market_bull
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Very high risk/reward "hobby" and/or occupation here.
Kicked out by Schneider Trading Associates, my feed back
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financening
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So, TimYoung , how is your life in Schneider at moment? felling very well, or not very well? Sounds like you have been with them for 2 month .
Not good at the moment. Ya, been with them for two month.
Just coming to realisation that news and market views don't really mean much either since it is hard to predict when the Schatz lead or when the Euribor leads. It doesn't matter whether I can predict whether bonds go up or down since how the spread move is .. unpredictable. Not sure whether it is just right now the market is volatile that the spread has become so unpredictable.
Usually the Schatz lead so when bonds go up, the spread goes down. But last week, the Euribor was leading so the spread has been going up. But last Friday after a bit of profit taking and tho I could see the bonds was going to go up again, that time it was the Schatz that suddenly went up massively so the spread went down. I would have been rinsed if I was in a trade.
I just don't think I can ever figure out how it works or whether there is any relationship at all.
This weekend, I have revised my strategy based purely on TA and price action. I am not going to waste any more time trying to figure out how it works.
Just coming to realisation that news and market views don't really mean much either since it is hard to predict when the Schatz lead or when the Euribor leads. It doesn't matter whether I can predict whether bonds go up or down since how the spread move is .. unpredictable. Not sure whether it is just right now the market is volatile that the spread has become so unpredictable.
Usually the Schatz lead so when bonds go up, the spread goes down. But last week, the Euribor was leading so the spread has been going up. But last Friday after a bit of profit taking and tho I could see the bonds was going to go up again, that time it was the Schatz that suddenly went up massively so the spread went down. I would have been rinsed if I was in a trade.
I just don't think I can ever figure out how it works or whether there is any relationship at all.
This weekend, I have revised my strategy based purely on TA and price action. I am not going to waste any more time trying to figure out how it works.
Masquerade
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Just take a view, trade outright and when risk come to tell you off - bitch slap them and tell them to **** off
financening
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Hi my friend, I believe that you should pay attention about your trading performance,
I have a good friend just kicked out by Schneider in recent days , he is very smart gay with Msc from Cass business school. Have been with Schneider for 4 month. If you are not felling very well about your trading performance,which means your are also in danger.
All they want is commission and desk fee! If you can't satisfy them, you are out of game.
That's why these people said there is a CV damage in there. The gay called "Michael" is a fxxking joker, don't believe him .4 week course is good, at least you learn something, but after that hell is just begin!
Just take a view, trade outright and when risk come to tell you off - bitch slap them and tell them to **** off
lol.
ya, if I were able to trade outrights I would have cleaned up the market last week. I called the absolute bottom of the schatz last thursday to the exact price and just watched it kept going up and up and up. And I even called every single damn point of resistances when there were profit taking. Have been pretty frustrating experience.
Anyway, not going to moan about it any more. Fact is STA is a spread trade place and I just have to get on with it. They do allow a bit of leeway legging into the spread and maybe if I see another opportunity like it I'll leg in until risk management comes along and I'll point to my big **** profit and say I am still legging into my spread.
The probability of making is low and I don't have any illusion about it. I haven't even bought a monthly travel card and just keep using my Oyster 'cos I always feel I could leave any moment.
One of the guys on my course was shocked when someone from our group got kicked last week. He thought we'll have at least 6 months to try it. I never had that view and in fact as soon as I am sure spread trading isn't very profitable, I'll leave myself even if they don't kick me.
Hi
I am attending the course soon ,what was the test in end of the 2nd week ?
thanks
I am attending the course soon ,what was the test in end of the 2nd week ?
thanks
financening
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It's not the trading test, you think too much.
It's like a order test. For example, the mentor will give you a order, you have to response quickly, what is the spread between June and Dec? Work for me a order buy XXX at XXX ,they need you do it as quick as possible. If you are native speaker, it's easy test, if not, you should work harder. The mentor speak very fast.
It's like a order test. For example, the mentor will give you a order, you have to response quickly, what is the spread between June and Dec? Work for me a order buy XXX at XXX ,they need you do it as quick as possible. If you are native speaker, it's easy test, if not, you should work harder. The mentor speak very fast.
And I would say the hardest part was sitting at the front rather than at your desk. I would say the only thing needed to pass the first two weeks is to take some time out to practice doing it at the front desk. For me, that was the big difference; whether it was lighting or set up that I had different on my computer. Could do it easily at my desk but up there it was just v different.
There are some tricks you can learn to practice to do them quickly as well. Like focus on the last digit/two digit instead of the whole number. So if you were doing Euribor Schatz like 98.52 and 109.83 then spread is (2 x 2) - 3 = 1 or 98.52 109.88 (2 x 2) + 2 = 6 aka what you have been practicing on your maths tests.
There are some tricks you can learn to practice to do them quickly as well. Like focus on the last digit/two digit instead of the whole number. So if you were doing Euribor Schatz like 98.52 and 109.83 then spread is (2 x 2) - 3 = 1 or 98.52 109.88 (2 x 2) + 2 = 6 aka what you have been practicing on your maths tests.
TimYoung, I trade TEDs and Fly, the only advice I can give you is that you should look at the TED as a different market and ignore the outrights. I don't even look or care about the outright price. If you think it's cheap you buy, if you think it's expensive you sell simple as that. Don't read news or even listen to them. Trade PRICE! If you have questions just come downstairs or come over to the Telegraph or The Gable and talk to any of the experienced traders from the 4th floor. They will be happy to talk and share their methods.
arabianights
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if I were you the moment you're allowed to trade outright, switch to trading outright... I don't understand why most prop houses push spreading...
Most Prop houses will push spread because they'll get double commission rebates! - Also percieved to be less risky than outrights.
arabianights
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sure, but I think making decent traders and getting a cut makes considerably more sense.....
From what I've read the general consensus was no, hence the reason most leave within a year.
Club
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Yeah, happy with that, I was more interested to hear if the traders had actually half a chance to make it.
If they went live and were forced to do £1 / pip or equivalent (obviously they probably would be doing something much more complicated trading bonds or something) then it would suck. But if they went live and had opportunity to trade a half decent size, then it would be a little better.
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