Have YOU done a trading course ? Do tell us......

yiehom

Active member
149 2
FUTEX

Absolutely, I'm not disputing that.

But not many people will get to experience , for example , sitting on a trading floor and there being a surprise interest rate cut during a global financial meltdown.

It was the experience that was worth the money. To this day, some memories make the hairs on the back of my neck stand on end, I'm really not exaggerating!

I could name the arcade if people like but I'm not sure it would achieve anything. I think they ceased operating years ago anyway.
 

arudge

Newbie
1 0
I did a course back in 2007. It was a trading arcade where I paid about £5k I think, from memory.

It was the usual setup -

Listen to generic rules about how to trade.
Sit on a sim for a few weeks.
Go live. (with your own money)
Blow the account and get kicked out.

The business model was pretty decent from the guys who ran it.
4-5 intakes per year, with around 8-10 students in each.
So bringing in around 200k a year , plus their cut on commissions.
Ok, not mega money, but an ok salary for the main guys who did 1 or 2 hours of lectures a day.

My opinion ... and this will be controversial ..... it was a really great experience and I would do it again.

Why?

I had less of a clue how to trade after a few months than before when I went in.
I didn't make any money at all.
Many will tell you that I could have saved my £5k and got the info for free online.

However...

The course introduced me to (a totally random list coming up, off the top of my head)

- different trading platforms
- trading software
- trading terminology
- direct market access
- futures
- a proper trading floor
- hundreds of markets and strategies I didn't know existed
- a decent work ethic

Ok , the list is muddled, but you get my point.

I went in wanting to learn how to trade. I didn't get that.

But I came out understanding the 'infrastructure' around trading. I watched real (sometimes profitable) traders and got inspired. I felt part of something. I got excited. I made some amazing friends. I will never forget sticking 5 lots on the Bund and making a few hundred euros in less than a couple of minutes. I'll also never forget doubling down on a DAX position and losing around 1k in the same amount of time. Ok I was gambling, not trading. But it didn't take me long to realise that I was never going to be consistently profitable unless I took a much more structured approach which has stuck with me to this day.

I'd say that experience was worth £5k.

Big_P
Sounds much the same as the course I did around the same time, wasn't TCA by any chance?

People look for secrets that don't exist, they look for methods and plans that effectively remove the responsibility of decision making from them. It doesn't work like that.

When I traded the dax and the bund we only ever used support and resistance, the rest was in the news, and to interpret the news properly you need to be completely immersed in everything else that's going on, and thats when it takes your life over.

If you just trade off charts then your missing the main element that's driving that chart, so you'll always be way behind the ball.
Even when news broke we would wait until the support or resistance line broke, then we would pitch in, never try and second guess if that line is going to hold or not.

But the hardest part is being able to do what needs to be done when it needs to be done, that's what messes with your emotions and controlling your emotions is where the real training lies.

A gun is easy enough to use, you simply squeeze the trigger and off it goes, anybody can do it. Try pointing it in a man's face and pulling the trigger, then you'll understand how powerful emotion can be, and only a few are capable.
 

Pat494

Legendary member
14,336 1,497
That one featuring Anton Kreil might just be OK. It was featured on the BBC.
He has some videos on U tube. Cass Business school.
 

NVP

Legendary member
37,430 1,952
I did a course back in 2007. It was a trading arcade where I paid about £5k I think, from memory.

It was the usual setup -

Listen to generic rules about how to trade.
Sit on a sim for a few weeks.
Go live. (with your own money)
Blow the account and get kicked out.

The business model was pretty decent from the guys who ran it.
4-5 intakes per year, with around 8-10 students in each.
So bringing in around 200k a year , plus their cut on commissions.
Ok, not mega money, but an ok salary for the main guys who did 1 or 2 hours of lectures a day.

My opinion ... and this will be controversial ..... it was a really great experience and I would do it again.

Why?

I had less of a clue how to trade after a few months than before when I went in.
I didn't make any money at all.
Many will tell you that I could have saved my £5k and got the info for free online.

However...

The course introduced me to (a totally random list coming up, off the top of my head)

- different trading platforms
- trading software
- trading terminology
- direct market access
- futures
- a proper trading floor
- hundreds of markets and strategies I didn't know existed
- a decent work ethic

Ok , the list is muddled, but you get my point.

I went in wanting to learn how to trade. I didn't get that.

But I came out understanding the 'infrastructure' around trading. I watched real (sometimes profitable) traders and got inspired. I felt part of something. I got excited. I made some amazing friends. I will never forget sticking 5 lots on the Bund and making a few hundred euros in less than a couple of minutes. I'll also never forget doubling down on a DAX position and losing around 1k in the same amount of time. Ok I was gambling, not trading. But it didn't take me long to realise that I was never going to be consistently profitable unless I took a much more structured approach which has stuck with me to this day.

I'd say that experience was worth £5k.

Big_P

Hey BP

Thanks for this frank and honest response .....I correspond with a lot of traders About trading and your words ring true ....

What you have paid for was also an experience and not necessarily just an education

And that is at ,least something worth paying for ....very true

Many experienced traders forget the privilges they he’d when learning their skills and the environments and people they learnt from and spent time with

For example I spent my first 12 years working on the trading floors of a large oil company in london ...,surrounded by crude oil and products traders ....Priceless

And prior to that as a kid growing up I worked in my for my dad and grandad in their betting business both in their office and on uk racecourses which was a phenomenal learning time in my life

So I agree some courses could provide some authentic experiences and merit their exorbetant charges ...but would suggest they are few and far between

I do note that certain academies and schools are swinging in this direction Now....but sitting with a few 12 year old trainers in a room with a lot of other newbies hardly represents a trading floor ? ....

N
 
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NVP

Legendary member
37,430 1,952
That one featuring Anton Kreil might just be OK. It was featured on the BBC.
He has some videos on U tube. Cass Business school.
It’s not bad.....but hardly teaches people to trade ...and set him up for his extensive teaching operations ....one of his sidekicks talks a good story as well ....Mark someone...names will come to me eventually
 

NVP

Legendary member
37,430 1,952
how Are peoples experiences in trading rooms ?

I get into a lot of them on forex....anything sent to me for free trials I’m in there for a look ....but again sadly I have to say it’s a little like those nightclubs and Bars you got fooled into as a kid when you were on holiday with your mates .....pretty girls lured you into the club then you went inside and sat there with 400 other blokes and no girls at all !!!

Yesterday I was in a trading room after some intensive recent marketing to me ..,so I trialled it ......there was a fat finger event yesterday afternoon on mainly AUD.....it was interesting that the lead trader did talk about fat fingers i suppose but I was disappointed now slow he and the team were to react and look for the edge .... i suppose I’m used to being à scalper and the room seems to be trading 15m and Higher waiting for support and résistance plays ....alongside everyone else !

So about 40 names I could see in room watching paint dry.....and I was the one that eventually pointed out the AUD .was the alpha .....a little embarrassing as id only been in their for about 5 mjns

not sure how much they are paying for this experience ....I’m in there one more time today so should be fun.....i might call a few trades as well to liven it up

Thoughts on trading rooms ?

N
 

sunnyday

Junior member
34 7
I try not to read or take any courses. Rather I just had to learn everything from demo account and some google search on such variation and variables.
 

Big_P

Member
76 13
Sounds much the same as the course I did around the same time, wasn't TCA by any chance?

People look for secrets that don't exist, they look for methods and plans that effectively remove the responsibility of decision making from them. It doesn't work like that.

When I traded the dax and the bund we only ever used support and resistance, the rest was in the news, and to interpret the news properly you need to be completely immersed in everything else that's going on, and thats when it takes your life over.

If you just trade off charts then your missing the main element that's driving that chart, so you'll always be way behind the ball.
Even when news broke we would wait until the support or resistance line broke, then we would pitch in, never try and second guess if that line is going to hold or not.

But the hardest part is being able to do what needs to be done when it needs to be done, that's what messes with your emotions and controlling your emotions is where the real training lies.

A gun is easy enough to use, you simply squeeze the trigger and off it goes, anybody can do it. Try pointing it in a man's face and pulling the trigger, then you'll understand how powerful emotion can be, and only a few are capable.
No it wasn't TCA or Futex.

It was a company called 'Global Trading Community'.

They had an office in Bank but then moved to Aldgate.
I think they shut their doors soon after I left. Although I'm pretty sure those two events weren't linked haha

Big P
 
Yes, trading course is a must for doing trading as it gives you knowledge and further helps you to make better decisions. If your basic concepts are clear then only you can move further. As more and more research and practice is done, it will make you more confident in trading, and will also build your skills so that you can put trades in larger volumes.
 
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