Trading Arcades have had their day

Pualop,

Yes, what you say is true you definately dont have to be restricted to TT xtrader
the options are vast , I personally use TT x-trader out of choice your just
adding even more credence to my argument that Trading Arcades are limited and well
overrated....... if you traders dont care about x trader then they can trade with zero
platform fees , bottom line is arcades are a total waste of money, time and time again
you´ll here some inexperienced traders say "I want to be able to communicate with
traders around me blah bla blah" well the truth is if people are making money and are
busy in the markets they havent got the time or desire to talk or help you lol"
Ive been around so many Arcades in the city and seen younger or smaller traders get told
to sod off, lots of inexperienced traders think because they are giving a split the
company has a vested interest in you.....wake up its bollo%% the only thing that is
worth anything to anyone is your commission generated and if thats the case then you
might aswell give it to the guys that will give you the best service not an Arcade! I
recently visited an old pal who runs the programm at one of the most respectable
arcades in the square mile and he said he couldnt give a monkeys about your split
the split so to say exists in order for the houses to pool your funds together into non
segregated accounts and achieve better financial status, thats why if you approach
an Arcade and say you want a 100% no split seg account you will be told 25 k sterling
minimum, because they cant lump your money together then to satisfy their margin
requirements, go to an FCM and they will start with as little 5 grand or ten depending
what you want! Some of you Arcadites actually think theyre gonna give you a 300 lot
with 5 grand in your account if you think that your buzzing on drugs. Stop giving them
money for old rope if anything will give even a lesser experienced trader a fighting
chance ....................its having smaller costs for a start!!!

WP,

I contacted an FCM and it appears that your right on those figures, am feeling a tad
sick actually, what are they like though if your having a down day, do you have a daily
stop agreed with them like at an arcade or what?

No, there's no risk manager watching over your trading. You can blow your entire account on 1 trade if you wish. The only time that you won't be able to trade is when you don't have enough margin in your account to open a 1 lot.

gmarx,

Thats right basically they let you get on with it, Iam sure if youve got any brains
you will allocate a daily stop for yourself and trade with the scruples you should or would do anywhere else but pualop is right they let you get on with it anywhich way you see fit
and dont hold your hand, if you want to burst a tyre one one trade the choice is yours,but you wont be stopped from trading till youve run out of money,but personally for me that suits me much better than some dopey risk manager at an arcade imposing his view on me , Iam big and ugly enough to do it for myself and if I cant do that I probably shouldnt be trading anyway.

Paulop,

Did you used to be at an arcade too in the old days?

I too am being fleeced at a prop shop,

Sorry for my ignorance but can anyone please tell me what FCM is?

Is it Futures commision merchant?

spreader01,

Join the club lol, yeah its a futures commissions merchant.
your not the only one, seems like we all are beeing fleeced
it looks like we are paying them so they can have a posh
address in the city at our expense, have been feeling like
a wally for most of the weekend.

Excuse my ignorance but how does a FCM differ from a futures broker that offers low intraday margin eg $500 on the ES? Isnt that a form of credit given that the exchange requirements for margin are higher? I see some FCMs are brokers.


http://www.futuressourcebook.com/Bro...ts-ct75456.htm