HLV "Training" Program

Quote from kamdooo:

heres the scoop:

You need to progress through each level to advance through the program and become a "trader". No capital contribution involved.

Step 1: 100 shares, .60 per order
stop loss = 20 dollars net
minimum of FIFTY trades per day
Goal to advance is 2 days in a row GROSS positive $10.



step 2: 300 shares, $1 per order
stop loss = $50 net
50 trades per day
Goal to advance is 2 days in a row
$10 NET positive.


step 3: 1,000 shares at a cost of $1 per order.
Stop loss = $100 net
50 trades per day
Goal to advance is 2 days in a row $100 NET positive.

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More...

Not wanting to sound cynical, but the above is like saying "Trade, make money, trade more, make more money" - how is that a training program? Didn't we leave out the part where they teach you HOW to make money? Step 1= Make a $million. Step 2=Make $2million....??

Kevin
 
They charge $595.00 for training. You have to pay. If they don't like you after one week, or after training, then they keep your $595.00 and tell you to leave. Then you are out $595.00. Training should be free. Sounds like a scam they got going. They are trying to get $595.00 from as many people as possible. If they were reputable, then training would be free. Especially since they are taking 50% of our profits.
My recommendation is to stay away from this company until they change their policy and give free training.
 
According to their website, they are opening up a prop firm in Las Vegas, but they don't have a business license and are not registered with Las Vegas City or Clark County to operate a business or do any business. It looks like they just rented out a location for a short time and then will close and leave with everybody's $595.00 which they took from you for training. So this means they are NOT a legit company, especially since they are taking $595.00 from you to train you. All busines have to have a registered business license in order to operate a business in Las Vegas. Henderson Las Vegas business license search is also listed below. Do your homework before you give money to any daytrading firm. If it sounds too good to be true then it probably is. (If I am wrong, then I apologize and I will ask the moderators to delete this post, but according to my research, the HLV capital in Las Vegas is not a reputable company).

You can check it out yourself here. Clark County business license search and also Las Vegas city license search below.

http://sandgate.co.clark.nv.us/businessLicense/businessSearch/blindex.asp

http://www3.lasvegasnevada.gov/Bus-license/Search.asp

http://dsconline.cityofhenderson.com/BusinessLicense/BLQueryWrap.cfm
 
for what it's worth, the business model for prop traders (at least when I traded there) was scalping Lucent. it can be profitable, i saw people take home checks.
 
Quote from kamdooo:

heres the scoop:

You need to progress through each level to advance through the program and become a "trader". No capital contribution involved.
More...

This is FALSE information. There is a $595.00 money(capital)contribution involved for one week of training. They won't let you join them if you don't pay for the training.
 
Quote from pumpkinhead:

This is FALSE information. There is a $595.00 money(capital)contribution involved for one week of training. They won't let you join them if you don't pay for the training.
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Is it a capital contribution, a refundable deposit, or an actual charge for their training course?
 
Quote from mschey:

Is it a capital contribution, a refundable deposit, or an actual charge for their training course?
More...

Actual charge for their training. They just started charging. Training use to be free. But no more. (they must need the money)
 
training use to be 300 bucks, at least in the Socal branch. I thought the trainer "pete" was good. At the time I thought, "well, whatever i'm using their capital in the end".

But charging 500-600...not sure how many folks will be so accepting.
 
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