Quote from Gubinec:
If you can't trade your own money, what makes you think you can trade others'?
Save yourself time and money and open your own account. You can swing trade, or trade on any time frame for that matter, on your own account, too.
Read a good book or two, spend time on simulator for a week or two, and then get into the action using tight stops.
I recommend non-time based charts.
TS Trades you owe this comment from Gubinec a draft at the nearest Pub! Fabulous comment Gub-ner.
A friend of mine reminded me that when you see posts that are drafted like these with less than 100 or 200 postings to their name, these are often drafted from salesmen or company representatives instead of honest real traders making it based on their wits. Whether or not TSTrades is / are / were a real trader, I am going on the basis that he just might be.
TST -- the game has changed so much that trying to get into the upper tier (as if they really were) as was your experience, just aren't worth it.
Some of those NYC firms seem real, but in reality are nothing but excuses to pick and choose and train only those of the owners same ethnic, religious and age range background. [
strike one]
Some of these other firms claim to have a training program, there is one in particular that has a multipage advertisement that is so slick that you wonder whether the intelligence resident amongst the firms bosses to have created the content, let alone the presentation; they evidently paid for a slick advertisement that far exceeds reality, even those allowed into their program. [
strike two]
Some of the prop shops offer training in all earnest and with good intentions but mediocre to very poor delivery. Training requires structure. Structure that comes from discipline. Discipline that comes from being with corporate management in a competitive environment, like consulting and managing upwards of 10 staff or more, or negotiated multi-month / multi-thousand dollar services contracts for delivery of consulting services in order to be effective at teaching or training independent traders. The classic profile of independent traders resist and avoid that previously described structured environment and their lack of trading success reflects that comment. [
strike three]
Then there are the Lucky Boys. You probably have seen the commercials on TV, Lost-of Luck, Little-Bit of Luck, Dumb Luck, Fat-Chance Luck, and the other Luck's in the family to succeed.
Actually the industry has moved into this market space and offered 6x, 8x, 10x leverage in competition and far less in fees and obligations (licensing, etc.)
Check out the advertisements from IB (Interactive Brokers) just to name one.
