I just re-read your PM: When did u switch from Keystone to T3? BartS When did u switch from Keystone to T3? BartS When did u switch from Keystone to T3? BartS When did u switch from Keystone to T3?
I never switched from keystone to T3. T3 was one of the online rooms I tried while searching for a way to learn the ins and outs.I did get a free trial to their online room and really liked it, but paying $200 plus per month to trade a paper account closely meets the definition of insanity...lol I'll even give you the pros and cons for the T3 room: Pros: one guy makes a killing, trades big size and consistently has huge winning days.I've seen him have a few days over $100K.He calls his trades live. They have a daily game plan that is right on. They have great technical analysis and stocks in play on an almost dailybasis - they called the 30 point move in POT and more recently the run in AIG, the morning before the market opened. They are not always right but if you follow their plays you will make money. Cons: They have one (a few) of their traders that you can hear that has emotional issues.I have heard the guy cursing, banging on his keyboard and begging a stock to go up.I'm assuming this is not the big trader...lol Also, this is all great, but at least in my case I am more interested in learning how to trade properly, and not how to take tips, and shadow somebody else's trades - I like my own ideas, and I love to make them work... I think this is the main point: I'm interested in learning, because once i do I will have the skills for life.Mimicking what another trader does will make you money but is in itself counterproductive and downright lazy, although this is the path many take. WinItAll, I know you have an issue with the "shit stocks" they were trading, but I think we're beating a dead horse here.Why would you expect them to show new traders how to trade GS,Bidu or CME????It's one trade, a fumble on the keys and you're down 100-200 ticks...The emphasis is on learning, and once you're consistent you get access to those stocks and more BP... I mentioned two other services earlier on - they were not consistent and although they had a few good streaks, they also had horrible streaks. I just started with keystone this month and I like what I've learned. I have to work harder on my discipline, because I have caught myself trading in disagreement with their system and my p&l proved the firm right and me wrong.Thank god I have sound money management and only took a minimal loss today. Anyway, time to go to bed, have to be up early (I'm in chicago) to work on a few trades for tomorrow. Good night hippie.
*******Most must be Scams****** Don't fall for slick marketing, market "calls" without seeing real P/L, and people who have DECIDED that it is better worth their time to sell education than IMPLEMENT their great systems. I've know personally many "gurus" that really are frauds and rely on educational money to continue. Call them out. Ask to see P/L's. I'm pretty sure you will never get to see it. Calling out trades is really like SIM, anyone makes money doing it. Save your money, quit all the chat crap, forget all the "education" because it is likely just going to be a huge waste of time. Since the markets are dynamic, any system will likely fail in the long term. They are so "matter-of-fact" on how the market must respond, don't fall for their public speaking. Luckily I knew these gurus before I ever traded. I just want to save one person from falling for this scam. I can't wait until they sell you books. lol
The downside of all of this is that if you take a Training course you probably only get a 50/50 profit split, which is terrible for a beginner. The only time that you should be willing to give something like that up is if you're trading somewhere like first new york and they're bank rolling you with a 20 million dollar line. Taking 50% from a guy who just starts out trading makes it extremely difficult. I firmly stand by my belief that you should NEVER EVER PAY FOR TRAINING ANYWHERE. You should only put down money when it is counted as a risk deposit or initial deposit, any other type of capital you pay.... no matter what the firm says, you can be fired at anytime and lose it. If you're going to be trading your own money you should be taking atleast 90% home, for non-licensed guys the only legal way to trade prop is that the firm has to take a small piece, and to have your money credited in your account. If you go to a Keystone, Velez or any of these other firms that are talked about in these threads when scams are refered to, you will see that your starting balance after sinking 5K in your account is ZERO. I have never traded through any of these shops, but I challenge anyone who just started at any shop like this to show me an starting balance with 5k in it. Infact I'd be shocked if anyone could show me a starting balance above zero. I GUARANTEE YOU THAT YOUR STARTING BALANCE IN YOUR DAILY REPORT WILL BE ZERO, even after you just handed a 5K check over. That means you have waived your right to your own money and only paid for training. Firms can now limit you as they see fit b/c in theory you only paid for training. I would like for some people who work at some of these firms to reply and tell me if when you started your account had a zero balance or whether it showed the money you paid in it. If it doesn't have a positive balance and is not a Chicago member then the shop is behaving in a way that the SEC is opposed to.... this is the very reason that they have to mask your deposit as a traing fee. I would like to hear from some guys who work at one of these shops. And other posters PLEASE DO NOT ATTACK THESE PEOPLE AS THEY'VE DONE NOTHING WRONG..... THIS IS A DISCUSSION, NOT A PLACE TO RIP APART GUYS WHO ARE TRYING TO LEARN IN THIS BUSINESS. SO LET'S KEEP THIS AN IMFORMATIVE DISCUSSION AND NOT A FIGHT.