I understand that some B/Ds don't require series 7 license. However, I believe that SEC requires all traders to have series 7. Tell me if I am wrong. Or is there a special rule in which an independent trader at a retail prop firm can trade without series 7?
Keystone continues to scam and disappoint. Initially, after reading it, I thought it was "free". Yeah, right: The next Keystone 20 online workshop begins February 2. There are are a few spots still available. 25 traders will fill out the workshop. Workshop and mentoring conducted in our private online mentor room. --------------------------------------------------------------------------- Do you have what it takes to be a professional trader? How much does it cost in time and money to learn the skills of a professional? If you have tried to learn on your own you know that it can be one of the most frustrating experiences of your life. The market is constantly changing creating doubt and confusion, not to mention the tens of thousands of dollars and years it takes to learn how to turn a consistent profit. Can you learn how to be a consistent trader from a three or five day class? Our experience says absolutely not. Let's think about learning how to drive a car. What is the difference between getting behind the wheel and driving on the local back roads in your neighborhood versus getting on a major highway? Obviously you need more experience with different driving conditions to drive confidently. Trading is the same way! You will need help understanding the different types of trading days and then learning how to trade what the current market is offering. I guess it's the equivalent of understanding when you can drive 55 or when you should slow down and hit the brake. Every day in the market, every drive in your car is not the same. You need to understand, with the guidance of a professional how to distinguish between a good day to trade and a tough one, a day where you would hit the brakes on your trading. Who should consider enrolling in Keystone 20? Anyone who is struggling to earn a consistent living as a full time trader, this is the perfect opportunity to move yourself from struggling trader to a trader who goes to the bank every month with a nice big fat check. The other candidate is someone who is considering leaving their full time job but is not 100% sure what trading for a living is really all about. Wouldn't you rather spend twenty days finding out before you quit? One of two things will happen, you will thank your lucky stars you didn't quit your job or you will be the most excited person on the planet because profession trading is everything you thought it would be. Too many new traders who have no experience want to learn how to drive 55 from the start. Are you one of those traders who have a world of talent but "crashed" your account before you understood and learned to recognize different market conditions? Keystone 20 is a twenty day workshop that you will trade real money and be guided by profitable mentors. The first three days you will learn our proven and simple trading plan (Equity Trader 101) that teaches you about order flow. Mutual funds, major institutions and hedge funds create buying and selling pressure when they need to accumulate or distribute a stock. This buying and selling pressure is the order flow that can move a stock for days, weeks or even months. Learning how to read order flow from your screen is only the first part of the equation and this is where the majority of trading classes fail! Any time you enter a trade you will have an expectation for the trade, in other words what you expected to happen. The reason for placing the trade in the first place. A little known secret that is known only by the top traders on Wall St. is that you must also learn to adjust your expectations while you are in the trade based on how the market, the stock, the index and the market internals are unfolding after you put on your position! Your initial expectation and your initial accepted risk do not have to be your final assessment for the trade. This is where most new traders get lost; they falsely believe that two identical chart patterns must have the same expectation. Nothing could be further from the truth! Can you imagine getting in your car and saying"well yesterday I got in my car, made a right turn and did 55miles per hour. I am doing the same today so I might as well do 55 again." That's ridiculous but that is how most new traders approach chart patterns. When you learn how to put ALL of the trading pieces into developing trade scenarios while experiencing many different market conditions only then will you be ready to tackle the market with confidence. You will now have a skill, not a degree from a seminar that will sit on your shelf unused for the next ten years. A career that will last you a lifetime. Let's face it; learning on your own can be expensive and frustrating. The tremendous volatility in today's algorithm driven trading environment can separate a potentially great trader from his or her money quickly. If you have a plan and understand how to take advantage of that volatility, this is trader heaven J Keystone 20 includes: Three day class Equity Trader 101 (online beginning the first Monday of each month) A live account to execute real trades (paper trading or simulated trading is worthless) The opportunity to experience and be mentored through many market scenarios and conditions (remember this is where most trading classes or seminars fail) You will have no market risk; Keystone absorbs 100% of the risk No commissions will be charged to your trading account for the twenty days. You will receive 50% of the net profits for the twenty days You will learn the art of "tape reading," how to interpret bids/offers/time and sales and how this skill will help you fine tune your entries and forecast the next immediate move. You will learn how a professional trader can execute hundreds of thousands of shares per day for no cost and actually get paid for order flow The opportunity to trade the live account remotely and be mentored online. (we have trained mentors dedicated to online instruction and mentoring) As a Keystone 20 student you will also receive: An invitation to our Private Mastermind Group. You will be invited to our monthly tele-seminar, receive an MP3 of the call and a transcript for you to highlight the most important points. A user name and password to Equity Trader 101 online home study course to review the main points over and over again at your convenience. Admission to Keystone Trading Concepts online Mentor room for an entire month after your Keystone 20 class is complete. And the best bonus of all: if you earn a measly $250 during Keystone 20 you automatically qualify to upgrade to either Keystone Premier or Keystone Platinum and trade our capital full time for a living! Each Keystone 20 class begins the first Monday of each month. Tuition for Keystone 20 is $3,495 (VISA/MC/AMEX accepted) ****Money back guarantee: If you are not 100% satisfied by the end of the first full day of class simply return all of your class manuals and you will receive a complete refund within seven business days. No questions asked. Oh yeah one more thing, I am not an accountant but I am pretty sure that class tuition is tax deductible, check with your CPA to confirm this. We have had a few potential students mention that they feel $3,495 is expensive. Well I ask you, expensive compared to what? How much would it cost in time and money to learn on your own? And if you did learn on your own; would you have the opportunity to trade unlimited buying power for a living after you have mastered the art of trading? If you have wanted to learn to trade for a living this is the opportunity you have been waiting for. The chance to become a professional. The chance to get paid for your skill, not your time. Say goodbye to dollars per hour and say hello to living the life you know you deserve. If you are a previous student of Equity Trader 101 we will be happy to apply your tuition already paid towards a Keystone 20 class. To get an idea of the quality of Equity Trader 101, we invite you to click the following link and watch our 55 minute preview video. http://keystonetrading.acrobat.com/et101preview/ To enroll in the next Keystone 20 class simply send an email to info@keystonetradingconcepts.com and place "next keystone 20 class" in the subject line or call (212) 594-8900 today. Keystone Trading Group | 450 7Th Ave. suite 1006 | Manhattan | NY | 10123
You beat me to posting this. They are a complete scam. They ramble on and on like a click-bank affiliate marketing scam or a late night informercial. If their program was worth a damn, the results would speak for itself and it would be competitive to get it. My favorite part of the email is this - "Oh yeah one more thing, I am not an accountant but I am pretty sure that class tuition is tax deductible, check with your CPA to confirm this." Wow, that's really professional!!!
I attended their open house. Their model is similar to SMB Trading. They want to create their own community of traders that will trade their capital either locally or remotely. They offer two routes/strategies, they make a selection by interview, and this is for a full time trading with them: Platinum - less shares for larger moves - Cost 5K, trader have no risk, trade their capital, split 80/20, cost of shares is $2.50/1000 shares. Premier - more shares for smaller moves - basically scalping - cost 5K, trader have no risk, trade their capital, split 50/50, cost of shares is $0.20/1000 shares. Both Premier & Platinum include the basic course - Equity Trader 101 ($2495 if taken separately). For those who want to test the ground and trade their own capital - they offer the Equity Trader 101 $2495. For those who want to take it a step further and test trading with them live - they offer Keystone 20 - $3495 which includes Equity Trader 101 + 20 days trading in their trading floor with full mentoring like all others. If you will net $250 in these 20 days you will qualify to move on to the Platinum or Premier and pay the difference. They are not Broker Dealer, traders will be on 1099, you do not need a license working with them, if you insist using your license they will accommodate, and they do offer benefits such as 401K, health insurance etc. Their model includes consistent, continued structured mentoring same as SMB TRADING. I asked them how long does it take in average to become consistently profitable using their system - 3-6 months to start making an average of $2000/month. However some guys became profitable after one month. WTS trading said the same. Hope this helped.
Does anyone here actually trade with Keystone or know anyone who does? Would love to hear your experience with them...good and bad.
Thanks for the fully informational, non judgmental post. I try and find helpful information, but this forum seems to continually have negative, seemingly unfounded posts on any topic dealing with training. There were a few actual traders and or people who had the information needed that posted here. If you read those posts it sounds like a better way to start for a novice than to go on their own guessing what to do. Two traders could trade a 90% winning system and one could make all the money he ever needed and the other could wash out daily. I think that needs to be taken into account when discussing any training programs. I read and consider everything I can find on trading. I think I have created an incredible system by myself, but I take a little bit from everything I have learned and I am always open to new ideas.
Can you be more specific? Where did you hear that? When? From who? Were they winning traders before trading for Keystone? Are they trading what Keystone teaches? The hardest thing to get is a real mentor or find anyone locally who is a real full time trader. Any program would benefit greatly if it could provide a real trader trading the system live for prospective students.
It seems that with the exception of Kreshner all of the firms that do not requiere a Deposit requiere a Training Fee.
Thanks for everyone's opinion. However, I'm still hoping someone who actually trades for Keystone will give me their experience/thoughts/views on trading for them.