Shaolin Spread education

Mikey, get over it.... they're hiring at maccy ds....

Arb emm and what would you do with someone new into the game. You would just let him trader outrights in order to save some commisions. besides there is a new programme in liffe where combined with the low comissions of the arcade and the rebates we end up paying around 25p/lot. kinky?

i never said anything about the training or expressed an opinion on the company. I said what I said which was check the commissions, as they are particularly relevant when trading spreads to get onto flys, or more complicated spreads.

if what you say is correct, then it doesnt sound like they are a problem - though LIFFE's new blood rebate rates only last for five months or so dont they

Mpoufos,


I have nothing to do with shaolin only experinec with the owner at another firm. i was offered a contract to trade for said firm but turned it down because of the follwong reasons:
1. the commisons where way to high
2. ALL financial risk was taken by the trader
3. They require me to put some of the capital up which at the time i couln't do
4. From my experienc at the time and from talking to other traders there i had little faith in them

I could go on

Basically it was a bad deal the only differemc is that this guy might have the pleasure of paying a grand to find out. Saholin could be different but i would approach with caution.


Mikey, get over it.... they're hiring at maccy ds....

cheers for that mate, tell your superviser i'll be in touch soon, what are they paying cos i wont get out of bed for anyhting less than 4.50 ph

I didnt say that u expressed any opinion about the company. I was reffering to mickey on that one. Liffe's programme lasts for 4 months and its very useful for someone new cause effectively in these 4 months you are trading for free. At the end of these 4 months assuming that you have a steady trading course u will be able to decide if you are in or out of the game without losing your capital and getting a relative experience by trading live and not in the sim.

I am not aware of the deal decided by shaolin for the new blood but anyway I am gonna bulletpoint ur above arguments.

1. our commissions are extremely cheap, I believe arbitrageur would agree on that.
2. Financial risk is taken by the trader by the amount of his risk capital. For ex) if he puts 5k his risk is limited to that amount. Shaolin is liable for any further losses.
3. I am not so sure if they require capital anymore or if they are gonna back the new traders. That u have to discuss with the director.
4. I had also the same fears as u did at that time, but i took the risk at that time and I dont think i will ever regret it. This is what i wanted to do, did my research, also discussed with a few traders (nobody was also very supportive on my decision as i recall), but I still did it. It doesnt matter what others say or think or have heard. Its good to gather opinions there and there, but your final decision should not be biased by any site, thread or discussion board. I am not sayin that they are evil but for gods shake. Y dont you create a thread called " The anti-arcade". Lets all be logical, there are 99% negative threads about arcades and 1% supportive on arcades or prop shops that are paying salary.

My question is this. Each arcade has I dont know 200- 300 in? Do they all complain? Do they all wanna leave? Arent there some making a serious amount of money? Do they all haev bad deals? It is this risk-reward relationship that drives this profession. Sure you could say that a prop shop is good cause its paying a salary but y dont u ask about the profit split? You think they are gonna pay you a salary and provide you with a decent profit slpit?

As a graduate I had the same skepticisims and if I was back then I would still go for the salary ones. Unfortunately I didnt get into any as I had to pass 2345234 tests 3-4 interviews and I hadnt graduated from any red-brick uni.(which under my opinion dont define a good trader). I joined one of the arcades , put down my own capital, no experience nothing, and has turned up to be one of the most brilliant moves of my life. It doesnt matter what others think about you, it doesnt matter if you are from LSE or Oxford, all that is matters is what you believe about yourself and thats the key not not only into trading but in any profession.

Nice post Mpoufos,

Sounds like you guys are getting much lower commisions than what we were offered at the time. i think it was 1.26, which isn't crazy but will make a big difference at the end of day. The deal we were offered was very similar to yours only that if we put down 5k and did our nuts then we would be liable to anything over the 5k.

I definatley agree with what your saying with regards to its the person who decides how successful he/she will be, not the choice of the arcade. I'm not anti arcade i just think you should give yourself the best chance of success.

I still dont think that the original poster should have to £995. To me it just doens't imply that the company running the scheme have much of an incentive to help you achieve your goals.

I'm glad it has worked out well for you.

I know which company you are talking for and I am with you on that one. Its crazy... These companies yes should be avoided but we shouldnt put all the companies into one box. With threads "stay away" , "they will take all your money", "big mistake" , and I am not talking only about you , I am referring to all those negative threads where they dont have any evidence to support their posts. If I see smth completely outrageous i will pm the guy and ask him what happened with that company cause I am really interested. Anyway I dont have any personal interest with these posts I just trade through them and use their system. I just wanted to share my personal experience till now, cause I got tired watching threads "BE VERY CAUTIOUS". If i ever burn out of the game I will blame my self and not any arcade or prop shop.

Take care