nikosmelis
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i have applied to Candlestick Trading Company for a trainee trader position . information about this firm?
Candlestick Trading Company
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Bluewave
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lol, who cares? Gotta be easier trading with other people's money and getting paid for it than trading alone and losing so often!
Hope you get the job!
(although I have just done a quick Google search and there isn't much useful info about the company....
). Found the job advert....might apply myself although working in London just doesn't really appeal.....
Hope you get the job!
(although I have just done a quick Google search and there isn't much useful info about the company....
). Found the job advert....might apply myself although working in London just doesn't really appeal..... TheBramble
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BW - Shenfield, Essex doesn't really count as London.
TWI
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http://www.ctctrader.com/
Don't believe anything regarding remuneration in the advert. It is just a way to get people into their business. You will struggle for at least the first 6 months-1year, if you are still there after that you will do OK.
Don't believe anything regarding remuneration in the advert. It is just a way to get people into their business. You will struggle for at least the first 6 months-1year, if you are still there after that you will do OK.
nikosmelis
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no i have not . what is your backround(education) kiy818 ?
I applied last week and have not heard anything from them yet- but a friend of mine applied a few weeks back and he has an interview.
I have finished studying economics degree and just completed a MSc in Finance and Investment. But the problem is i dont have and work experience or internships to fall back on so maybe my chances are slim- how about you-what is your background and when did you apply
I have finished studying economics degree and just completed a MSc in Finance and Investment. But the problem is i dont have and work experience or internships to fall back on so maybe my chances are slim- how about you-what is your background and when did you apply
nikosmelis
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economics degree and a master in banking and finance , no trading work experience.
is it a salary based job ?
is it a salary based job ?
To be honest I have very little info about the company and the job- as you know the advert gave very little detail. I think they are looking to train a few traders and i thought i might just give it a try- salary wise: i assume one gets paid after completion of training but that just my assumption.
TWI
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The way it works is this.
They take you in, teach you a methodology and then let you loose. If you are any good then you will start to make money after between 6-12 months for yourself. Generally salaries are payable but they are not much. Ultimately if you are good you will be making your money via profitshare, if you are not good you will leave.
Background is generally unimportant, the style of trading at these places does not take any hi-brow intellect and it is hard to know who will be good and who not. They will judge you much more on the type of person you are than how well you did in your degree/a-levels or indeed what subject you studied.
They take you in, teach you a methodology and then let you loose. If you are any good then you will start to make money after between 6-12 months for yourself. Generally salaries are payable but they are not much. Ultimately if you are good you will be making your money via profitshare, if you are not good you will leave.
Background is generally unimportant, the style of trading at these places does not take any hi-brow intellect and it is hard to know who will be good and who not. They will judge you much more on the type of person you are than how well you did in your degree/a-levels or indeed what subject you studied.
nikosmelis
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twalker you look like a person who knows a lot about these trading firms . Do you think is a good path for a recent graduate who wants to get into the world of trading ?
TWI
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I think it depends very much on the type of person you are. If you want to learn a way to make a good living from trading then I think this is hard to beat. I spent many years prop trading in commercials and trading private client money in a fund before doing this and I prefer this to any other job I have had. Some people find this isn't for them however as they just don't get it and cannot maintain the discipline.
Do not think it is a particularly intellectual exercise, it is not, but it is long hours and hard work.
If you fancy yourself as more of an analyst who want to be clever about planning and executing longer term strategy trades then the large commercials may be a better bet or analyst jobs at IB's/funds. If you want to see the business and trade the flow then trading job at IB are better.
One thing you need to consider carefully is if you are happy to survive on little for the next 6 months while you build your skills. There is a lot of difference in the method taught by different companies some far more aggressive than others. Some will expect to retain 1 in 10 some 4 in 5. It is a very real and honest job, if you cannot do it there is no hiding you will be kicked out quickly, no second chances. The chances of success depend greatly on what you are taught and the attitude of the management.
Be careful, don't necessarily jump at the first opportunity.
Do not think it is a particularly intellectual exercise, it is not, but it is long hours and hard work.
If you fancy yourself as more of an analyst who want to be clever about planning and executing longer term strategy trades then the large commercials may be a better bet or analyst jobs at IB's/funds. If you want to see the business and trade the flow then trading job at IB are better.
One thing you need to consider carefully is if you are happy to survive on little for the next 6 months while you build your skills. There is a lot of difference in the method taught by different companies some far more aggressive than others. Some will expect to retain 1 in 10 some 4 in 5. It is a very real and honest job, if you cannot do it there is no hiding you will be kicked out quickly, no second chances. The chances of success depend greatly on what you are taught and the attitude of the management.
Be careful, don't necessarily jump at the first opportunity.
Hi all,
Not sure if this is too little too late for most of you but I went down to see candlestick on Monday night (group interview). To be honest I wasn't sure what to think about them.
Basically you have different options.
1. They put up all the capital, they then take a profit split as follows: 0 - 100k = 50/50, 100-200k = 60/40, 200k+ = 70/30. You will also have to sign a 4 year contract for this deal.
2. You put up £5k, they then take a profit split as follows. 0 - 100k = 60/40, 100 - 200k = 70/30, 200k+ = 80/20. this is only a 2 year contract though.
3. You put up £10k, I wont go into detail but same as before this time starting at a 70/30 split. 2 year contract
4. Self funding. You keep 100%
Desk fee's and salary.
Every month candlestick will take a desk fee of £500 from you trading account (this is purely for your space). You will then have to fund your own trading platform, charting etc etc.
They pay a retainer of £500 per month into your bank a/c.
As far as the actual interview goes, it's more like a seminar than anything, according to the guy who spoke to the 6 of us who were there, he's had thousands of CV's and will be interviewing 300 over the week! Now if there was only 6 of us then if my maths are correct this guy will have to go through 50 of these group interviews!! Thats alot of talking.
Anyway he came to the crunch, basically he said because there are 300 people wanting this job he was going to do us a huge favour and work it on a first come first serve basis. All we had to do was go into the next room sign something to say we were interested then pay a £250 deposit (refundable on first day).
As far as training goes, they operate a 3 month on-the-job training (no seminars etc) as long as you sign up for the 50/50 profit split. If say you signed up to put £10k up yourself then the training reduces to something like 4 weeks.
Anyway I will bring this to an end. Our group decided that it would be a good idea if we all went down the pub after the interview and discuss what we thought.
We came out at the end with negative feedback. Please dont let me put you off though, I think if you get invited to the interview you should definitely go and see what you think! It's pretty much a guaranteed position, if you do get invited to an interview.
If anyone has any questions about the interview, please feel free to pm me and I will try to answer as best i can.
Good luck all, hope it works out!
Not sure if this is too little too late for most of you but I went down to see candlestick on Monday night (group interview). To be honest I wasn't sure what to think about them.
Basically you have different options.
1. They put up all the capital, they then take a profit split as follows: 0 - 100k = 50/50, 100-200k = 60/40, 200k+ = 70/30. You will also have to sign a 4 year contract for this deal.
2. You put up £5k, they then take a profit split as follows. 0 - 100k = 60/40, 100 - 200k = 70/30, 200k+ = 80/20. this is only a 2 year contract though.
3. You put up £10k, I wont go into detail but same as before this time starting at a 70/30 split. 2 year contract
4. Self funding. You keep 100%
Desk fee's and salary.
Every month candlestick will take a desk fee of £500 from you trading account (this is purely for your space). You will then have to fund your own trading platform, charting etc etc.
They pay a retainer of £500 per month into your bank a/c.
As far as the actual interview goes, it's more like a seminar than anything, according to the guy who spoke to the 6 of us who were there, he's had thousands of CV's and will be interviewing 300 over the week! Now if there was only 6 of us then if my maths are correct this guy will have to go through 50 of these group interviews!! Thats alot of talking.
Anyway he came to the crunch, basically he said because there are 300 people wanting this job he was going to do us a huge favour and work it on a first come first serve basis. All we had to do was go into the next room sign something to say we were interested then pay a £250 deposit (refundable on first day).
As far as training goes, they operate a 3 month on-the-job training (no seminars etc) as long as you sign up for the 50/50 profit split. If say you signed up to put £10k up yourself then the training reduces to something like 4 weeks.
Anyway I will bring this to an end. Our group decided that it would be a good idea if we all went down the pub after the interview and discuss what we thought.
We came out at the end with negative feedback. Please dont let me put you off though, I think if you get invited to the interview you should definitely go and see what you think! It's pretty much a guaranteed position, if you do get invited to an interview.
If anyone has any questions about the interview, please feel free to pm me and I will try to answer as best i can.
Good luck all, hope it works out!
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Sounds like a sales pitch to me.
They CANNOT (legally) tie you into any period of contract.
Doesn't seem like it's in their interest to develop you as a trader very much does it.
This guy wants to put his pitch infront of as many people as possible to get his salary.
They CANNOT (legally) tie you into any period of contract.
Doesn't seem like it's in their interest to develop you as a trader very much does it.
This guy wants to put his pitch infront of as many people as possible to get his salary.
Man that looks well dodgy.
Sounds as if anyone can get a start. I doubt 99% of the original starters would be there after 3-6 months. How come you have to pay a £250 deposit, I know you get it back but whats that all about.
Come to think of it I might just open my own arcade, sounds like the owners must be making a fortune
Sounds as if anyone can get a start. I doubt 99% of the original starters would be there after 3-6 months. How come you have to pay a £250 deposit, I know you get it back but whats that all about.
Come to think of it I might just open my own arcade, sounds like the owners must be making a fortune