T3 Trading Group

Discussion in 'Educational Resources' started by frank7, Jul 21, 2020.

  1. El Trado

    El Trado

    There seems to be two ways of making money in finance these days
    1) Be a good trader, or
    2) Charge gullible idiots for learning them «how to trade»

    My guess is that those two groups are totally isolated from eachother. The people that are succesful at trading would never bother about ever associate themselves with the «scammers». And the idiots paying for being scammed are to dumb to ever become successflu traders anyways.

    But, both groups can make money. However, in the latter, only if you are a cynic and sell the course. Never if you are a buyer
     
    #11     Jul 22, 2020
    comagnum likes this.
  2. smallfil

    smallfil

    This the problem with most new traders, they want something for nothing. They want to make a million dollars overnight. No doubt pumped into their heads by disinformation and lies, from CNBC, Bloomberg, ET trolls, they believe the hype. Add to that snake oil salesmen inducing you to attend their seminars for about $3,000 a pop but, that is the basic course, before you know it, they have spent $20,000-$30,000 in monies they could have funded their own trading account. The so called gurus pumps the interest by showing wads of cash, beautiful women and mansions and their lamborghini's they say trading gave them. It is all hype guys, as they take your hard earned cash and give you a trading education you can probably, get from You Tube and the internet for free? When I started learning to trade, I spent thousands no less on books, DVDs, seminars. Complete waste of monies and capital. That information nowadays is FREE on You Tube and the internet. Just roll up your sleeves and start working.
     
    #12     Jul 22, 2020
  3. snowman80

    snowman80

    back in 2005 i spent some time at a similar arcade in nyc - Dimension which i think was bought out by T3

    they are not in the trading business per se. meaning their revenues are 99% fees, not profit share

    they provide encouragement, appearance of a professional trading floor, some coaching, some instruction, camaraderie, brokerage services, leverage etc etc

    they live off of fees billed to your account - which you fund with your own money of course

    if that's what you are looking for, go for it...
     
    #13     Jul 22, 2020
    comagnum and frank7 like this.
  4. Stockboy

    Stockboy

    Youre welcome Frank, and I think from what youve told me so far about yourself and specifically this idea, I think it sounds great in theory. But I would like to have an exercise from a devils advocate perspective, to make sure we are still connected with reality.

    I have and somewhat am flirting with the idea of going prop myself, so I have done a little bit of homework. So from my understanding,(I could be very wrong so please do your own homework), there are very few "prop shops" left, with the passage of the Volcker Rule in 2009 (again from my understanding), the big household name banks are no longer allowed to run daytrading operations, really I dont think it matters as much to me personally as most would probably only hire math-nerds with degrees from MIT in 2020, and most of the MIT math-nerds would probably be willing to **** a **** just to get an internship at a GS or JPM or DeutscheBank. From my homework Ive discovered many of the firms that are still active in daytrading operations (ie JaneStreet, etc) are also looking for MIT math-nerds or "quants" as they like to call it. With that said ...

    So lets imagine,you are the "head trader" at a branch location of a trading-firm. (also, we must acknowledge that for what ever reason, although you have the title of "head trader" your superiors also feel it necessary for you to answer phone calls from random anyones asking questions, this could be possible I guess? as maybe you are the best person to vet these phone calls? it just seems strange to me that your superiors would want you to waste time on this task when you could be, trading???.

    Ok so now you are officially the "head trader" at such & such trading-house office located in somewhere. You have roughly 17 traders at your firm, only half have been there over a year. Out of these 17 traders, 10 are losers who have only been there less than a year and cry everyday about everything and are slowly wiping away their college fund to pursue "trading". They constantly annoy and bother the other 7 traders with their negative energy and constant entitlement. Of these 7 traders that arent complete losers, you only have 3 of which that have been in the game a while, and are what most would consider very successful. These traders dont really NEED your firm, they could literally go retail and do just fine, they could also be working remotely with your firm and do just fine. Are you going to ask these traders to "mentor" or "guide" the fresh new guy off the street with $50 bucks in his pocket and dream? And than again when the new guy with $50 bucks and dream comes in next week? And than again when the new guy with $50 bucks comes in and his dream?

    So my question is basically, why should anyone give you the time of day exactly? A prop firm is a business establishment, they are established to make profits, it is not a jobs program or a free education. I believe first you should do the math and see if being a professional and having to pay professional fees(data, software,...) with commissions first of all, makes sense for you.

    If whatever firm you are vetting reopens after Covid, go and check out the trading floor, try and meet the traders, BE POLITE, FRIENDLY, KISS AS MUCH *** AS POSSIBLE, because aint nobody gotta give you the time of day. You might get lucky AF and meet some great traders that like you and offer their advice, DONT EXPECT ANYTHING. Try and also avoid the losers, anywhere you go on this planet there will be losers, as youve mentioned in your post, if you want to be successful you need to surround yourself with positive people but also avoid the negative miserable ****s.

    Ive briefly read the comments, and from what I am understanding you are looking at a trading firm and not a trading education, so I will not comment on the trading education aspect of other posts.

    Best of Luck
     
    #14     Jul 22, 2020
    spudpei, ValeryN, comagnum and 2 others like this.
  5. frank7

    frank7

    Thank you for your advice kind sir.
     
    #15     Jul 22, 2020
    Stockboy likes this.
  6. Dazz

    Dazz

    Here is a comment from https://www.tradingschools.org/reviews/t3-trading-group/comment-page-1/#comments.

    Eugene
    Also another thing, T3 has tons of hidden fees, that will make you go broke in short time. Here is just one of the things. If you have an outside account with any other brokerage firm, you are forced to disclose all those accounts…WHY ?? what does that have to do with trading with t3. but they force you to declare

    And here is another thing, they charge a monthly fee for having outside accounts WTF…then they have tons of other fees. I saw a video on youtube which goes over all T3 hidden fees, I will try and find the link to post here soon
     
    #16     Jul 22, 2020
    Math_Wiz and frank7 like this.
  7. frank7

    frank7

    That is ridiculous. Basically a system that is built for the dealer to win.
    Thanks for your find.
     
    #17     Jul 22, 2020
  8. hafez50

    hafez50

    I was a member of t-3's virtual trading floor back in 2008-2010. They had 8 or so guys you could listen into and there the stocks they were in showed up under each trader. You never knew how many shares nor if they were scaling in or out . T-s been around for 14 yrs or so. I'm pretty certain marc Sperling is one of the better traders out there . I always thought scott redler was a lot of after the fact . I just used as trading can be lonely. Its nice having 8 sets of eyes watching the mkt but i really got little out of it. Lets be honest. If these guys were all making 7 fig's why screw with educational? Because there not and providing the pic's and axe's pays a lot more than mining the gold( trading). The moneys in giving people a dream .
     
    #18     Jul 22, 2020
    Stockboy, comagnum and frank7 like this.
  9. qlai

    qlai

    I believe it’s compliance requirement.
     
    #19     Jul 22, 2020
    frank7 likes this.
  10. frank7

    frank7

    Which is understandable. But why charge traders fees for having an outside account instead of just not allowing them to join the team? Ohhh i forgot....this is how they make their revenues and they need to somehow offset their poor trading performance.
     
    #20     Jul 22, 2020
    Dazz likes this.