Thats exactly why I have not closed the deal yet, and may not ever even though it would easily make 250-500k per year for me. It's not something I want to get involved with if it's not something I feel can benefit the users as well, and the way they have it setup right now..not so much...but I've been able to work a lot in the direction I've wanted to go in..and I think I can continue to do that and hopefully have a great thing..both for me and for the traders who sign up.
all those traders who put up "$5000"
- Thread starter NYC212
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Thats exactly why I have not closed the deal yet, and may not ever even though it would easily make 250-500k per year for me. It's not something I want to get involved with if it's not something I feel can benefit the users as well, and the way they have it setup right now..not so much...but I've been able to work a lot in the direction I've wanted to go in..and I think I can continue to do that and hopefully have a great thing..both for me and for the traders who sign up.
100:1 + is not unheard of. In fact, it is more much common that you might think. Of course that isn't offered unless the trader has a decent track record.
500k BP isn't too bad is it ?
And some firms DO NOT make a penny if their traders don't. So they want their traders to succeed.
500k BP isn't too bad is it ?
And some firms DO NOT make a penny if their traders don't. So they want their traders to succeed.
I can appreciate you not wanting to get involved in a deal that makes it impossible for traders to ever make it. It really is a horrendous deal. Giving someone 50k buying power with a 50 dollar downside might be the worst deal I have ever heard. Sorry, but I gotta be honest. Nobody, and I mean NOBODY can ever succeed with that kind of limitation. To be even more honest, (not you) but the guys behind this deal are grade one scumbags. I have seen places like that who offer "the magic formula" to successful trading, pocket the fee, then restrict their traders to a point where they know the trader won't make it and quit soon after.
I met with a group a few yrs back who claimed they had some dynamite strategy trading futures. The head guy claimed he ran a very successful hedge fund and was now going to share his great plan with people he was going to train and join his team. I did my research before hand and found out he ran about 4 funds over the last few years, but none of them were successful. In fact his current one had their AUM drop by 63% over the last 4 months. Apparently they had only been interviewing people with little to no experience. I don't think he was prepared for my round of questioning. He claimed they charged a $6000 fee because they wanted people to show that they were serious about going to work for him. Uh huh......when I asked such tough questions as "Once one completed training, how much would the firm back the trader with"...answer "depends on how good we think they are". When I asked how does one determine how good a new trainee is without them ever trading the guy kinda of shrugged his shoulders and said "we figure it out". Another beaut.....when asked "What is the time frame on holding positions/your exit strategy"....answer "Well...it's up to what the trader thinks...we leave it up to them". I asked are you daytrading,swing trading, more longer term....he replied "It depends on the situation" Sounded to me for 6k, they weren't teaching you much.
Again, this isnt a personal attack at you Brandon, but scumbag firms like this are all over the place and burn new traders real bad. I am sorry, but ANY firm charging new guys to learn their strategy in my opinion is a bad place and should be avoided like the plague. All the are interested in is throwing enough shit agianst the wall, collecting their fee, and maybe seeing what sticks and possibly getting a trader or two who can survive.
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Never tried to trade pairs.
Sure seems like it eats up BP fast.
5k with 100k trading power gives me plenty of risk for return