Swift Trade Question

Discussion in 'Stocks' started by lorneg, Jul 30, 2009.

  1. lorneg


    Yes I know there are but this one is unique. My branch will be charging 200$ for desk space per month. + the 150$ to start. Is it worth it? Serious question.

    Do other branches do this or are they trying to ... me?

    I'm a new trader, 3 months at home. I NEED a mentor and that's why I'm trying to join up but I'm also a 3rd year accounting student at university and can hardly afford this, first month I'd have to pay up front as well and the rest will come from my income, if I receive any.
  2. I am assuming that the 200$ per month you are refferring to are the monthly fees for nasdaq/nyse quotes, you will pay similar fees every month to operate most companies software with quotes, so i would say overall it is a decent deal, go in, place TONS of trades and get a feel for software and learn how to execute properly, Swift is definately not a good long term option but it is a good place to start out.

    Dont expect anyone to teach you much though, besides the basics you would learn by reading a couple books. No one in this business will give you a profitable method to get started, besides maybe Bright Tradign who will teach you opening orders for a fee.
  3. lorneg


    actually, forgot to mention but if I go under -100$ then I get cut or have to put in 100$ of my own capital
  4. If thats the case then you are better off on your own, no one from Swift is gonna teach you how to trade, the ones making money there (except for a couple guys) are gimmick traders who will not teach you their gimmick of choice, if you have to cover losses and you have capital id say do it on your own, as you will learn more from trial and error on your own than anyone teaching you. There are a few decent trading chatrooms where you can listen and learn what types of patterns pros like for free.

    If you really feel you need teaching, i would say Bright but they will charge you,(i think, may be wrong) and to be honest no one is going to teach you to make BIG money. I would say Don Bright is the most honest Prop owner in this business though, talk to him, his handle on here is Don Bright.
  5. lorneg


    jeez, this whole being a student with no money is really killing my trading heh.