How many people...

Would you be prepared to spend £5,000 to learn to trade professionally by a firm?

  • Yes

    Votes: 23 32.9%

  • No

    Votes: 47 67.1%
  • Total voters
    70
trader_dante

trader_dante

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How many people are prepared to spend £5,000 or more if they are given the chance to learn to trade professionally by a trading/prop firm?

Not looking for people debating whether its worth it - just straight answers. Yes or no. Please answer honestly. This is not what it looks like.

If you don't want to give your answer publicly, you can PM me.

Thanks,

Tom
 
Last edited:
i paid about 3k for a course when i first started out a few years ago, total waste of money and probably set me back more than anything else
 
A few years back (5+) you would have expected to receive about £5000 to learn to trade at a prop firm. Refcos' deal was £750 for 3 months and then £1000 for the next 3. This was pretty much par for the course accross all the prop firms and becasue of this I would not pay.

However, for new guys it appears to be the norm to have to pay so maybe if I was younger I would just accept it as a cost of entering the industry?
 
Why not have a look at existing companies who already offer that service, and examine their accounts (via companies house) to extract a ratio of customer flow & fees within the industry perhaps ?

Might tell you how existing "trainers" manage to get bums on seats etc and crank out the order flow.Growth rates over x years achieved etc. Might give some pointers.
 
difficult to answer, without you defining a syllabus, and how you define "professional".
and how you "certify" a student as having passed. (eg, extra training if you dont get it first time)

I am willing to invest in myself, if I can be shown things such as;
recommended account size (some may be willing to pay £5K, but if, in order to trade professionally, they need a bank of £50K minimum, for example, they may decide the £5K, while worthwhile, they may not be able to get their hands on the minimum bank size)

a good track of record of past students who are still trading successfully 3, 5, 10 years after being trained.

anything likely to yield a good return on £5K is worth trying.

EDIT: some may say £5K is too much, but think of it as: if it means you lose 5 fewer pips per losing trade, and make 5 pips more per winning trade, through superior knowledge, that can help improve anyones bank balance.
 
I would still be prepared to pay £5,000 to train by a professional prop firm. Education for me is always ongoing and just another expense. However it would have to be training that gives me something a bit different from what I already have.
 
One ironic thing Tom, before I was a trader £5k would be a **** load of money to me, now it's more or less noise... so I could easily spend it now... indeed it's about 2 months desk+reuters fees... but I wouldn't have spent it beforehand.

And I still reckon that anyone asking for money to teach you is probably ****ing dodgy :)
 
trader_dante said:
Not looking for people debating whether its worth it - just straight answers. Yes or no. Please answer honestly. This is not what it looks like.
Click to expand...
It looks to me like it's a poll to see the whether or not peeps would be prepared to fork out £5k to be trained by a prop' firm. Either that, or it's a cunning Baldrickesqe plan to lure people into the voluptuous gooey den that is www.fatbirdsincustard.com
 
I heard TCA was charging 3-4k for training. Sounds fishy to me. Better off buying some trading books and opening a demo account, see how you go.
 
trader_dante said:
How many people are prepared to spend £5,000 or more if they are given the chance to learn to trade professionally by a trading/prop firm?

Not looking for people debating whether its worth it - just straight answers. Yes or no. Please answer honestly. This is not what it looks like.

If you don't want to give your answer publicly, you can PM me.

Thanks,

Tom
Click to expand...
Tom,
Now the answer is 'no' . But would like to raise my hands and say that I have spent more than £5k so far to reach where I am now and which is no where, but after 1.5 years of screentime I am seeing some light and glimmer of hope.
1.5 yr back I did had the option to pay £5k to get trained by a prop house but didnot go that way.
Hope this helps.
 
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