SMB charges 10K for training that is outrages, But atleast this guys are honest , they telling every one you can not expect to get reach over night and it takes 6 months before you start to be profitable But paying 10K upfront is alot of money. you can start with other prop legit firm in that accept 5K , BUT DO NOT go to AVATAR this guys are are not honest . just do a google search and find out other prop firm that you can join with no training fee , you always can learn with trial and errors , if you trade remotely it is hard to learn from other people but if you trade in an office you can talk to other traders ad kearn from there so the answer is SMB and Steve and Mike are honest people i know them personally but 10 K is a loooooooooooot of money , but it is what it is Just be careful who you pick
No one needs an office. All you need is a few good traders hooked up via chat/audio. Dont know where this is being done, but it has to be happening. Prob with stocktwits and the other public venues like this is its loaded with ASSHOLES.
seriously , anyone paying 10k for trades like CSTR at 44 is getting yanked. those that can , trade, those that cant, teach others to ......
That's pretty much what I think. People that are killing it trading, don't look to make teaching and writing the centerpiece of their business. They make trading the centerpiece and seek to enlist new talent, not new suckers to fork over 10K for training.
What do you mean back by 100%? The trader keeps a percentage of the profits he makes, and doesn't have to put up his own capital? Sounds like a good program. The problem with the up front fees for training is that the training doesn't work because the prop firm doesn't care if it works. They don't care because they have no incentive to care. Once they have the wannabe trader's money, it's not going to be returned. So they put together something called training, in which they send in their least useful members to teach. They're going to keep any competent traders they have, trading, not teaching. If a competent trader does any teaching, it's going to be briefly, during market doldrums while eating a sandwich. If there were no up front fees and the shop's only return was a percentage of each trainee's profits, think how much different the program would be. There probably wouldn't be any training. Trainees would immediately be plopped in front of a computer next to a competent trader for intensive learn-while-doing. That's the problem with education in general in the US. Get the students to pay up front and provide something that looks like teaching. Who cares if the students graduate deep in debt with no job prospects? The schools and universities already got their money. It's not like they're going to be forced to provide refunds for poor-quality training.