London Arcades Knowledge Dump

alpha_monkey

Member
97 5
For the Moderators....

Is there a way that T2W could create a matrix to document known information on London Arcades?

Users to (anonymously?) update information such as:

- approx number of traders per market (x bobl, y short sterling, z eurostoxx etc)
- desk fees
- com rate split
- profit share split
- methodology taught to new recruits
- risk tolerance (in terms of no of lots) given to traders after a year
- supportive/inspiring atmosphere (scale 1-5)
- number of trainees taken on in one batch
- timescale in terms of progression from theory to practise
- timescale before getting culled if initially unsuccessful...

I'm sure there are other points to compare arcades on. The financial ones may be of most interest. The more transparent this kind of information, I'd argue the better for the indiviudal trader.

What do you think?

Cheers,
AM
 

Sharky

Admin
5,626 393
Thanks AM, great suggestion. The new content section of the site will be an ideal place for this sort of information. The format and mechanisims for updating the information still need to be defined, but we definately intend to publish this over the next few months.
 

mintoze

Junior member
14 0
London Arcades Knowledge

Sharky said:
Thanks AM, great suggestion. The new content section of the site will be an ideal place for this sort of information. The format and mechanisims for updating the information still need to be defined, but we definately intend to publish this over the next few months.

When will this new section of the site be available please?
 

Sharky

Admin
5,626 393
The new knowledge section of the site will launch in December, and will be in constant development thereafter. So this paticular part of the new section may not be ready until next year. In the meantime, perhaps we can create a thread on the forums and ask members to post information about arcades - then we can quickly move this over later.
 

wisestguy

Well-known member
471 0
would be good too , if someone could start anew by defining what exactly is a " trading arcade " .

in the old days , I knew them as " bucket shops " , but trends /names change so fast , one cannot keep up .

so that would be appreciated.
 

binsley

Junior member
39 0
Sharky said:
The new knowledge section of the site will launch in December, and will be in constant development thereafter. So this paticular part of the new section may not be ready until next year. In the meantime, perhaps we can create a thread on the forums and ask members to post information about arcades - then we can quickly move this over later.
did this happen on any other thread yet?
 

MartinD

Active member
105 2
wisestguy,
you seem to have a misconception of the definition of a "bucket shop":

bucket shop (from www.dictionary.com)

An illegal operation (in the US) in which buy and sell orders are accepted, but no executions actually take place. Instead, the operators expect to profit when customers close out their positions at a loss. A bucket shop is similar in concept to a bookie who does not lay off bets and accepts the risk of a bettor winning.

So basically a bucket shop is a spread betting setup. "bucket shop" had been a standard term in the US throughout the boom years of the 1920s, up through the stock market collapse of 1929-1931, for any place taking mere bets on the course of securities prices without ever delivering, nor intending to deliver, any actual shares to the market participants. This practice was eventually outlawed in the US, but due to a quirk of UK law bucket shops by definition still exist with SB firms such as finspreads.

A "trading arcade" by contrast is the screen based equivalent of an exchange trading floor - an office filled with trading workstations backed with extensive infrastructure manned by self employed professional traders using company funds to trade global intermarket/calendar spreads with large size lots to scalp ticks, from which they take a large share of profits. An example of a typical arcade being www.macfutures.co.uk which is owned and operated by refco.
 
Last edited:

wisestguy

Well-known member
471 0
well martin,

technically , you may be right , but these days defs are getting distorted left, right and centre as I am sure you have noticed.

the bucket shop label can also be used in different ways , eg) a cheap discount but legal broker with minimum service - churn and burn .

and the arcade , well yes OK , but " using the firm's capital " as a scalper is somewhat in doubt as we have seen , since some arcades require you to use your own $ first.

and if refco is involved , well , it's a BS of the second kind in my book.
 

alpha_monkey

Member
97 5
Sharky said:
Thanks AM, great suggestion. The new content section of the site will be an ideal place for this sort of information. The format and mechanisims for updating the information still need to be defined, but we definately intend to publish this over the next few months.

Congratulations on the new Knowledge section guys. Good foundations for a genuinely useful resource. Look forward to seeing it develop.

On that note, is there a place in the framework to start up a beta version of an arcade knowledge dump?

Cheers,
AM
 

Sharky

Admin
5,626 393
Thanks AM, 'Trading Arcades' will be a new resource type (like articles and people), listed on the right hand menu. The questions that remain are:

i) What information do we want to show on each Trading Arcade - AM has already suggested some, in addition we'd probably want some background info on each, logo, contact details etc
ii) How do we break down arcades into categories - whether by country or type.
iii) How are we going to allow members to interact with it (in order to update it). Currently we edit the knowledge lab in house, so do we need to provide some mecahnisim for members to directly update the arcade details?
iv) How are we going to compile the list of Arcades in the first place - are there any resources on the net which list them?
 

Daniel

Junior member
46 0
On my list of things to do is to find someone who can write an article (or articles) explaining exactly what is a trading arcade, the pros and cons of working in one etc.

If anyone has any experience in this area or knows anyone who does, please pm me. An alternative to an article would be an interview.

The plan is that such an article and any other info we include on Arcades would live in the Knowledge Lab topic 'Trading Careers.' If we get enough maybe it can have it's own topic but better not get ahead of ourselves...
 

binsley

Junior member
39 0
Sharky said:
Thanks AM, 'Trading Arcades' will be a new resource type (like articles and people), listed on the right hand menu. The questions that remain are:

i) What information do we want to show on each Trading Arcade - AM has already suggested some, in addition we'd probably want some background info on each, logo, contact details etc
ii) How do we break down arcades into categories - whether by country or type.
iii) How are we going to allow members to interact with it (in order to update it). Currently we edit the knowledge lab in house, so do we need to provide some mecahnisim for members to directly update the arcade details?
iv) How are we going to compile the list of Arcades in the first place - are there any resources on the net which list them?
Sharky - 1 of the biggest areas to get right is a break down of cost structures - a critical point which can alone determine the suitability of an arcade. It needs to broken down across product groups - index futures, bond futures, equities, CFD's, options etc as both an entry level comm. structure and ultimate structure (ie when large volumes (rt's) are involved)
 

Directional

Experienced member
1,992 251
Here's a starting point for arcades for you to include in the resource, anyone know of others I dont have down here?


EDIT - data moved to traderpedia
 
Last edited:

Directional

Experienced member
1,992 251
Sharky,

i was thinking about how it might be possible to improve the Arcade Index to include cost structures and perhaps details grad schemes.

could possibly make the title of each arcade in the directory into a link to a traderpedia page on each arcade... users could then add comm rate & desk fee info and details of grad schemes to the page specific to the arcade.

what do you think? or would this be crossing the line into 'advertising'?
 
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock