You are a complete moron. Marty Schwartz made his money selling books? Seriously. Do some research before you open your trap. You are beyond uninformed.
But your numbers are lying. You, like the others, are not accounting for the refunds. And I have no idea where you are getting 5400 from. A majority of those 500 are rollovers and you can't count them twice as most of them who roll are probably rolling for free. And your 27 number? That's how many guys that are live NOW. How many live total in 2 years? How many blew out? I'm guessing they have taken a decent amount in losses. Here is the final proof. And this goes for all the critics. If this model is really as lucrative as you think, then why are YOU not starting your own? Come on and don't tell you don't want to. There is not a single person on this website, myself and Don Bright included that would turn down 750k a year with minimal to zero risk. That's the very definition of asymmetric bet. No one here is making more then that. You are not doing it for the same reason that no one else in the industry is doing other then the newcomer Index Elite. Wow, a model so lucrative, so profitable, so risk free, and yet no one wants to replicate it? That's BS and you know it. When these prop firms started with their education model for 10k and getting a free account, firms started duplicating that right and left. The whole industry moved to the education model. Why? Because it was proven and it worked. So where is all the competition? Didn't think this through did you?
Schwartz: "I was broke in the 1970s, and I never wanted to be broke again. My philosophy was that if you make money every month, nothing bad is going to happen to you. So, you wonât be the richest person. Youâll never be the richest person anyway. What difference does it make? Iâm proud of my futures trading, because I took $40,000 and ran it up to about $20 million with never more than a 3 percent drawdown." Unlike your boy VN who had to have a garage sale and sell a bunch of his personal stuff to cover his losses after blowing out.
Top Step Trader. There are a "few" threads dedicated to them on the prop forums. You might want to check them out.
Thanks, no interest in checking them out or any other prop firm. Just did not know the reference to the "TST" Thanks, 1245
Mav, I'm not looking for a fight. I don't have any strong feelings either way.. But I notice you tend to be the type of person that swings from hot to cold. Examples When we first started this business, I was claiming that most props are looking for quants these day. You were claiming that there were several Chicago firms stilling hiring discretionary traders. You recently seemed to switch to what I was saying.. most firms aren't hiring discretionary traders but just quants to run boxes. You were claiming many times that don't risk more then 2% of your account per trade or you blow up. But when I point out your total account at TST (at lowest level) is only 1k then you come up with all kinds of other ideas such as treat it like blackjack.. consistency.. etc. Ideas that didn't jive with eveything you been saying earlier. (Note, I pointed out that if you are likely to blow out risking 4%-5% per day then your risk of blowing out at 2% is going to be very high. You have to run monte carlo simulations to see this is true.) In the TST/PTK thread you were defending them that they couldn't make money from running the combine but had to make it off their traders. Now you flip/flop in thread and claim that the only way to run one of these businesses is if that you make money off the combine fees.. that trying to make money off the traders will never work. ---- Mav, again I'm not trying to pick a fight. I don't really care but you speak with a great authority but your opinion changes quite often. I pay close attention because I am trying to learn from a "veteran"...
What if the trader passes all of the 6 month requirements in the first month? Can the trader go live in the second month? Also, how often does the trader get paid? Once a month payouts is like being salaried at a really really crappy low paying job. A trader should be paid every 2 weeks at worst but preferably at anytime.