oldstyle, I like your post who would flame that kind of post, its good. what do you trrade now? equities?
i agree with oldstyle...these firms training programs are a joke..its designed for the trader to churn and burn.
oldstyle, well after 6 months there were only 3 out of 25 left...general rule of thumb is only 10% of traders make it in the biz so your firm's results are essentially the norm. attitude plays a huge role in being successful in this game and its easy to see why so many people on this site dont make money- their attitudes are terrible. now lets get back to the 3 out 25, so 22 people got the boot, do you people really think that this company made money on this deal because of commish? 22 loser traders getting charged $1.50 a contract for the 30 a day they traded? now thats big money!!! dont forget to add the money they lost trading! WOW, churn and burn prop houses make bank, i need to get involved in that...
I think you guys need to leave poor old Don Bright alone. The only time Don was a fast talking salesman was when he was selling used cars way back in the day. Just kidding Don, of course. Start your stop watch, Don will be on this thread within the hour!
Here is the problem. Many of these firms promote the concept of professional market making in futures as if their guys can actually "make the market". Now alot of these individuals do receive rock bottom "wholesale" commissions, but that does not compensate for their inability to actually "make the market". Many of them will "load the book" in a futile attempt to beat the herd to a specific price level, but once you have hordes upon hordes replicating this same approach, even this becomes diluted. Anyway, it has often been theorized that as commissions approached zero, the statistics of profitable traders would improve. Unfortunately, the aforementioned case of 3 out 25 winners proved otherwise. In general, though, as costs decrease, competition increases, and the markets will generally change their profile. Clearly, many can see this occurence over the past 2-3 years as many of these prop futures firms have opened shop. Good day.