Discussion in 'Prop Firms' started by FX-Trader, Jul 15, 2003.
I'm very happy to see your interest in the education of traders.....Trading is best left to those who take it seriously, as a profession, and take the time to see how it can be done profitably.
As you probably know, my brother and I have been teaching traders for decades (both within our own ranks, and at the College level).
Anyway, just wanted to say "keep up the good work!"....
Thanks for the link!
Three months in the classroom and three months in paper trading are just about enough to keep a new trader - with no experience other than a good quantitative college or grad school background - from going bankrupt.
As with all schools and training institutions, the hard questions are rarely answered in a public venue: The same questions need to be asked for all vendors: colleges, universities, training programs etc.
Questions like " What is my Return on Investment ? ", "What is the percentage of individuals that start the program and that succescfully complete it ?", "What is your trainging goal: to eliminate or bring everyone through the program successfully ? "
"How does your program relate to your fianancial statements: is this designed to bring in profits or to provide a service to another branch of your organization ? "
Start asking these questions and demand to see hard verified numbers i.e. percentage of people that received a job offer, their income after one year out of the program, two years out, etc.
and you will seperate the liars from the honest people.
We did, start asking the hard questions....
very few realistic answers, which wasn't surprising....
here's the thread:
anybody take or hear of DTI in mobile alabama? run by a S&P trader, Tom Busby.
I'm assuming that during the training that the trainees are not getting paid a dime, correct ? So I would have to go for 6 mo and not be getting paid, then "if" I make it, I would be awarded a "trading acct" and then get a cut of the profits ? That's a long time (and big gamble) if you don't make it !!! Plus, I wonder how big of an acct you would get, big enough to overcome 6 unpaid months and still have a decent year? Sounds interested, but what a hump to get over in the beginning !!!
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