what does FUTEX do ?

An interesting Question, which is code for a "difficult to answer". let me try:

Each trader or trainee trader is kept under constant review. The trainers and mentors will discuss performance with the trader and also review his performance with managers. Its a continuous tweaking process.

Now, on the more specific question of parameters, that is a movable bar, but, so long as the backers feel progress is being made and the trainee is perfoming and learning well, then Futex will keep going as long as necessary.

Attitude v Aptitude. An interesting aside is that Futex never back people with the wrong Aptitude. The first to be asked to leave are those with the wrong Attitude. It matters not what their trading is like, if they are not dedicated and frankly are plain daft, they do not remain. Those with the winners Attitude, who for instance are always early, never miss figures, dont abuse the freedom, etc, are those who succeed.

Hi,

Thanks for the response. I'm sure readers out there, including myself, are all grateful for your time and effort on this thread.

A few further questions if I may:

1) Roughly, what is the ratio of traders/trainee traders to mentors? I highly doubt it's 1 to1, but is it maybe 3-5 traders assigned to one mentor? Or is it bigger than that, like 8-10 traders to one mentor?

2) You will probably roll your eyes at this question, but how many points/ticks on average are trainee traders expected to make. I should emphasize the word 'expected' here as opposed to 'actually', because I imagine that as Futex absorbs the cost of desk fees for backed traders you expect your back traders to recoup these desk fees in their trading as a bare minimum requirement. So all I'm asking is how many ticks/points roughly does it take to recoup this cost. I dont have any fantasies about trainee traders making huge sums of money daily, but its just that I've recently started a futures demo account and I'd like some kind of benchmark to compare my performance with your trainee traders thats all.

Thanks,

Pi

1. We have two full time trainers/mentors. Chris Morris and David Dukes. Both are active Traders as well as trainers/mentors. Plus our managers have an "open door" policy, and give q and a sessions and trading seminars. There is no individual mentoring as such, so taking that we have about 8 people in each course, the mentoring is 1 to 4.
Trainees are sat between successful traders are are encouraged to learn and share. Its Futex policy that "we grow bigger and better together". That is a most important form of mentoring.

2. We DO NOT measure success by counting ticks. We monitor CONSISTENCY. Its that simple!

If I wanted to prove to you I was consistent in my own trading via the partnership scheme, do you prefer absolute returns over risk adjusted returns?

A little off subject, but Futex would be happy to look over any provable track records if you feel if would help an application. In fact, it could only help (it could not really hinder, could it?)

Keep it simple, don't focus on returns, absolute of adjusted, the key word is CONSISTENCY and your past results should prove it.

Consistent in its simplest form means a steadily rising equity curve with small drawdowns. If you have that then 90% of the game is won and I'm sure any backer would love to talk with you about developing a relationship.

But if you don't have consistency, then who cares about absolute or risk-adjusted returns, and even how much money your account has grown by. For example, you could be up 100% on the year after having been down 70% at one stage. That sort of record, even though you're profitable over the year, opens few if any doors......

Got invited to FUTEX Assessment Test in London next 22nd Tuesday! Anybody else attending?

What qualifications does someone need to be taken on and funded by Futex,this is regarding
my son.