Global Trading Community

[mart1ngale]

Has anyone here attended three month Trainne Trader 3 month program? I am keen. I have met them and they have impressed me so far. But I would rather get some reviews before signing up!

My questions are: What do they teach? What products? if you attended this, how much did you make or loose in Simulation Month (month 2)? How much did you make/loose in real trading month (month 3)? How much did people around you make/loose? Did anyone get trading position with them after 3 months course? If you are still there, please talk to me!

Thanks

 

[PualoP]

I think Global Trading Community is just a rebrand of FCT/ First Continental Trading...

 

[swcracknell]

Hi - Did you have any luck with getting an answer to your questions - re GTC?
I have a similar interest.

Cheers
Steve

Has anyone here attended three month Trainne Trader 3 month program? I am keen. I have met them and they have impressed me so far. But I would rather get some reviews before signing up!

My questions are: What do they teach? What products? if you attended this, how much did you make or loose in Simulation Month (month 2)? How much did you make/loose in real trading month (month 3)? How much did people around you make/loose? Did anyone get trading position with them after 3 months course? If you are still there, please talk to me!

Thanks

 

[mart1ngale]

hi steve

i have had some feedback but i am have pretty much made up my mind. its a risk but i am willing to take. when are you thinking of joining? also what is your background?

 

[swcracknell]

I only just came across this training course and liked the look of it. Not yet sure about joining - but plan to go to one of their seminars. I have been involved in the markets for the last 6 years as an analytical trainer (charting and option pricing). I am interested in expanding my skill set and learn more about actual trading.

How about yourself

hi steve

i have had some feedback but i am have pretty much made up my mind. its a risk but i am willing to take. when are you thinking of joining? also what is your background?

 

[mart1ngale]

I work in Structred Credit Product Control (Risk Control + Valuation) . Am very keen to trade and hence desire to get involved with something different.

 

[crxrc]

I posted this on a seperate thread, will have more info later when I start there, in the meantime;

I am starting the course at GTC next month because it is by far the best and most honest I have found. They teach you onsite, they have an approach that makes a lot of sense to me, instead of systems or indicators they use visualisation software to read buy vs sell activities. They also claim not to use technical analysis in first month as it stops beginners learning how to actually trade (?)
This was previously the FCT course which has been running for years. From what I can gather CFT and GTC split off from FCT and share an office.
They also have some very big traders on their floor.
The other places I saw like Amplify and TCa are identical, they are selling remote only programes, amplify do not even have their own office, they rent desks on Penson GHCOs floor in Canary wharf, they also use free internet software and basically charge you to sit at home and paper trade according to standard technical analysis trading signals like moving averages. I would be surprised if any newbie can actually learn to survive in the markets starting like that. After reading all the negative posts by graduates of tca, anyone who gives money to them or any similar operation is not really displaying the street smarts required for trading?
At GTC for 5k you get at least 3 months on site in a real office with traders, analysts etc. And the 5k includes a trading account. Paying amplify or tca to sit in your own house and use cheap software is a joke. Also amplify say that they charge you desk costs? I thought desk costs were for office based traders.

 

[centa_trading]

Martingale you say you have had some feedback could you care to share it on here as I'm too very intrested in joining. Very dangerous name you have

 

[Futures_trader18]

They teach you onsite, they have an approach that makes a lot of sense to me, instead of systems or indicators they use visualisation software to read buy vs sell activities. They also claim not to use technical analysis in first month as it stops beginners learning how to actually trade

so your paying £5k to learn visualization software to read buy vs sell activities, in essence another word for learning technical analysis, and you think it is not technical analysis ?are you thick? the basics of trading can be categorized into 3, technicals, fundamentals and trading psychology, and all they're teaching you for £5k is to use software to read buy vs sell sginals? have a think about what you just said, you seriously need to do your research

This was previously the FCT course which has been running for years. From what I can gather CFT and GTC split off from FCT and share an office.
The other places I saw like Amplify and TCa are identical, they are selling remote only programes, amplify do not even have their own office, they rent desks on Penson GHCOs floor in Canary wharf

are you a fool or still in puberty? what blue chip company do you know own there own offices? every company rents there offices on a long term basis, and i qoute" From what I can gather CFT and GTC split off from FCT and share an office", so they don't even have there own office and your talking about another other company not having there own office? please!

they also use free internet software and basically charge you to sit at home and paper trade according to standard technical analysis trading signals like moving averages

having reading through some posts and looking at there websites it specifically says that you utilize the CQG Trader platform and as far as i know that is not free, every trainee paper/sim trades before moving on to live trading and all trainee's learn the standard technical analysis before moving on to more advance stuff, so what's your point here? at least they learning the standard stuff which is more than what your learning, what was that again?VISUALIZATION SOFTWARE-what a joke!where is the free Internet software?do you really think people are that gullible to sign up and be handed free software and not know about it?but then again, you've been sold that you can become a trader by reading buy/sell signals on a VISUALIZATION SOFTWARE so i guess there are gullible people out there. have you actually spoken to any trainees who have graduated from the program? are you just a ex-TCA trainee that has been scammed and now out to slag every company that offers remote trading? cos every post i've read of yours seems to be directed at slagging of Amplify and TCA, how about Futex? they offer remote trading, did you forget to mention them?

At GTC for 5k you get at least 3 months on site in a real office with traders, analysts etc. And the 5k includes a trading account. Paying amplify or tca to sit in your own house and use cheap software is a joke. Also amplify say that they charge you desk costs? I thought desk costs were for office based traders.

so your paying £5k to sit in a office, wow, it's not going to make you any more of a better trader is it?you keep quoting amplify and tca using cheap software, can i ask how do you know this?or are you just another trainee out to slag of the competitor??Deskcost-it's so obvious that you do not know nothing about trading, deskcosts means the cost to run a desk to trade whether it's at home, in the office or in africa, it covers your monthly fees for the DMA trading platform, your roundtrips, your charts and your squawk access, get it? obviously you don't other wise you wouldn't have posted such a nonsenses post which exposes your trading or should i say lack of trading knowledge. take some advice from a pro, do your research before mouthing off, because you have made yourself sound like a complete knob. Also i know who GTC are as i know someone who works for CFT financials who they rent an office from, you are based in the corner office with glass separating GTC and CFT so even though you can see the CFT Traders you are not sitting next to them nor can you just stroll up and just chat to them,also it's funny how you forget to mention the fact that GTC does'nt even have there own office sign, When you walk in it says CFT Financials and when you ask for GTC you are taken into a room which isn't even a trading floor, just a couple of computers.so before you go mouthing off about people, have a look at your own company.MR.VISUALIZATION SOFTWARE!

 

[crxrc]

so your paying £5k to learn visualization software to read buy vs sell activities, in essence another word for learning technical analysis, and you think it is not technical analysis ?are you thick? the basics of trading can be categorized into 3, technicals, fundamentals and trading psychology, and all they're teaching you for £5k is to use software to read buy vs sell sginals? have a think about what you just said, you seriously need to do your research

are you a fool or still in puberty? what blue chip company do you know own there own offices? every company rents there offices on a long term basis, and i qoute" From what I can gather CFT and GTC split off from FCT and share an office", so they don't even have there own office and your talking about another other company not having there own office? please!

having reading through some posts and looking at there websites it specifically says that you utilize the CQG Trader platform and as far as i know that is not free, every trainee paper/sim trades before moving on to live trading and all trainee's learn the standard technical analysis before moving on to more advance stuff, so what's your point here? at least they learning the standard stuff which is more than what your learning, what was that again?VISUALIZATION SOFTWARE-what a joke!where is the free Internet software?do you really think people are that gullible to sign up and be handed free software and not know about it?but then again, you've been sold that you can become a trader by reading buy/sell signals on a VISUALIZATION SOFTWARE so i guess there are gullible people out there. have you actually spoken to any trainees who have graduated from the program? are you just a ex-TCA trainee that has been scammed and now out to slag every company that offers remote trading? cos every post i've read of yours seems to be directed at slagging of Amplify and TCA, how about Futex? they offer remote trading, did you forget to mention them?

so your paying £%k to sit in a office, wow, it's not going to make you any more of a better trader is it?you keep quoting amplify and tca using cheap software, can i ask how do you know this?or are you just another trainee out to slag of the competitor??Deskcost-it's so obvious that you do not know nothing about trading, deskcosts means the cost to have a desk whether it's at home, in the office or in africa, it covers your monthly fees for the trading platform, your roundtrips, your charts and your squawk access, get it? obviously you don't other wise you wouldn't have posted such a noneses post which exposes your trading or should i say lack of trading knowledge. take some advice from a pro, do your research before mouthing off, because you have made yourself sound like a complete knob.

whatever you say, traderboy, you are the expert in your pyjamas

 

[jason_lee]

whatever you say, traderboy, you are the expert in your pyjamas

sounds like sum1s touched his nerves!!HAHA, I LIKE IT, PAYING £5K TO LEARN HOW TO READ BUY/SELL SIGNALS , MR.VISUALIZATION SOFTWARE!, MR.VISUALIZATION SOFTWARE!, MR.VISUALIZATION SOFTWARE!, MR.VISUALIZATION SOFTWARE!, MR.VISUALIZATION SOFTWARE!!!!

 

[crxrc]

sounds like sum1s touched his nerves!!HAHA, I LIKE IT, PAYING £5K TO LEARN HOW TO READ BUY/SELL SIGNALS , MR.VISUALIZATION SOFTWARE!, MR.VISUALIZATION SOFTWARE!, MR.VISUALIZATION SOFTWARE!, MR.VISUALIZATION SOFTWARE!, MR.VISUALIZATION SOFTWARE!!!!

Ok, I have worked for an IB in structured products for about 12 years. recently with more time on my hands a bit of spare cash, I have decided to become a day trader specifically trading fixed income futures. Although without actual trading experience I know the markets very well especially the Govies and Stirs.
The first thing I have done is attempt to find the best start to the 'own money' side of things, outside the banks and funds you guys are really trading your own money wether backed by an arcade or not.
I have researched and attended seminars and sessions at lots of different types of training or trading companies. My conclusion is a s follows;

Remote type schemes are not likely to get me far. I need to come into a different environment from home to be able to develop a useful trading personality.
Short course knowledge and Technical Analysis I can get from books, free online or even on this site.

The longer onsite courses as offered by a few companies with a track record of training and backing were the only option. As I also live near the City it came down to a couple of choices only. I am not going to go on like the traderboy jason lee and all their various April 2009 registered IDs trying to tell you all how great something is that has no track record, no office to even offer to trainees, no software that they even pay for. I will just reply to the software dig from pyjama boy.

So to the software! a training company that has built its own software and has a method based on real time price and volume and order flow, using visualisation techniques (price ladder is a visualisation technique as are charts btw) to replicate the 'feel' for supply and demand that pit locals had.

Coming from a quantitative background I will confirm that this appears to be a good way to become a day trader. Learning to trade using charts seems to be what everyone else does, and we know that most go on to fail. Charts are useful, but at the start I suspect reading order flow, price and volume , sentiment are good.
As for fundamentals, are you serious? fundamentals are going to help a beginner trade the bund?

I am going to say that it is deeply disturbing that in this day and age scammers can change ID and carry on selling garbage.

Finally, the choice of training course should be made after talking to people who have done the course, if no one has done the course and 1 or 2 people using multiple IDs constantly praise the course online and talk about walking around in pyjamas whilst making a fortune trading remotely on demo accounts?

I will be onsite on my training course next month, any newbie is welcome to contact me and see how its going.
Forgive me for not regaling you with a daily blog of the fortunes I am making on my demo account. I need to concentrate as learning to trade my own money will not give me time to banter on here with half wits.

 

[Stopless]

I think without actually taking the training you cannot comment on the content or value of money.
I'm taking the pro Trader course which is very useful in helping you remove the emotions that can get in the way of trading. Its an additional view to 2d charts with volume and they provide you with trading rules to get you into the habit of making the most out of the market and to recognise your weakness. Its not just about Technical Analysis, its alot about the psychology and your approach.
I have been on many courses over the years and this one for me has been money well spent.
There are alot of companies out there charging a quick buck but not actively seeking to promote and train a trader, i believe that if you have the right mindset and passion for this and take this course you can succeed.
But try it for yourself.....
Steve

 

[bcgs]

Hi,

I did the one-month GTC course in March 09 after looking at TCA, Amplify etc. and a couple of courses in the US. I previously worked on trading floors for 1st tier IBs in London and NY for the last 8 years, so had the original training under my belt already but didn't work as a flow trader/daytrader. At GTC, My fellow group was pretty high calibre, some of them ex-Invetment Bankers looking to switch into trading (with more than 5+ years in Fixed Income), some recent graduates from the French higher universities which wanted practical experience for their resume (also classic IB job candidates), and the rest were looking to make job switches into trading from various backgrounds. Everyone was on-site in London.

The reason I chose the GTC course over other offers was that I wanted a course that was more serious than the "let's trade from home" garden variety, which too often only trains you in specific markets using their own software, rather than industry-standard TT software etc, and does not prepare you to survive as a professional prop trader later on. It was worth paying the course fees as a result.

For me, the selling points were:
(a) I was on-site on a trading floor, with mature senior traders around for information/observation/questions
(b) the course had a practical focus and a solid structure, i.e. daily practical exercises, which built up trading skills sequentially while simulation-trading live in ALL major FI derivs markets (Eurex etc)
(c) I ended up with a thorough feeling/understanding for the pace of these markets (2yr/Bobl/Bund, Euribor/Libor, Eurodollar etc) and could decide which were the markets best suited to my trading style
(d) the course started with basic trading strategies but built up to the complex synthetic strategies, while requiring you to do mental math by calculating several moving variables in your head (you can always build your own spreadsheets later to simplify the exercise)
(e) GTC has only recently legally separated from FTC/CFT, due to its training focus, but has close links into the major EUREX clearing/prop houses. They have an established feeder structure into CFT, Sigma Derivs and other high-caliber prop trading houses that are clearers on the Eurex exchange, which was important to me in case I wanted to make this transition.

A note on trading software - they use TT (the general industry standard) plus a 3-D software that makes it easy for you in the beginning to follow the volumes etc in the markets. You actually can see the order books and sharpen your technique / execution skills during simulation trading, which other competitors do not provide to the same standard.

The things that were less important for me (and which may be a weakness, depending on what your focus is) was that if you are looking for a thorough introduction/review to trading theory, you will have to do this in your own time at home (they do provide additional materials if you ask though). A second point was that you have to be self-motivated. Lectures introducing new material etc were usually held around 9/10am, but you are encouraged to trade from market open at 7am until market close, however it is up to you if you take this course as a "job simulation" or just want to get the training.

Hope this helps. I was happy with the 1-month pro-trader version of the course. The second month is designed to give you simulation practice, choosing your markets and strategies and refining execution and technique so you make less mistakes and are confident when you go live. At the end, in month 3, you trade live money.

Hope this gives you an idea and a basis for comparison to other courses.

 

[alexa]

I really don't know why you are paying for the course. One thing is all people joining the course are potential clients for introducing broker. So not only that they charge you for the course but will also benefit from your accounts. Secondly, there are some great free webinars online, great people on this forum great free documentation.
We all have some but I don't know how to upload it here (not sure even if we are allowed, so if someone wants some old FREE great teaching material pm me please I I will send it to you.
Don't pay for any courses, there is no evidence that people who spent all this money on courses, signals and alike make more money than those who never attended a paying course. I am really angry at those who promise huge amounts of money after you attend a course that will "teach you how to trade". Please, no, don't do it.

 

[bcgs]

Hi Alexa,

I read your concerns, I definitely agree that there are a lot of scams out there. Thanks for the offer to put up free teaching materials, I'm always curious!

Personally, I wanted the PRACTICAL aspects of trading and some guidance, rather than reading a book on theory. As I was looking to make a career switch, I wanted a trading incubator where you can just rent your own desk & software, an IT department to back you up, benefit from low clearing costs, etc. I chose the course as an entrypoint because I wanted to make sure I filled in some holes in my experience/knowledge, and didn't start out making all the beginner's mistakes trading my own account in size. It's one thing to have traded for fun in the past, using small amounts - it's another to think about doing this for a living and using some proper capital. Hence, the GTC course was a small investment, with the option of getting backing from GTC/CFT at the end as well.

As far as the broker argument is concerned - agreed. However, I used to trade igmarkets, paying 10 EUR for a round trip, which is in line with many of the major brokerages.
GTC has enough volume to clear through MAN Group, pooling everyone's accounts, and getting significantly lower rates. Makes a big difference in lowering fix costs and hence upping P&L.

Just for the record - there was never any promise to earn huge amounts from trading, rather a warning that making your living off of trading can be quite tough.

 

[crxrc]

Looking through this excellent and most informative site (trade2win) about volume visualisation software and have found that there seems to be a massive school of traders who use real time volume analysis and gauge sentiment resistance support by watching the behaviour of volume.

This is the start of one such thread
http://www.trade2win.com/boards/pri...-volume-support-resistance-demand-supply.html

'I'm interested in price and price movement as a manifestation of the dynamics of buying and selling pressures and how the results of all this determine support and resistance and trend. This isn't about indicators or Level II or Gann or Elliott or Wolfe or Fibonacci or moving averages or "channels", which is not to say that any or all of those things may not be perfectly wonderful and may be signposts on the road to riches. But they are of no interest to me. And there may be like-minded individuals to whom they are of no interest either. If so, this thread may provide shelter and sustenance.'


This all makes sense to me, as I have seen the smartest systems and indicators try to predict the future and blow up.

Other threads;
http://www.trade2win.com/boards/price-volume/12480-volume-tells-all.html
http://www.trade2win.com/boards/price-volume/6892-importance-volume.html
http://www.trade2win.com/boards/price-volume/15322-volume-analysis.html


These are all grouped under Technical Analysis/ Price and Volume btw

However I could not find any information about any software that they use, in fact one guy posted asking if anyone knew any and got no reply;
http://www.trade2win.com/boards/price-volume/29278-trade-volume-analysis.html

Does any one know of any other volume visualisation software out there? surely the system mentioned above cannot be the only one? I dont mean VWAP

There are also traders who do not agree that real time volume is important though but they seem to be aware of it.

BCGS and Stoploss you are using this on the course, how does it help?

So the software uses visualisation techniques to illustrate buy and sell pressures by displaying in real time actual trade volumes (and does not give buy and sell signals, like the halfwit who was overwhelmed with info put it earlier)

Is it possible that there are a bunch of traders out there who do not even know about the existence of certain concepts and methods outside their own charts and indicators?
Could this fact be an advantage for those who come late and are willing to adapt to new concepts and market conditions?

Talking about learning, It was mentioned in an earlier post that no one should pay for training as there is a lot of free info available. The point is that there is way too much stuff around. Just as we do not educate students by leaving them in a library and expecting them to graduate 3 years later, we need guidance especially at the start, the guidance should be from someone who has gone through the journey and has previously guided several generations of students.
So if you could afford to send your first born to private school, would you say 'no its a scam, because there are free state schools' Just like the Labour politician who had a real incentive to take that route, she sent her kid to a private school even though her party whip was insisting state schools were as good.
Therefore its safe to assume that a rational person who could afford it would opt for the more expensive route if it offered an advantage to the cheaper one, add the factor of competition amongst ones peers. You want your kid to succeed in a competitive world, so if you can afford it you pay for any advantage. Trading seems to be also competitive.
Or maybe the poster meant that there are lots of free quality trading courses available rite now offered by charitable banks and prop houses.
Maybe the poster means, read my information, then learn the practical part on the job.
Maybe would be pilots who cannot get onto BAs training course should read a few books, then start flying for real as training is a scam.

If I was straight out of school again, I could probably get on to a training scheme offered by a bank or prop house with salary and training etc. (I now know what I really want, didnt then)

However I am as committed to becoming a good trader as anyone out there and I would rather have training guaranteed to me for a price, rather than teach myself by experience. The real training will come from me been in the markets daily over the next couple of years (it takes that long to know what you are really doing even on a bank prop desk) any short course is just to get started.

 

[michailretsinas]

hey. I am mike and have been with gtc fr over one month.graduated from lse and member of soc of tech analysts.....but those couldnt give me the edge to make money in the here and now.
with gtc i learn to trade what i see not what i think,always hedged and with max stop loss of few ticks.we trade bond futures and interest rates as they are the most liquid and safe two way markets
reflecting real ecomonic situations and health of major economies.we always pay attention to underliying cash market.
gtc plans to expand in new markets that get on exchange.we learn that there is no holy grail..but rather hedging strategies and observing volume and price behaviour to gain an edge at some point during the day.successful tradign is boring not exciting waiting for a breakout of a trend chanell.those who think ta is the way for day trading .....they dont say that 8 out of 10 ta signals fail during the day.that is coz ta can work better only in long run.its a trap in the intraday.u guys are warned.
come along at minories 33 if u got doubts and talk them over with us.cheers
[email protected]

 

[llhc2010]

i am thinking of going on the 3 month gtc course. can i ask all the guys who have been on the course already, what number/percentage of traders were profitable and how many went on to be backed? cheers guys

 

[michailretsinas]

guys dont try to measure your chance of making it by averaging out the others.
do you think you are the average. no offense
i am still on simulator and its hard for me to lose money. most time i make 200-300.
its all about screen time and feeling the market. i don't care about others nor do i ask. they give you all you need to start. its all up to you you then.
i don't know if they are going to back me or not and i don't care. If you show positive p and l....everyone in the city will back.
otherwise if you need guarantees apply for a broker's job. d say its the best program ,go for it and good luck..but watch out for swine flu in city...