I'm going to try to meet with Michael in person and I'll try to make this happen. Are you honestly going to be fair in your review of this or are you going to blame them that the market is too tough, nothings moving, software sucks, the rules are too hard, etc. It's hard for me to recommend a guy because I don't know you from a hole in the wall. I know a lot of guys on ET I've met in person who I would trust to give an honest review.
I'm shocked that after being threatened with legal action and harassed hourly on 3 different threads that he is not around. Go figure. I'll contact him and set this up if you are for real. One of the ways you can demonstrate that is by acting like an adult and not making childish remarks over and over. I'm not accusing you of that, I'm saying that is how anyone can show some character around here and let this happen. Quite frankly I'm embarrassed to me a member of this site right now. I've never seen the quality of posters this low and I've been here 10 years. I've seen this behavior down in P&R but always thought the trading threads had higher quality content. Again, this is not directed at you specifically. But whoever does this, I hope they start showing some maturity.
It was a joke. In case you didn't recognize the line, it's from the tv show "the love boat". Come on ammo. Get a sense of humor. LOL.
<iframe width="420" height="315" src="http://www.youtube.com/embed/m_wFEB4Oxlo" frameborder="0" allowfullscreen></iframe> I swear I was really young when this aired on ABC years ago.
Mavrick I have a better idea - 1. Go make a shit load of money as a retail trader. Don't open a prop trading firm, don't open a bucket shop, don't promote bucket shops and thats it
I'm familiar with SMB, and just thought I'd throw this out there. Basically what SMB does, is they charge you roughly $6k for 'Trader Development'. You can't take 'Trader Development' until you pay $5k for 'Foundation'. THe $6k for 'Development' will basically 'fund' your account, and you do a profit split of 50/50. If your account balance dips below $6k, you will be terminated. I've actually heard that now along with the $6k you give, you also have to fund your own account with T3, but not 100% about this. Commissions are low there, but their method kind of promotes trading a lot, some their 'senior traders' (not very many have been trading longer then 3 yrs, either they blow out or get a better deal) will trade 100kshs a day and barely be net positive, with ticket averages 5-6ish. I suspect that some of those senior trader might trade practically for free so maybe they don't care, but I could be wrong. Market has changed a lot since those guys started trading and the book was written, and I suspect that most aren't making it anymore. Also, SMB did necessarily partner with T3, they needed to for their CBSX structure as SMB doesn't have one. (or something along those lines)
Wow, that's worse then I thought. So basically you pay them 11k. They let you lose 6k so they lock in 5k from your deposit. They make money on the commissions. And heaven forbid you should make anything, they take 50% of your profits. Do you know if that is for life? Are you locked into that 50/50 split? Don't get me wrong, this model is great for them but horrible for the trader.