Recent content by TimYoung

Neah, no biggie. Knew the risk involved when I started. Probably stayed just a month longer than I should have done 'cos I was starting to make money and didn't want to waste the time I had already spent there. On my course, there were 32 people and think about 12 people got on it. 10 on my...

Well, I left because I didn't believe in what I was doing primarily and the numbers just didn't add up. Not much to do with career. I never saw STA as a career move rather whether I could make money there. The thing was when I raised the point about how spread trading sucked in the current...

And I would say the hardest part was sitting at the front rather than at your desk. I would say the only thing needed to pass the first two weeks is to take some time out to practice doing it at the front desk. For me, that was the big difference; whether it was lighting or set up that I had...

Alright, I left STA yesterday 'cos I was getting disillusioned with spread trading and was running out of money to go in without income. When I got rinsed out yesterday, thought I'll call it a day. Should have left earlier but was starting to make money and that kept me on for a while more...

Spread trading is basically buying one product that is suppose to be related to another product so you hedge out the market risk. Give you an example. Suppose you buy HSBC thinking that is a good company but you don't want market risk to affect your trade. So you short Barclays by the same...

yeah learn C++

Relevant http://www.zerohedge.com/news/here-what-happened-when-sec-banned-shorting-financial-companies-2008

Great tips thanks. I was lucky enough to be sat apart from my group after I had an argument with one of the guys so no more influence there. I had similar thoughts about some of the things you said and I think I might have something now. Alright see how it goes.

Hey can I ask what strategy did you use to make money at STA? 'cos I am kinda stumped as to how they actually make money from us. If the market continue like now I don't think commission is what the matters when the grads are losing money from trying to mean revert a non mean reverting spread...

No problem. I got a lot of info on this forum before I went on the course and it has helped. Wished someone who have posted some info on what actually spread trading was about instead of me dossing around for a month losing money to find out. I think it might have been different then 'cos...

yea. No fees or deposit if you get through the course. But if you can't get in, then you'll have to deposit £10k. Like one of the guy on my course got kicked after the first month and he was allowed to continue if he deposit £10k.

yeah, that is how I see it. It is basically scalping and mean reverting the spread. The difference is that with a stop loss you take a loss whereas if you hedge it, you might be paid off if the spread moves your way. The only problem is that atm, the spread does not mean revert much and you...

Okay, just a bit of an update. Yesterday, some of more experience traders on the floor came out our group because they hit their daily profit limit or something and anyway they came to trade on our accounts. The guy that traded on my account was suppose to be one of the best trader on the...

yeah thanks for that. you know one in London?

The probability of making is low and I don't have any illusion about it. I haven't even bought a monthly travel card and just keep using my Oyster 'cos I always feel I could leave any moment. One of the guys on my course was shocked when someone from our group got kicked last week. He thought...