Arcades - a good option for new traders

[TWI]

Be careful who you choose to work with. There are a lot of arcades that are looking to make a quick profit from costs and do not help to nurture the traders as a long term investment.
As for CQG. I wonder whether you were refering to the place where I work. We have a 1 in 3 CQG share but the desk fee of 1350pcm includes that, easyscreen, mms and a great environment. I think there is profit in that but not a lot compared to what is made from the over 1mln lots per month of transaction income.
mcdoma, if you want to chat about this before you make a descision mail me privately. I do not have any vested interest in any particular arcade I am just one of the spread monkeys that works in one but I have learned a fair bit about what not to do.

 

[BBB]

Twalker - no I dont think it was. As a clue, they began with the letter M. I'm sure you know who that could be, but don't think it wise to name them in public unless I have the right facts.

 

[TWI]

Yeah, I know exactly who you mean.

 

[colincolin]

hi i have 30k in my capital spreads account and am looking for a trader with a good track record to bet for me as I am involved with several businesses and have not had time to learn to spread bet as I had hoped to ,you mention some trader i your arcade are making 100% a month I have vey large funds ifthese returns are still possible ? do you think you could point me in the directionof a trder who could help me ,thanks Colin

 

[crude_lover]

well your going to find it hard finding a trader whos will "bet" for you as no real trader see's what they do as a bet

 

[TWI]

Wow , this thread is from 2004 and suddenly revives...strange reading those posts.
Colin why would anybody want to trade your money for you anyway? If making 100% pcm then better stick to your own capital and give finger to others. If i could give money to a number of locals who make 100%/month I would really have it made so if you find a few that are willing please mail me with their contact details.

 

[colincolin]

Wow , this thread is from 2004 and suddenly revives...strange reading those posts.
Colin why would anybody want to trade your money for you anyway? If making 100% pcm then better stick to your own capital and give finger to others. If i could give money to a number of locals who make 100%/month I would really have it made so if you find a few that are willing please mail me with their contact details.

Hi Thanks for the reply .I am fairly new to all of this but I do have substantial funds to inverst so I though of offering 50/50 split to traders with a good track record but who can trade hiher volumend if extra funds were available I will keep looking but I wonder if you could do me a favor and let me know if you are still making money in these volatile markets s if extra funds were available .best regards Colinn

 

[fifty2aces]

Hi Thanks for the reply .I am fairly new to all of this but I do have substantial funds to inverst so I though of offering 50/50 split to traders with a good track record but who can trade hiher volumend if extra funds were available I will keep looking but I wonder if you could do me a favor and let me know if you are still making money in these volatile markets s if extra funds were available .best regards Colinn

The point is that it just isn't worth the trader's effort. If you can make 100% per month, you'll quickly reach the limit of how much capital you can trade - if you start with a £10k account and double up each month, theoretically you will be worth £40 million in a year. Obviously this is highly unlikely due to lack of scalability, and in reality the account will be "maxed out" in less time.

Any trader who can consistently return 100% per month is going to be much better waiting a few months and trading their own account up to maximum capacity, than trading someone else's money for 50% (which is pretty low, by the way). The only exception would be traders who are undercapitalised, but generally they don't have track records - otherwise what money were they trading to get their record?

 

[TWI]

The only way to do this in reality is to start an arcade type business and have a workable method that you can teach to some young employees and hope you create a superstar. Problem with it is that you will suffer big drawdowns during the learning process and you will never know the superstars until they arrive and that is only assuming any do arrive...the risk is all your money gets blown before anybody makes anything.
In funded trading businesses that exist new funded traders get tied in for a time and then once they have run through their contract terms, if they are the nads they want it all for themselves.
As fity2acres pointed out, these methods are not particularly scaleable and a lot of the traders only require 20-40k in their margin account. I am sure there are some out there who will take your money but only way to do this legally is to set up LLP with you or they will be non compliant and if you do find the willing trader I suggest you find a good reason why they are willing to do this and also have a good look at their trade history to date so you know what pain you may suffer along the way.

 

[ft338]

how many traders do you reckon are actually out there who double their money every month?

 

[fifty2aces]

how many traders do you reckon are actually out there who double their money every month?

No idea, but saying they double their money each month is slightly misleading - strategies which perform like this tend to be very short term, which limits position size, so while it is possible to get 100% out of a small account, it is much harder when the account grows.

 

[one2watch]

Do people trade in ftse futures & options in one of these arcades these days if so how much it costs to trade per lot? every local I come across seems to be trading in bunds or bobls.

 

[Magos]

Do people trade in ftse futures & options in one of these arcades these days if so how much it costs to trade per lot? every local I come across seems to be trading in bunds or bobls.

kind of bread

Options, swaps, FFA's are more IB kind of bread :whistling

 

[cylinder]

Say if you make 50% a month, what's the maximum amount this strategy will work for? 10,000 100,000 or over 1million? Asking this because this sounds like a very good return with great potential

 

[arabianights]

You could certainly fairly reliably double 100 000 account every month scalping. 1 million you'd need to pick up on the big moves imo (mostly by trading the news)

 

[DC STOXX]

You could certainly fairly reliably double 100 000 account every month scalping

Dare i say, you can do that with relatively low risk as well when i worked out the numbers

 

[arabianights]

I should think so yeah.

Of course our value of low risk might be different to a nun running an orphanage.

By the way can trannies become nuns?

 

[omni]

you guys making 100%??????????????? scalping???? really??????????????????????!!!!!

 

[MrGecko]

Why, you thinking about running an orphanage?

I don't fancy your chances mate.

 

[arabianights]

you guys making 100%??????????????? scalping???? really??????????????????????!!!!!

When I was first interviewed for my job I was told how much money I would be given to trade with and, thinking it wasn't much, I asked how much return I could make on that (as I wanted to make more money than my friends in IBs). I was told "no one believes us when we tell them anyway".