I'm very interested in T3 Trading and have heard nothing but good things about their training program, but has anyone ever been through it? Just looking for some insight before I apply to them. Thanks.
t3 is a rip off. they charge 10k for training that other firms teach for free to their members. I would advise you to stay away from t3. it's all marketing hype and you will be disappointed if you gave them your money. Try a firm like Bright Trading or Capital Traders Group that offer free education for members. The clearing rates at t3 will be an arm and a leg compared to the 25-30 cents per 1k shares you can get elsewhere for a scalping program.
it's not a deposit. it's a "training fee" even if it were, when I contacted t3 they gave me a quote of something like $8 per 1k shares, even with good volume. They overcharge customers and dump the money into online videos and stuff. If you want the hype, join t3. if you want to save money you can find similar programs for $1500 deposits and less than 50 cents per 1k clearing all around.
I correct myself, the basic training starts at 3k (the 10 is for the advanced program) but that is not for trading capital. it is only for classes.
No, I'm being serious. I think the 10k training fee is just the deposit. No different then SMB right? I mean you could just give T3 10k to trade there and not take the training right?
It's not maverick. They way they set it up is you pay 10k for training and then they decide the stop loss for you. It's not like you have all of your 10k to trade with in equity. The equity is probably set to 0 and once you lose a portion of that, you deposit more. THe last time I spoke to them was a year ago, but I got the sad excuse "we offer more to our traders than any other firm", which simply isn't true. they offer more hype and spend on videos to attract n00bs telling them it's a career and a job path, which is false. A trading account is a trading account, not a job, not a career, not a path to prosperity and fortune.
OK, well then that's not good. I think they should be up front about "exactly" how much of that money a trader can lose. Not sure how they get away with that.
John, you should go over to T3's website and glance over some of their videos it all looks like good stuff to me. Vaguely similar to Alot of the stuff that I've heard from another source . From what I see T3 is the a firm with some top notch traders(Redler, Sperling) who you put everything upfront and they make good money. They seem to be very open too with posting up positions and pnl everyday to lead by example. I don't know about the specifics of the operation but the guys that run the operation seem to be very good at what they do.
Stop! Don't join any firm or pay for any training unless you can see real results from their traders. You need to ask yourself very critical questions before paying money. 1. Ask for track record/results that can be verified by an independent source. Find out if the results were hypothetical, real money, real time, etc. There is a big difference between a track record posted on a vendor website vs one that can be checked. If the results are hypothetical then make sure they are audited from a site like C2 versus just what the vendor said! Either way, I would want to see at least 1 year of results. 2. Do a deeper analysis on the track record. Determine if you meet capital requirements and what type of risks were taken to achieve the returns. 3. Check for alignment with trading goals/style 4. Speak to past students if they exist of training. 3k-5k is reasonable for training. I wouldn't offer training for less then around 3k myself but you need realistic expectations. If you only have 10k and they are going to take that and rebate your trading, then that's a bad deal. I would not do any sort of rebate deal, at all. You want training, pay for training but paying someone to give you your own money to trade doesn't make any sense. If they are claiming that you can trade for a living with 10k then they are full of it. I wouldn't even consider them if they made such a claim. As for daily loss limits, you will need at least 1k per day of risk limit and probably 2x-3x that to be able to make a living. Any daily loss limit that is less then 1k should not even be considered. As a rule of thumb you should look at trying to make 20% to 30% of the loss limit, net. So, if I had 1k loss limit per day then my goal would be around $200-$300 per day.