Have you tried using the search feature on the site. Thanks for including the information on the firms you've researched. Although CY does not charge a platform fee, there are data fees, they're minimal but you should know about them. Also you will need esignal because the charts on laser are laughable.
I agree that you can't make a living on a 5k account. My current theory suggests that you need at least as much capital as you want to make in a year. For example, if you need 50k a year to live reasonably then you will need at least a 50k account.
Many have found this article very helpful. I receive dozens of phone calls and hundreds of emails each month from those who think they want to get involved in trading for a living. So much of our industry is simply misunderstood that I thought it was time for an analysis, hoping to help those in their quest. Complete article: http://www.traders.com/Documentation/FEEDbk_docs/2009/10/close.html FWIW, Don
As a newbie you would really be much better off in a office for the first couple of months because you will have a ton of questions and no support to help. If you get in the right office with a good bunch of traders and the right manager it is worth more then you know. With it being the start of summer break from university it would really be worth looking into if there is a floor you can trade on until mid August and then go remote after you get your newbie questions and mistakes out of the way. I can not speak for any firm that will be then another because within every firm there are a few goods floors were people are willing to help and with it every firm there are floors fill with people that are not help at all. Do you research no what your getting into, in the meantime if you have any question about what the prop world is really like send me a pm
Don, I took this out of your article and have a question. I don't see how firms who do this would be making money? For example, let's say a firm doesn't make money off commission and only charge 0.0002 per share. And just ask you to pay for losses if you have any. Is there any wrong in doing that? It would seem the firm would have true vested interest in the development of their traders. "Some groups claim that you will be trading with âthe firmâs money,â thus placing you into a quasi-employee status. Their deal is to charge you $5,000 to $15,000 or more as a training fee. Then theyâll let you trade in very small increments until you lose a bit and then theyâll let you go, thus keeping most of that fee."
There is a simple rule for prop firms. Avoid any firm that sounds like it could moonlight as an overnight trucking service. That really cuts down on the number of firms for ya.
what to say about this company?? http://jctradinggroup.com/ I do not publicize it - I asked about it, because it is new - a little-known, perhaps someone from the community of traders know about it and its founders - reliable or not?