So What Did You Learn At The Arcade.....

[Directional]

lol - holy man, I know exactly what you're talking about and also a happy user of the same system.

stockjunkie, you dont seem to be speaking from a very informed perspective. Here at Refco, there are traders doing all kinds of different trading, but the majority of traders are spreaders, either calendar spreads or inter-market.

By being long and short at the same time, the exposure to risk is greatly reduced and the ability to scratch 99% of trades that dont work out means losses are kept to the cost of putting a trade on, hence the advantage of super low commissions compared to retail costs - and even at just a 40 lot clip size single ticks are worth collecting from the market.

 

[holy man]

stockjunkie, your assertion that the best traders do not realistically reside at arcades is patently wrong .
traders do not have to learn any great secrets from working in a citty institution,unless you are referring to insider trading.The best traders that I have come across ,merrill ,goldman pits in chicago and london were all driven individuals with incredible levels of self belief .All the basics are freely available on this site should you wish to look.
What is not available is the calculated logic that would drive a goodtrader to "buy the CBOT ipo with both hands on the second day of trading below 80$ ,see it rally 50 $ and get out clean ,while people like "us" were busy picking over its relative merits .
Trust me there are a handful of traders currently sitting in arcades today who will easily meet any criteria that you set of becoming a "good trader".

 

[HCAS]

[where can i find more info mon this system?

 

[Stockjunkie]

lol - holy man, I know exactly what you're talking about and also a happy user of the same system.

stockjunkie, you dont seem to be speaking from a very informed perspective. Here at Refco, there are traders doing all kinds of different trading, but the majority of traders are spreaders, either calendar spreads or inter-market.

By being long and short at the same time, the exposure to risk is greatly reduced and the ability to scratch 99% of trades that dont work out means losses are kept to the cost of putting a trade on, hence the advantage of super low commissions compared to retail costs - and even at just a 40 lot clip size single ticks are worth collecting from the market.

REFCO ??

LOL.

With those credentials , I would not talk too much .

I used RipUco when I was a real Prop man and I have to say the service was rubbish , sorry that' just my exeperience

 

[Stockjunkie]

stockjunkie, your assertion that the best traders do not realistically reside at arcades is patently wrong .
traders do not have to learn any great secrets from working in a citty institution,unless you are referring to insider trading.The best traders that I have come across ,merrill ,goldman pits in chicago and london were all driven individuals with incredible levels of self belief .All the basics are freely available on this site should you wish to look.
What is not available is the calculated logic that would drive a goodtrader to "buy the CBOT ipo with both hands on the second day of trading below 80$ ,see it rally 50 $ and get out clean ,while people like "us" were busy picking over its relative merits .
Trust me there are a handful of traders currently sitting in arcades today who will easily meet any criteria that you set of becoming a "good trader".

Please do your research before you make shallow statements . IB and bank traders are generally rubbish , do a search here and do not repeat the discussion , the conclusion has already been mulled over many times.

The problem is I do NOT trust you . the bottom line is Proof , show me net , net of all losses and expenses how much return over risk per year over 3 years they get then we'll see .

Til arcade traders are nothing more than the 90% who will not win .

 

[Directional]

I have to say the service was rubbish

glad to say that my experience has been the exact opposite so far

 

[SOCRATES]

Dear Mr Sorates,

You surprise me! I am not sure you actually took in what I said. You seem to have dismissed my remarks with a vague comment. But if you give me the attention I deserve you will see that I was noting the Quality of the traders not the Quantity.

thank you

Sx

My comments are not vague. They may appear to be vague if you do not deeply understand my meaning. I will make the statement again, this time from a different angle in the hope that it lands:~

"It is of no consequence whatsoever what the quality of the traders may be if they exclude everyone else from sharing in this quality that they personally and exclusively have, and that they jealously guard and fiercely defend."

Is that better ?

 

[Stockjunkie]

glad to say that my experience has been the exact opposite so far

better clear your account , they are bankrupt case you don't know.

 

[holy man]

stockjunkie,why would any succesful trader want to waste time and effort showing you his P&L or anthing else for that matter ??
Secondly, RTS the regulated business of refco will probably change hands within a month or so for close a billion dollars which is not too shabby for a concern that you seem to think is "bankrupt".

 

[Stockjunkie]

stockjunkie,why would any succesful trader want to waste time and effort showing you his P&L or anthing else for that matter ??
Secondly, RTS the regulated business of refco will probably change hands within a month or so for close a billion dollars which is not too shabby for a concern that you seem to think is "bankrupt".

Simple , if you want to back up what you say then lay it on the line , just as my own record and employment history is readily available . Otherwise they are just wannabe kids playing on the internet.

Refco : yeah right if they ever give back the billions they " wrongfully " seized from Quantum.

http://today.reuters.com/news/newsA..._US-FINANCIAL-REFCO-ROGERS.xml&archived=False

 

[Parky]

Stock you are are remain wrong, I know of a number of very highly successful traders who are in arcades. They are not products of these arcades but were successful traders on the floor who have taken their success onto the screens and this includes one of the top two most consistent and successful traders on the LIFFE exchange.
90% are loss making!! Rubbish it that were even close to being true they would all have shut up shop ages ago. Yes there are more losers than winners but the percentages are more like 60/40 and the 40% winners more than compensate and pay for the loosing 60%.
Successful traders all trade from home? Rubbish, some have up their own trading rooms with their mates, some prefer the company found in arcades but most can't be bothered with having to set up the IT and like the discipline of going too work.
Yes some successful traders do trade from home but not all and not even most.

 

[bundbaby]

Stock,

you are way out of court on the subject of trading environments. You dispell arcades like they are all the same and just ripping people off. Hope you are paying attention to all the comments set out before you as the collective experience of many are that a good proprietary trading firm (arcade as u call it) can be of great help and benefit to ones trading.

 

[holy man]

Like I said ,there are plenty of good traders operating thru arcades.That is a fact .You don t like it ,then i will shrug my shoulders and move on.
Refco,s futures business is regulated and as such the clients funds are ringfenced.This is why Arb and his fellow traders are relaxed.

The next few years will increasingly see "good " traders moving away from the classic big bank model as it increasingly becomes clear that their advantages are being eroded.
people will prefer to trade under their own steam either in funds /arcades/prop groups etc & take advantage of tax havens new markets and new trading systems that change and adapt much quicker than the bulge bracket banks.

 

[Stockjunkie]

No , you are wrong . A successful trader has a record - so let all these arcade kids prove it ! let's see it !
By your ridiculous defintion , I can say my Granma is a successful trader on a BB and the world would have to accept that as definitive .

I am a succesful trader and my employment and trade record is in the public domain .

End of story , do not repeat conversations !


Refco is bankrupt and is facing legal action from Quantum . Your must be high if you think you are greater authority than this !

LOL .

If you scared because you have money with them , then tough , not going to chnage Ref's status in a hurry .

 

[Spam Man]

I am a succesful trader and my employment and trade record is in the public domain.

Oh yeah, you better believe it, he's big time baby.

Read it and weep (with laughter): $8,500 in 2 years.

Was any of that profits from the interesting lottery system that I believe you have?

 

[A Dashing Blade]

Damm, beaten to it !

 

[Directional]

If you scared because you have money with them , then tough , not going to chnage Ref's status in a hurry .

Its business as usual at RTS - traders are trading and can withdraw or deposit funds as normal.

 

[bundbaby]

Sorry Stock,
you remain wide of the mark on nearly all the posts you have maded on this thread

 

[Eldgo]

I have been following this thread with some interest. I am trading/scalping (/punting) Bund/Bobl at an arcade, but am finding the edge increasing elusive. I remember talking to Aquarius at the FOW at the Barbican but assumed it was out of my league. Anyone prepared to give me some details on the system or at least a contact number (my google failed me).

Many thanks indeed.

 

[SOCRATES]

I have been following this thread with some interest. I am trading/scalping (/punting) Bund/Bobl at an arcade, but am finding the edge increasing elusive. I remember talking to Aquarius at the FOW at the Barbican but assumed it was out of my league. Anyone prepared to give me some details on the system or at least a contact number (my google failed me).

Many thanks indeed.

Yes, the edge is always there, but, like the crest of a wave at the seaside, it does not stand still.
It comes and goes and fades and disappears a lot in the two instruments you mention. This is not really what happens but appears to happen because you are not synchronised with them for sufficiently long for you to be in harmony with them all the time. If you were harmoniously synchronised to them the edge would not be elusive, but static.

Why don't you contact FOW themselves and ask them to provide the contact with Aquarius ?