I have to disagree with you about that $500 fee.... Even if I preffered not to pay for the course and for the opportunity to learn day trading and to trade at Swift, I think it's OK if they are asking those money because: - not everybody who take that course is or it's gonna be a trader. Even if it's not rocket science it's not suitable for everyone. Everybody is trying to become a trader or to do good trades on firms money. Maybe somebody is even so undisciplined that he not respects that cutting losses rule, so he lose more firms money. I assume that if you'll gonna hit the limit of those $500 fee, you'll be out or something. Maybe some of them will not gonna be good traders never - it is a huge opportunity to learn how to trade without taking some special training, or acreditation, which costs a lot more and involve longer time-period of study, and you may pass or not, you may become good or not, you may find a job or not, and so on - any piece of information costs, any training costs... In the end it's all about personal choice, if you want to take the course and if you think that's woth it for you than you'll pay the fee. In the end it's all about personal abilities,about everybody's capability to succeed in something or not; if you'll gonna learn something and if you'll become better in trading, if this is what you wanna do, than $500 fee it's a really bad and stupid reason not to try it. For me, trading is what I wanna do, I want to become a very succesful trader, and I'm sure that I'm gonna be, and I was very happy when I found out about Swift Trade, I was disappointed when I heard about the fee, I've read all the treads about the firm on this site, positive and negative opinions, and in the end I choose to go for it and see how I'm gonna do it. I found that is the easiest and the fastest way to learn and to trade. Of course that I know about CSI and the trading course which can give you a chance to search for a trader job, but it's much more expensive and takes much more time. I wanna do those courses too, but for now I go on this path, even if it's kind of hard for me (i am a new immigrant, I live at 50 km away from the office, and I can continue....). That is all for now, again I want to appologise for my bad English. I wish you all good luck!!!
Hi mysthars, I think $500 in the beginning is ok too. what is not ok is telling that after 2-3 weeks they would say who stays and who goes and then asking again for more money if guys want to trade. My goal is same as yours. to become very successful trader. It takes a lot of work, but frankly if someone has not talent, nothing would help him.
I think that if you'll become a good trader and you'll make good money they will not ask you to pay any extra trading fee, except the transactions fees; if they'll ask you to pay like a $100 fee if you wanna trade, it's nothing again, if you'll make good money. If after 1 month they ask for $100 fee, probably it's because you are not very good yet, so if you wanna try more you have to pay. Like with any other trading company, if you wanna some kind of advance platform you have to pay extra for it, no? There are many obstacles to pass along the way, so if this is one of them I'll not stumble in it, it's my opinion and I dedicate myself to trading and try not to think to such things (I have to pay $300 for gas each month, $100 for lunch, and I don't know on what, I will applie for EI or wellfare for while maybe, but this are sacrifices that are everybody's personal decisions). So....
Well, They asked everyone to pay $100 and frankly, i have been watching results and I was one of the best new guys. I had only one really bad day and only cause I bought by mistake 300 or 600 shares. My lose was no more than $20-25 for 2 weeks and mostly due to this day. I had twice more winning days than losing and other guys sure lost much more in total. It is not that they give me chance and ask for $100 more. I believe that you are a younger guy so you do not understand some things. You should know that other companies in GTA are not asking even for $500 in the beginning. as a matter of fact I am making great sacrifices too. I am trading my own money. I had to quit my job cause it interfered with my trading. I believe that this particular branch is not making enough money that is why they are asking students to pay. I believe that if student lost $100 it might be ok to ask him to pay, but in my case loss was very small and I was making constant progress. In fact, I was working at night, then trading Forex for few hours, than trading Swifttrade and then working again. sleep 4-5 hours. Your attitude is good so is mine. By the way, could you tell me what those guys gave you as information? They give nothing, they do not teach you anything. Just tell you, cut losses at 2-3 cents and taht it is. Everything they were telling us in the first 3 days i knew already by reading from internet. They just throw dirt against the wall hoping that something will stick. The only good thing is that they give money to trade, but well, what companies you trade? Ford, Xerox and the rest. 100 shares of those worth less than $500. You actually paid them your own money and you are trading them If you think that I am not good enough, check my trading results. People who see my trading saay that I have got a talent and I am working on developing it further. well, good lucjk and keep your eyes opened. also, try to check daily how senior traders trade and how much on daily basis...
updates ?????? so whats going on in your office are they still asking for 100 bucks to tradE? do they fire people somtimes ?
I am no longer with Markham Swift Trade. Right now trading Forex from home. Building trading history for a couple of prop firms. The day when they told us in advance they would tell who stay and who go Tracy told us, those who want to continue trading second month must pay $100. They did not tell this in the beginning. They taught us nothing.
How does this look? trade Summary Date Event Volume Curr Pair Price P&L P&L USD Commission 7/29/2008 5:19:03 PM Buy 2000 EUR/CHF $1.6315 ($0.46) ($0.46) ($0.16) 7/29/2008 5:25:03 PM Buy 2000 EUR/CHF $1.6308 $0.86 $0.86 ($0.16) 7/29/2008 5:25:16 PM SellSht 1000 EUR/CHF $1.6308 $0.00 $0.00 ($0.08) 7/29/2008 7:05:16 PM Buy 1000 EUR/CHF $1.6303 $0.45 $0.45 ($0.08) 7/30/2008 5:59:14 AM SellSht 1000 EUR/CHF $1.6319 $0.00 $0.00 ($0.08) 7/30/2008 6:04:44 AM Buy 1000 EUR/CHF $1.6315 $0.38 $0.38 ($0.08) 7/30/2008 6:05:02 AM SellSht 1000 EUR/CHF $1.6313 $0.00 $0.00 ($0.08) 7/30/2008 6:33:30 AM Buy 1000 EUR/CHF $1.6309 $0.38 $0.38 ($0.08) 7/30/2008 6:33:58 AM SellSht 1000 EUR/CHF $1.6309 $0.00 $0.00 ($0.08) 7/30/2008 6:59:19 AM SellSht 1000 EUR/CHF $1.6319 $0.00 $0.00 ($0.08) 7/31/2008 7:46:03 AM SellSht 4000 EUR/CHF $1.6356 $0.00 $0.00 ($0.31) 7/31/2008 8:36:30 AM Buy 4000 EUR/CHF $1.6338 $1.58 $1.58 ($0.31) 7/31/2008 8:37:06 AM Buy 2000 EUR/CHF $1.6338 $0.79 $0.79 ($0.16) 7/31/2008 8:37:23 AM SellSht 1000 EUR/CHF $1.6338 $0.00 $0.00 ($0.08) 7/31/2008 8:40:36 AM Buy 1000 EUR/CHF $1.6334 $0.38 $0.38 ($0.08) 7/31/2008 8:40:57 AM SellSht 1000 EUR/CHF $1.6332 $0.00 $0.00 ($0.08) 7/31/2008 8:48:40 AM SellSht 1000 EUR/CHF $1.6340 $0.00 $0.00 ($0.08) 7/31/2008 9:07:05 AM Buy 1000 EUR/CHF $1.6333 $0.29 $0.29 ($0.08) 7/31/2008 9:07:25 AM Buy 1000 EUR/CHF $1.6333 $0.29 $0.29 ($0.08) 7/31/2008 9:08:11 AM SellSht 1000 EUR/CHF $1.6330 $0.00 $0.00 ($0.08) 7/31/2008 9:29:53 AM SellSht 1000 EUR/CHF $1.6341 $0.00 $0.00 ($0.08) 7/31/2008 11:55:40 AM SellSht 1000 EUR/CHF $1.6354 $0.00 $0.00 ($0.08) 7/31/2008 12:57:25 PM Buy 3000 EUR/CHF $1.6339 $0.77 $0.77 ($0.23) 7/31/2008 1:06:57 PM SellSht 3000 EUR/CHF $1.6343 $0.00 $0.00 ($0.23) 7/31/2008 2:33:24 PM Buy 3000 EUR/CHF $1.6341 $0.57 $0.57 ($0.23) 7/31/2008 2:45:28 PM SellSht 1000 EUR/CHF $1.6344 $0.00 $0.00 ($0.08) 7/31/2008 2:53:27 PM Buy 1000 EUR/CHF $1.6340 $0.38 $0.38 ($0.08) 7/31/2008 3:05:27 PM SellSht 1000 EUR/CHF $1.6340 $0.00 $0.00 ($0.08) 7/31/2008 3:49:42 PM Buy 1000 EUR/CHF $1.6336 $0.38 $0.38 ($0.08) 7/31/2008 4:37:17 PM SellSht 1000 EUR/CHF $1.6340 $0.00 $0.00 ($0.08) 7/31/2008 5:15:28 PM Buy 1000 EUR/CHF $1.6336 $0.38 $0.38 ($0.08) 31 trades 46000 $7.44 ($3.63)
You probably do not understand Forex trading well, it is my style and it works beautifully. Just look at the number of winning trades... and look at comissions. If guys in Swift did not have their added liquidity they would be toast. and I pay 4 ticks. 2 ticks comissions and 2 ticks spread. and manage to make money with this. Well, in this format it does look messy and hard to understand. You need to look at the bottom. Left number is net income for 1 day. right side is total comissions paid.
those who understand Forex say it is good. I mean prop firm says it is good. But I am a newbie. I have been trading Forex live for just 1 month. and 1 month demo.