Candlestick Trading Company

[jimmy1]

i went there when they first opened there office in docklands... small set up said you get some training and split of profits but had to put up your money and if you lost money i think it was yours you lost first!.....
i did not join.. i think these places just scalp

 

[tibapuv]

i have had an interview with them as well. they don't seem as bad as some people make out. but maybe i am being naive and i guess you can only know if you have been there.
if anyone has any info or thoughts on them PLEASE PLEASE post a reply. i need this to make a decision on them. i have another offer from a smaller arcade with a smaller intake but who keep all their trainees. Thanks

 

[BBB]

Tibapuv-

I've got a better deal. Come round to my house, trade your money on my PC, and I'll take 40% not 50% of anything you make.

Not only that, should you decide you don't like me or my place, your meaningless contract will only state you cant trade for anyone else, anywhere for only 6 months, rather than 1-2 years.

Training? Well I'll tell you my system, but if you can't execute it, thats your problem, not mine because I'm taking a cut of any money you do happen to make by chance. All your losses come out of your wedge, not mine.

Fair deal?

Only my opinion. It's your life, its your decision, it's your trade. Just make sure you make a sensible decision and you're not being blinded by some get rich quick scam, typically backed with dodgy testimonials.

If you dont like it, you can always apply to other (better) places with some experience behind you. Their contract aint worth the toilet roll its written on.

 

[tibapuv]

hey if you can offer me training and a 25k trading account and all the other things CTC or any other arcade can offer, i'm there.
i just think they have the advantage of having the whole set up for trainees.
tell me if im wrong.
i'm just trying to work out if they really have all the things i want for my training...what do you think is important for the arcade to give me (training and facility wise), and what places, BBB included have that

 

[tibapuv]

it not my money i am trading that it is why it is only my time i am risking...but i don't want to waste my time at some arcade that is only interested in the 10% of traders that may be profitable and sod the rest

 

[john7]

although you dont trade your own money, you have to pay for desk fees and charting software etc which is quite alot of money. also u have to take into consideration of the per/lot charges you have to pay on top.

hope this helps

 

[Simon]

...but i don't want to waste my time at some arcade that is only interested in the 10% of traders that may be profitable and sod the rest

Best write off this grand plan now then...

 

[tibapuv]

well you see the other arcade i got an offer from took on 4 people last year and they are all still there and profitable...am i being stupid thinking about anyone else?

 

[mikeyk]

tibapuv ,

From what your saying I think I know the smaller arcade which has made you an offer, and I would definitely favour them over CTC.

 

[tibapuv]

think you're right, small supportive arcade it is

 

[Doh!]

Hi Guys,

I am new to this site (just joined yesterday) but have found it very interesting. I currently trade my own cash via a CFD but am interested as to what extra an arcade can offer that is not already accessable to me via the web.

I can get charts and level 2 info, but is there some other package that traders in these houses use ?.

The reason I ask is twofold.

Firstly, are they providing (and charging) you access to something that you could quite easily get on the web yourself.

and secondly - Am I missing out on something !!!

Your comments are highly welcome

 

[TWI]

2 things, you get platform and exchange access via very fast pipe but more importantly you get cheaper transaction costs than you could get on your own and quite often far better position limits than you could get as an individual trader.

 

[Doh!]

Thanks twalker,

The thing is, the network pipe I have at home is failry good - I have never had trouble with it being too slow. Also, I trade for free. It costs me nothing to make a trade - I pay the price that is on the book through the account I have with my MM.

However, if I want to trade off the book, it does cost me about 10 per trade, but there again - I mostly day trade VOD, hence I have no real need to trade off SETS. I just use my L2 and news info to decide on the moment before I trade.

The account I use also gives me realtime DJ news as well, (well nearly real time).

I guess what I'm saying is, are the costs you pay for your desk, exchange access etc. really worth it.

I have never worked at any of these houses and have no experience of doing so, but my advice to some of the guys here wanting to start out, is to try it themselves with small amounts before going to any arcade. Spend 6 months or so with whatever money you can afford to loose - and then goto one of these places.

Also, do you have visibilty to what is behind L2 - some sort of L3 ?.

Thanks

 

[TWI]

The costs for the desk are not much more than what it actually costs the arcade. Reason their pipe is better is because it is point-point line with direct exchange access so no IP quality problems.
I look at my desk fee of GBP1300. If i was at home, Trading Platform for exchange is 500/mnth, charting package is 400/month, fixed line is 400/month so not a great difference. Thing is costs per trade would be higher and the limits I would be given would be much less for the margin deposited.

 

[TWI]

I trade short term interest rates largely and see everything that the exchange publishes including complete depth on all outright contracts and spreads and other strategies.

 

[Doh!]

Gotcha twalker...

Sorry to be thicker than a dolphin sandwich - but - reading through the thread, my understanding is that some arcades will let you trade your money (assuming you have enough to start with), and you get to keep 100% - but you still have all of the desk costs etc...

What I am getting at is given that the costs for me to trade from home would be about the same as yours - surely it would be better for me to try and get into one of these houses ???.

Anyway - thanks for your replies so far.

 

[TWI]

Yes, depending on what you are trading. For European futures, there is no doubt that going through one of the arcades is cheaper costwise than doing it yourself. Some will allow you to still trade from home but you have the setup cost and they just charge you the roundturn and a share of telco costs from their office to exchange although generally to begin with you need to work at their premises while they asses that you are not some loonatic who will try to take the house down.
Your assumption about self funded is correct, you keep 100% and pay desk fee, the company make from the spread between the transaction cost you pay them and what they are charged. They make a few pence per lot.

 

[Doh!]

Thanks a lot for your replies twalker...

Just out of interest - how easy is it to get into an aracade if you are using your own money ? I suspect it's easier than if you are using their money !!!

Cheers

 

[arjunr]

Hi, my name is Arjun Rose and I am a director at CTC. If anyone has any questions, just ask.

 

[jamieroberts]

Hi Arjun.

I am just about to finish my Banking and Finance Degree, looking at a 2:1.

I am looking at trading as a career within an arcade like yours.

I am looking for any advice?

I currently trade a portfolio of personal shares and am very interested in the financial markets.

Thanks in Advanvce.

James
[email protected]