SMB Capital $5k Training?
- Thread starter sobepehopeful
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why do you sound so desperate
Are sales down?
anyway... after all the kind reponses that you received I am sure that you will agree that now you have been warned. And that you take this adventure at your own risk ( as always, as is life... ).
However don't be ashemed if you fall in it... everyone does mistakes... the only difference is how long it takes for you to recognize it... P.E.A.C.E.
However don't be ashemed if you fall in it... everyone does mistakes... the only difference is how long it takes for you to recognize it... P.E.A.C.E.
It seems people here disagree with paying a prop to recieve training, however isn't it only fair that they charge something?
Anywhere you go to learn a new skill, you will most likely have to pay something, why should it be any different with trading?
Not only that, but they risk the possibility that the trader will walk out on them once they learn their methods.
I'f I were to teach someone tomorrow, I'd charge 250 a month, but thats just me.
Anywhere you go to learn a new skill, you will most likely have to pay something, why should it be any different with trading?
Not only that, but they risk the possibility that the trader will walk out on them once they learn their methods.
I'f I were to teach someone tomorrow, I'd charge 250 a month, but thats just me.
Legit prop shops don't ask for any contributions or training fees. They fully capitalize you and have faith in their program that they will make you profitable. The payout % is less, but that is the deal.
Some also even pay a salary. These firms that ask for training fees are a joke. Don't waste your time. Firms that accept fees are nothing more than your broker that provides leverage. They will "fire" you as soon as you burn through your capital... whether in a training or initial deposit fee.
Some also even pay a salary. These firms that ask for training fees are a joke. Don't waste your time. Firms that accept fees are nothing more than your broker that provides leverage. They will "fire" you as soon as you burn through your capital... whether in a training or initial deposit fee.
Bingo. It is the truth.
Sure, those legit firms are hard to get into, but they probably turn out the most successful traders and have the best retention rates.
Konviction: This point of yours is full of holes:
"Anywhere you go to learn a new skill, you will most likely have to pay something, why should it be any different with trading?"
It is very false, actually. In finance, you go on to work as an entry-level analyst in any bank and they have training set up for the first few weeks. They lose money on it (since you are not contributing yet) and are paying you to boot. Even on the other end of the spectrum, taking many skilled labor jobs, you will be trained on the job. Real estate? You may pay to learn and get your liscense, but usually you will get those fees back if you join a good firm.
I understand trading is a different animal since you can actually lose vast amounts of money, but a good firm will show trust in their training and mentor a trader the right way. The top firms manage to do while paying their traders a salary.
So what props provide free training?
Chimera, Trillium, FNYS, RBC Capital Markets. Just to name a few. There are a lot in chicago, which may be more futures oriented or be a little more quant, such as SIG, Jane Street, etc.
Schonfeld's firms too
On this note, I don't really agree for paying for employment, although I understand that trading is a niche area and I guess I can see why some firms would require it. I am not talking about Broker-dealers here like Bright, BTW. Mainly props like T3, SMB, WTS, etc. Fact is, most new traders will end up losing in the end and it will cost the firm money.
I also believe that any of these firms that require any kind of fee, should be obligated to show trader yearly P/L's for their firm. Have them back up that training fee, deposit, or contribution.
I also believe that any of these firms that require any kind of fee, should be obligated to show trader yearly P/L's for their firm. Have them back up that training fee, deposit, or contribution.
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