FWIW, I have noticed that they have become a bit more aggressive over the last year or so about selling education. In fact, its gotten to be a bit of a red flag. Makes you wonder at times.
SMB Futures Tryout
- Thread starter PromisingTrader
- Start date
From my understanding - 50 percent is decent. I have also seen numbers along the line of 20 percent, with a draw/base.
I think their equity trading desk was (is?) successful but don't know how futures division is doing.
S
silversniper
No you do not partake in the $3000 loss and it isn't trailed.. My point is, whatever you make using their $3000 risk capital (and splitting half), you can achieve the same by putting up $1500 of your own money and owning 100% of it. It's peanuts. If you've walked the path of profitability, you will not need the "backing" of these so called prop firms.
I was thinking about both their stock and futures education. Constant selling it seems.
Looks like Tryout is no longer available. Gone from their online page
Interesting. I suppose they are more about pushing the online courses at this point. One thing is for sure, they seem to be making more effort to get people involved in that part of the business. To be fair, these 'tryouts' are basically scams, and if they wish to have any integrity, they wouldn't be a part of it. However, they already have, and this raises red flags.
The education is easily found on the internet. (Both in other forms, and their actually courses are uploaded all over the place.) To be honest, it doesn't seem like anything I haven't seen anywhere else.
So this begs the question: If the firm is making so much money with prop trading, why are they fucking around with courses that are a few thousand dollars, and can't possibly be signing up more than a handful of people here and there?
Interesting indeed.
My guess is profits from prop trading are down.
So these firms have to look into other ways to make money in order to cover rent and wages.
It is desperation, not a good sign.
Im surprised some of these prop firms have lasted so long.
I never new this stuff existed. Totally wild. If my goal were to actually look for traders in some absurd, no resume-no due diligence manner such as this, and the methodology was electronic, requiring no demands for human interaction($). The last thing I would do is create a barrier that would inhibit some broke 'rainman' from participating. That's the eyebrow raiser for me.
Clearly its not about finding the next 'rainman'. Its about hooking in desperate suckers and selling them even more shit. The next 'rainman' doesnt need these guys anyway. With micro futures how much money do you need to open an account with the likes of AMP Trading. I think its $25 to open an account and start trading 1 lot micro russell futures. And if you can get $1000 together you can start trading 2 lots NQ futures.