Prop firm

[mjim]

Hello
Has anybody heard of this prop firm Turn trading, owner seems to be ex Propex
Not much info on the web
says based in Japan, charges for "training" any reviews? good bad ugly?

 

[Trembling Hand]

Not much info on the web

Err and even less in your post?

 

[mjim]

Err and even less in your post?

sorry ,let me explain... just doing due diligence... there are so called prop firms whose business model seems to be to get hundreds to pay for a "test fee" and then hope majority fail .. so they don't have to really fund people....was wondering if this company is in the same category or not! did anybody had any experience or had any dealings..

 

[Trembling Hand]

sorry ,let me explain... just doing due diligence... there are so called prop firms whose business model seems to be to get hundreds to pay for a "test fee" and then hope majority fail .. so they don't have to really fund people....was wondering if this company is in the same category or not! did anybody had any experience or had any dealings..

Just name it.

 

[mcgrath111]

Just name it.

I think S/He is referring to https://www.turntrading.com/

 

[skc]

sorry ,let me explain... just doing due diligence... there are so called prop firms whose business model seems to be to get hundreds to pay for a "test fee" and then hope majority fail .. so they don't have to really fund people....was wondering if this company is in the same category or not! did anybody had any experience or had any dealings..

No direct dealings but looking at the website and the founder's linked in profile:


- The site claims that you could be funded with a real account with $10k capital. Clearly that will appeal only to the most green, undercapitalised of beginners. Which leads me to suspect that this business is selling education/mentorship first, and prop shop second.

- The site made no claim that it is a prop firm. In deed the subtitle is "the best learning solution to becoming a profession trader".

- The above doesn't imply whether he's a good trader or a good coach one way or the other. Looks like he's had real market exposure so a beginner could benefit.

- $10 trail for 2 weeks seems reasonably low risk.

 

[mjim]

I think S/He is referring to https://www.turntrading.com/

Yes correct I was, or was he asking me to name other's who are in the "questionable" pseudo prop business... TST is one that comes to mind ! lot of controversy... some interesting debates here: http://www.wallstreetoasis.com/forums/trading-firms-without-capital-requirments and here : https://www.elitetrader.com/et/threads/my-take-on-the-prop-firm-legislation.91062/page-2
It seems the next scammers paradise is this business model we had Horse racing trading softwares / Share education sellers and now this!

 

[OmegaTrader]

https://www.turntrading.com/gym/

I think this says it all.....

more info:

https://au.linkedin.com/in/nick-goold-2aba1163

If you are killing it former goldman sachs trader why ask for $10usd to teach beginners???

 

[Trembling Hand]

https://www.turntrading.com/gym/

I think this says it all.....

more info:

https://au.linkedin.com/in/nick-goold-2aba1163

If you are killing it former goldman sachs trader why ask for $10usd to teach beginners???

Maybe not. You don't really know his intentions and plans longer term. You don't know where this is leading. People always assume that if you're a prop or insto trader you only work three years then retire because you have more money than god and if you don't you are a failure. It just aint like that. In fact out of the ones that I know who are prop and stopped after a few years they have mostly been the failures. Some have made a heap and moved on but most of the real good traders who really know their **** are still doing it 10 years later or more.

 

[OmegaTrader]

Maybe not. You don't really know his intentions and plans longer term. You don't know where this is leading. People always assume that if you're a prop or insto trader you only work three years then retire because you have more money than god and if you don't you are a failure. It just aint like that. In fact out of the ones that I know who are prop and stopped after a few years they have mostly been the failures. Some have made a heap and moved on but most of the real good traders who really know their **** are still doing it 10 years later or more.

So it is a good idea to pay for turntrading services or not?
Are you affiliated wih turntrading?

 

[Trembling Hand]

So it is a good idea to pay for turntrading services or not?
Are you affiliated wih turntrading?

Only that I have worked for a firm he has worked for but that means nothing, Never meet him. I'm just saying that the fact he charges 10 bucks for something says nothing about whats available and what his previous success has been. You were implying that he must be a poor trader correct?

 

[OmegaTrader]

Only that I have worked for a firm he has worked for but that means nothing, Never meet him. I'm just saying that the fact he charges 10 bucks for something says nothing about whats available and what his previous success has been. You were implying that he must be a poor trader correct?

I was implying that it is not good value because it resembles other schemes that have been berated by the community. It seems tenuous would be a way to put it.

If it quacks like a duck...