bund trading

Hi Guys,

i know that some of you are very experienced and i am really needing some advice at the moment and was wondering if you could help.

My position at the moment is that i am trading bunds outright from home with gni as my clearers and making an average of 5 ticks a day on 3 lots at the moment.

i am looking to move to somewhere like marex where they could 100% back me so i can move to doing 20-50 lots(and give them a split of course)

1.would they look to back me if i showed them 3 months worth of profitable trading statements?

2.do u think its better to be at home than in the city as my costs are £800 a month compared to £2000 in the city. dont mind paying more if im gonna pick up things from other traders.

3. do people who do 50 lots trade remote or is it too risky?


3. will i learn anything at somewhere like marex? ie, will the big guys tell me if they are long or short bunds or what way they think the market is heading?

4. Generally how long would you say it would take the average trader to get from 3 lots to trading 20 lots if he was constantly trying to improve himself?

i would really appreciate your help as i dont have many contacts in the trading game.

thanks

1. It would be better to have at least 6 - 12 months worth of statements.
You can have better size if you put some money on account say about £5,000 - 10,000

2. I suppose it depends on what size you are trading and how many round turns you do a day. The desk fees are steep for a beginner. In regards to trading in the office or at home, I would prefer at home, Most traders keep themselves to themselves not much sharing of information- worth while information.

3. People trade a lot more than 50 lots remotely but must have an account size to match most Arcades would like to see how you trade in the office first so that the risk desk and monitor you. Once they get a handle on your style of trading and are happy then remote should not be too much of a problem.

4. Once you get your mojo working it can happen very fast. But that lead in time could take between 6 months to 6 years. As your profits increase you simply are adding to your account and therefore you can add to your size, all based on what the margin requirements are and your average profits.

I would reccommend Schnieders Trading Associates as a good place to start.

Yer agree with everything Aston1t said.

Theres no point moving to the city and paying £2000 a month in desk fees if you are trading under 10 lots. You will struggle to be left with any meaningful amount of take home pay.

Also, if you get a deal where you dont put money down (they typically want at least 10k) you are likely to only get a 50% profit split. Do you really want to give half you earnings plus 2k in office rent?

However, there are advantages to being in an office if you are generating at least £10-15k a month in profits. By that time your trading size and market risk would warrent the faster I.T connections and infastructure support.

Sounds like youre doing well though, averaging 5 ticks a day (provided you arent doing tens and tens of trades a day to achieve that) is a good start. Try and get that up to 8 ticks a day on 20-30 trades a day then look to geting the size up. Keep that up for a couple of years and world's your oyester!