New Trader. What is up with Tradenet and Meir Barak?

This is a discussion on New Trader. What is up with Tradenet and Meir Barak? within the First Steps forums, part of the Reception category; I am new to trading (been paper trading for two weeks now). In no way am I affiliated with Tradenet ...

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Old Aug 21, 2014, 10:27pm   #1
 
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Joined Aug 2014
New Trader. What is up with Tradenet and Meir Barak?

I am new to trading (been paper trading for two weeks now).

In no way am I affiliated with Tradenet or Meir Barak. Recently I have been looking for a broker to start day trading with. Problem is you need $25,000 in the US to day trade. I have around $10,000 to invest.

I also saw you can join Meir Barak's prop group for $10,000. This $10,000 is solely to join the prop group and have access to everything; you DO NOT get it back, it is a purchase. This purchase provides you with an account with $200,000 buying power. You keep 100% of the profits until you make your $10,000 back, and then any profits over $10,000 you keep 80% (this can be negotiated over time.. so they say).

So I am curious what is all the hate for tradenet? Granted you loose $10,000 to start, and 20% of profits thereafter, what if you do not have $25,000 to open your own account to day trade? Are the costs not worth it? being able to buy 1000 shares of $50+ stocks seems very important to be a day trader.
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Old Aug 22, 2014, 7:59am   #2
Joined Sep 2013
Quote:
Originally Posted by Eager2Learn View Post
I am new to trading (been paper trading for two weeks now).

In no way am I affiliated with Tradenet or Meir Barak. Recently I have been looking for a broker to start day trading with. Problem is you need $25,000 in the US to day trade. I have around $10,000 to invest.

I also saw you can join Meir Barak's prop group for $10,000. This $10,000 is solely to join the prop group and have access to everything; you DO NOT get it back, it is a purchase. This purchase provides you with an account with $200,000 buying power. You keep 100% of the profits until you make your $10,000 back, and then any profits over $10,000 you keep 80% (this can be negotiated over time.. so they say).

So I am curious what is all the hate for tradenet? Granted you loose $10,000 to start, and 20% of profits thereafter, what if you do not have $25,000 to open your own account to day trade? Are the costs not worth it? being able to buy 1000 shares of $50+ stocks seems very important to be a day trader.
Check if they are regulated under US SEC or not. Do they have local offices in USA or it's just a website? It is easy to check their legal status, operations, etc. Check also if they underwent any independent financial auditing and any violations occured.
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Old Oct 14, 2014, 1:02am   #3
 
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Quote:
Originally Posted by Eager2Learn View Post
I am new to trading (been paper trading for two weeks now).

In no way am I affiliated with Tradenet or Meir Barak. Recently I have been looking for a broker to start day trading with. Problem is you need $25,000 in the US to day trade. I have around $10,000 to invest.

I also saw you can join Meir Barak's prop group for $10,000. This $10,000 is solely to join the prop group and have access to everything; you DO NOT get it back, it is a purchase. This purchase provides you with an account with $200,000 buying power. You keep 100% of the profits until you make your $10,000 back, and then any profits over $10,000 you keep 80% (this can be negotiated over time.. so they say).

So I am curious what is all the hate for tradenet? Granted you loose $10,000 to start, and 20% of profits thereafter, what if you do not have $25,000 to open your own account to day trade? Are the costs not worth it? being able to buy 1000 shares of $50+ stocks seems very important to be a day trader.
Hi

Did you open an account with them or not yet ?

I would love to know your experience

Thanks
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Old Oct 14, 2014, 9:07am   #4
 
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^the whole things stinks imho
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you don't really have an orange juice position do you?

Last edited by itspossible; Oct 14, 2014 at 9:15am.
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Old Oct 24, 2014, 10:20am   #5
Joined Jul 2013
I think itís quite simple Ė depends how good a trader you are!

Sounds like a good deal if you can trade, but not so good if you canít. Most people donít have the aptitude for trading Ė it takes a specific type of person, IMO.
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Old May 12, 2015, 6:06am   #6
 
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Hopefully you found elsewhere to put your money.
Mier is part of Colmex Pro of which stole money from me.
Tradenet prop room is as bad from reviews on investimonials
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Old Nov 22, 2015, 10:24pm   #7
 
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Joined Nov 2015
Tradenet Account

Hi Everyone.

I came across this post looking for reviews on Meir Barak after investing some money day trading with them.
I actually have an account with Tradenet and made the $10,000 deal where you get $200,000 buying power and keep 100% of the profits until you make your $10,000 back, and then any profits over $10,000 you keep 80%.
I cashed out when I reached the goal I set to myself and then went back again with a bigger amount of capital.
Their withdrawal policy is one of their benefits and what eventually convinced me to deposit again and keep trading with them. You stick to what you know, as long as I is beneficial to you, and right now their trading room + their capital to trade with along with the ability to take my money out at any time do the job.
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Old Jan 10, 2016, 2:09pm   #8
 
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Joined Jan 2016
Quote:
Originally Posted by Eager2Learn View Post
I am new to trading (been paper trading for two weeks now).

In no way am I affiliated with Tradenet or Meir Barak. Recently I have been looking for a broker to start day trading with. Problem is you need $25,000 in the US to day trade. I have around $10,000 to invest.

I also saw you can join Meir Barak's prop group for $10,000. This $10,000 is solely to join the prop group and have access to everything; you DO NOT get it back, it is a purchase. This purchase provides you with an account with $200,000 buying power. You keep 100% of the profits until you make your $10,000 back, and then any profits over $10,000 you keep 80% (this can be negotiated over time.. so they say).

So I am curious what is all the hate for tradenet? Granted you loose $10,000 to start, and 20% of profits thereafter, what if you do not have $25,000 to open your own account to day trade? Are the costs not worth it? being able to buy 1000 shares of $50+ stocks seems very important to be a day trader.
I agree. Trading and investing is a calculated risk, but it is always a risk. Sometimes it's better to risk little at a time and earn a little at a time - so you can always stay in the game.
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Old Jan 12, 2016, 8:04pm   #9
 
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I prop trade and use Tradenet for over 2 years now, and I’ve never been disappointed with their service. I find their intra-day live help in his trading room invaluable.
It’s really helped me work out where I need to focus my efforts. I started with the Self-Study course and it gave me 24/7 access and taught me things like screen configuration, moving averages and managing a watch list (among other things).
I have to admit, because there is a mix of professional traders and new traders in the trading room, I had to be careful what advice I listen too, as it can be easy to pick up the wrong information. That is why I decided to join their brokerage program. I got 2 brokers - Shlomo and Scott. These guys are professional traders and really confident in what they do.
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Old Jan 14, 2016, 11:17am   #10
 
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1. So, here’s the thing, I’ve been trading maybe for about 4 months or so, and I’ve been finding it quite hard. I just have trouble recognizing when I should trade, how to use the indicators properly and generally finding my way around the platforms. Then I found Tradenet. They’ve helped train me in all the places I’ve struggling with and I’ve learned more in the last four weeks than I have in all the other time. Meir Barak, who started the company, even took time to talk it all through with me. It bothers me a bit that there are so many people there giving their opinions, which can make things a bit confusing, but I tend to just listen to Meir and his advice has been spot on so far.
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Old Jan 19, 2016, 5:25pm   #11
Joined Dec 2015
Sounds good

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Originally Posted by Eliott Gray View Post
1. So, hereís the thing, Iíve been trading maybe for about 4 months or so, and Iíve been finding it quite hard. I just have trouble recognizing when I should trade, how to use the indicators properly and generally finding my way around the platforms. Then I found Tradenet. Theyíve helped train me in all the places Iíve struggling with and Iíve learned more in the last four weeks than I have in all the other time. Meir Barak, who started the company, even took time to talk it all through with me. It bothers me a bit that there are so many people there giving their opinions, which can make things a bit confusing, but I tend to just listen to Meir and his advice has been spot on so far.
Well Eliott, that sounds very interesting. I'm having trouble finding the right platforms for me to work with and sometimes i just really need guidance from someone who knows what he's (she's) doing. I'll check Tradenet if you recommend it then.
Thanks and good luck !
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Old Jan 21, 2016, 3:49pm   #12
 
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Absolutely

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Originally Posted by Daniel Stuart View Post
Well Eliott, that sounds very interesting. I'm having trouble finding the right platforms for me to work with and sometimes i just really need guidance from someone who knows what he's (she's) doing. I'll check Tradenet if you recommend it then.
Thanks and good luck !
I also recommend tradenet. Just now posted about how everything about trading is not the safest and when you're new it can be a struggle. And that struggle can be a bit easier with the right guidance. Like in every field i assume but this is really frightening sometimes!
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Old Jan 24, 2016, 2:35pm   #13
Joined Dec 2015
Exactly

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Originally Posted by Hate2Lose View Post
I think itís quite simple Ė depends how good a trader you are!

Sounds like a good deal if you can trade, but not so good if you canít. Most people donít have the aptitude for trading Ė it takes a specific type of person, IMO.
I totally agree. It's like in everything. Some musicians earn nothing, some can live off of it and some are billionaire superstars.
I use Tradenet as well and i live very well off of trading and my other occupations, hoping to one day become a superstar But investing money that you don't have to spare is not a thing to do, and investing any money is not something to be done impulsively!
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Old Jan 31, 2016, 5:46am   #14
 
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Quote:
Originally Posted by Daniel Stuart View Post
Well Eliott, that sounds very interesting. I'm having trouble finding the right platforms for me to work with and sometimes i just really need guidance from someone who knows what he's (she's) doing. I'll check Tradenet if you recommend it then.
Thanks and good luck !
Well, don't believe everything you read, and do some research yourself. But i do recommend from my personal experience. Just start slow and see how it is. Let me know. Good luck to you 2!
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Old Mar 25, 2016, 5:37am   #15
 
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Joined Mar 2016
Meir barak? You can talk the talk, but can you walk the walk?

Oh really? you were a Professional Trader? mmmm, Really? you were a Hedge Fund Manager? OK! All you have to do is look for their regulatory history in the geography they claim to have been a Professional Trader / Hedge Fund Manager. If a person has been regulated in the past to perform what is known as a "controlled function" / has been able to give investment advice and trade / invest "other peoples money," it means by definition they have ACTUALLY been a Professional Trader and / a Hedge Fund Manager. If they haven't then they have never been a Professional Trader / Hedge Fund Manager. It really is that simple!

If you want to take someone advice or that someone claims to be a professional trader, be sure you check their credential.

https://register.fca.org.uk/
http://www.finra.org/
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