Ferdinand, I've been on this board for 12 years. I HAVE named names. I HAVE gotten guys on ET hired at those firms. I continue to do it. I use to run a regional office for a prop firm in Chicago for 6 years. And many traders from this board traded there. I know the Chicago prop firm community pretty well. I also worked in NY for one of the more notorious prop firms back when there was real money to be made in the business. Not 6 figures a year, but 6 figures a day. It's all about opportunity cost. Let's say you make nothing the first 18 months at Tower Hill. Then let's say the next 18 months you make 30k (of which you get 24k and 6k goes into deferment), then your 4th full year you make 100k (of which you get 80k and 20k gets put into deferment leaving you with 60k. Let's add it up. You made 84k in 4 years or 21k a year. That's 4 full years of work. And this is ASSUMING you were one of the lucky ones who MADE it and actually made money and even pulled in 6 figures your 4th year. That rare feat nets out to 21k a year. I know Chicago school teachers in their 20's making 70k a year with full benefits and a 7 figure pension at retirement. I don't need to give my opinion on this, the math speaks for itself. Good luck.
Yes it is opportunity cost but for a young guy/ gal in their 20s four years is nothing, school teacher you talked about will still be making $70k or so the next 20 years where as Ferdinand here has a chance to make a lot more. All that said I'd NEVER sign with Tower Hill. And those who sign with Tower Hill, if you are comfortable trading single digit stock size, why not trade your own account on IB?
I also know teachers who make more than me. Who cares? I could not possibly be a teacher. I'm not qualified and I'd hate it. And as I've said countless times, Tower Hill is not a path to quick or easy riches. I have done the math and more than math I am painfully aware of what 0 income for over a year really means. Keep hooking people up with rad jobs. I wish I'd gotten one from you!
The search results on elitetrader are pretty archaic. I've typed Maverick before... without a return reply. Let me ask this thread... I'm about to apply to THT... Help me out. I'm located in Chicago. Rather new with prop firms but have traded my whole life. Have a couple strategies I am employing successfully. So now here's the question. Give me 5 firm names that someone like me and everyone else reading can apply to... Mind you, we have no money. No prop firm experience. But a will to succeed, and maybe come with a unique skillset. Go!
So you have been trading a successful strategy your whole life but have no money??? Doesn't add up!! Tower Hill has been talked about on this site numerous times and 99% of it is negative.
I thought an amateur would respond with an unintelligent response like yours I lost everything playing options, now i only trade equities... No doubt I can make more money than a chump like you. Having said that, I've been very disappointed with this forum. Many people ask questions that have probably been asked... yet are impossible to find. If you know the answer, answer the "F"n question. If you can't answer the question then don't waste our "F"n TIME! Retards!
Actually you come off looking like the amateur. First day on the board and calling people retards and chumps. And saying you are a better trader than most but admin that you have no trade management or money management skills. You are what is sad about how this country is going. Everyone wants hand outs. Give me give give me. How about working hard for something. There is a reason that no one can name a firm that will just give money to a trader to lose because they swear they have a successful strategy that they have been paper trading. The reason is it doesn't exist. Get a job....put the money in an account and start small and work your way up to a large account. If you don't have confidence in your strategy why should someone else? How about starting at the bottom and getting a job clerking at a firm in Chicago? Or is that beneath you? Give me give me give me. How is that for advice from a retard?
I would like to chime in here. I would like to know the same thing, but I AM new to trading. I'm 28, and don't really have an official background in trading. I did trade on and off in collage with a 5,000 dollar account. I made enough to buy a macbook pro and a drum set (ugh.) but then I lost. then I tried a few other times. I DO have capital now that I "could" trade with but I don't want to lose it all on my own. I would really like to quit my current job as a real estate broker (That I hate) and start off in a brokerage that will train me how to trade correctly. I know it will take time to learn, that not many people succeed, and that you need to trade to learn most but I think I am prepared. It took me three years to learn the in's and out's of real estate, and I am still learning, so I understand the important of effort and failure to grow, however I'm not sure what firm would hire someone with no "background" in Finance (especially at 28 years old) other than Tower Hill. Finally, I live in Chicago, but I am willing to relocate anywhere I would need to go to succeed at something I am passionate about (but prefer not to move to NYC.) any help would be greatly appreciated
In my opinion, as you have developed sales skills in Real Estates, why not look for a sales related position in the financial service industry ? This would be one step nearer to your goal. All the while improving your trading, and saving up trading capital + living expenses in preparation of going live.
Hmm, that's an interesting idea I never thought about. This is why I love forums! I never really considered that because I am ready to GET OUT of sales, but if it helps me get to my end goal, I would look into it. Then maybe trade for myself on the side as I learn. It would also still give me the opportunity to be around people all day who are trading or investing, which is what want as well.