Philadelphia Region?
- Thread starter Logic
- Start date
Fine. Analyze the 6000 posts and prove this via statistically valid methods (other than your mindless driveby shootings)
A firm that charges for training with the promise of trading proprietary capital sounds like a scam. It reminds me of modeling "agencies" that charge for classes with the promise of contracts that never materialize. They make their money from the training fees, not from splitting fees with successful professionals.
At the very least, if you're considering such an arrangement, exercise due diligence and make sure that the firm can put you in touch with traders who have completed the training and are now trading prop capital for a living. If they can't do that, you surely know you have a scam. But let's face it: if a firm was successful in training traders and was confident of their success, they'd make plenty of money from the profit splits. They wouldn't need to talk traders into huge training fees with pretty promises.
And, really, is a several week course going to turn a beginner into a successful trader? Caveat emptor
At the very least, if you're considering such an arrangement, exercise due diligence and make sure that the firm can put you in touch with traders who have completed the training and are now trading prop capital for a living. If they can't do that, you surely know you have a scam. But let's face it: if a firm was successful in training traders and was confident of their success, they'd make plenty of money from the profit splits. They wouldn't need to talk traders into huge training fees with pretty promises.
And, really, is a several week course going to turn a beginner into a successful trader? Caveat emptor
I'm Philadelphia regional and trade from home. There are only three places that I know of that actually have sit-in offices:
* T3 Live, located in Jenkintown.
* Coastal Trade Securities, at 19th and Arch.
* AMR Trading, at the PHLX. Geoff Aton runs the place; he's a nice guy, though I've never actually gotten to the business-transaction point with him.
(Note: I don't actually work with any of these three groups.)
There's a Hold Brothers location out west a bit, but I believe he shut down his actual physical office in August (and is now purely remote.)
Good luck with the search.
* T3 Live, located in Jenkintown.
* Coastal Trade Securities, at 19th and Arch.
* AMR Trading, at the PHLX. Geoff Aton runs the place; he's a nice guy, though I've never actually gotten to the business-transaction point with him.
(Note: I don't actually work with any of these three groups.)
There's a Hold Brothers location out west a bit, but I believe he shut down his actual physical office in August (and is now purely remote.)
Good luck with the search.
Ah.....that was their Berwyn satellite office. I visited when they first set-up last April. He had to finally throw in the towel. I'm not surprised...it was a lousy "deal". Moreover, the software was super crappy.
There's also Orion Financial in Wayne...they're most hedge fund executors, but they did have a large prop office at one time.
http://www.ontowns.com/Orion-Financial-LLC-2347512.profile.htm
Whoops...looks like they're out of business as well !