Trader turned teacher at prop firms

forexanalyst

Junior member
26 3
Hmm. This is nonsense.

You can't decide on the quality of a risk profile based solely on a total return % unless you had a full understanding of every single applicable discretionary and automated trading methodology on the planet.

I made an estimation based on the fact that I have never heard of anyone able to return above 30% consistently over a long time horizon. If you know someone who has then give me his/her number :D

My point was not too expect unrealistic returns.

With regards to getting a proper job and investing in a tracker, it really depends on how much you can earn in a "proper" job and what is the opportunity cost of it (how much do you enjoy that job in comparison). Just like the trader coaches, it will change for different people.
 

Crunchy1

Junior member
18 0
My personal opinion is that all these teachers and seminars are complete scam. Nobody will teach you or tell you how to earn money ever and in this case to the croud. Maybe there are some legit courses that simply discribes you how this and that works but definately not those that theaches you to trade profitably.
 

Seenitallbefore

Junior member
18 1
You are cynical and wrong, my friend

My personal opinion is that all these teachers and seminars are complete scam. Nobody will teach you or tell you how to earn money ever and in this case to the croud. Maybe there are some legit courses that simply discribes you how this and that works but definately not those that theaches you to trade profitably.

Crowd, not croud.
Describes not discribes
Definitely, not definately
Self-education and improvement are prerequisites for success in any endeavour, be it trading or spelling. Effort and discipline are required.
I have been training and coaching people for 10 years and I can tell you categorically, that out of 100 applications that we receive, we stringently select 10, of those, 5 either we or they decide it's not for them, and of the 5 that remain, within a year they are making 20-100,000 a month.
Fact.
My best guy had a $700,000 day 2 years ago. And these are all disciplined, coached, risk adjusted returns, not wild gamblers.
You're right to exercise cynicism because they are too many scam 'trainers' out there who have never traded and know nothing. But there ARE also a handful of credible, successful ones, including me and a few others that I know.
Fact.
Why do they do it ? Apart from the kick of taking a newbie with no career and seeing them develop into successful, happy human beings, if I am on 50/50 with 10 traders making £10-100k a month, and once I've trained them and continue to coach and help them grow they do all the work, that's a LOT of money.
Go figure.
 

pboyles

Legendary member
8,072 1,303
Crowd, not croud.
Describes not discribes
Definitely, not definately
Self-education and improvement are prerequisites for success in any endeavour, be it trading or spelling. Effort and discipline are required.
I have been training and coaching people for 10 years and I can tell you categorically, that out of 100 applications that we receive, we stringently select 10, of those, 5 either we or they decide it's not for them, and of the 5 that remain, within a year they are making 20-100,000 a month.
Fact.
My best guy had a $700,000 day 2 years ago. And these are all disciplined, coached, risk adjusted returns, not wild gamblers.
You're right to exercise cynicism because they are too many scam 'trainers' out there who have never traded and know nothing. But there ARE also a handful of credible, successful ones, including me and a few others that I know.
Fact.
Why do they do it ? Apart from the kick of taking a newbie with no career and seeing them develop into successful, happy human beings, if I am on 50/50 with 10 traders making £10-100k a month, and once I've trained them and continue to coach and help them grow they do all the work, that's a LOT of money.
Go figure.

I have a feeling that you're going to offer us a marvellous chance to be mentored by you. Of course there will be a fee, just to make sure we're serious.
 

PualoP

Well-known member
402 36
Crowd, not croud.
Describes not discribes
Definitely, not definately
Self-education and improvement are prerequisites for success in any endeavour, be it trading or spelling. Effort and discipline are required.
I have been training and coaching people for 10 years and I can tell you categorically, that out of 100 applications that we receive, we stringently select 10, of those, 5 either we or they decide it's not for them, and of the 5 that remain, within a year they are making 20-100,000 a month.
Fact.
My best guy had a $700,000 day 2 years ago. And these are all disciplined, coached, risk adjusted returns, not wild gamblers.
You're right to exercise cynicism because they are too many scam 'trainers' out there who have never traded and know nothing. But there ARE also a handful of credible, successful ones, including me and a few others that I know.
Fact.
Why do they do it ? Apart from the kick of taking a newbie with no career and seeing them develop into successful, happy human beings, if I am on 50/50 with 10 traders making £10-100k a month, and once I've trained them and continue to coach and help them grow they do all the work, that's a LOT of money.
Go figure.

What firm you at?
 

Seenitallbefore

Junior member
18 1
No fees, profit splits

I have a feeling that you're going to offer us a marvellous chance to be mentored by you. Of course there will be a fee, just to make sure we're serious.

We are very careful about who we take as we in put a lot of time, money and energy in to our trainees. We have looked at the external training model whereby we charge people to train them but we don't think it works for them or for us.

If they pay us, we have little control over them and they can walk away when the going gets tough. We feel we get more commitment, control and mutual respect by making a JV partnership, whereby we give a lot for free in the early months and as the trainee gets profitable and better, the rewards grow constantly for us all.

Really, it's an honest, aligned, win-win partnership that over 10 years has proven to work. We have traders who have earned out their contracts and can leave us but very few do. Of those that have, quite a few have come back to us because they need the very subtle support and continuous professional development mentoring that only experienced mature traders can understand hand help them with.

Hope this answers your quite understandable cynicism. I don't blame you. There are so many 'training courses' out there by slimy, lying marketeers who have not can cannot not trade, with images of Ferraris and palm trees, mugging off gullible, desperate people in **** jobs with crap lives, and I think it's utterly immoral. The sooner the business is regulated, the better as far as I am concerned.
 

pboyles

Legendary member
8,072 1,303
We are very careful about who we take as we in put a lot of time, money and energy in to our trainees. We have looked at the external training model whereby we charge people to train them but we don't think it works for them or for us.

If they pay us, we have little control over them and they can walk away when the going gets tough. We feel we get more commitment, control and mutual respect by making a JV partnership, whereby we give a lot for free in the early months and as the trainee gets profitable and better, the rewards grow constantly for us all.

Really, it's an honest, aligned, win-win partnership that over 10 years has proven to work. We have traders who have earned out their contracts and can leave us but very few do. Of those that have, quite a few have come back to us because they need the very subtle support and continuous professional development mentoring that only experienced mature traders can understand hand help them with.

Hope this answers your quite understandable cynicism. I don't blame you. There are so many 'training courses' out there by slimy, lying marketeers who have not can cannot not trade, with images of Ferraris and palm trees, mugging off gullible, desperate people in **** jobs with crap lives, and I think it's utterly immoral. The sooner the business is regulated, the better as far as I am concerned.

So go ahead and tell us what firm you are at, then people can do their due diligence and see if you're as legit as you state. This will be a first I have to say.
 

Seenitallbefore

Junior member
18 1

My friend, I have seen too much mudslinging on this site to get involved. A failed and disaffected trader has the time and wish to spend too much time bitching, the successes have less time or inclination to get involved, so I have no intention of getting personal with either my name or details. No point.
I am not on this site to get business. Far from it, we get 1,000-3,000 applications a month ! I am on it to offer a little bit of experience and help to anyone who cares to listen.
I think if you look at my posts all I have ever given is truthful, helpful guidance. This is all I intend to do.
All the best
 
 
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