I love the fact that there are proprietary firms opening up just about everywhere now. Some don't even have offices. Some of these companies are just subsidiaries of larger clearing firms or individuals working from their home from a website domain that looks like a professional business, set up to sign people up under them just so that they can be compensated for the recurring commission that the company could make by having these individuals trade under their firms. Ameritrade, ThinkorSwim, and just about any other discount broker primarily make money off of your trading except they don't allow you increased margins like these prop firms do. So basically these prop shop firms profit from the back and forth trading of a person's pathetic attempt to try and make a career out of buying and selling a stock within the same day using an accelerated amount of capital to make the trade monetarily profitable after commissions. Essentially these day trading firms, otherwise called prop shops (its funny cause chop shops are illegal garages that hide and conceal the whereabouts of people's possessions, and prop shops are no different when it comes to the whereabouts of your capital that you put up which you are most definitely about to lose one way or another) give you 10:1 margin on the capital you put up to trade. They convince you that trading can be a profitable profession by selling you a dream. What they fail to tell you, is that the company is full of unsuccessful people (just like casinos in which the only people that make money are the owners) that are trying to capture profitable price fluctuations throughout the day. Just think about this practice for a minute and let me give you an example of what this practice is like. It's as if someone set up a gambling internet site that'll allow you to bet on the exact date in which you'll wife will go into labor. Although the event may have a seemingly predictable catalyst, the exact day or moment it will happen is beyond our knowing. Day trading is more or less the same thing. Your attempting to predict the stocks next move. It's pure gambling and it adds no value to the economy or anyone. By the way, if you ever hear stories about people making a ton of money daytrading it usually happens in small windows of time. For example the late 1990's dot com bubble made just about everyone who daytraded rich because stocks went up without fail. Like I said, extra ordinary events like that happen once in a blue moon, and so does the ability for one to day trade successfully in a given time period.
Here are a list of some of these gambling houses and oh yea, they now offer you training for thousands of dollars: Broadstreettrading.com - t3live.com - avatarsecurities.com - smbtraining.com