Prop Traders - Swifttrade ??? my english isn't so good so excuse me ! What these traders actually do? Are they trading with using their own money? or they trade with money that swifttrade give them? When people go there( in swifttrade) - Are they pay for the education/courses swifttrade gave them? Thanks!
Swift provides the capital. You don't use any of your own money. The entire training fee was $90 for me. I learned using their money entirely, which was good because I lost a lot in the beginning! Great place to learn, then move on for a better deal.
I am from Bulgaria! And Swifttrade are now search for 20 day traders! But what is their profit for the education they'll give me? only 90 bucks ???
the level of training varies depending on which firm you go to. I trade for swift in Alberta,Canada and the traders here have had to figure everything out on their own. the best advice i can give you is find an office with experienced profitable traders and your learning curve will be shortened..i have never heard of a swift office charging a fee for training but like i said, training varies from office to office. like most prop firms they keep a percentage of profits that their traders make and you keep the rest, that's how they make money.
you mean they don't make money by paying out draws or charging .008's? lol,. seriously anyone think of a way swift/title/ profits aside from the split?
So you mean that I don't have to pay for education - that's right! But it's strange to me that if I loose swifttrade's money I do not have to pay for! Is this really true???
thats the risk they take...if you are not profitable they can let you go and you have risked nothing but your time.. i really recommend swift as its a good place to start.
It's quiet simple. They let you risk $50 a day [or less] to start. If you have skills they'll throw money at you... a single trader can do enough profit to cover 20 trainees... All they need to do is find that trader...
You seem to be under the impression that you will be allowed to lose lots of money using whatever trading strategy you deem fit. In reality you will be limited to a stop loss of $30-$50 and will be taught a strategy that will restrict you from taking on high risk trades. Your share size will also be limited to 100 shares so you will not be able to lose a lot of money even if you wanted to. If by some miracle you find a profitable trading strategy under these constraints then you will be given more shares and more buying power. If you lose money or show little progress then you will be told to leave. Try to make friends with the senior traders and learn from them. Its highly unlikely that you will make any money in the next six months, you need to be prepared for that. Good luck!