Trader pays.....001....no mins..... Trader puts up $1000 to $5000 tuition... Trader practices...via simulation..then small lots.... Trader uses $50,000 buying power...then $100,000... Trader takes 85% profits...firm 15%.... Love it....hate it ?????
He-he, you need to tell the traders that they're trading live, but in fact it is an elaborate simulation. THEN you can test their psyche and move on to trading live.
V, Just want to know, if those rates will be signed into a contract so that in a month or so time, the rates does not jump. Also, would like to know about the firm's privacy clause with respect to sharing what and how traders trade at the firm. I hate to look at the negatives, but in this industry you have to protect yourself. Thanks, Patrick Q
The business model is moreless a talent filter...who's payout is similar to a hedge fund... There are no real barriers to entry...it is just that most firms of size would rather sell the "picks and shovels"...and will try to block this model to protect their models... Will post more info as this possibility evolves...There is always a chance it may not happen for some unforseen reason.... Thank you for the feedback...
The profits are shared 85 % to the trader...15% to the company...afterall why would anybody want to be trading if they were not profitable... The company would be continually looking for people that have potential...and need what the company has to offer... The training is accomplished daily by intraday examples whose daily blotters are posted..reasons given for why the trades were taken... Naturally the lead trader is consistently profitable...whereas the developing trader is learning via simulation and small lots... The business model does not front end the client...like all of the other brokerage models.... This is a brokerage/hedge fund hybrid....whereby you are working for the company....