Hello, I know I can run and manage a trading desk successfully. I also have a trading partner and we plan doing this together. (he is one who really knows the in's and outs of trading while I have management background, Im new trader but not totally clueless he plans on teaching some general trading ideas but he doesnt plan on giving away my edge 100% but lead my traders in the right direction. What is the percent of traders will actually make it? Any idea on numbers? Best firms to go with for affiliate deals? Better to go with a licensed firm or not? I plan on keeping fixed costs as low as possible so traders have a good chance. What is the general process? (contact firms for deals, get office space, computers and put adds up?) thanks
Short answer: You're wasting your time. Seriously, you're like 5-10 years late to this business concept. Long answer: 1) Without an easy to teach edges to newbies, your failure rate of new guys will be over 90% 2) At best, you will generate income from taking in "training fees" from new guys, aka their risk deposit and firing them before they burn through all of it 3) If by some crazy chance you actually develop a training program that translates to an easy to teach edge (hence worth backing them), it would be worthwhile to establish operations in third world nations, not USA.
Anaconda couldn't give you a better answer 1/10 traders stay more than 6 months and it doesn't mean that they are making huge money!
exactly right. why pay a big split of profits, when you can teach the edge, and pay someone $500 a month which is a relative fortune in the locality. OSTC did it succesfully in Poland, and I believe others have followed a similar model in south africa & elsewhere.