they all provide extensive training consisting of a multi layer program: 1. Brainwashing you about how much $$$$$ their traders make and how you can be just like that if you trade well. 2. Explaining to you that trading well means practice, practice, practice, so you should make A LOT of trades every day, regardless of your P&L. 3. Pushing you to trade more when you slow down after your account is down 50%, explaining that all their best traders showed no fear when they lost, and now they make millions. 4. Once your account approaches zero they kick you out and replace the resource (i.e. - get another sucker with a fresh account). Good luck with your training! disclaimer: this did not happen to me, because i was smart to open my eyes when my account was down only 10%. however i saw the story repeat for most of the traders in the office. now i trade privately and no complaints there. PS moderator - i find my post extremely relevant to the thread. i am sure the guy who started it isn't interested only in WHO provides the best training, but is also interested in opinions about the -quality- of training provided by prop firms, and whether this training will benifit him, or perhaps burry his account instead. 50
I can't agree more. There are way too many "traders" out there not taking advantage of Prop Firms and there are just as many who have no business trading with a firm.
I happen to agree with Enzo.... Prop firms promise leverage because they want you to generate commission. Try sitting there for a few days and tell them you are picking your spots. LOL, you will be gone within minutes. [EDIT BY MAGNA:] Guys, this is the last post on the "worthiness" of Prop firms. The thread is about who has the best training. Stay on-topic and if you want to discuss the value of the Prop firm model and the techniques they use to generate money then please start your own thread. Thanks.
http://www.firstnewyorksecurities.com/trading.htm 50k a year while training, so the site says. Anybody have anything on them? HLVtrading.com someone mentioned earlier, however I spoke w/ a guy earlier who wouldn't "say anything specific about them, but..." thought they were shady somehow. ? Avidustrading.com - anybody? tradexgroup.com ? they're in my favorite city of Boston, but require 10k down. -K