you are off to an inauspicious start. is there something that u can add to this thread concerning SMB or are you a provocateur?.
They r somewut selective, but i didnt know that new traders have to pay $5k for their training tho. I thought they even pay a small salary on the top of profit split.
...i recently went through the training earlier this year... I had completely wrong and unrealistic expectations... i was arrogant cause i was the kind of guy who has been used to acheivement in various other career endeavors... this is not the place to come with unrealistic expectations... you have to be financnially "ready" for anything...whether it be mac and cheese nights for first year...but the the possiblity of success is highly probable if you stick with their training program... I myself have no incentive to lie or kiss ass cause i left on somewhat bad terms with Bella and I look back now and realize that I had the wrong attitude and just wasnt used to something being mentally hard at first for Ive always considered myself gifted academically... plus it didnt help that I had financial responsiblities that I had to take care of and thus had to hold on to my previous job in a part time capacity... the point im making is that...their training program is absolutely legitimate and if followed 100% without distraction such as a part time job always lingering in your mind then you have a good probability of success... I learned this the hard way of course by trying out other prop firms aftrewards and realized jusy how shady and "boiler room" this industry really is... the places I tried out after SMB all felt very cheap and bouzzsshhyy(grimy)... it was then I realized just how professional SMB was and how really great of a job spence and bella do to keep up a positive professional image of themselves...and also do not underestimate the value of how proactive they are when it come to training new people and building group cohesion, and being a part of things like Fast Money and various other public media tidbits because it proves they actually care about their reputuation where as these other traders at other prop firms dont even say "hi", let alone offer up a conversation about trading even though it was pretty obvious i needed help cause i was relatively new, they all had no initiative to offer any such help at all and basically left me to fend for myself against the churning of the wolves.... SMB was the total polar opposite.... please keep in mind i do not work for SMB and was there only little over a month, but in that month I realized just how 1 of a kind they really are.... its team atmosphere from the getco... it maybe every trader for himself...but they play it like baseball in that its an individual game in a team concept where they seek constantly not just improve themselves but to improve others and thus ultimately improve themselves again because of the talent they ultimately did develop... they are not closeminded gentleman, they have a desire to get big like a SAC or GS(just e.g.) through making sure everyone in the group knows all the secrets that everyone else in the group knows of, like one big collective(the borg)... i realize now that this is absolutely HUGE for a beginner or new trader and yet still very very crucial even for a veteran trader especially someoen caught in a "slump"...for that person can access the knowledge that every trader in that room possesses and now you trading with the confidence of everyone backing you up and it doesnt feel like you trading alone against IVY LEAGUE WALL STREET... i cant stress how important the mental confidence of "i got your back" is in this business... and these guys know that and aim to exploit that... at SMB, both spence and bella were all over us... homework, lectures, questions,...and not just going through the motions... they actually gave us, especially me, actuall upset slightly angered responses if some of the HW was not done or something was not done the way they liked it... at first i took offense cause im not a kid nor college student but a almost a 30 year old man... but then I realized after it was too late that it was better to have people who gave a shit to the point where they had genuine upset angry response type grudge whatever you wanna call it, perhaps even a obssessive negative assumptions about u if you did not follow and learn their way of trading cause what they were teaching was actually truly how they were trading...and to them i realize that any indication that you might not be giving 100 percent, whther it be your own fault through lazy or perhaps like me just too many financial obligations, far commute, or havin a 2nd, 3rd job...would insult them cause the techniques they were teaching were knowledge that took them years upon years to develop and here they were giving it to us for only 10K and in 5 weeks. to them it was parting of corporate trade secrets and whomever receiving it not fully embracing it be damned by them... they were pretty quick to judge and assume you class bad apple if you happen to be the first one of that class that just happens to indicate that maybe you didnt quite do things at 100 percent...whther by lazy or financial obligations... and as far as compensation... they goal was to make you the best trader possible...someone good enough not to care about how insignificant the comms were due to the amount of success you may have... I personally knew of 2 people for a fact that indeed make 6 figures there their first year... could comms be better...of course they could be better/...but at what price...cause right now they way it is...both partners have the incentive and drive, that no other prop trading firms seem to have, to wanna create the next big SAC and take you with them as long as you play by their rules... cause keep in mind it could be a lot worse and you could be in a dark room somewhere surrounded by what I ended up calling Zombies cause they just sat there suspiciously staring at each other through the corner of their eyes with out saying a word and just reading tape...every man for himself... hopefully by the grace of god whatever mistakes you make you can correct on your own and critique yourself... and remind yourself of the fundementals....(bullshit..trading is baseball... inevitably you need team mates that can tip you off there and there about the pitcher among other things....) ultimately what im getting at is that for me personally...it prolly was a little of both arragance and unpreparedness that cause me to leave... and the voice in my head that is still holding a grudge for leaving SMB the way I did only after a few weeks would want to get up here in ET and bash them too.... but the reality is that the same tone of attitude i hear in all these negative posts about SMB reak with the same poor attitude I had when I first started... all these negative posts sound as they they are coming from people who have had negative experiences in trading...and the kind and type of person that tries trading is usually someone who considers himself smart and highly imteligent or IE "the smarty pants"... this person like me will quickly find out that trading is not a mental excersice... it is indeed a technique more so akin to sports instead of einstein.... the concepts are are not difficult... just very unpractically tedious if not properly trained but yet can be very profitable.... and it would be very highly probable that your everyday "smart ass know it all" would get offended insulted by such childsplay and retaliate with disparaging remarks.... either due to some poor experience that they made out to be poor with SMB... or with some shady joint that I went to and they just wanna be quick to judge how bad it is cause they prolly not used to seeing what I saw at SMB... Im willing to bet that most traders have never seen that kind of atmosphere at SMB... bottom line... if it seems like whoever is making negative remarks seems like they going out of their way to say it, they prolly have a reason or bad childhood experience warranting that and they just cant admit that they couldnt hack or is barey getting by and being heard sayin/typing such remarks feels empowering for the weak minded follower who seeks the opinions of others other than his own judgment and experience... cause remember the type of person who trades in the first place is someone who is out for themselves to begin with so such remakrs are only just so natural... just keep in mind my experience when making a decision.... if i could go back I def would go about it with a much better attitude... because I for one always believed the grass is greener somewhere else... but in this case, espcially for new beginners...you really couldnt ask for anything more...
so right... Why hang on the rope when the brokerage industry should move on... like the shoe repairer... Fighting the market is impossible on the long run! The harder you fight the more unmorale you become. NeXt step is P2P market, organised in the sameway as certain darkpool... and more community share ( inversting in your pizza delivery or thing like it )... So please don't stop the march to progress...
This is a good business model. You give me 5,000 for "training" and then if/when you lose 1,000 of now my money I fire you. Until I fire you I try to sell you more "education". I will tell you it takes years to be good, but if you don't make me money in one or two months you are gone!!! Try to blame my training, but I will just say it's your emotions If you lose $10 then I shut your account down for the day... lol
no it is'nt a good business model... because it's unsustainable and worst makes you unable to pursue other business due to the ugliness of it. It's not a business it's a trick... furthermore by fooling people you expose your self to problems...
9 out of 10 kindergarden kids knew it was sarcasm. please tell us all your trades and we can take the other side