The problem with the prop industry is that for all intent and purposes it is structured in many ways to circumvent legal constraints. Prop trading in its original sense is what the "big boys" in Wall St. as well as the Treasury Depts in banks have been going for decades. Traders are hired to trade firm capital and are compensated with a salary and bonus. The big difference today it that the so called prop firms have used the term "prop"as a way to sell the concept that you are trading firm capital. They love to claim that you will be risking thier money and not yours. The fact remains that the deposit or training fee which they require is really your money and that this is what is actually at risk. You simply opened a stock account with a predefined stop loss , a profit sharing scheme and in most cases with lower trading costs. The only advantage I can think of is that you have access to buying power/leverage that you may normally not have access to. Likewise, if you don't trade remote then you get to enjoy the "trading room atmosphere" and just maybe you may learn to trade successfully by osmosis. (most unlikely).
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TRAINING FEES, what are they really?
- Thread starter WinItAll
- Start date
Retard.... I've been trading for the past eight years and unlike you am fortunate enough to take some time to right a book. I started trading before there were a million and one prop firms.
I probably have forgotten more about trading than you'll ever learn. And unlike you I'm not living at home in my parent's basement.
I was fortunate to start trading before all of these sub llc's came to be and when you had to have a license. So before your pathetic attempt at breaking into this business ends in a few weeks why don't you either supply me with some of your experiences or just don't come onto the threads. Like I said, you're a whining little woman that has never made a living trading so keep your comments to yourself. Also don't falsely quote me, I never said make your answers lengthy, i said make them genuine and detailed.
I have some great career advice for you though, head down to your local union office and apply for a job. I hear you get great benefits taking out the trash for a living.
I probably have forgotten more about trading than you'll ever learn. And unlike you I'm not living at home in my parent's basement.
I was fortunate to start trading before all of these sub llc's came to be and when you had to have a license. So before your pathetic attempt at breaking into this business ends in a few weeks why don't you either supply me with some of your experiences or just don't come onto the threads. Like I said, you're a whining little woman that has never made a living trading so keep your comments to yourself. Also don't falsely quote me, I never said make your answers lengthy, i said make them genuine and detailed.
I have some great career advice for you though, head down to your local union office and apply for a job. I hear you get great benefits taking out the trash for a living.
Quote from WinItAll:
I've been trading for the past eight years and unlike you am fortunate enough to take some time to right a book. I started trading before there were a million and one prop firms.
I have been trading since 1987. You are still a newbie.
Apparently you need to try to write a book, because your trading has failed.
I generally put the bottom 10% of ET on ignore - those who do things like deceive others such as pretending to ask questions about prop firms but are really trolling for book content or turn abusive when they cannot defend their actions. Or start bragging on their trading abilities without accompanying proof. You win on all counts.
And you make so much money, that you need to troll for free content? Great authorship...
PENNILESS AUTHOR HAS NOW UP STARTED 4+ SEPARATE THREADS TRYING TO MUCK FOR FREE CONTENT.
I've been trading for the past eight years and unlike you am fortunate enough to take some time to right a book. I started trading before there were a million and one prop firms.
I have been trading since 1987. You are still a newbie.
Apparently you need to try to write a book, because your trading has failed.
I generally put the bottom 10% of ET on ignore - those who do things like deceive others such as pretending to ask questions about prop firms but are really trolling for book content or turn abusive when they cannot defend their actions. Or start bragging on their trading abilities without accompanying proof. You win on all counts.
And you make so much money, that you need to troll for free content? Great authorship...
PENNILESS AUTHOR HAS NOW UP STARTED 4+ SEPARATE THREADS TRYING TO MUCK FOR FREE CONTENT.
He's obviously a big time trader, I mean don't most successful guys continually try and bash people they don't know during the first 45 min of the trading day. Myself, I usually make money during that time period but obviously posting comments on all my threads is a major priority of his.
The guy is a joke.
The guy is a joke.
Quote from BlackAces:
Hippie,
I have looked at several of your posts in the last few weeks in regards to prop firms and upfront risk capital. And I come to the opinion that you are flat out against this business model. However, in your personal crusade, I wonder if you are taking the time to realize that the firms that offer no risk capital with the best payouts and pricings are probably looking for the best of the best. What's in it for the prop firm that brings along inexperienced traders and offers them an opportunity?
Also, I must say that I am looking into signing on with one of these prop firms. I think that any amount of training and information they can offer will be more than I have at this point. As for figuring it out yourself, sounds good, but how often is money thrown into the furnace with "trying to figure it out for yourself"?
I am not against true prop firms. I am against scam outfits pretending to be prop firms. Scam outfits make their money by charging would be traders robbery tuition fees (many thousands upfront payment), without really teaching them much of anything that would help them become profitable traders.
If I have the extra 5-10k for their tuition fees, I would be using that as risk capital and learn to trade by following a live trading room with a reasonable fee.
Please stop SHILLING for SCAMS - they give true prop firms a bad name. To pay these scam props anything is to thrown into the furnace.
True prop firms make money only when their traders make money. Their interest align with that of the traders.
Quote from WinItAll:
He's obviously a big time trader, I mean don't most successful guys continually try and bash people they don't know during the first 45 min of the trading day. Myself, I usually make money during that time period but obviously posting comments on all my threads is a major priority of his.
The guy is a joke.
You also had time to respond a lot on the 5 different threads you started under one category, trying to pilfer user experiences, pretending at first to be a trader interested in this info, but them admitting you were trying to use it for a book. So how is your cutting and pasting across the 5 threads you started better use of time than mine, warning others against someone who is being misleading?
Where is your proof that YOU are a successful trader? Because saying so means it is? I said nothing about your trading background, because neither of us knows the other's background. . You did what is considered on ET, a personal attack, because you could not come up with rebuttal to the statement you were obviously pretending to be someone you were not.
You are bashed, because your behavior is extremely unethical. I made the mistake of responding to you originally, because I thought you were what you appeared, someone looking into prop firms.
Once again.... The post I have is labeled AUTHOR LOOKING FOR PERSONAL STORIES.... I can see how that was confusing to you, i should have been more clear on what I was doing, maybe I should have given you the publishers contact info... would that have cleared it up you retard.
What about any of this isn't above board.... you don't want participate great... just stop writing nonsense while i'm trying to do something productive that will probably actually help new traders.
What about any of this isn't above board.... you don't want participate great... just stop writing nonsense while i'm trying to do something productive that will probably actually help new traders.
Quote from WinItAll:
Once again.... The post I have is labeled AUTHOR LOOKING FOR PERSONAL STORIES.... I can see how that was confusing to you, i should have been more clear on what I was doing, maybe I should have given you the publishers contact info... would that have cleared it up you retard.
What about any of this isn't above board.... you don't want participate great... just stop writing nonsense while i'm trying to do something productive that will probably actually help new traders.
Prop Firms
Where Have you Traded?
Interview Process
TRAINING FEES, what are they really?
Prop Trading Firms in NYC
Author doing Research for Book
Care to show that your first posts told others in these 5 threads you started that you were scumming for input (detailed) from others that you were going to use it in a book??????????????
AUTHOR DOING RESEARCH was misleading?
I posted author doing research followed by questions I was interested in. I still don't see what the problem with that is. Just do yourself a favor and go back to cleaning people's toilets. You have 5000 posts of the same nonsense just hating on everything. You're a loser.
I posted author doing research followed by questions I was interested in. I still don't see what the problem with that is. Just do yourself a favor and go back to cleaning people's toilets. You have 5000 posts of the same nonsense just hating on everything. You're a loser.
Quote from WinItAll:
AUTHOR DOING RESEARCH was misleading?
I posted author doing research followed by questions I was interested in. I still don't see what the problem with that is. Just do yourself a favor and go back to cleaning people's toilets. You have 5000 posts of the same nonsense just hating on everything. You're a loser.
WinItAll You need ignore those shilling for scam outfits. They don't their scams exposed.
Someone called it my "crusade", just to let you know, scambusting is a hobby of mine.
I am pissed these scams wasted some of time, but glad that they didn't get my money.