Hey just pm'd you. I've hooked up with a much better company. massive BP with a little requirement, no training bs fee, flexible pay outs, modest monthly system fee, free before the street news which is pretty nice if you like to play quick in and out fundamentals. just pm me if anyone else is interested
Any current traders at WTS willing to share their experience? How's the training program? What kind of commision rates/payouts can you negotiate? How's the office enviorment? Thanks
(apologies for any typos or awkward sentences in advance... i'm going to assume you get the gist of the post) I trade there now and the training program is above average to say the least. It's hard to say when not comparing to any other training program but I learned a ton and became profitable from pretty early on - though it's still too early to say that I'm truly comfortable trading. The training program is 2 weeks long and is taught by an experienced trader who oftentimes will trade right in front of us to demonstrate some of the strategies we use. Just be sure to ask questions if you have them, it goes through a lot of material rather quickly. After your initial training session, you also go through continuing education sessions in the morning before the trading day. I'm not sure about being able to negotiate rates/payouts. I haven't had to do it yet but they outline things for you when you start as to what the agreed rate is. To be able to negotiate, you'd need to make some pretty serious cash. The office environment is pretty sweet. Everyone is relatively young and people are pretty supportive. The guys there are pretty funny and have no problem answering questions to the new guys. The managers are reasonable and just expect you to follow the trading rules. People are very open there and you can see everyone's performance in the office (and in other offices) if you want. All in all, being very new at this and never even having done any sort of finance/business stuff in my life, I love working there and hope to be able to stay for a while. I was thinking about jumping into this for a while and can not be happier with my choice. Trading can be tough, but the firm does have winning strategies that you learn about. If you follow the rules, which I strongly suggest you do if you decide to join, you will become profitable and will be able to have more buying power with access to more profitable strategies. Most of the traders on the floor now are profitable and a few traders from the first training group (started in Jan) make over $1k/day on a relatively consistent basis. I would recommend joining this firm to anyone if they were thinking about starting to trade.
Is WTS trading futures and do they allow remotes? I have several automated systems as well as a discretionary setup which are doing quite well. Would like to work remote with a legitimate firm to have the advantage of firm capital. Thanks
I know there are many remote traders but I'm not sure about any of the other stuff. I would suggest talking to one of the managers about it.
Tells, Appreciate the response. Can you eloberate on their trading style, what approach do they teach during the training program? Do you have to trade their method only or can you trade your own as well? Are you trading firm capital only or were you required to put up some money? Also can you comment about the $200 stop loss that was mentioned in this thread, is this true because that seems a little rediculous to me. Thanks
A combination of making spreads, using ecn's specifically designed for WTS traders, opening/closing strategies, dark pools, saving money by getting rebates, etc. You can trade your own style as long as you're profitable (obviously), but this approach is what they teach and has the most consistency in producing profitable traders. There are people who trade their own style in a profitable manner. I paid for a training program ($1500) and use their capital only. Foregoing the training program will probably mean you're a serious trader and can put up around $25k for a lot more buying power and a better split of profits. But this gets into areas I'm not familiar with.
You must have responded while I was editing my post. Can you comment on the $200 stop loss for traders.
They start you off small ($40) and incrementally increase you with consistent profitable days. Starting off, you'll be trading 100 shares. Obviously not to make money but to see what decisions you're making on your trades and how effective you are at minimizing losses. My information from before was incorrect. I'm realizing now that a $200 stop loss would be down right scary.