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I had a look at their webpage and downloaded their GPT Member Info Package. Their package deal with education, indicators and system setup is 19997 bucks. I think they life from selling their package no matter how they trade. I downloaded the free booklet "The Truth about Day Trading" almost basic stuff with some system promotion.
There is another program out there to make you a prop trader which costs you only 120 /140 $ for a one month evaluation period. After this period, if successful they want to introduce you to a prop group for a job:
Topstep Trader with their Combine. I would be pleased to post a link but I´m not already able to
Do anyone know about other programs or job offerings in the proprietary trading field? May we can collect them here?!
Hi Jones,
Thanks for your feedback. I attended the webinar, read their ebook and had a 1-on-1 webinar as well to discuss their offer. YTR does have a good business plan which is good for them :-)
You pay up $20000 and then they "allow" you to trade their prop a/c for 1 year. During this time they regulate the size of the trades you can take - does not take much intelligence to realise that the max allowed will be equal to your $20000 that you have paid. In return you will also be able to attend their online trading room, use their trading methods/indicators, etc.
For a trader who knows how to trade and simply wishes to trade a prop a/c - not worth it!
For trader who wishes to learn how to trade - not worth it either!
What is good about them is that they are not "pushy" - they tell you upfront what it is all about and then it's your call.
All the best!
Do they have any figures on the success rate of people who are learning and go on to succeed?
Also - did they tell you how many in their prop firm are now trading the firms capital after going through this process.
If they are a legit prop firm, it should be easy to check them out. If they do offer the chance to rub shoulders with genuinely successful traders, it's not that bad a deal.
What instruments are you allowed to trade when you go for the prop deal?
Here are my thoughts. I think YTR is nothing more than a prop trading firm that is able to keep large numbers of potential traders available, without actually having to pay them or commit to them. That way, they can always ride the horses that happen to be performing best as of late. They never have to go through any effort to switch horses to someone who has a hot hand and they always have a fresh group of candidates via the whole education and training aspect. It's pretty brilliant actually. They make money off the recruiting process, compared to typical prop trading firms that spend $ on human resources and bringing talent in.
I did get all that information during the 1-on-1 webinar I attended with Sash @ YTR but truthfully because I was not overly keen on it having seen that it does not make sense to me, I have thrown away my notes (what I do remember is that they focus only on the Spot FX). Maybe you could ctc them directly, get the information and make up your mind.
I thaught of putting a list together with Proprietary Trading Groups where you receive education and have therefore to pay for it. The thread was initiated from two threads I read about paid services to get a prop here on nexusfi.com …
