That is definately a possibility. It would be nice to think otherwise but wallstreet is really full of sharks. Michael
As a swift trader this just makes me laugh. In the time it took me, and everyone else that i have seen in our branch, to get to a point where i made money, i could have made thousands at a regular part time job. Not to mention lots of schools offer co op for higher paying jobs, and scholarships, bursaries, and many other forms of funding for paying for your education. The question is then, why would anyone spend months becoming a profitable trader (100-300 net per day, which is 30-100 payout), when they could spend those hours acheiving higher grades and working part time? There is nothing wrong with swift i think they are clear in what they offer, but either go to school or learn to trade. Trading as i see it so far trading takes screen time and research, and school needs to be focused on to do well. For the love of god people do not half ass school AND half ass trading, you would be a retard! Get your priorities straight and focus hard on #1 trader or school or otherwise!
Swift trade smells so bad. They're like a tabbaco company marketing to children, but far worse. The "I Traded 1 Million Shares of Microsoft Stock Today" advertising slogan, the operations in extremely poor countries, marketing to children. It all smells so bad.
I should have added to my post that although i tried to outline why it is a bad idea for a college student to take this 'oppourtunity' i am fairly sure that lots will, and i would assume they will make money(the company). I agree with the above poster as well though, preying on the innocent and naive is ethically wrong, but what else is new with society.....
I made over $100K trading equities in my last year at college with only $18K in principal. I was able to get a 3.7 gpa as well. Then i made some choices, mortgaged my life and relationships, and progressed into a spiral of events trading in equities for the last 8 years or so. It took a great deal of effort and money so if you plan to do this for a living have a decent degree in case you fail miserably one too many times. I do regret when i left college the business school then decided to open a market trading outfit that i know had i had the opportunity of joining would have been a big positive for me and them. Study hard and get good grades. The business of trading will spit out even the most seasoned individuals. Interesting posts.
It's probably worth pointing out that many students (such as myself) need to balance university and a busy work schedule. I may not have a 4.0 GPA, but I do have an excellent resume with work experience that is relevant to my major, so I'm not terribly worried about finding work once I'm done school. As for the Swift trade bit, I would bet that it would generate quite a few nibbles from business students in particular. Can't comment much beyond that...
This is an exercise in futility from the start: trading is a full-time, full contact sport. Anyone believing in this part-time bs is only fooling themselves.
I agree with maniactrader. Trading is a full-time commitment. If your not fully committed for the next 2 years and beyond... forgettaboutit.
============= Gut instinct/ stats suggest they wont be near as sucessful as turtles; nor do the principals sound as skilled as Rich Dennis. But with thier capital,and its a bull market you know, why not , especially since a teenager/adult should be starting to see if he/she wants to work for someone else. College may teach yoiu to work for someone else. Never did consider it relevant that 80% small businesses fail; simply studied 20% that made it.