Knowledge to Action - Prop course

[erobbs]

Hi all,

I am new to FOREX and this forum.

Not sure if this has been asked before, but I was wondering if anyone has done/looked into K2A's prop course.

I went to their free 2 hour seminar a year ago for their ultimate course, and thought it to be a sales pitch....

I was given a call by these guys last week to talk about a new Prop course that they have.....they give more advanced strategies in it, and when you are done, you can be a prop trader for K2A - they give you 20k of their money to trade with, and you get to keep 60% of the profits.

Anyway...give anyone has any thoughts, I'd appreciate it.
Thanks
Ed.

 

[Pharaoh]

Do they say where this tradinng money comes from? Do they say what percent of their students get to trade for them? How much do you have to pay to be trained by them? Is it a flat fee, or are there ongoing expenses?

 

[erobbs]

Do they say where this tradinng money comes from? Do they say what percent of their students get to trade for them? How much do you have to pay to be trained by them? Is it a flat fee, or are there ongoing expenses?

Pharaoh,
These are all very good questions. From what I know; they provide the 20k to trade with, (and you get 60% of the profits). Apparantly if you do well there is scope to increase the trading account up to $1m.

The course is $7k for a 2-day course, you get 3 1-on-1 sessions with a senior trader afterward, plus on-going support re trades (and they provide end-of-day trades to be placed)

I don't know what the percetage of people end up doing this (I assumed 100% if they want to - but still subject to actually being successful in it - which is fair enough - and from my perspective, if I am not going to be that successful, I would rather lose their money than my own)

I dont know if there are any on-going costs - I know that for K2A's ultimate course, you need to subscribe to their e-signal platform for $100/month. I probably should assume this, but I would have thought that if you are working for them, they should be providing the software for you to be able to do so.

This is why I was hoping someone here has done it or knows how it all works. (Cant really take the salesman's word for it). So far havent been able to find anyone who has.

Many thanks.
Ed

 

[Pharaoh]

Let's see - $7k for a class. Run 3 people through it, let 1 trade with $20k, and there's no need for outside funding at all. If there's some sort of ongoing fees, this could end up being a very profitable endeavor even if your 1 in 3 best traders blow their accounts.