i went this exact route last year. I was profitable (you start out only netting 10 bucks, then a few weeks later you're at 35 net, then 75 net after 50 split) after a few days, and stayed for a few months. (I was there during probably the worst time in the year...summer....trading lu/nt during summer...imagine that.)
If you just do what Pete (that was the trainer back then) says and use a little discretion, you'll make money. That being said, there were a few reasons I left. It was just me and another trainee in a room. The office had just opened. The managers were young, and admitted a month later they had no interest in becoming traders. They encouraged me to become a manager in the future, like them. I said I wouldn't feel comfortable recruiting until I was profitable for a year. They said it didn't matter. I go, "but if you can't train them on a regular basis, whats the point?" they go, "you're offering an opportunity to trade firm capital. Some people will like it, others will not. But as a manager, my job is to recruit and manage the office, not to train."
That office closed down a few months after I left.
These past few months I've been trading my own capital, after yet another failed backed situation at a different prop (ugh, guy was the shadiest character of ALL TIME; i think he's being sued right now). But it turned out just fine for me.
Although I don't trade in any way similar, I benefited from the experience. Pete was a fantastic guy. On top of that, he made money everyday in front of me; he'd do a 5k order on LU just to show you it can be done. 1 trade, 1 shot. Now if that's not performing under pressure, I don't know what it.
I guess its because of guys like me that they increased the training costs. But honestly, if the office had at least 1 experienced trader in the room to learn from, I'd of been more open to staying (2 newbies, 1 room, summer, 1 cent range = no good)
Even if you decide its not for you, you'll benefit from the experience. Because lets face it. How many newbs do you think walk into a situation with their own capital and lose less than 600 bucks? Very, very few. I honestly believe trading my own account would have been harder if I hadn't had some kind of experience, even if it was completely unrelated to what i do now.
best of luck.
(And just remember, its ultimately up to you anyways, so don't be discouraged if you don't have a mentor to sit by. If someone had told me that back then, I would have probably taken a different approach to trading all together.)
Quote from ladavis23:
Am I making sense here? What are your thoughts?
Thanks.... [/B]
