Hey guys, alot of prop trading firms seems to "hire" traders and then charge them a standard fee for the training, are there legitimate trading firms that hire trader trainee and pay them to learn and trade?
Sure. Lots. But not in Davenport, Iowa. Most of them are in Chicago. And you better have a solid resume and it will help if you can program. If you want to be a pure directional trader, your best bet is to write a check and join one of the paid for training firms. It really depends on what type of trader you want to be.
Halfstep, it was explained to me as a necessity to have a night job to supplement your income for the first two years as a prop trader. Don't expect any profits until after that period and no matter what the training is if they don't emphasize automation it's probably best to stay away anyway.