London Stone Trading

[pboyles]

OK so tell me what I said that was factually inaccurate?

London Stone Trading Ltd* **
Clements House
27-28 Clements Lane
London
EC4N 7AE


Serviced Offices Bank EC4 - Serviced Office Space City of London UK - MWBEX

 

[Lightning McQueen]

To be honest Subs91, i would use the £3000 to purchase some books and set up a micro account and learn from your mistakes

maybe good advice, was just reading an article that says just that Prop Firms: Should You Pay for Training?

i got the prop traders site in question from a t2w member sig link, who worked within the industry and i believe was involved with this type of business model. his sig advisement is don't do it!

Interesting articles about proprietary trading, including whether you should pay a prop firm for training (don't).

 

[Splitlink]

maybe good advice, was just reading an article that says just that Prop Firms: Should You Pay for Training?

i got the prop traders site in question from a t2w member sig link, who worked within the industry and i believe was involved with this type of business model. his sig advisement is don't do it!

I must be very fortunate in one way. I am, by nature, a disciple of the principle

"They want your money"

When I got married and came to Spain, I remember pushing this phrase into the mind of the youngest sister, now a near retiring lawyer, and she always says that that principle has been with her, through the years, when she has been advising her clients. It is a bit of a family joke. The only thing is, I'm not joking!

Maybe, my fault is that I am too cautious. So be it, but that phrase is repeated to myself
every time I see an offer and has stood me in good stead.

 

[luckyboi]

OK so tell me what I said that was factually inaccurate?

London Stone Trading Ltd* **
Clements House
27-28 Clements Lane
London
EC4N 7AE


Serviced Offices Bank EC4 - Serviced Office Space City of London UK - MWBEX

The point is, there is nothing wrong to have a serviced address, because this is normal for any business with huge expanding plans, i refer to the link i posted before, they do have expansion plans, so in that case, i dont see anything wrong. Infact serviced address can be more expensive then having your own office space, and i am certain they will move office, once the prop traders are comfortable and profitable.

I think, it is difficult in this industry for any company to get some respect, but before you make any negative accusations about any company, atleast try their free demo stration on the remote trading floor, and then share out your opinions.

You can learn the same stuff as the prop trader, on the fx success course, which is £579, 7 days money back guarantee, and you can decide if you want to upgrade with them on the prop trader.

 

[pboyles]

Yes it's difficult for any company to get respect when they follow exactly the same business plan as other companies which ripped people off. That's unfortunate for them but they should do more to combat the cowboy outfits that give them all a bad name. This business model was started by TCA Markets and look how they ended up. A few others followed the same pattern and disappeared with peoples money. And you wonder why people are skeptical?

 

[MajorDutch]

FYI

London Stone Scalp Advanced - YouTube

 

[luckyboi]

Yes it's difficult for any company to get respect when they follow exactly the same business plan as other companies which ripped people off. That's unfortunate for them but they should do more to combat the cowboy outfits that give them all a bad name. This business model was started by TCA Markets and look how they ended up. A few others followed the same pattern and disappeared with peoples money. And you wonder why people are skeptical?

Fair enough, but i think it is fair for every one to try free demostrations with them and let them decide how the guys sound.I have tried the fx success course, which only cost me £579, i learnt every thing the trainee learnt at the prop trader course, however i will be upgrading soon, so i can trade company money.

I suppose its good to be skeptical but dont be skeptical without doing your home work!

 

[Club]

Budget tour operator Holidays 4 UK goes bust | Business | guardian.co.uk

Holiday company went bust and customers lost money (I'm STILL waiting for my money back!), does that mean I can't go on my next holiday as Sandals are a holiday operator and so the same business model?!?!

Boooooo ! No Caribbean for me!

 

[neil]

Fair enough, but i think it is fair for every one to try free demostrations with them and let them decide how the guys sound.I have tried the fx success course, which only cost me £579, i learnt every thing the trainee learnt at the prop trader course, however i will be upgrading soon, so i can trade company money.

I suppose its good to be skeptical but dont be skeptical without doing your home work!

"SCEPTICAL"

 

[neil]

maybe good advice, was just reading an article that says just that Prop Firms: Should You Pay for Training?

i got the prop traders site in question from a t2w member sig link, who worked within the industry and i believe was involved with this type of business model. his sig advisement is don't do it!

A link -connected to those above-discusses FREE training/study material:
Free Proprietary Trading Training

(I have not read it all so cannot vouch for the materials veracity)

 

[pboyles]

Budget tour operator Holidays 4 UK goes bust | Business | guardian.co.uk

Holiday company went bust and customers lost money (I'm STILL waiting for my money back!), does that mean I can't go on my next holiday as Sandals are a holiday operator and so the same business model?!?!

Boooooo ! No Caribbean for me!

Well there is zero compensation when these companies disappear so make your own mind up. To date about half of them have disappeared, the odds dont look great.

 

[Club]

Yeah I agree pboyles, like people have mentioned, its just important to do research so money isn't wasted.

Although I do think the potential for a company to fail after purchasing a product is a risk people take all the time and it is a little too cynicised (did I just make a word up?!) on these forums.

It seems as though peoples biggest problems with these prop firms come into two main fields.

1) Losing money if the company 'disappears' and
2) Getting value for their money.

Number 1 like I mentioned above is just a risk that people take on whenever they pay for anything and it is up to that person to quantify the risk against potential reward.

Number 2 is the biggy, and it covers all the arguments about just putting money into your own trading account and learning the hard way, paying for books, does the prop company offer a career and account growth as the person paying would expect etc etc

At the end of the day I think it is unfair to tarnish all prop trading companies with the same brush, yes some have failed, yes a some were naughty and didn't compensate traders. Whether these are through unethical practise or through bad management and just business wastage, who knows? I am sure there are literally tens of thousands of "Apple" companies who didn't make it for every 1 company that does. But without all of these prop companies trying to build slightly different models, deliver slightly different courses and trading in different ways we would never get to the Schneider Trading, Amplify, London Stone Trading, Savy Trading etc etc companies that are doing something right.

Just my 2 cents, ill get back in my box now

 

[pboyles]

Yeah I agree pboyles, like people have mentioned, its just important to do research so money isn't wasted.

Although I do think the potential for a company to fail after purchasing a product is a risk people take all the time and it is a little too cynicised (did I just make a word up?!) on these forums.

It seems as though peoples biggest problems with these prop firms come into two main fields.

1) Losing money if the company 'disappears' and
2) Getting value for their money.

Number 1 like I mentioned above is just a risk that people take on whenever they pay for anything and it is up to that person to quantify the risk against potential reward.

Number 2 is the biggy, and it covers all the arguments about just putting money into your own trading account and learning the hard way, paying for books, does the prop company offer a career and account growth as the person paying would expect etc etc

At the end of the day I think it is unfair to tarnish all prop trading companies with the same brush, yes some have failed, yes a some were naughty and didn't compensate traders. Whether these are through unethical practise or through bad management and just business wastage, who knows? I am sure there are literally tens of thousands of "Apple" companies who didn't make it for every 1 company that does. But without all of these prop companies trying to build slightly different models, deliver slightly different courses and trading in different ways we would never get to the Schneider Trading, Amplify, London Stone Trading, Savy Trading etc etc companies that are doing something right.

Just my 2 cents, ill get back in my box now

Number 2 is the big question as you say. If you look at the Schneider's thread here its mentioned that only a couple of people out of each intake of 20 or 30 get hired and most of them are gone within a year. I think the odds of success are very low regardless of the quality of training, I think it takes a lot more than training to be successful and that's what people don't understand.

 

[Club]

It's like X-Factor for traders!

 

[pboyles]

It's like X-Factor for traders!

That's it, pay 4 grand for a one in a hundred chance to be the next Leon Jackson (you'll have to google him).

 

[Club]

And here is the culmination to the analogy!

Axe falls on X Factor winner Leon Jackson as he's dropped by record label | Mail Online

 

[neil]

Yeah I agree pboyles, like people have mentioned, its just important to do research so money isn't wasted.

Although I do think the potential for a company to fail after purchasing a product is a risk people take all the time and it is a little too cynicised (did I just make a word up?!) on these forums.

It seems as though peoples biggest problems with these prop firms come into two main fields.

1) Losing money if the company 'disappears' and
2) Getting value for their money.

Number 1 like I mentioned above is just a risk that people take on whenever they pay for anything and it is up to that person to quantify the risk against potential reward.

Number 2 is the biggy, and it covers all the arguments about just putting money into your own trading account and learning the hard way, paying for books, does the prop company offer a career and account growth as the person paying would expect etc etc

At the end of the day I think it is unfair to tarnish all prop trading companies with the same brush, yes some have failed, yes a some were naughty and didn't compensate traders. Whether these are through unethical practise or through bad management and just business wastage, who knows? I am sure there are literally tens of thousands of "Apple" companies who didn't make it for every 1 company that does. But without all of these prop companies trying to build slightly different models, deliver slightly different courses and trading in different ways we would never get to the Schneider Trading, Amplify, London Stone Trading, Savy Trading etc etc companies that are doing something right.

Just my 2 cents, ill get back in my box now

10 out of ten for using the adjective "lose" in correct context.

 

[Ghost Pips]

i've just been accepted as a live trader after being under the wing of a mentor since August.

Not that you need any more convincing I am sure that these guys are legit. If you want to follow my progress as a prop trader with them I will be documenting it on my blog Trading Trends

..

So far I signed up to be a prop trader, didn't see the point in doing the fx success course as I ultimately wanted to trade their funds not mine. They show you the ropes, let you practice until you're comfortable that they know what they are talking about and then ultimately they help you trade in a way that suits your personality and with good money management.

Having gone the route of opening an account with other cfd, sb and stock brokers , reading books and trawling through the internet for vids, ebooks etc. I have decided that my money would have been best placed with a firm like LST 2 years ago and that I could have saved myself 10k already.

It's really easy to place a long or short trade. The hardest thing is managing your expectations and not losing your money. I have no degree in finance and every other route I have taken me has not given me an insight and access to how to trade like a professional until signing up with these guys.

But as always , you should do your own research and find out for yourself if they are what you need to trade more successfully.

If you have any questions by all means contact me, my email address is iamnev at gmail dot com .

Hate to break it to you fella, your only trading your own money part of the 4000k you
have paid them that's how these firms roll, see what what happens when you blow your account...

 

[Lightning McQueen]

forgive me if i have the wrong end of the stick here. but is this a bit of a rip?

people get charged 3k for what looks like a basic "retail" methodology, similar can be found on google, granted the training provides guidance and structure. also the new "prop trader" trades fx through fxcm, a "retail" platform. easily found on the net by any tom, dick or harry. where's all the usual prop firm bells and whistles? i can't see the advantage here then, other than the funding of the trader. this just doesn't sound to me like proper "prop" trading at all? somethings not right, though it's prob me

 

[Club]

Yeah, i guess it comes down again to my number 2 in the post above...value for money...

It will be interesting to see how that fella's blog goes, if only to see what the account growth is like. If all their prop traders are remote then it would have to be different to the normal in house prop trader houses. It looks as though they are doing something different to the other "bog standard" prop business model, if it works out then it might be a good thing. Got a long way to go yet though.

I wonder if the "prop trader" gets any reduced spreads or different account types cos they are with the company? If they do grow accounts and the traders get lower spreads then I can at least see the attraction.