Passed the SMB Futures tryout in 15 days

traderjo said:
-It can create conflict of interest...in such a case questions that gets raised is "is the "firm" more interested in selling that "training package" or finding trading talent?
Sure it is a great model for the "firm" ...
- To avoid this question and criticism true large self funded PROP firms "Hunt" talent with their own money and efforts, Once they find talent they train them at their own cost
Same way say manufacturing company will find an engineering student, ask them to appear for a Entry test ( free) and then train the selected ones until they perform]
If they don't perform thy get fired..
fair
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Sorry, did you go to the university of Chicago? If not, you probably aren’t getting the offer you’re describing above.
 
ZTrader888 said:
Congrats on passing their test. Question - what is your draw down and how much profit do you have to leave in the account to cover it? Have you reached the initial balance? This draw down question seems to come up frequently so I'm just wondering how a real funded trader handles it. If you take that $5,000 out, will they close your account? Thanks.
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Yes if you take out the entire $5000 or go below $0 - you are done. You will have to go back to Step 1 of the combine.

I leave around $2000 in my account to cover the small losses I incur on a daily basis.
 
If you're tired of losing hundreds or thousands of dollars of your own money on a weekly basis, why not give a service like TST a shot? If you're a good trader it'll only cost you $150 to pass the combine and then you can be on your way to trade their funds. Sounds like a no brainer to me.
 
Earn2Trade said:
Right, I had the impression your statement was more directed at the nature of the business model then promotions in general. This month alone over 100 retail traders have been funded through our company. You are entitled to your opinion but we don’t think there’s anything ridiculous about that.
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Well of course not, there is a lot of money in the hamster wheel. (TST has been around for about a century.)

Question, and if you answer it I will be impressed, as nobody else does.

What are the stats of the traders involved? What's the success rate? How long does the average trader survive being funded? I have never seen anybody answer this. I think if those numbers were ever public, it would be detrimental to the entire business.

I suspect that any profits come not from the market, but rather from the other players involved. As long as I get paid when I have profits, I don't have an issue with that, but haven't heard of anyone actually admitting this is the case. If it is, then it is simply like going to the casino, in the sense that you are taking money from other players, which is fine, but not how it is presented, which would concern anyone thinking through the situation.

I also would ask why the cost? There are a few firms out there that will actually fund you if you have at least a 6 month trading record. (From the conversations I have had, they are looking for 2-3% a month, but these are also FX firms.) The account sizes are bigger that offered with your competition, which also makes me wonder.
 
FTDK said:
Nice counter argument.

In my opinion it definitely makes sense to do promotions like these. There are a few other companies out there offering almost the same stuff for the same price, so making sure they are cheaper with a discount can attract some business over from the competition who are not offering discounts.
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Wasn't talking about the 'sale', was talking about the maths involved.
 
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