hi ive just joined the group and read most of the posts i have to say its very very refreshing to hear from both sides of the coin from traders to trainees. I am loooking to get into trading from home part time too start i done some spread betting and loved it.I would really appreciate advice on the software i need etc i have afast broadband connection and some money to start off with. where is a good place to start futures-stocks-fx look forward to hearing replies. i reside in the uk regards jag.
Hi Bigsy, Just starting out you will find it hard to get an account for futures, options or fx without having some experience behind you. So if you do fancy any of these then sb'ing s probably the only way to go. Keep it small. Daytrading with sb's can be hard, probably better to swing. Take it slow and easy, don't be in a rush, and take a loss as soon as it happens.
Guarantee you break the last bit a few times though.
Guarantee you break the last bit a few times though.
London Capital Group
Hey guys I've got a decision to make.
Yesterday I went to the London Capital Group presentation for prop traders - as you guy's have said the deal was to train the traders in about 2 months on simulators then trade the bond futures - first five years then ten year. The deal is a 50/50 split and a 2 1/2 year contract.
My question is whether their WILL certainly be a fee for the position every month or whether this is only if traders are working privately.
The capital supplied is to buy one lot at first and the after maybe more. As far as I can tell there is no pressure to succeed at first, at least in terms of being given the big elbow - but of course the financial situation would soon price you out of any kind of decent living.
I'm a 25 year old graduate and love trading - I have a years experience with my own account - that was not so successfull - but I know enough to know that trading is difficult. Also the method is scalping and the use technicals based on Market Profile (Steidlmayer)
Any thoughts would be nice!
Hey guys I've got a decision to make.
Yesterday I went to the London Capital Group presentation for prop traders - as you guy's have said the deal was to train the traders in about 2 months on simulators then trade the bond futures - first five years then ten year. The deal is a 50/50 split and a 2 1/2 year contract.
My question is whether their WILL certainly be a fee for the position every month or whether this is only if traders are working privately.
The capital supplied is to buy one lot at first and the after maybe more. As far as I can tell there is no pressure to succeed at first, at least in terms of being given the big elbow - but of course the financial situation would soon price you out of any kind of decent living.
I'm a 25 year old graduate and love trading - I have a years experience with my own account - that was not so successfull - but I know enough to know that trading is difficult. Also the method is scalping and the use technicals based on Market Profile (Steidlmayer)
Any thoughts would be nice!
theknifemac
Well-known member
- Messages
- 340
- Likes
- 0
Also worth having a look at First New York, I know an ex-colleague there who seems to like it and I visited their London office recently and was impressed with their setup - Bloomberg and GL terminals with good network links etc and a better kitchen than my current so called big firm.
Mac
Mac
website
just do a search for london capital group in google - it's the first one that comes up - I noticed that John Rowe the owner has breached article 164 of the companies act - if anyone knows what that is
(Mod's note - We have been duly informed that there once was a company called London Capital Group that was investigated in 1977, but that this has nothing to do with the London Captial Group that you are referring to of which John Rowe is the CEO. For more info see:- http://www.bopcris.ac.uk/bop1974/ref3076.html)
just do a search for london capital group in google - it's the first one that comes up - I noticed that John Rowe the owner has breached article 164 of the companies act - if anyone knows what that is
(Mod's note - We have been duly informed that there once was a company called London Capital Group that was investigated in 1977, but that this has nothing to do with the London Captial Group that you are referring to of which John Rowe is the CEO. For more info see:- http://www.bopcris.ac.uk/bop1974/ref3076.html)
164 is Authority for off-market purchase. Can't be bothered to look in detail (as I have more pressing uses for my companies handbook) but I think it basically means they bought their own shares privately without following the necessary steps.
wysi
wysi
<i>165 Authority for contingent purchase contract
(1) A contingent purchase contract is a contract entered into by a company and relating to any of its shares-
...
(b) under which the company may (subject to any conditions) become entitled or obliged to purchase those shares.
(2) A company may only make a purchase of its own shares in pursuance of a contingent purchase contract if the contract is approved in advance by a special resolution of the company before the contract is entered into; and subsections (3) to (7) of section 164 apply to the contract and its terms.</i>
Not typing out 164 as it is too long
wysi
(1) A contingent purchase contract is a contract entered into by a company and relating to any of its shares-
...
(b) under which the company may (subject to any conditions) become entitled or obliged to purchase those shares.
(2) A company may only make a purchase of its own shares in pursuance of a contingent purchase contract if the contract is approved in advance by a special resolution of the company before the contract is entered into; and subsections (3) to (7) of section 164 apply to the contract and its terms.</i>
Not typing out 164 as it is too long
wysi
thanks
Thanks for that - It seems it has to do with buying their own shares as you stated - I don't suppose it's the biggest crime in the world. I was more concerned if it was to do with never paying their employees or the such like,
thanks for your time on the matter it's greatly appreciated.
Thanks for that - It seems it has to do with buying their own shares as you stated - I don't suppose it's the biggest crime in the world. I was more concerned if it was to do with never paying their employees or the such like,
thanks for your time on the matter it's greatly appreciated.
Thanks to this site
I just want to say that this site is very precious indeed. Not only can trading decisions be discussed but also, in my case, career choices.
Thanks to this thread I think I have stopped short of committing the worst mistake of my life by joining a proprietary trading company - and for the privilege for them to charge my a massive seat fee. Surely only traders who don't know the risks would contemplate such a deal - why not get your own direct access connection and trade. Either way it's a shame that every thing in this world is such a scam.
By the way if there is any one out there who needs a twenty something graduate with trading experience I'm your man
This site rules!
I just want to say that this site is very precious indeed. Not only can trading decisions be discussed but also, in my case, career choices.
Thanks to this thread I think I have stopped short of committing the worst mistake of my life by joining a proprietary trading company - and for the privilege for them to charge my a massive seat fee. Surely only traders who don't know the risks would contemplate such a deal - why not get your own direct access connection and trade. Either way it's a shame that every thing in this world is such a scam.
By the way if there is any one out there who needs a twenty something graduate with trading experience I'm your man
This site rules!
Doesn't a possible new feature for this site suggest itself here?
A 'jobs wanted/jobs available' area.
Neil, Options and Tubbs are looking so I'd like to throw my hat into the ring: if there is anyone out there who needs a thirty something graduate with trading experience I'm your man ....... will work for food .......................................... plus £1mill/yr ...... plus % profit ...... plus BMW plus health care benefits plus.....
A 'jobs wanted/jobs available' area.
Neil, Options and Tubbs are looking so I'd like to throw my hat into the ring: if there is anyone out there who needs a thirty something graduate with trading experience I'm your man ....... will work for food .......................................... plus £1mill/yr ...... plus % profit ...... plus BMW plus health care benefits plus.....
jamieroberts
Junior member
- Messages
- 21
- Likes
- 0
Has anyone ever heard of ZenFutures? Thanks
jamieroberts
Junior member
- Messages
- 21
- Likes
- 0
Thanks Neil. I have an interview with them and was hoping to get some background information on them.
They do not seem to have a website so was hoping some one here might know, I have tried Google etc.
They do not seem to have a website so was hoping some one here might know, I have tried Google etc.
Trading Books
Hi all. I'd like your thoughts on these books. I'm thinking of buying all but just wonder if the study guides are 'worth it' if you know what I mean. I'd appreciate comments from anyone who's been exposed to these in any way.
All by Alexander Elder
1.Trading for a Living: Psychology, Trading Tactics, Money Management
2.Come Into My Trading Room: A Complete Guide to Trading
3.Study Guide for Come Into My Trading Room: A Complete Guide to Trading
4.Study Guide for Trading for a Living: Psychology, Trading Tactics, Money Management
Total Amazon Price = $136.41, Without Guides = $87.47
Thanks.
Hi all. I'd like your thoughts on these books. I'm thinking of buying all but just wonder if the study guides are 'worth it' if you know what I mean. I'd appreciate comments from anyone who's been exposed to these in any way.
All by Alexander Elder
1.Trading for a Living: Psychology, Trading Tactics, Money Management
2.Come Into My Trading Room: A Complete Guide to Trading
3.Study Guide for Come Into My Trading Room: A Complete Guide to Trading
4.Study Guide for Trading for a Living: Psychology, Trading Tactics, Money Management
Total Amazon Price = $136.41, Without Guides = $87.47
Thanks.
marketmaker
Newbie
- Messages
- 7
- Likes
- 0
Come into my trading room set only - it's an update and EXCELLENT...I read the whole thing during a weekend and then went back useing the study guide and charts!
fillyerboots
Member
- Messages
- 94
- Likes
- 0
Trading Rooms
Tubbs,
It's true trading rooms do charge per seat, anywhere between £1k and £2k per month. However, these outfits are for people that trade 1000's of lots per day. One room I know well trades 10 million contracts a year between about 20 people, mostly on Liffe.
The upside is the execution fees are very small e.g. £1 a round trip and less.
Some of these rooms will offer deals to promising new candidates that cut the monthly overhead or offer an introductory free period.
Smaller independent traders can avoid the high fixed costs by staying at home but will pay higher commission rates. Still, this suits most people new to the business.
Tubbs,
It's true trading rooms do charge per seat, anywhere between £1k and £2k per month. However, these outfits are for people that trade 1000's of lots per day. One room I know well trades 10 million contracts a year between about 20 people, mostly on Liffe.
The upside is the execution fees are very small e.g. £1 a round trip and less.
Some of these rooms will offer deals to promising new candidates that cut the monthly overhead or offer an introductory free period.
Smaller independent traders can avoid the high fixed costs by staying at home but will pay higher commission rates. Still, this suits most people new to the business.