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Ask any of these "education" firms for audited returns of their student's success. They won't give you any. None of them teach anything special. None of them teach you anything you can't find in 100 books. If you don't have the discipline to self study....trust me on this....then you will...

Ev, In my opinion Option A is the best way to go. Option B is usually a scam. In Option B you give these guys money for education and maybe they will let you lose a little of your money and then comeback and ask you to take another class. And what do you get? Old videos showing you support...

This seems to be another thread similar to " Anyone know of a no capital contribution required firm". Everyone wants something for nothing. You complain that data prices are so high but want a prop firm to pay for it. What do they get in return? Potentially some of your profits and all of...

If you have a successful track record you wouldn't be either broke (so you can't make a capital contribution) or would have the confidence to trade it yourself. This same topic comes up all the time and the bottom line is they don't exist anymore.

This same questions gets asked all the time and the answer is no. Unless of course you went to an Ivy League school and you are being hired out of college. In my opinion if you are a good trader just put up the money and get 100% of your profits. It would seem like someone who wasn't...

Offshore firms that accept US traders operate in a grey area. They do hide behind a disclaimer that they do not solicit US traders. How far this goes is anyone's guess but I wasn't about to risk it with my hard earned money. The 56 wasn't that bad. I studied a few weeks and the material...

If a firm is based in the US and requires you to make a risk deposit, they must be an SEC registered broker dealer. Be careful of firms not registered, they are being shut down by the SEC. Be careful of firms saying you are buying education....everyone knows they are just trying to get around...

People: Listen to evo and itrade....just take the series 56 and trade thru a reputable firm like JC Trading Group or Bright Trading. If I can pass it anyone can pass it!

Yechiel, I have been with JC Trading Group for about 1 1/2 years and highly recommend them. They trade through an SEC registered broker dealer and I believe they can accept a series 7 in place of the series 56. Website is http://www.jctradinggroup.com . Do a search here and you will see...

Eric, I agree with everything you said. Obviously traders can be successful in a retail environment. They can also be successful in a prop environment. Both have their pros and cons. I feel for most traders that have PM'ed me here over the last year fall into the "smaller" trader...

Eric, The bottom line is that 95% of the traders on here are not as rich and successful as you are. We don't have 100's of thousand of dollars to open a retail account with. Your claim that your funds are not at risk are false. SIPC only covers $500,000 and of that only $250,000 in cash...

I didn't realize that E-Trade and IB were non-profits! That makes no sense that "prop firms take an added cut out of your commissions to cover their risk in providing you leverage" Don't the retail firms take a cut out of your commissions to pay for marketing, personal, rent, and keeping the...

Maverick, I think we are on the same page but I do take a little offense to "under capitalized" I definitely don't have $500k to $1 million like the people that you trade with. But I do have a liquid net worth of about $150,000. Of that, $25,000 is at a prop firm supplying approximately...

I agree that IB is a great choice for the swing trader or even the guy that does 1 to 2 trades per day. But for an active day trader that is trying to make a living trading I do not believe it is a good choice at all. But just my 2 cents!!

Regarding salaries: Do you have a profitable strategy? Are you a good trader? If you answered "yes" then why do you need a salary?? Just trade! You can make more money trading if you have a profitable strategy than all those doctors and lawyers that went to school for years and have a...

What everyone is saying about the access to leverage is 100% correct. You cannot daytrade successfully at a retail firm. They are made for investing and swing trading. If you want to be a successful day trader you MUST trade at a prop firm. Here is why: Let's assume you have $100k to...

Yes, it gets pretty boring. I have been looking for a few guys to share office space with. It will kill 2 birds with 1 stone. I will get out of the house and have a backup incase I lose internet.

You can easily start with $10,000 and make a go of it in stocks. But you can't do it in a retail account. First you have the PDT rule, second, you would be sending your orders to a market maker, and third, your costs will be too high. You need to trade at a prop trading firm. You can...

Call JC Trading Group. They have been around the longest and have a great reputation here on elitetrader.

Yes, Lake Street has been shut down by the SEC. I have a friend who knows someone that trades there and he said they have been shut down. The writing was on the wall for these types of firms that are in the US and take US traders. See these threads...