Look at any other prop firm that existed, bright, worldco, echo, jump,tuco
The numbers that came out of these shops are out there if you look for them.
Where are the profitable live traders from tst?
6 years and no one has ever claimed to be a consistent live profitable trader ?
Why is this ?
"Why is this?"
Some traders are either unwilling or unable to see through the crap when they read a blog or hear someone tell them they can take a small account and turn it into a large account. In theory, anything is possible. If a penny stock doubles each day, then you'd have over $1 million in 30 days. If you took a $5,000 options account and doubled your money on the first trade, then you would only need to go "all in" by repeating that process on seven subsequent trades to reach over $1 million. Of course, these odds are astronomical and do not depict reality, but instead provide examples for amusement. In other words, to separate FANTASY from REALITY.
As I've said in the past, NO AMOUNT OF "EDGE" IN THE WORLD will compensate for the lack of EQUITY, period. Bill Ackman and his fellow hedge funds are taking a beating on VRX. These are all smart investors, but still got taken. If they survive this debacle, it's because investors have enough remaining EQUITY in their accounts to stomach the draw, and of course faith in Ackman.
Bright's traders have to put up $50 GRAND to trade firm capital. The late great Don was shunned by critics who labeled him for wanting such EQUITY, especially when his competitors would take new traders for $2k-$5k capital contribution. But Don Bright knew better, because he was in the game longer and was less interested in the "churn and burn" model.
Lescor traded with Echo, and had more than $100,000 in EQUITY with the firm. Tuco's SEC filings discuss some numbers, although many of their traders were not profitable and suffered substantial losses. However, the firm did have over $10 million in EQUITY to fund their day trading operation. I'm not sure about Jump, however Maverick was from World Co, and the post he made STILL holds true today (see below).
You cannot expect numbers, even after 6 years, if traders lack EQUITY in their live accounts. Just as you cannot expect AMP to have a significant number of "profitable live traders" who open small day trade margin accounts.
If the majority of traders opt for the 30k combine, then how do you expect them to build enough equity in their live accounts to last 6 years? They can have "edge" and "discipline" from having traded the combines, however the major barrier to overcome is the limited number days in building their EQUITY. This is why the smaller combines are "training combines" because traders face an uphill battle when it comes to the live account. The only "trading combines" in my opinion are the 100k/150k, where at least there is a higher probability of making it through that 10 day barrier.
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