They don't have to teach very much, may be just tell u to trade small size and keep small .... So why does it cost 10k?
What is false advertising? Is that a SCAM! Your training fee becomes their capital , and they a cut if u make any money from it. Loss you are to pay more. As an employer, they are not taking any risk on you, and have very little interest in your making it. They looking for the next sucker who would fork over 10k. By the way, teh 10k account to "give" you is consider their money even though it is actually money you gave them. In cases where a prop takes a "risk deposit" instead of a "training fee", the money is still yours unless you lose it. SMB is setup to pocket your 10k before you even have a chance to paper trade with them. I read on another board about, their training is not good according to several who went thru it.
Here is the WTS deal I looked up http://wtsprop.com/news/events.html You have a capital contribution of 1,500 - there is no trading fees. There give 30 hrs of free training if you are selected. Training fees goes right into their pocket. Capital contribution is yours unless you lose it. Looks like a much more honest prop shop to me.
I know lots of people went to WTS and they not there any more. ( WhY?) yes they lost their money. I know alot of people they went to other trading firm , they also lost their money ! but they stayed there Yes a new trader will loose his money till he get enough experience so he can find what is the best trading strategy for him. If you start as a new trader and join ANY PROP FIRM you will loose your initial capital this is part of the game so dont come here and accuse those firm that they are nothing but a SCAM. take responsibility of your action . A trader must burn at lease twice and wipe out the whole account before he learn how to make money. Trading is not easy , SMB education and useless chat rooms of T3 will just help you to show the way and HELP YOU to get there faster, You can not learn these from a book you must be in the environment , you must be next to other traders and learn from their mistake and you try not make those mistakes.
Shit, I'm glad a better training method was developed for pilots. Can you imagine if becoming a competent pilot meant you had to crash at least two planes?
You are either a shill or a fool to pay 10k to be told how to trade small to start and protect your capital. Do you need to give away 10k to be in the environment when you can do so with 1500 with WTS, not only that, this 1500 is remains yours unless you lose it. Tell me how many of those who pay 10k to be with SMB is still there after 1 year, after 2 years? And how many of them make a living doing so? I bet the odds is as bad, if not worse, that WTS or the real props that doesn't charge you a trading fee.
This is so sad, I thought they are a legit trading firm because they were on the TV show. Turns out they are using the reputation to scam trader wannabes now.