TradingMan

To wsam28 not all swifts trading offices are like that anymore, well not to the degree you mention at the office I'm at anyhow. They hire you as an indepentent contractor (no trading experience necessary). After 2 days of theory and a short test, you get moved to the computer doing simulation for 2-3 more days before you get to trade live. The office I'm at didn't mention anything about credit trading and no one I know of does it there, I think thats because its too risky nowadays. And from everyone else I've talked with no one is scalping at 10,000 shares (yet its still a fairly new office though). The highest are a few guys at a 1000. They still start you trading at a 100 and allow for a 3 cent trading loss now. Although it's really frowned upon if it happens, especially if you hit anything over this. The office I'm at also doesn't churn you to make hundreds of trades. I average around 40-50 aday because I'm still a beginner and you make mistakes and should learn from them. The number of trades should be decreased over time as you get better reading the markets and with your entry points. I think its about quality over quantity. You also have up to 5 months to make $2000 dollars if you want to advance from student to trader (they call it graduating) before you start getting paid. But I think if you're not cutting it after 3 months, you get let go. The commisions are similar to the scale you mention but it also depends on where your office is located as I know they have offices in China, Phillipines, Malaysia etc. Anyway I've been with Swift for almost a month and so far the experience I've gained as a trader has been quite valuable. It's allowed me to learn the basics of day trading and learning from my mistakes without having to invest any of my own money. Although you can look at the oppurtunity cost of not getting paid for 5-6 months over having a full-time job elsewhere. But I don't have any major expenses to woory about at the moment so the opportunity to learn how to day trade is perfect for me. I supplement my living by having a part time job tutoring so it helps with the minor bills.

I'm new to the forums and found your trading plan video quite good as I'm a beginner day trader trying to learn the ropes. I guess you have other videos on the site that I'm on my way to checking out. Great site by the way.