Is there arcades which leases a seat for on a day/week basis?

[maxima]

To be able to decide on will I go with arcade as the way to trade permanently - I need to test different strategies and my own physical and psychological abilities in real arcade but with large gaps to absorb new experience and make correction / learn more etc..

I would like to trade in real arcade for 3-4 days a month for first month or two, then may be one solid week a month for another couple of months.

I dont really like an idea to be paying full rent through this period.

Is it possible to negotiate with good arcade in central London?

 

[fifty2aces]

You'd have to ask them, although I'd imagine they'd be reluctant, since it'll take them a certain amount of effort to get you set up, and there won't be much in it for them if you're only there a few days. Is there anything stopping you trying strategies out on a simulator, or even just with a normal broker from home?

 

[maxima]

yes - this phase is planned after simulator anyway.
and no - scalping through broker vs arcade - appeared as track races vs F1. You can make money either way if you are talented driver but if you sit in F1 bolid straight after track racing car you will crash to death on first 10 laps.

Hence - scalping through broker is irrelevant experience to scalping through arcade. IMO.

You can succeed in either or in both or in neither.

 

[Directional]

I dont think you'll find anywhere decent that does short term seat rental. just not worth the hassle, and not the sort of trader I imagine they would want to cater for ultimately.

Most places have a minimum term, the shortest I've heard of was Marex which (at least when I was there) used to be 30 day interval + a months notice, so in actuality, two months minimum term.

 

[maxima]

I just dont know what is involved - to create/maintain the seat. I thought it just a desk with a PC and 15 min for IT guy to create a domain login for you.......

And I didnt get "not the sort of trader I imagine they would want to cater for" bit..

I thought relations between clearing house and a trader are just some monthly fee and some agreement to be signed. So they are catering as long as I am paying. Or is it more complicated?


I am just asking. I learnt word 'arcade' just two days ago. Have no idea what is it in the reality.

 

[Directional]

I mean that they want to attract traders who will do serious volume (their main revenue stream), or at least, generate a basic level of revenue for the firm from seat lease.

There is also the aspects of assigning kit, screens, signing software lease agreements, setting it all up, logins, then you also need an exchange mnemonic, what about rebates on exchange fee's etc, opening an account, funding it etc.

From the firms perspective, I can imagine they would not see much benefit in terms of profits for catering to a trader who only wantes to pay per day, nor that someone who wants to do that is likely to do enough volume to be worth the overall bother.

To a "pro" trader, the cost of the seat is negligible in relation to how much you'll spend on commissions. At 48p a lot, I was churning over a grand a day in commish doing calendar spreads, more often than not.

none of this is meant as a put down btw, I'm just trying to offer an objective perspective.

 

[maxima]

none of this is meant as a put down btw, I'm just trying to offer an objective perspective.

of course. and that what I needed to know. thanks!

how trader's volume (if he trades his own money) helps arcade to increase revenue?

Is it really possible to get from stage where you able to do 5 scalping trades a day using brokers to a 'pro' with hundreds trades - to the level when you can move to arcade?

I thought brokers are too slow to get relevant experience? (it is like try to learn catching bullet using tennis)

 

[Directional]

how trader's volume (if he trades his own money) helps arcade to increase revenue?

because one of the facilities an arcade offers (and indeed, the biggest advantage) is that they offer their own clearing arrangements.

in other words, they are brokers in their own right. Very cheap, fast ones.

The main source of revenue for an arcade is the trading commissions their traders do. Since most traders in an arcade will be doing many thousands of trades a month, collectively the volume done overall is huge, often millions of lots traded. So the arcade gets big discounts and in turn can offer very cheap fee's to the traders.

 

[maxima]

Ok I understand the point.

If you are a successful pro then arcade can help you to gain even more success. If you are not sure then stay home and knit :whistling

 

[Directional]

If you are a successful pro then arcade can help you to gain even more success. If you are not sure then stay home and knit :whistling

not quite; if you are successful already, an arcade can help make you MORE profitable by lowering your overall costs.

If not, then you can stay home, develop a strategy, backtest, sim trade and eventually live trade on a smaller scale until you're in a position to consider the next level.

 

[maxima]

MORE profitable by lowering your overall costs.

That what I meant...

Plus it helps you to be more accurate as arcade speed supposed to be twice better than access from home to a broker (and in scalping it costs a lot). Correct?

 

[Directional]

depends how you scalp I suppose. If you need speed, the facilities at a firm will give you direct acces to an exchange gateway. As fast as it gets, 200ft of ethernet till your order is exchange-side.

But unless you are using an autospreader or some kind of auto-trading or algo, the 50-100ms difference wont be any advantage to a discretionary, manually executed scalper. The average hand-eye reaction time is something like 200ms.

You can scalp manually from home without the expense. Scalping profitably is the real challenge.

 

[maxima]

But unless you are using an autospreader or some kind of auto-trading or algo, the 50-100ms difference wont be any advantage to a discretionary, manually executed scalper.

Yes I would say it is discretionary. I am couple of years away from real scalping. But I was thinking that inside those 200ms best orders will go to institutional and arcade traders..

Yes I am going to start from home until I get a volume. Of course you are right. How many FTSE contracts per month will be considered enough to move to an arcade?

 

[maxima]

Well.. I run IB demo TWS for about 5 min and made 400. Is their demo equal to their real trading system? Does that mean that I still have it or it is just smoke in the mirror?

BTW - platform is so bloody complicated (in comparison to IG) and frankly is dull and plane. But I dont mind if it will bring me 400 quid every 5 min And it ate 85% of my both cores in the CPU..... I thought my PC is quite powerfull but not for Java obviously.. They have to move to .NET. it is 21st century after all!

 

[fifty2aces]

5 minutes of trading isn't much of a sample size - keep going for a few weeks to see if you can maintain consistency. If TWS is slow, try getting Ninjatrader - it's free for simulation.

 

[maxima]

in contrary. after IG - IB is too fast.. It need few weeks to get used to the speed. Plus I dont understand 70% of the system. I just used DOM and was lucky. In real trades it is gonna be upside down of course I know

 

[spreader01]

hi

I can't vouch for their credibility but tca markets have a hot desk for 50 per day and you can use whenever.....

To be able to decide on will I go with arcade as the way to trade permanently - I need to test different strategies and my own physical and psychological abilities in real arcade but with large gaps to absorb new experience and make correction / learn more etc..

I would like to trade in real arcade for 3-4 days a month for first month or two, then may be one solid week a month for another couple of months.

I dont really like an idea to be paying full rent through this period.

Is it possible to negotiate with good arcade in central London?

 

[pboyles]

hi

I can't vouch for their credibility but tca markets have a hot desk for 5per day and you can use whenever.....

Are they still around, seems their website is down.

 

[spreader01]

Are they still around, seems their website is down.

As I say, I have never used them but hadnt heard they were closed down

I know the worked out of the same offices as Schneiders until recently but have since left...closed down...what ever we want to read into it