Speedyralph
Recruit
- Messages
- 5
Hello guys!
I used to day trade equities for a couple years and became pretty consistent towards the end of 2008. During the whole debacle with LEH, FNM, FRE, C, MER, and AIG the market became untradable for an intermediate day trader. There was new headlines every hour coming on CNBC pulling the market in opposite directions and it was just plain impossible to make an educated trade.
A couple of guys who were mentoring me at the time have informed me that their even thinking of quitting all together now since the markets haven't got any better.
Which brings me to the topic of FOREX.
I live in Miami, FL and I would like to stay living here. There's not that many prop firms out here to choose from or at least the ones that I know of. There's this one firm that checked off pretty legit in my rookie or amateur opinion. Stonehenge Capital Management SCM1 or Stonehenge Wealth Management SWM or Stonehenge Trading Inc. all owned by Steven Michael. Steven has one of the longest resumes I've ever seen! Like I said, everything has checked off OK. Steven has created algorithms which integrated statistical analysis to create trade signals for execution in the Foreign Exchange Market. Also, his CTA hedge fund is ranked top ten in Barclays. I think he manages 40mil. or something.
Here's the proposition to me.
$10K for three months of learning and trading his system in his trading floor. Profits are to be split 50/50 with the firm. After the three months, the trader has to pay a monthly of $1500 to trade and take profits of 50%. His trading system and a good feel of the market should be paying the $1500 a month and leave some extra money in your pocket, I was told. Six to nine month after your suppose to see some descent money come in, I was also told.
I haven't been able to dig any dirt or negative things about Steven nor the firm. Also, I've checked several of his credentials and membership in NFA and everything has checked off OK.
I need the forums help in deciding if this is a good option or if I should consider other alternatives to get into trading forex.
I forgot to mentioned another prop firm from Boston, MA. This firm was referred by one of my mentors when I used to daytrade. FXDLTRADING.COM if you go over to "Forms" and click on "Trader Opportunity", you will see the overview of whats offered.
Generally, I'm looking to get into a firm, as a trader, or as an assistant to a profitable trader that I could learn from and grow. I'm very disciplined and very dedicated and I have the patience and time to start this career change.
Any advice is greatly appreciated!
Ralph
I used to day trade equities for a couple years and became pretty consistent towards the end of 2008. During the whole debacle with LEH, FNM, FRE, C, MER, and AIG the market became untradable for an intermediate day trader. There was new headlines every hour coming on CNBC pulling the market in opposite directions and it was just plain impossible to make an educated trade.
A couple of guys who were mentoring me at the time have informed me that their even thinking of quitting all together now since the markets haven't got any better.
Which brings me to the topic of FOREX.
I live in Miami, FL and I would like to stay living here. There's not that many prop firms out here to choose from or at least the ones that I know of. There's this one firm that checked off pretty legit in my rookie or amateur opinion. Stonehenge Capital Management SCM1 or Stonehenge Wealth Management SWM or Stonehenge Trading Inc. all owned by Steven Michael. Steven has one of the longest resumes I've ever seen! Like I said, everything has checked off OK. Steven has created algorithms which integrated statistical analysis to create trade signals for execution in the Foreign Exchange Market. Also, his CTA hedge fund is ranked top ten in Barclays. I think he manages 40mil. or something.
Here's the proposition to me.
$10K for three months of learning and trading his system in his trading floor. Profits are to be split 50/50 with the firm. After the three months, the trader has to pay a monthly of $1500 to trade and take profits of 50%. His trading system and a good feel of the market should be paying the $1500 a month and leave some extra money in your pocket, I was told. Six to nine month after your suppose to see some descent money come in, I was also told.
I haven't been able to dig any dirt or negative things about Steven nor the firm. Also, I've checked several of his credentials and membership in NFA and everything has checked off OK.
I need the forums help in deciding if this is a good option or if I should consider other alternatives to get into trading forex.
I forgot to mentioned another prop firm from Boston, MA. This firm was referred by one of my mentors when I used to daytrade. FXDLTRADING.COM if you go over to "Forms" and click on "Trader Opportunity", you will see the overview of whats offered.
Generally, I'm looking to get into a firm, as a trader, or as an assistant to a profitable trader that I could learn from and grow. I'm very disciplined and very dedicated and I have the patience and time to start this career change.
Any advice is greatly appreciated!
Ralph
Last edited: