I am sure i sound like an idiot but with regards to firms,what is a draw? i hear 2 month draw,4 month draw ect...what is that? thanks
They pay you in an advance on your trading profits. i.e. they pay you 2k a month draw, that comes out of your trading profits when it is time to pay you profits.
Never a stupid question. A draw is when you get paid each week or bi weekly. I.E if you get a 4k draw you get a thousand a week and this 4k comes off your total p&l for the month, one or two bad months you would be -8k for two plus whatever you are down trading. It's good when times get tough and you get some money to pay your bills.
so you get 1k per week on a 4k draw? however,what happens if your p&l is down 4k for the month;how do they recoup? thanks guys
Which shop(s) would provide minimum of 1k/week draw and how much trading capital would you have to put up initially? Any shops trading futures would provide draw? (Chicago area). Thanks for any info.
Hey Getting the draw is when you find out whos who- the crooks will tell you simply type in your request for a draw on the site , its usually mnthly . At the end of the month surprize no check , now they say" we cant imagine what happened- can you request it again on the site ", again a month later no check , now you cant get them on the phone and they dont answer emails ....you continue the call and sometimes the phone is busy , endlessly you keep trying and finally get a creep who is nice but blows you off over and over with hurried excuses hes trading or phone after market hrs or he has to confer with others or pretents he has no idea who you are and on and on until it is blatently obvious you have given your money to the slimiest crooks imaginable and you now need a lawyer , nice hey .....this was what it was like with HLV ,they soon changed there name and my cash was gone ,every traders nitemares confirmed. Make sure you do your research and dont end up in that situation .....