Chill out. What legal advice did I give? I don't think advising him to hire an attorney is giving legal advice.
Agree. And in fact in this case, I think he should have an attorney to review and amend this onerous contract.
That comment on glassdoor and a few similar comments in other threads have me spooked. I don't think it's the right fit for me but I wish you the best of luck.
I would take the TopStep Trader combine. To hell with tower hill., Or do you not have any plan in place at all? If not, I suggest trying to develop some sort of plan and then practicing on a SIM before you do the topstep combines.
yep, the problem is options these days are really limited for finding someone to train a newb from scratch with no deposit. I'm in the process of teaching myself but if I get distracted again, I'll just pony up a deposit with a more respected firm. As far as getting a lawyer, it's probably more cost effective to just sign with a different firm that requires a $5-10k deposit, but that has a more reasonable contract.
There are other free training resources available eg Trading Pub, you don't need to mortgage your future...
Yeah I looked into TopStep. I'm a ways away from taking the combines. I think their initial training program costs ~$1.5k.
You guys are over reacting, I have been trading for 10 years, I have signed many contracts with prop firms, that THT contract is only enforced when its worth their time & money to do so. So if you walk in as a bad ass and make a substantial amount of money then try to leave, it will be worth it to pursue you. But most of you are not gonna be that person. The barrier to entry is difficult enough with trading, I would take what you can get even if its just to get your foot in the door for some practice. who cares if its 1 to 10 shares, if you can do it with 1 share you can do with 100 shares. As long as you are moving forward and developing your career. If you are scared of signing that contract you must be a real bad ass trader!