Trading against the Pro's?

Quote from squeeze:

All your examples are attempting to seperate you from your money whilst providing as little service of value as possible.
It's how they make the most money.
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Trying to see how much you can get and how little you can give is a losing proposition, not a winning one. :)
 
Depends on the mentor.

Most profitable traders will not take you on unless there is something in it for them and the risk of their edge being lost is not worth it to most.

Can it be done sure but it will cost u much more then 10k one way or the other.
 
Quote from FaderTrader:

All of the above posts are correct - brokers/prop firms don't give a crap about you - they just want commish. Whether you generate that for them though losing or winning trades doesn't matter much to them since learning to/teaching someone to trade is a nearly insurmountable task.

If I told you that you could do 1 of 2 things:

1. Start a prop firm and train people to trade successfully so that they would stay with you ad infinitum, or

2. Start a prop firm and not give a crap about the trades themselves, but rather the commish generated from them.

Which proposition presents the greatest risk/reward ratio to the prop firm owner? #2 obviously.

That being said, prop firms do serve a purpose. If you are able to trade successfully, the leverage they provide will allow you to generate an income (maybe even a large one), which is more than I can say for the retail traders here bragging about the 25% they got off of a 10k account last year.

The choice is your, just keep your eyes open, and don't get discouraged by a false start. I didn't.
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Just a comment (whoda thought, LOL)....Number 1 above is so much better for so many reasons, but primarily, since there is a finite number of those who have the ability to become successful traders....it makes more sense to work really hard to help these traders stay with you (make Money)...than to have the proverbial "revolving door" strategy that retail firms use...(you can tell by the amount of advertising money they spend)..... I'm happy that we have had some of the same traders for 14 years or more....

And....discretionary traders don't even think about "ROI" as you said, what good is 25% on $10K....traders are like anyone else, they need to make good $$ to survive and thrive....and they get "paid" for their efforts, skill, discipline, training, etc. etc. "Idle" money is looking for ROI.

All the best,

Don
 
Life is about risk. If you don't take the risk, you will never know. If you wanted to see whether or not you will succeed in trading then you have to try it. Worst comes to worst, you will lose $10k just to find out if trading is suited for you. There's a price for everything.

My advice is to have enough money saved up for at least a year. If you don't make it in trading you can always do something else.

best of luck!
 
Quote from RedManPlus:

I did not say the our dear Capitalist System was Evil.

I just pointed out the OBVIOUS...
That it is driven almost solely by profit motive... and is ultra-competitive.

The problem with > 50% of the people on this board...
Is that they believe super-smart, super-ruthless people running businesses under the Capitalist System...
Actually want to "help them get rich".

This bizarre phenomenon is by far ** most overt ** in the trading business...
Because the securities industry systematically preys on the Greed of unsophisticated people...
And floods all media with ridiculous and deceitful ads...
Like Supermodels and Calvin Klein zombies with laptops taking easy money away from Pro traders.

Please note that lying is legal.

Otherwise rational people who understand that it takes 10 years to become a doctor or lawyer...
Believe that they can join the ultra-elite world of successful traders...
By buying a few books and programs.

Greed will NEVERr allow them to let go of this fantasy.

That's why I like the original post. The man understands Life 101.

rm+


You said in your previous post that securities firms exist solely to transfer wealth from our pockets to theirs, you imply that they are liars, and that they are trying to bring out greed in people. Then you say you didn't say they are evil. Would you please enlighten us as to just what constitutes evil?





:cool: :cool: :cool:
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there is the age old wisdom given to new traders.........start slow, trade 1 contract or demo trade and all of that old stuff.......no one does that unless he is a very unusual trader.........that is because of greed.......and ego comes in to play quickly, especially if beginner's luck is his........the sees all the secrets , patterns, etc..that no one else has "discovered"........then he steps it up and it starts to fail more often and emotion begins it's nasty little creep into the mixture as market shifts even from 1 day to the next.......so on and so forth.........he throws all the money he can afford at it and then finally he faces reality.......he lost.....somebody else now has his money in their account........... what % does this scenario happen.......?
 
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