And who trained this guy?
Noob to Prop Trading with a Question about Broad Street Trading
- Thread starter Av8rdan
- Start date
Glad to hear it. I know that our smart order routing can help with a few $1000 per month.
Thanks,
Don
I could be wrong...but here is the way I see it...
What do you bring to the table?
If you can bring around 40K and know nothing you can count that as the cost of training and tuition as you should not count on making much from it in your first year.
Now if you already trade and can prove your results...you will get a better fee structure as you are a turn-key machine.
I do not know how many prop shops are set up for training or if they are even interested. But I do not think they are interested to train anybody who only has 5-7K. They need liquidity for leverage. If they have the bucks like some prop shops here do...they are not going to tie it up on a lost cause with no skin in the game.
Traders it is rough out there...you want to carry your own weight eventually and do not want to give away the store. Finding the happy balance is not always to use your friends, even though they may be willing to help you. I suppose some of you are so "hell-bent" on trading with leverage and are so sure your trainable you would sell your mother and say anything to get started...but I am sure Don and company has seen a lot and has some stories to tell...Hey Don..Can you tell us some campfire stories? ☺
ES
What do you bring to the table?
If you can bring around 40K and know nothing you can count that as the cost of training and tuition as you should not count on making much from it in your first year.
Now if you already trade and can prove your results...you will get a better fee structure as you are a turn-key machine.
I do not know how many prop shops are set up for training or if they are even interested. But I do not think they are interested to train anybody who only has 5-7K. They need liquidity for leverage. If they have the bucks like some prop shops here do...they are not going to tie it up on a lost cause with no skin in the game.
Traders it is rough out there...you want to carry your own weight eventually and do not want to give away the store. Finding the happy balance is not always to use your friends, even though they may be willing to help you. I suppose some of you are so "hell-bent" on trading with leverage and are so sure your trainable you would sell your mother and say anything to get started...but I am sure Don and company has seen a lot and has some stories to tell...Hey Don..Can you tell us some campfire stories? ☺
ES
A lot of "campfire stories" for sure.... but the new people need to learn enough to even know what they don't know, as they say. Trading can be simple, but not easy...as I've said before.
All the best, Mr. ES.
Don
I don't know the names of who did the training but he did start at Broad St. I don't trade with them but I know of a few traders that came from / went to Broad St.
I totally agree but I think we're both on the same page here that we're trying to dis-spell the myth that training is worthless & all traders lose. That's not the case at all. Anyone interested can PM me and come by the firm I trade with in NYC and see for yourself. All traders are skeptics by nature, so I understand why they would say it's bullshit but even on strategies like rebate trading, there are bright and hard-working traders that are making a good living trading in 2012. The rules have changed, but that's about the one thing that's certain in this business: consistent change
if you are a skilled trader, this is a pretty good deal. if you are not, maybe it isn't right for you at the moment because it is a little predatory.
their risk monitor will definitely stop you from losing more than your deposit.
they make their money off of marking up software fees and commissions.
they're probably really nice guys but their business model may be iffy to some.