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

[Eager2Learn]

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.

 

[gerryg]

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.

 

[smart_trader]

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

 

[itspossible]

^the whole things stinks imho

 

[Hate2Lose]

I think it’s quite simple – depends how good a trader you are!

Sounds like a good deal if you can trade, but not so good if you can’t. Most people don’t have the aptitude for trading – it takes a specific type of person, IMO.

 

[cj trader]

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

 

[Aaron Cole]

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.

 

[Tracy Richads]

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.

 

[Mark Spencer]

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.

 

[Eliott Gray]

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.

 

[Daniel Stuart]

Sounds good

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.

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 !

 

[Tracy Richads]

Absolutely

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!

 

[Daniel Stuart]

Exactly

I think it’s quite simple – depends how good a trader you are!

Sounds like a good deal if you can trade, but not so good if you can’t. Most people don’t have the aptitude for trading – 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!

 

[Eliott Gray]

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!

 

[kelvinyau317]

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/

 

[NVP]

Seriously ?

Seriously ?

Mods ?

Anyone ?

 

[dstrtb954]

tradenet

I Joined tradenet several months ago and as a new trader it has been very beneficial to me. Teaching me the ins and outs of day trading and having seasoned traders there to really help guide me through all the hurdles of becoming a trader. I would recommend tradenet to anyone who wants to take the next step to becoming a professional trader.

 

[iq200]

Interesting that all the people touting Meir Barak/Tradenet have LESS THAN TEN posts!

 

[lexcorp]

Interesting that all the people touting Meir Barak/Tradenet have LESS THAN TEN posts!

True. Does look a bit dodgy

I can't speak for the tradenet side of things, but colmex have been around for a decent while now, and I've not heard a great deal in the way of complaints if i'm honest. Only that their commissions are a little on the high side. When they first popped up, I dismised them as I imagined that they'd head for the sunset and disappear with everyones money , but that doesn't appear to be the case!
I've spoken to Mier before, and to be honest he seems like a pretty genuine guy from what my instincts tell me at least. He's certainly very transparent in his trading room which is very unusual in this industry!

I'm actually considering opening an account with them to trade CFD equities. I already have futures and spreadbet accounts, but want to try my hand at equities, but don't want to chuck the 25k required under the PDT rule at it, so the CFD route is tempting. I like their platform too.

On that note, does anyone here have a colmex account? What has your experience been like? Are there any platform fees? Any issues with withdrawing money or 'hidden' fees etc?

cheers

 

[Wil_Jo]

My experience with tradenet

Hey guys, just thought that I should give a fair and honest opinion about them after following the trading room for about 6 months now. The tradenet trading room is in my opinion one of best out there. The team of analysts led by Meir and Scott call out their trades live and are transparent and honest with their trades. It's certainly worth the money if you're looking to learn how to trade or simply get your toes wet, the analysts will even explain the rationale for their entry and exit points, and review any trade ideas which the subscribers may have.

After following them for a couple of months and comparing other educators in the field, I decided to take the plunge with the $500 intro program, just to get a feel of what it was like. If you are new and cannot find a platform to get started, you should seriously consider this program as it also includes access to the trading room and 24 self-study course for a certain period of time. Meir is frank about how the intro program is simply an opportunity for newer traders to experience what trading is like, but is definitely not sufficient to take on trading as a full time career. You also have the option to upgrade to one of the higher programs which provides a bigger account value, and also access to amazing courses such as the intensive star trader course, which covers almost everything you need to be on the path of earning consistent profits to be a successful trader.

Would definitely recommend tradenet to newer traders out there. They even offer a 14 days free trial trading room access to anyone who wants to get a feel for how good they are.