May be of some interest with regards to Matrix Trading Group: Actually, this statistic is probably usual for most retail daytraders.
OK. I guess given that PERSPECTIVE then it makes some sense though. But it still seems rather a huge hurdle to jump over. Bascially making $200K just to get $66K/yr. Hmm.. I guess it beats getting nothing. But if the environment is good and you have a large capital to play with then maybe it's possible... I'm still confused now...
http://www.cftc.gov/cftc/cftchome.htm Just do a search for the commodity firm. Here's the one on Matrix. http://www.cftc.gov/enf/00orders/enfmatrix.htm
misctrader, Lots of question: What kind of size do they let you trade....I guess this makes a huge difference in the equation (assuming you are profitable). I also assume that it grows with your profitability. Did you ask them their failure/success rate? Also, did they tell you what type of trading you would be doing? S&P daytrade, trading the NOB, other spreading? Is it up to the individual trader, or do they make the judgement call? Do they offer training...and is it good, or is it the trial by fire approach? Thanks MYD
They scalp. It's all intraday/daytrading. They trade the bund, bobl, eurostoxx, they just got the eminis this week, and they also trade the NOB spread. It's up to you to trade what you want. It's trial by fire. You start out on a simulator. If you get consistent, you get to trade one contract. If you're consistent it goes up. You're not going to get massive size to trade, but they have the resources to give you more than adequate size for scalping purposes if you're good enough to justify the size. All info from a trader there so I would guess it's accurate.
Other trader's success rates are probably NOT that important to you. The question is can YOU be successful? Trading is an individual sport in the end. It's NOT a team sport. It's going to be hard to make $200K scalping futures even with size to make $66K total take-home before taxes. Yeah. Oh well. misc