Amplify Trading-my journey

[NetTecture]

Well, if a newb makes a 10.000 loss then AMplify risk managers are idiots. Sorry.

Switching people to real money should happen slow, with tight risks. Loosing 10.000 is not exactly something that should be allowed to happen in the first palce, suddenly.

 

[traderboi29]

Well, if a newb makes a 10.000 loss then AMplify risk managers are idiots. Sorry.

Switching people to real money should happen slow, with tight risks. Loosing 10.000 is not exactly something that should be allowed to happen in the first palce, suddenly.

yeah, maybe that example was abit too extreme. but you are absolutely right, trading LIVE is totally different from SIM and the transition should happen slowly and only once trainees have shown consistency on the SIM.

 

[NetTecture]

Yeah. So, lets say a risk of 10.00 is not realistic, but it still could be some thousand.

Anyhow, I think the deal is not THAT bad. Others pay up to 90%, but this is after one earned a lot - 50% is a decent starter number. Lets just hope that things go well

 

[traderboi29]

Yeah. So, lets say a risk of 10.00 is not realistic, but it still could be some thousand.

Anyhow, I think the deal is not THAT bad. Others pay up to 90%, but this is after one earned a lot - 50% is a decent starter number. Lets just hope that things go well

 

[Technically Fundamental]

OMGiamsojealousicantbelieveyoupassedamplify's4monthcourseandarenowofficiallyafuturestraderwhilei'mstuckherejustdoing100sofpostsadayandnowyoucanlaughatme

 

[winmoney]

it certainly is a fair deal. Amplify takes on a massive risk taking on new trainees while the trainee only risk 3k for those 4 months, if the trainee made a loss of 10k he can simply walk away after 4 months but it is Amplify that is left covering the 7k loss.

Traderboi, not stirctly true, as you will never be in a position where you lose more than you have put down in cash - They just wouldn't let it happen

From your statement, no one seems to be trading until the last 6/8 weeks of the 'course' so even if you lost the max amount everyday in those 6 weeks (which they would never allow) it would be less than your deposit

 

[winmoney]

hey Winmoney,

sorry for the confusion guys, no you don't clear losses with your own funds i.e. if you make a 1000 loss for the month you don't have to fork out 1000 to cover it. what i meant when i said cover losses was that if you was down 1000 for the month Amplify will hold those losses until you make it back into profit. If you decided to leave then of course they take the hit.So Amplify will cover ALL LOSSES but you won't get a profit split unless you are in profit.

hope that helps.

TB

OK, Thanks for the explanation TraderBoi - Good Luck with the future, you seem to be doing well !

 

[traderboi29]

OK, Thanks for the explanation TraderBoi - Good Luck with the future, you seem to be doing well !

hey,

your right, the risk managers would never ever let you lose that much and if you lost even a quarter of that you would be put back on the SIM. But if you was trading live for the last 2 months and making a loss of $225(maximum daily loss) everyday of those 2 months then you would lose $9000 which at the current exchange rate stands at 5,316pounds, so you would lose more than you paid for the training, but like you said, the risk managers would not let you lose anywhere near that amount.

but anyway, thanks for your support, much appreciated.

TB

 

[traderboi29]

Congrats tb - glad you made it :clap:

Thanks Pat, appreciate the support throughout these 4 months.

 

[traderboi29]

well done tb, good to see you grabbed the bulls by the horns. wish you all the best with the rest of the trading.

Hey RS300,

many thanks for your support, much appreciated, and all the best in your trading career.

 

[rafaz1]

Amplify Trading Program

2 things really, your either good and they ask you to stay on in which case you pay your desk fees every month and work towards moving inhouse or your not so good and you part ways,either you got it or you don't........

Hello TraderBoi,

My name is Zaf, I am new to this forum.

I understand that you have undergone the 4 months training with Amplify. Can you pleas update me as to where you stands regards the programme overall, i.e. have you been offered a position or has the program let you down?.

Thanks
Zaf

 

[traderboi29]

Hello TraderBoi,

My name is Zaf, I am new to this forum.

I understand that you have undergone the 4 months training with Amplify. Can you pleas update me as to where you stands regards the programme overall, i.e. have you been offered a position or has the program let you down?.

Thanks
Zaf

Hello Zaf,

i have finished the 4 months training and have been offered to stay on as a junior futures trader. But bare in mind i don't work for Amplify, as all traders are self-employed. hope that helps.

TB

 

[rafaz1]

Traderboi,

Many thanks for your speedy response.

Is it possible that I may have contact details, i.e. a phone number to speak to you about Amplify, as I scheduled to go on there seminar next week, with a view to attending the training program.

Also, it has taken me hours but I have read through the entire thread regards this subject, and has confused me further as there are many that are sceptical (and have even considered you to be an employee of Amplify, although not possible as your self-employed) poeple on this forum.

Did you trade early 7am to 4 pm or 1pm to 9pm?. Anyway some contact details would be appreciated.

Thanks
Zaf

 

[Claudia123]

Hello Zaf,

i have finished the 4 months training and have been offered to stay on as a junior futures trader. But bare in mind i don't work for Amplify, as all traders are self-employed. hope that helps.

TB

I for one don't like the likes of Amplify - however you stuck the 4 months and must have learned a lot. Be careful and be lucky. More important be successful. Well done. Keep the thread going it's interesting to see how you progress.

 

[fifty2aces]

it certainly is a fair deal. Amplify takes on a massive risk taking on new trainees while the trainee only risk 3k for those 4 months, if the trainee made a loss of 10k he can simply walk away after 4 months but it is Amplify that is left covering the 7k loss.

I doubt it's a massive risk, otherwise they'd presumably be far more selective in their hiring. No offence intended, but from the sound of things they'll take anyone who's willing to pay - if there was a big risk involved, they'd probably be taking on far fewer trainees, being more selective, and bringing them into the office immediately to give them the best chance of success - much like prop firms who take people on and train them for nothing.

I imagine they keep costs fairly low so that a decent chunk of the training fee can be put up as margin, and if someone looks like they'll blow through it, they can stop them trading - I guess you've been fortunate enough not to find out!

All that said, 50/50 is decent enough - I expect it rises as your size goes up (otherwise everyone who succeeds would leave and they'd be making money from training fees alone). I'd still be reluctant to pay for what sounds like basic training though, and I think you miss out on a huge amount by not being in an office with other traders.

 

[rafaz1]

Amplify - Zaf pls read

Morning everyone (UK anyway),

Yeah, Im really in two minds about Amplify and the whole trading career now as I have really heard nothing pursuasive to convince me otherwise.

I did ask traderboi for his contact details so that I could speak to him on a one to one basis privately but have not heard anything back.

The seminar I have been invited to is at Canary Wharf on 12th August at 6:30pm. Would anyone care to tag along? Claudia123 maybe you'd like to tag along seeing as you know more then me about trading yet sceptical about Amplify's proposition.

Zaf
07764 740392

 

[Claudia123]

Morning everyone (UK anyway),

Yeah, Im really in two minds about Amplify and the whole trading career now as I have really heard nothing pursuasive to convince me otherwise.

I did ask traderboi for his contact details so that I could speak to him on a one to one basis privately but have not heard anything back.

The seminar I have been invited to is at Canary Wharf on 12th August at 6:30pm. Would anyone care to tag along? Claudia123 maybe you'd like to tag along seeing as you know more then me about trading yet sceptical about Amplify's proposition.

Zaf
07764 740392

I am sceptical about these companies and it's the last place I want to go to. Thanks for the invite though. Quite happy trading from home by myself keeping 100% of the profit :clap:

 

[rafaz1]

Amplify Trading from Zaf

Hello Zaf,

i have finished the 4 months training and have been offered to stay on as a junior futures trader. But bare in mind i don't work for Amplify, as all traders are self-employed. hope that helps.

TB

I do not like the idea of remote trading.

Why cant we simply have a small desk in a corner somewhere within their offices?.

Please reply
Zaf

 

[rafaz1]

I am sceptical about these companies and it's the last place I want to go to. Thanks for the invite though. Quite happy trading from home by myself keeping 100% of the profit :clap:

Hello Claudia,

Well why don't you tell us in detail how you are trading, i.e. strategies, types of trades, markets and share you experiences thus far?

Thank you
Zaf

 

[Claudia123]

Hello Claudia,

Well why don't you tell us in detail how you are trading, i.e. strategies, types of trades, markets and share you experiences thus far?

Thank you
Zaf

Zaf

We all have different aims in life - I simply like to make a good living and I do that trading mainly cable although I do trade equities looking for long term return. Trade forex most days from home with a break out system. All I will say to you is whatever you trade keep your system simple and stick to it. Forget all the back testing and stuff.

My strategy on fx is place two orders at 7 am - one buy one sell. Which ever one kicks in then off we go. The hardest part of trading is knowing when to enter the market and when to exit. I don't have that problem my system tells me that. Next problem is money management.

This is quite easy - but that's because women are better with money than men!!

Good luck