Q – Where do I have to go for the training?
A – With today’s technology, all training is done from the comfort of your own home or office, online. You will have access to high tech online rooms with application sharing, voice, and reliable connections for excellent visual and audio presentations.
Q – Where do I trade from?
A – Just like the training, everything, including trading, can be done from your home or office.
Q – What kind of computer do I need to trade?
A – Any recent model purchased the last two years should be fine, the more RAM the better. One large monitor is a minimum, two is better. A high speed internet connection such as cable or FIOS or better is best.
Q – Can I trade part time?
A – Yes, you can trade any hours or time you want, and take any time off you want. You can work around another job to start. Remember though, we are trading the American stock market, so you do have to be available during regular trading hours.
Q – How do I receive my share of the profits?
A – You can withdraw profits the first month you make them. Simply request a withdrawal via email or fax during the month. Profits will be paid out once per month.
Q – Am I an employee, are you ‘hiring’ me?
A – No, you are trading a firm account and receive a K-1 for tax purposes. A K-1 is a tax form that is reported to the IRS. It simply shows your profit or loss and what type of activity produced the profit or loss. You should discuss tax questions with your tax professional.
Q – How often is the training program offered?
A – The program will be offered roughly every 6-8 weeks.
Q – Is there a way to get started with education and practicing before the next course?
A – Yes, ask your Pristine counselor about our quick start home study option.
Q – Is there a limit on the number of traders?
A – Once we have 100 traders we are going to evaluate the program and progress of current traders.
Q – Who is eligible? I am interested but I am not US citizen.
A – This program is now open to anyone.
Q – I have prior education including at Pristine, do I have to take the course?
A – Yes, the program is designed to teach you how to make money on shorter-term day trading methods, and on very short term scalping methods. In addition to the Pristine Method of scalping, Prop trading strategies are taught.
Q – How does tuition reimbursement work?
A – You are entitled to receive 100% of your education expense reimbursed via an increased payout from 70% to 90% until reimbursement is complete.
Q – Are there any pre-requisites for this course?
A – No, we teach you everything you need to know to trade firm capital.
Q – Can I hold positions overnight?
A – No, prop trading offers you large buying power and low commissions but that is brought to you by the low risk environment of not holding positions overnight.
Q – Can I trade my own account and also trade this prop account?
A – Absolutely. Many traders will have the prop account to earn larger buying power, and keep their own account which could be used for overnight and longer-term positions.
Q – What can we trade – stocks, futures, ETFs?
A – We trade US equities. This DOES include ETFs, which can include leveraged plays on sectors and the market as a whole. We do not trade futures, options, or Forex in this prop program.
Q – Is the trading platform limited as to the number of stocks we can look at?
A – No, you can monitor any stocks you like, like any professional platform.
Q – Will the Pristine Method Trading Room be affected in any way?
A – No, discussions in the PMTR will continue to be for students of the traditional Pristine Method.
Q – Can I use my own trading platform, such as Realtick or Tradestation?
A – No, prop traders must use one of the Prop firms platforms.
Q – If I do not do well, how long can I trade?
A – This is at minimum a six month program. We want to keep and breed successful traders, so if you are above level three you will stay on. If you are not, options will be discussed about whether you should continue and your options to continue if you desire to.
Q – What is the profit splitting percentage?
A – We start at 70% for the trader and 30% for the prop firm, and can go as high at 98% for seasoned traders. Pristine Prop Program grads get an increase to 90% payout until their tuition is 100% reimbursed.
Q – How does the advancement table work?
A – You must meet your weekly profit target two weeks in a row to advance to the next level. If you hit your weekly maximum loss two weeks in a row you are demoted. If you do neither, you stay at the same level. See your prop firm representative for more details.
Q – I already am a profitable trader. Can I show profitable monthly statements from my broker and join without taking the education class?
A – If you are already a profitable trader, and can show three months of statements, you can join the prop firm but must deposit a minimum of $5000 in risk deposit. Profitable independent traders negotiate a higher payout and lower trading fees.
Q – If I am interested in putting up risk capital as an independent what type of commission rate can I qualify for?
A – The most active and profitable traders can negotiate some of the best rates in the industry.
Q - Are there any other fees involved?
A – There is a $69 per month risk/admin/accounting fee, and depending on the platform there may be data feed charges.
Q – Do I have to pass the Series 7 Exam or do anything else to register?
A – Traders do NOT have to pass the Series 7 or any other examination, but they do have to be fingerprinted by the prop firm and registered with the CBSX.