what does FUTEX do ?

Hi Simon,

Seeing as nobody answered i'll try and help. I can't speak for Futex as I dont work for them, but I have been trading at places like Futex for about 6 years.

Trading is not like being a doctor or pilot where you complete your classroom theory and then you know how to trade and your career grows exponentially from that point. It is more like being a professional sportsman, you can learn the rules of Golf and have some lessons but doesnt mean you're going to be Tiger Woods.

To be honest its very hard to predict who will make it and who wont. But there are a lot of traits "successful" people seem to have such as determination, adaptability and a passion for your chosen field. Most trading houses are filled with semi pro sportsman, top musicians, people that graduated top of their class at university. Not necessarily because this demonstrates intelligence, more that in demonstrates that the candidate has been through a tough learning curve before and learned to adapt and grow.

Some places do look for degrees in finance/maths. However some of the best traders i know never went to University, and it is in no way an indicator of how well they will do (infact I have noticed a negatived correlation with people from a scientific background and trading as they tend to deal with certainties 2+2 = 4 always, whereas the rules are always changing in trading and they seems to stuggle with that and end up never putting a trade on, but this is another thread entirely). BUT if you are getting 1000 applicants for the job (not unheard of) they probably use academics just as a filter as its the easiest way.

But you seem to be a very supportive Father and that is an essential asset because if your Son does go into this field there will probably be some pretty low moments before he hopefully turns it around and becomes a huge success

Feel free to PM me with any questions.

Tom

TOMMOG has made a very accurate summary of the "traits" one looks for when looking to sponsor a trainee in trading.
To further expand, Futex are looking for people who are hard working and have earned a good degree. It does not really matter in which field, although economics, politics, psychology, finance would all have direct positive impact.
Recently, we have decided to recruit 18 year olds who have opted out of university, but again, what will we be measuring is their success and achievement. Therefore only those with good GCSE's and A levels would be considered.
It is important to be rounded too, so success and achievement in non-academic fields counts just as much.

Do trainees get a choice as to which software they can use to trade? And is Ninja Trader available for Futex traders?

Thanks

Pi

Futex use TT (trading technology) and Stellar. There is a variety of information and charting systems to complement this. Bloomberg, CQG, Reuters, Analysts, etc etc. We currently feel Ninja Trader and many others are well short of our professional level entry requirements.

Oh, and no, the trainees would not be choosing, we would put them on the best system for their chosen market. Please note the trainees, in consultation with their trainers and mentors, do chose their own markets.

How did the assessment go?

Whats the difference in miliseconds between your office in central London and trading from a bedroom in central london in putting an order ? Is it so significant ?

Won't matter how fast it is if you pick the wrong direction, will it?

from picking to getting your order filled may be a long way