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Dear Ruth,
I went to the Aberdeen's web site and look it through. If I understood the
situation right, you are going to be trained as a trader with a salary of
24K, then you would work as a SP trader with (non returnable) draw of 50K
against your 10% of the profit commission.
There is no requirement to pay them any money (you pay them for training)
or requirement to provide any trading capital (they will provide the
trading capital).
If what I have understood is correct, and you love trading, then it looks
to me as an excellent opportunity to learn how to trade. I would join them
and try.
There would be two more consideration.
First, is Aberdeen Inc. the best place to learn SP trading? In other worlds
who you would be learning from. I would meet with the "teacher"
("teachers") and "interview" them. What is the overall impression? (Gut's
feeling). What is there background, experience, who they learned from? Then
I would meet with "students". Principals could be the best traders in the
whole world, but could they teach? Talk to the best students. Are they
making 1-2M a year? How long are they with the company?
Remember, that even your money are not at risk you are risking much more
valuable commodity - your time, time of your life that is not reimbursable,
and once spend on the wrong learning it is waisted forever.
Second, the company building is beautiful (sky garden, etc.). But how
Aberdeen Inc. makes its money? Is it the profit from trading or the profit
for selling the trading dreams to the investors? (I guess, you can ask them
or/and look at some publicly available financial statements). If there
wealth coming from the trading profit then join them and you will share in
that wealth. But is their profit come from the salesmanship, than run as
fast as you could unless you are planning to became a salesperson.
Alex, wishing he would be 18 years old and graduating from college.
At 08:15 PM 11/2/99 -0600, Ruth Alexander wrote:
>Hi Realtraders:
>
>I am currently thinking of applying for a position with Aberdeen Inc. in
>Atlanta, and would like to know if anyone on the group knows anything
>about them? They mentor recent college graduates in trading S&P
>futures.
>
>I have done equity options trading successfully, but the S&P is new to
>me. Their website is:
>
>http://www.aberdeenatlanta.com
>
>Any feedback from veteran S&P traders about them, or your impression of
>the returns they are asking for (if they are realistic) would be
>appreciated. I am not affiliated with them in any way and am not
>promoting their company. I am just looking for a trading job.
>
>Best regards,
>Ruth Alexander
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