if im you i wait until the tuition goes up to 13k from 9lk. take the class then because to me to raise the tuition by about 40% there is probably a holy grail type of situation that you cant get with the 9k education. also i am assuming you will get 85k to trade with for life, its only fair right 50k was for a 9k education correct.
Velez Capital
- Thread starter TOMMYJR9
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if im you i wait until the tuition goes up to 13k from 9lk. take the class then because to me to raise the tuition by about 40% there is probably a holy grail type of situation that you cant get with the 9k education. also i am assuming you will get 85k to trade with for life, its only fair right 50k was for a 9k education correct.
So Tommy, if you didn't want to hear that this is not the best path for you to take, why did you ask the question.
Every time someone puts forth a negative responce you come up with a "yabut"
As a public service, spend the 9k and keep the rest of us posted as to how it's working out.
Good luck.
Every time someone puts forth a negative responce you come up with a "yabut"
As a public service, spend the 9k and keep the rest of us posted as to how it's working out.
Good luck.
I think you are ignoring some good feedback. You have responses from people who have had experience with VCM and warned you what to expect. You have also had some alternate suggestions as to how to start your trading career.
Ultimately it's your choice and you have to live with the outcome. You're going to do exactly what you feel is right and have to take responsibility for your decision. You won't be able to come back and claim that nobody warned you.
It's like trading. There is a difference of opinion as to the value of the market and you don't have any guarantee of how it will go. Your risk is 9K. You don't know your target, it may be untold wealth or it may be nothing. Are you willing to take the trade?
It sounds to me like you don't want to hear what people are telling you. It's like after every negative response you ask for more responses hoping you finally get a positive response so that you can sign up. The data you've received so far should have been more than enough to make you RUN, not walk away from this outfit. Yet you haven't. This is a very bad display of judgment in an aspiring trader. You can't seem to walk away from a clearly bad idea. If you act this way in the markets you will be broke before you know it.
Here's my general advice to aspiring new traders. If someone is offering to teach you how to make money in the markets, put yourself in their place. If YOU had a consistent moneymaking idea would you be teaching it to others? Hell no! I'd automate it and keep it all to myself. The only way I'd do it is if I could generate more money from the seminar fees that the actual trading generates. In which case it must not be such a hot method after all.
The only education I'd sign up for is if I had no idea how markets work and someone offered to teach me the basics, ie. what's a bid/ask, order routing, market depth, etc. As soon as they offered to teach me a method I'd run for the door.
Here's my general advice to aspiring new traders. If someone is offering to teach you how to make money in the markets, put yourself in their place. If YOU had a consistent moneymaking idea would you be teaching it to others? Hell no! I'd automate it and keep it all to myself. The only way I'd do it is if I could generate more money from the seminar fees that the actual trading generates. In which case it must not be such a hot method after all.
The only education I'd sign up for is if I had no idea how markets work and someone offered to teach me the basics, ie. what's a bid/ask, order routing, market depth, etc. As soon as they offered to teach me a method I'd run for the door.
First of all at .02 per share you have what I would think a probability of 90% of failing at trading. Factoring in the 50-50 profit split after fees, and I would increase the probability of failure to 95%. Adding in the buying power constraint and your probabilty of failure rises to 99.9%. Lastly adding in that you can't afford to give trading 100% of your time and will be working elsewhere I would increase the probability of failure to 99.99%.
To top it off, saying that he is going to back you for a "lifetime" if the above probabilites payoff I would say is 0%. In other words I would say there is a 100% chance if you aren't successful that you won't receive a "lifetime" of backing from this guy.
Trading is all about probabilities and setting yourself up to succeed. If you can't understand the above I wouldn't waste your 9K with Valez.
If I were you, I would save up 30K in your current employment, do as much trading research as possible in the meantime, and open a IB account. You will have 120K of intraday BP, your fees will be .005 per 100 shares(I think). And you will most likely with proper money management be able to trade a "lifetime" without blowing 9K.
I would stay as many miles away from Valez as I could get, but as I see it the problem is this. On elitetrader if you sell something you are automatically a bad person. So after awhile it gets to be a little bit like the boy who cried wolf, and when a real pack of wolves shows up no one believes him anymore.