Look, it's quite simple really. If a person is able to trade the financial markets yielding a profit each and every month that must surely be of interest to any company that has potentially open doors to higher gains. If you look at the opening of my email to TC Markets! I responded to an add from TC Markets. They were advertisng for prop traders? He pointed me to the website? That alone is a bit odd? The first and most significant step forward is to look at the persons ability (e.g Profit/loss sheets). That has to be the first step. The second step would be a/c statements, then get the person in, and yes, let them "dick" around on a sim. Highly unlikely that any prop trader would be allowed to go straight to 50/100 lots - so don't know why you would say that? My concern? Well, think about it. You would be hard put to cover costs and make money for yourself and your costs trading 1 lot at TCA Markets each month? I pay is $600 a month for TT's X Trader. Plus R/T of course. They are asking too much in my opinion considering they were advertising for prop traders! My opinion sticks - sorry if it makes you want to be contemptuous towards my post!
HI I haven't posted for ages here and what do I see? TCA markets! I think - but I am not sure - that TCA markets=TCA futureS = TCA financial Ltd = thetradersclearingalliance. Many names, many identities : nothing to hide? For people to voice their concerns about a company ... means that you have to look VERY hard and have your own solicitor whenever you want to do business with them. In Britain, some companies - actually very few of them - do ask you to pay them for the privilege of trading with them - any lots. In Britain, some companies - actually very few of them- make money out of the fees and "traders" turnover. These rare companies do not make their turnover from market trading profits, so the more traders they get through the door, the more money they make. Some rare companies do quit Britain ( or London as pointed out) when they are well known for "looking for fees". Some very rare companies do ask for your personal details and without you knowing might go and take a loan on your behalf : I finally did manage to understand why some very rare companies ask for personal information - BUT- refuse to say or are very vague when asked at the start what they intend to do with such information. I know of some £20k-£50k ( $30K-$60K) loans taken by some very rare companies in Britain, but of course on the trader's name. The lucky trader is then allowed to trade bigger lots with this borrowed money. These very rare companies do indeed back their traders I remember being given the above advices : questions to ask. To these, I would add : whenever you are asked to provide information, do remember, some very rare companies in Britain, will use this information and might even fake your signature to "facilitate" a loan for you. Who likes being loaded with debts? To finish, I am opening a remote trader training program. If you are willing to put in some money ( $1000, $2000,...) or even a monthly fee, I will allow you to trade remotely for me. You will of course start with 1 lot, may be 10 lots. Whenever, I will have managed to get a loan on your behalf, you'll trade as many lots as you want and we'll share 50/50. When the money is finished, you will of course have to leave : who likes losers?
if you were talking about stocks, maybe. When it comes to futures, you could not be more wrong about this assumption. Its not the same as it was 5 years ago. Just read the thread below http://www.elitetrader.com/vb/showthread.php?s=&threadid=150296
My offer is serious : I will back you with a loan on your name ( and a starter fee) to trade 50 lots.
It is not an assumption! I have made contact with a few big companies, well known names, profitable traders etc. The first message I get is "send your PnL sheets" My yearly revenues are just not high enough to meet the criteria of these larger companies.
1) How much do (did) you make PER DAY, AFTER FEES? 2) How much are (were) your fees , per contract (exclusive of TT, data, etc. ie, strictly trading-related commisions, exchange fees+ clearing fees) PM me if you are not comfortable discussing it on the forum. 3) What are the names of the "big companies" you are referring to?
Thanks for your note. I was looking around last summer and have since managed to gain control of more capital for my own trading. The problem for me was that (and still is) my trading is not in the same league as the companies that sometimes look for traders. My assumpütion was that a profitable trader might get access to bigger things on aproven track record. FYI here are just some of the companies that I made contact with Global Exchange Trading Heron Futures Schneider group Saxon Financials First New York Securities LLC Tudor Investments RBS Commerzbank Morgan Stanley JP Morgan Goldman Sachs
I started with TCA and it was tedious trading on the sim at first, but once I started to build up an account balance it was fine. The mentoring is great and best of all the risk is all theirs!