Futex vs Schneider

no probs...

:) I dont know what that is!! but if he is a great trader hopefully I ll follow.

MrGecko said:
Apologies for being wholly irrelevant and totally useless, but I can't help but think of Right Said Fred when I read your username.

Good luck with the prop firms.
Click to expand...
 
tommog said:
Hi Guys,

I have worked at several prop firms in the city so firstly, congratulations on getting this far, if you are passionate about trading its the best job in the world, but the early days are very tough the best piece of advice i could give you is keep a note of everything you feel you are doing wrong and have the mental discipline to change and you will be fine.

But on a side note it is a total joke the requirements they make trainees go through. For the type of trading you will do at prop firms there is absolutely no correlation between you maths skill verbal reasoning or computer gaming skills... they either do this as some misguided sense of inflated ego over what this job actually is about, it isnt brain surgery or they do it simply because they can! In my time trading i have never seen any correlation what so ever between how quickly you can add up and trading ability. Ive seen astro-physisists freeze in front of the screen and never put a trade on and i have seen a college drop out sit down and make 100 grand in their first 18 months. This is a psychological game, the guys that make it have mental discipline, averagae intelligence is fine. In fact, intelligence is irrelivent, i am pretty sure i could take anyone and provided they are passionate about the markets and want to learn i could get them having a pretty good idea of what they should be doing within a month or two.

Also cutting people every week is INSANE, i dont know what the guys at Schneiders are thinking, everyone learns at their own pace and there is NO WAY you can tell who will be a good trader after a week, i dont think you can truly know for six months.

It is my intention to start taking on juniors at one point in the future and i would far rather take on 1 or 2 and give them all the support and guidance they need.

Sorry, rant over, if you are just starting out in trading please dont let these guys destroy your confidence just enjoy yourself and study hard and listen to people around you.
Click to expand...


Thanks Tommog for your feedback. I dont want to loose time waiting until a prop house comes and offers me a position. That is why i want to be proactive and learn some trading skills in the meantime. Is Gllobal trading community a well known house in this area.

Best,
John
 
John

I am keen to find out global trading community. Let me know what you find out. I have also started a thread on "global trading community". please check it out.

i am a risk professional, determined to move into trading. GTC (Global Trading Community) has a good program and even though it costs a bit, i am willing to take a gample and join then to get some trading skills under my belt. I also have mathematical finance background, so, know the theory, now want to put that in practice.
 
John Mensah said:
Thanks Tommog for your feedback. I dont want to loose time waiting until a prop house comes and offers me a position. That is why i want to be proactive and learn some trading skills in the meantime. Is Gllobal trading community a well known house in this area.

Best,
John
Click to expand...

Not known.
I met some of their trainees this summer and I met them again few weeks ago.

keep your money and look for a better place.
 
It is my believe that:
STIR spreads go Schneider’s, outrights FUTEX
I know for sure with Schneider’s you won’t be able to trade outrights easily
 
Arcade schmarcade! Someone give me one good reason for their existence.
 
ahardy66 said:
Arcade schmarcade! Someone give me one good reason for their existence.
Click to expand...

Allowing undercapitalized traders who are profitable, but not profitable enough to compound their way to a large account, to trade larger size, provided by the firm. Trader is able to make a living from trading, which he otherwise couldn't, company gets a cut of the profits.

If you're just talking about arcades which take own account traders, then I suppose cheap commissions, and the social aspect of being with other traders. Whether this is a good thing comes down to personal preference - I'm sure many would prefer to trade at home - but the fact that people are willing to pay to trade from the arcades suggests that they think it's a good deal.
 
John Mensah said:
Thanks Rita...
Is Global Trade Community a good house i.e. is it know enough so i can leverage on this training..
Click to expand...

hi john, gtc is alright i guess with everything in life you have got to want it for things to work out for you. ive just finished a 3 month course with gtc and i have to say it has been one of the best things ive done ever, im so happy that i can now say that i know what trading is about etc. so i would recommend that you pursue your dreams and when you do go onto a course want it so bad, take your destiny in your own hands and learn to be a champion (hey it worked for me!!). good luck!!!
 
tommog said:
Hi Guys,

I have worked at several prop firms in the city so firstly, congratulations on getting this far, if you are passionate about trading its the best job in the world, but the early days are very tough the best piece of advice i could give you is keep a note of everything you feel you are doing wrong and have the mental discipline to change and you will be fine.

But on a side note it is a total joke the requirements they make trainees go through. For the type of trading you will do at prop firms there is absolutely no correlation between you maths skill verbal reasoning or computer gaming skills... they either do this as some misguided sense of inflated ego over what this job actually is about, it isnt brain surgery or they do it simply because they can! In my time trading i have never seen any correlation what so ever between how quickly you can add up and trading ability. Ive seen astro-physisists freeze in front of the screen and never put a trade on and i have seen a college drop out sit down and make 100 grand in their first 18 months. This is a psychological game, the guys that make it have mental discipline, averagae intelligence is fine. In fact, intelligence is irrelivent, i am pretty sure i could take anyone and provided they are passionate about the markets and want to learn i could get them having a pretty good idea of what they should be doing within a month or two.

Also cutting people every week is INSANE, i dont know what the guys at Schneiders are thinking, everyone learns at their own pace and there is NO WAY you can tell who will be a good trader after a week, i dont think you can truly know for six months.

It is my intention to start taking on juniors at one point in the future and i would far rather take on 1 or 2 and give them all the support and guidance they need.

Sorry, rant over, if you are just starting out in trading please dont let these guys destroy your confidence just enjoy yourself and study hard and listen to people around you.
Click to expand...

Hi there, read your thread, its so full of truth, well done and thanks for encouraging all the young traders out there.
 
nri said:
hi john, gtc is alright i guess with everything in life you have got to want it for things to work out for you. ive just finished a 3 month course with gtc and i have to say it has been one of the best things ive done ever, im so happy that i can now say that i know what trading is about etc. so i would recommend that you pursue your dreams and when you do go onto a course want it so bad, take your destiny in your own hands and learn to be a champion (hey it worked for me!!). good luck!!!
Click to expand...

Hi nri

i am very keen to join GTC but am wordering about life after that ... i take you have been there and would like to find out what you are currently up to?
 
I ve just completed some work experience for Investec, many of the guys there advised me against proprietary firms such as Futex/Met Traders saying they re not all they re cracked up to be. why is that?
 
rascal07 said:
I ve just completed some work experience for Investec, many of the guys there advised me against proprietary firms such as Futex/Met Traders saying they re not all they re cracked up to be. why is that?
Click to expand...

To be frank, you have to be the best of the best to speculate with success, and most in the city are not good enough, therefore the failure rate is HIGH.

End of
 
Rascal - is this the same Investec which has slashed a quarter of its staff at its UK investment banking arm recently?

I work at a prop firm, and people are doing better than ever, and there certainly haven't been any job cuts of which to speak. To succeed in speculation (whether this be at a prop firm, hedge fund, investment bank or just sitting at home at your desktop), you need discipline, confidence and common sense.

If the guys you worked for at Investec advised you against prop firms, thats for you to make your mind up, but I wouldn't be so hasty.
 
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