I wrote that. if you think these agencies aren't as corrupt as they come, you have a lot more to worry about. They don't give a shit. call the SEC or FINRA and ask about it, they say "ask the firm their policies".... Regulatory agencies who have the primary goal of "ensuring institutional solvency" and not protecting fair access to the market is not anyone I would take too seriously. Of course, you can take the extra precautions, but please be aware that MOST regulations are not put in place to protect customers. it's all smoke & mirrors. The members with the most % of funding of the organizations have control over the policies, which is why you see the regulatory nightmare we have now pushed at protecting the big banks and killing the small firms. Yes, nobody does everything 100% by the books (a lot of the rules don't even have real definitions) .., there;s a reason 100's are camping out right in front of the finra building and it's not because they love the job they've been doing.
Anyways, I reiterated it for you. These are my concerns. I think they all are legitimate questions to ask. I am not sure what they mean, even if they are all true. Maybe they're just on the wrong track business model wise. Either way, I would appreciate not getting killed for asking good, tough questions on these issues. I would also appreciate good feedback. If we can get some answers, there will be no need to speculate. Thanks for reading through the email. [/B][/QUOTE] Holy wall of text dude, anyway i'm going to try to answer a few of those questions since i have been trading downtown for awhile and know about the various firms. I actually used to trade down the hall from CTG and visit them frequently, the guys there are legit ... and good guys, the reason they have an international symbol on there webpage is because they are a subgroup of several different firms, by the way you can figure this out by doing what someone earlier mentioned (ACTUALLY CALLING THE FIRMS). I am assuming that what WTS does it just to pull in extra business, maybe they don't have time to solicit/advertise for new traders so they just have subs do the work. As for deposits you get so much BP its a joke, you can probably make up your deposit in the first withdrawl and as for the buying power you don't need much to make a lot of money especially when scalping, i personally made over 40k with less then 100k buying power in august, not 400k. Even if the firm were to blow up you lose what 2-3k? but you get to use 100k buying power, thats worst case if it were an element trading or something like that, which WTS is too big to pull that kind of shit anyway, they do something like 4billion shares a month. Anyway i've been at several desks and most traders just FAIL its a high turnover business and its going to happen anyway its not WTS's fault, some people don't want to hear this but its 70% you 30% training, i too wanted to be magically "taught" how to be a good trader but its really something you need to develop in your own brain, some style that fits your personality, i tried trading many different styles (swing, intraday trends, parabolic, etc) and scalping is the only one that fits my aggressive, high energy personality which i know is the complete opposite for some people, if you think its your style its probably a good course for you but it will still probably take you a year + to get good and most of your class will probably fail, just a fact of the business.
[/B][/QUOTE] Holy wall of text dude, anyway i'm going to try to answer a few of those questions since i have been trading downtown for awhile and know about the various firms. I actually used to trade down the hall from CTG and visit them frequently, the guys there are legit ... and good guys, the reason they have an international symbol on there webpage is because they are a subgroup of several different firms, by the way you can figure this out by doing what someone earlier mentioned (ACTUALLY CALLING THE FIRMS). I am assuming that what WTS does it just to pull in extra business, maybe they don't have time to solicit/advertise for new traders so they just have subs do the work. As for deposits you get so much BP its a joke, you can probably make up your deposit in the first withdrawl and as for the buying power you don't need much to make a lot of money especially when scalping, i personally made over 40k with less then 100k buying power in august, not 400k. Even if the firm were to blow up you lose what 2-3k? but you get to use 100k buying power, thats worst case if it were an element trading or something like that, which WTS is too big to pull that kind of shit anyway, they do something like 4billion shares a month. Anyway i've been at several desks and most traders just FAIL its a high turnover business and its going to happen anyway its not WTS's fault, some people don't want to hear this but its 70% you 30% training, i too wanted to be magically "taught" how to be a good trader but its really something you need to develop in your own brain, some style that fits your personality, i tried trading many different styles (swing, intraday trends, parabolic, etc) and scalping is the only one that fits my aggressive, high energy personality which i know is the complete opposite for some people, if you think its your style its probably a good course for you but it will still probably take you a year + to get good and most of your class will probably fail, just a fact of the business. [/B][/QUOTE] ======================== this is def one of the truest posts so far on WTS. I just went through their 'training'... and yes it is not 'training'. they just teach u how to use the platform 'in my case, fusion' and they teach u the basics on scalping. WTS is not there to teach u a full proof method that you were get from top firms. It is alot of doing homework, studying, and trading your own principles. as for the person im quoting, I can't seem to get comfortable with scalping. You got any recommendations for articles or videos? Im more of momentum/position trading. Scalping and getting executed on routes is so hard to grasp.
"this is def one of the truest posts so far on WTS. I just went through their 'training'... and yes it is not 'training'. they just teach u how to use the platform 'in my case, fusion' and they teach u the basics on scalping. WTS is not there to teach u a full proof method that you were get from top firms. It is alot of doing homework, studying, and trading your own principles. as for the person im quoting, I can't seem to get comfortable with scalping. You got any recommendations for articles or videos? Im more of momentum/position trading. Scalping and getting executed on routes is so hard to grasp." I have never personally been through WTS training, but i'm sure there are "levels" where you trade a certain amount of shares and slowly increase that amount when your making consistant profits, the reason for this is so you can really build a "feel" for the market, based on the groundwork of technical analsys of course (trend/market/pattern) all three and your golden combined with your feel = profits. I can only give you pointers on scalping/getting executed because that is all i do, the key to really getting filled is using the ALGO routes, that is where you get the good fills, the rest of the ECNs fill up too fast, think about it, you can't beat a computer getting on ARCA or INET or really any ECNs, its all about buying stock on the "hard levels" and offering it out on bats on the "soft levels". Its too bad C isn't around anymore to train on, was a very consistant stock as someone mentioned, BAC and F are a little tougher.
^^^ yea they had use training on BAC. as for your routes, do you rely on rebates at all? Or do u just see them as "if it happens, it happens". Wts pushes hard for us to learn about routes and getting rebates.
So by 'scalping' do you mean trading stocks under 10 bucks? You guys realize that strategy won't get 99.9% of you making money above the poverty line? And even if you have a good month because Ford is in play (until it reverse splits), then wake up because the strategy and your earnings aren't sustainable. (Not to mention you probably want to kill yourself watching that thing tick all day.) If you are getting trained on routes and rebates etc as opposed to how to find stocks that are moving, instead of learning how to buy stocks and sell stocks that don't have 200,000 shares at each level and actually move and potential for your PNL, you should reconsider. You are signing up to learn a gimmick, poisoning your resume, and losing a time of your life where you could be either learning something useful, or, alternatively, having fun. A thought - look around when you are at work. If there are any traders around, ask when the traders doing that strategy started? 10 bucks you won't find anyone around longer than a year. Ask them how much money they make. Another 10 bucks its an ugly answer. So don't bother wasting your time. Go teach English in Korea or something or take your LSATs. It sure as hell isn't a job, and you have no shot at survival in NY, Chicago or any other , so don't waste your time.
LOL People always said you were insane but now I def know ur are a true hater. If u read any of my previous posts, I said that scalping is a tough way to make a living. Scalping is NOT trading under 10$ stocks, so now i kno u def dont know anything about trading. scalping is entering and exiting stocks for small ticks like a penny or two in high positions.... anyways... yes any sensible person knows that scalping is not a way to make alot of money, but WTS uses that method to teach the traders how to use the platform. then after learning the platform, it is up to the trader to do his own research and tech analysis to trade... WTS is not in the business of training traders to become millionaires. they provide a day trading service u can use if u have less than 25K, thats it. so stop bashing them cuz they dont advertise themsevles as a trading firm for massive training ground up. they give u a small crash course then its on you.
Uhhh, I was quoting YOU saying they trained on BAC. Last year or so I looked BAC was under 10 bucks. I know what Scalping is, and maybe you do or not. What WTS teaches is rebate trading, and you may as well save your money instead of trying that punishing and futile exercise. By the way, I'm insane now? I pointed out some shortcomings on the publicly available balance sheet, and brought up good questions about their structure. the people who are insane are the people who don't ask the questions I've brought up. And there is a contingency fighting with me, but they aren't saying I'm wrong. They just tell me to go away. That leads me to believe they're hiding something (like that they are affiliated with WTS or one of its 6 or more subgroups). Caveat Emptor when going with WTS (or other prop firms you haven't dug hard into).