Thanks Jack,
Though I dont think we gave anyone a new strategy because I don't believe there's anything new under the sun when it comes to sales.
I mean if one wanted one could even go as far as thinking that I'm pulling off a slick counter-sales tactic of some sort here, it's all possible in theory.
But I believe that quality shines through at the end of the day.
I cant say I know much about Rick, though I did speak to him just before I joined. He seems like a nice enough guy but he's got definitely sales in his blood and that is his forte imo. Though from what he was saying my impression was that he does trade by taking take Richard's calls.
In any event I dont want to go any further into the realm of speculation on that one, especially because it didn't tip my decision as I was already convinced that Richard is the real deal and that their prop trading offer did have a structure that actually allows to some sort of future with them. Not at least because they allow you enough time (12 months) to pick up things and improve your skill with the programme that I went for.
Generally I would suggest to anyone completely new to trading the follwoing:
1) Adopt a long-term view on your trading activity. Look at it like an apprenticeship of 3 years or so and dont fool yourself into any sort of "quick-rich" thinking.
2) Spend time and NOT money in the beginning. Spend at the VERY LEAST 6 months reading up on all sort of things around trading and demoing before spending even a penny, there is so much for free out there.
The best things to look for are what I call the 3 pillars to trading: Method(aka strategy), money management (aka risk management) and trading psychology.
One has to master and integrate ALL 3 if one wants to have a chance at being successful. Get info on it, the vast majority is freely available on the net. I've spend without exageration at least 2000 hours in my 2.5 years watching charts, reading articles, books and learning different indicators and systems etc. During that time I spent about £1000 on stuff but the lion share of it were losses on a live micro account. I did more demoing though and demo is good if you look at it as a "flying simulator" imo.
3) Do not let figure play lure you into getting excited. It is theoretically possible to make $1 million from $10k by trading in a year. But I believe you stand a much greater chance of winning $1 million by spending $10k in lottery tickets.
4) I knew that I was getting ready when I had a greater sense of discernment i.e nowadays most of the time one look at some information about trading is enough for me to know if it is interesting to me or not because I know what to look for. Try and get that type of discernment for yourself.
5) Systems dont make money, you do. If someone puts you in a Nascar right now could you win the Sprint Cup series? Thats how it is with systems, you not only need a good system more than that you need to know how to work it.
Just pulling the trigger on e.g. any MACD divergence and thinking you'll make money is right about as foolish a saying you gonna win a NASCAR race by always pushing the accelerator. Trading is highly skill based and skill cant be acquired overnight.
(personally I cant stand indicators apart from volume)
5) Try and find people that are successful to learn from. There are a lot of people out there who are not sucessful, deceptive or even angry and frustrated. What can you possibly expect to learn from them?
Seek out the genuinely succesful people who want to teach. If you follow the advice given here over time it should be easier for you to distinguish those people and there are rather few in my experience.
6) Always bear in mind that it is all up to you and trading is very individual. You could have Tiger Woods teaching you for years and you could still not win any cup (or have 9 girlfriends in the same time)
Sorry Tiger, couldn't help it.
May be you'd could become far more successful with another great teacher because his/her teaching suit your style and personality more. In any event, so far I learnt a bit here and a bit there from different good people I came across to date.
7) Leap before you look, but know that leap you must eventually if you want results.
What I mean by that is that its essential to try and make sure that what you let yourself into is good in your opinion but in the same time no matter how much one tries "to make things sure" there is always a remnant of risk that has to be accepted. One must be very honest with oneself for that.
There you go, I think this is the best I got to say on that subject.
At the peril of sounding too pro PTC (but after all I did join them) all that above advice I knew and practiced before hearing about PTC (bearing in mind I only monitored them over a period of 6 months or so) and the reason for joining them was because what I found with Richard matched up with the above said advice of mine. Not saying that PTC is the best for everybody but it definitely feels right for me and this is how I'd think anyone should feel, whichever way one chooses.
Hope this helps and I think I've said enough for the time being.
May be I'll drop another response in a couple of months to let you know if I'm still in the game.
Wish me all the best as I do for you.