh wait, never mind they already do that.

    I've stated my position with these guys before, and experience. Nothing horrible nothing great. But it does bother me, and I've made it clear, that they advertising is deceptive, and they charge traders for something that they can do on there own quite easily.

    And the question do I trade. Believe it or not, yes I do. But you know spending all this type writing this post on the weekend, when the market is closed really does effect my trading.
  4. nitro



    FWIW, I think it is a good thing you are doing...

  5. RainMaker3000

    RainMaker3000 Guest

    how many traders are under innovative
  6. sherif24


    I'm under Innovative. As I said on another thread here, they have been fair and honest with me, and have worked out a good deal for me with more leverage than I was able to find anywhere else. Right now, trading around 250-300,000 shares a month I'm paying 1.2 cents all-in. Payout is 90% of net. Buying power is 10x my capital.

    They're sponsoring me to get my series 7, and the better I do as far as track record, the more leverage and better deal they are able to get me...

    As far as the ads on Monster, I'm willing to give these guys the benefit of the doubt and say that the quoted figures are approximations of what a good trader can expect to earn. As far as the funded accounts, I know that they are being provided to traders that qualify.

    I was willing to pay the consultation fee because, as I said, I was able to leverage my relatively small starting capital and they have provided great service.

    Not telling anyone else what to do, but I am saying that my experience with Innovative has been solid, and I talk to my rep there pretty much everyday for the last 3 months...always there to help me and try to make my deal better.
  7. smokey_mcPaat

    smokey_mcPaat Guest

    WHAT A LOAD OF HORSESHIT!!!!!!!!!!!!!!!!!!!!!!
    but then again, you don't trade volume- hell your monthly volume I do in 2 days........
    but- this business of charging a finder's fee to match you and YOUR OWN CAPITAL to a firm is just a real load of crap- why should you pay anyone to do that when you can easily take your money and trade at the firm that will offer you the best deal- shop around- there are some firms out there that are not total jerkoffs like innovative :D :D
  8. d,d, and d (3 stooges) and the rest of those crooks need to be investigated by the SEC for false and misleading advertising.
    Our business isnt shifty enough and these loser trader wannabees decide to pay a 1 time monster fee to unload their line of bullshit day after day. They need to get the taste of cornbread and manmeat in their rears because they are going to the shitter when they get caught.
  9. trader98



    1.2 cents per share is a horrible deal; even if it is all inclusive. What exactly do these Innovative guys do? It seems to me that they take advantage of new traders who don't know any better.
  10. Hell, you can trade for cheaper than that with a retail broker like Ameritrade or Datek, and still get 4x leverage and 100% payout. So, let me get this straight Sherif24, YOU had to pay to get this deal?
    #10     Oct 6, 2002