You're a moron. I tried to stay away from calling you that, but it's all too clear now. If they didn't charge these "training" fees they WOULD be risking their own funds to back a new "trader" which will statistically LOSE money. Again, WHY SHOULD A FIRM TAKE ALL THE RISK BY COVERING YOUR LOSSES BUT SPLITTING PROFITS WITH YOU?
Real prop firms don't take newbies my age. I tried many firms - the only ones that responded turned out to be scams. Well, I will find another way with or without a firm. The only reason am considering a firm is that I don't have to 25k to day trade stocks. I will now focus my energy on getting more precise entries on future trading. One way to get around this 25k PDT requirement. Thanks all. If you think it is a not scam, go for it - and GOOD LUCK!
hippie everyone of your posts is about either bashing prop firms or getting around the 25k day trading minimum. why are you so hellbent on daytrading, just swing trade equities for a while and calm down. its still fun and you can still make money. its like in your head you have daytrading made out to be some magical solution or something.
That's the point. "Real" prop firms don't want kids without a track record, unless they feel they're particularily intelligent enough (based on their interviews, educational background etc). I don't understand why you don't paper-trade and learn as much as you can while you SAVE enough cash, maybe in the 30K range and trade retail? Or educate yourself (and make contacts)so you have a shot in getting into a proper firm that you feel is not a scam? As far as the futures comment, that's certainly a way to get around PDT. Not the best way IMO as you'd probably be severely undercapitalized, but whatever floats your boat. I'm not sure how much capital you do have, but if you think you can be successful by throwing 3K into a futures account and trading the ES successfully, well, you might be in for an unpleasant surprise. Yet another option is joining a firm like Swift or Title (I'm not sure if you can if you're a US resident though), where you won't put up any capital, you get some limited training and you won't risk anything but your unpaid time. I would probably recommend this to most new ppl with no experience, you'll get a lot of screentime and no risk. Payouts are very low, but I wouldn't worry about that if you're a beginner.
I don't want to hold much of anything overnight! Not with my limited capital. Thanks. I guess I was frustrated with the the scams I run across. I am a newbie. I am learning the game late in life - after my old work has been off-shored. I am spending my time paper trading and learning. Thanks all.
Instead of posting the same questions over and over, read other forums/blogs, you are wearing us out here, and it's not just me.
Go for it, if u had given such firms many thousands and now making a living trading for the firm as a result. Good for u! My sense is that you may be working for such a firm as a marketer, not as a trader!