Why can no one suggest a real prop firm on this section of the forum

[EvOTraderV2]

You can make $$ on SIRI, S, BAC, C, and other high volume stuff when rebate trading. It's probably good for n00bs because it's low risk, however, it does require a lot of discipline and it's very tedious and repetitive. learn to program and automate it.

 

[LEAPup]

JSH, are you telling us that this firm is going to give you 50k on a $1,500 deposit? If I were you, I'd be seeing red flags all over the place with a "deal" like that. Your $1,500 will be gone imo in the blink of an eye. Don't do it bro unless you're planning on using the $1,500 on what I'd consider "tuition."

With "tuition" in mind, $1,500 isn't a bad deal at all to be able to trade someone else's 50k. I met a Woman recently who paid $7,000 to "Success Magazine Investor Education" training/mentoring and has yet to make her first trade.

Best of luck to you whichever way you go.

 

[LEAPup]

Quote from WinstonTJ:

Because generally speaking the industry is filled with people that lack morals and integrity. Everyone is out for themselves and the most profitable strategies quite often pull money out of the market vs. invest or do something positive.

The barrier to entry is extremely high as is failure rate of new traders.

It's like that saying "those who can't do, teach". Well there are a LOT of "learn to trade" courses out there... Think about it, if they were such great traders why wouldn't they be retired or still trading? Very few do it just because they love it.

At 21-25yo and bartending at night for living expenses putting up $1,500 (and being prepared to lose that and recapitalize twice or more in your first year) isn't a bad way to learn. As long as you are NOT factoring in trading profits into your living expenses.

+1

 

[EvOTraderV2]

Quote from LEAPup:

JSH, are you telling us that this firm is going to give you 50k on a $1,500 deposit? If I were you, I'd be seeing red flags all over the place with a "deal" like that. Your $1,500 will be gone imo in the blink of an eye. Don't do it bro.

Read the thread about "the dangers of leverage"

50k for $1500 is 33:1 and considered high unless you're really restricted in the symbols you can trade.

 

[Don Bright]

Quote from EvOTraderV2:

Read the thread about "the dangers of leverage"

50k for $1500 is 33:1 and considered high unless you're really restricted in the symbols you can trade.

As I mentioned, it's probably the "Swift Trade" model, not really trading per se, but placing orders to collect rebates. Why not is what I said, for $1500 he may be exposed to the real trading world, and might love it, or may become cynical and avoid it altogether. Either way, a good lesson I would guess.

And Mav, when you have time post up like 5 firm names for the OP. I would, but I'm out of that Chicago loop (is that a pun, LOL).

Don

 

[EvOTraderV2]

I agree, Don. Better to spend $1500 actually in the market than on an educational product. Especially if you can trade on-site at a firm with more experienced guys.

 

[Maverick74]

Quote from EvOTraderV2:

I agree, Don. Better to spend $1500 actually in the market than on an educational product. Especially if you can trade on-site at a firm with more experienced guys.

But Don's boot camp costs $1000. :eek:

Sorry Don. I forgot to turn the algo off at the close.

 

[LEAPup]

Quote from Don Bright:

As I mentioned, it's probably the "Swift Trade" model, not really trading per se, but placing orders to collect rebates. Why not is what I said, for $1500 he may be exposed to the real trading world, and might love it, or may become cynical and avoid it altogether. Either way, a good lesson I would guess.

And Mav, when you have time post up like 5 firm names for the OP. I would, but I'm out of that Chicago loop (is that a pun, LOL).

Don

No question, if he looks at the $1,500 as tuition, that's a heck of a good deal for the experience.

 

[Don Bright]

Quote from LEAPup:

No question, if he looks at the $1,500 as tuition, that's a heck of a good deal for the experience.

Maybe he'll tell which rebate firm it is? Always curious.



Don

 

[LEAPup]

Quote from Maverick74:


Sorry Don. I forgot to turn the algo off at the close.

Ah! I just found the guy who took part in "taking a bite" out of my aapl today.