indeed... Perhaps it's all necessary to come to the conclusion that he's more an investor than a trader.
Maybe not according to them, but it is a scam. The only ppl making money is the prop firm. Sure a handfull may do well for short period of time. A loss is closed out at the end of the day with the traders seed money or when the loss reaches the traders seed amount, whichever comes first. Limited risk for the firm.
You here have seriously placed my name out of context. You made that reply with a quote look like I was the one that typed that blurb under my name. That is total manipulation. For shame.
Here is a short list of equity prop trading firms that are relevant to most traders on this forum: Avatar Securities Bright Trading Chimera Securities Great Point Capital (not sure of their status after XIV, I heard it was pretty bad) Kershner Trading Group Seven Points Capital T3 Some are better than others. Do your own DD.
Thank you very much for the list. I briefed through the first three, and all seem legit, as they do not require capital outlay to "train". Will continue to research these guys.
https://www.greatpointcapital.com/prop-trading-firm/ Member Finra a simple explanation of 2 Types of Prop firms, "as they do not require capital outlay to "train or Test your skills". everything else is "pretend prop" or whatever you call it !
I did the stats some time ago and posted them on here, TST have 90% failure rate for sonething like $2k in fees per trader. Look, remote doesn't work, we were considering setting up a training academy. The top prop firms are more like institutions, the entry process is no different, if it's simple then it's probably wrong. The core stat is 3days make on average 95% of all yearly gains, and scales down to 1hr, 1mn charts, it's either learning the patience to time exactly or buy and hold knowing if you get the wrong side of entry you take a loss, that's the learning curve.
ON THE NEGATIVE SIDE They do it because they can; PEOPLE PAY. Shopping networks destroy compulsive shoppers and prop firms scamming profit from wanna bees. Day trade the ES, YM, NQ and any of the other day margin rate contracts and you need $500 per contract. If you are profitable, you will scale in no time. So, a profitable trader should never go to a prop firm and share what is rightfully his. Cannot come up with 2k then why are you here. I saw one boast 89 traders funded this year. How many hundreds or thousands did this for how many hundreds of thousands.? They give you the allure, 5k bonus, which is not 5k. Whatever the split deal is what you actually windfall (50-50 split means 2500 was yours anyhow). I won $7500.00 years ago shooting pool on a bar table and I am not that good at pool. The other guy was my equal in ability. I beat him 15 in a row until he was busted. I shot my mouth off that I would spot him 4 balls a game. He broke as losers do. After he was done braking, I pocketed 4 of his balls. My choice was the ones that were in his way or mine. I decided to remove the balls that were in my way and VOILA. What a sucker! Prop firms that you pay in advance for consideration are looking for you, a sucker/dreamer. Dreamers will never have the cash necessary to risk here but the can come up with 200, 400, 699 a month. In the rare case that you can be successful trading and have zero success in life, meaning you have no cash, then this is for you. For all others, just leave some cash with Baron for me and I'll consider backing you. Just jump through hoops and pay dearly and I'll come running. The paper traders all over this sight are obviously the potential for any sponsor selling trading goods. After enmeshing myself here, they are in the right place. I don't have to tell anyone that. ON THE POSITIVE SIDE Do as you agree and they will do as they agree. Don't blame them if your deal sucks(you're a sucker). Blame the guy in mirror. If you are a sucker, this is the cheap way out. Playing in a game you do not belong in is extremely expensive. Way more than you pay these guys. That's important to know. You blame a fat finger all you want in ET, no fat fingers in real trading. They are money losses. MY EXPERIENCE WITH A PROP FIRM NOT A SPONSOR HEAR (I do not know about anyone here) I did the free trial and blew it away. Small daily profits, based on 2 contracts per trade, to 12% in the given time frame and the required was 10%. No real draw down or run up to speak of. Consistent profits through and through. Took me 3 free trials with different email addresses to land the exact results I was looking for. Got an email I was ready to start the paid trial. I told the guy that he knows my results and if anyone there wanted to back me I was ready. Still waiting for the call. This place was not interested in a slow and steady rise to profit? They wanted to see it again or needed my fee? If I was to go prop, the second I was able to fund my own account, boom, see ya prop company. I remember somewhere, maybe the other sight, a chick posted that she prop traded and had a personal account. ????????????? Prop is only for profiteers. Personal accounts are for independent traders, so, I'll prop trade all day with their money because I am successful and want them to share my success with the prop firm and I'll personally trade and keep 100%, but that is limited to the time I have left after I trade and share with a prop firm. This chick is a liar unless she is stupid or magnanimous. My final thought is that these firms are legitimate and they will do as they say if you do as they ask. Sometimes, a delusional person can be awakened by a severe stimulus. Ego depletion is short with these contests and right to the point. If you are too delusional then getting this far is a real accomplishment. I've discussed with some of these people right here. Be successful and never look back. That's an option also. Hope it is your results as well. EX