Longer term strategy trading in an arcade

Nakedtraderboy

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Hi all

Can anyone tell me if many people trade short-medium term in arcades or is this a no no

I am considering self backing at the min and would prefer to trade a longer term view as opposed to intra-day/minute etc

Any useful insights would be great

NTB
 
Those places derive their revenue stream from volume. Tbh, I'd expect you to get a polite brush-off.
 
Those places derive their revenue stream from volume. Tbh, I'd expect you to get a polite brush-off.

Yea thats what I thought but I suppose time will tell...

If there is anyone out there who does longer term in an arcade...please get in touch in let us know what sort of timeframe is viable in an arcade without it being frowned upon

Cheers

NTB
 
Your best bet is to be succesful with the short term stuff then trade long term as well. I have a second prop account, completely independent from main one, for stuff like long term trades and biffing around with unusual markets.

If you're a known quantity then there is a lot more flexibility basically
 
Hi Arabian

Do you mind me asking where you trade?

And what is longer term to you?

I like the sound of this and believe this would work for me also,

PM if you prefer not to say on board

Cheers

NTB
 
This new place does not care what time frame you trade over - its open to anyone who is a self-financed trader and wants to work from a professional trading floor. Opens early next year. No ties to any particular broker / custodian / other suppliers.

www.harpendentrading.com
 
This new place does not care what time frame you trade over - its open to anyone who is a self-financed trader and wants to work from a professional trading floor. Opens early next year. No ties to any particular broker / custodian / other suppliers.

www.harpendentrading.com

Macinty

With respect you could at least try and hide that you are not promoting your new company.. I am never one for going at people who do this but:
The CEO is called Stephen MacIntyre, your user name..slightly similar ;) and all the posts you have done so far have been plugging your new business!

NTB
 
Hi all

Can anyone tell me if many people trade short-medium term in arcades or is this a no no

I am considering self backing at the min and would prefer to trade a longer term view as opposed to intra-day/minute etc

Any useful insights would be great

NTB

Why do you need to be in an arcade for trading a longer term view?
 
You don't need to be - you can do it from home. It just gives support, structure, discipline and the ability to work with like minded indviduals. It is not for everyone and not everyone needs it.
 
original post removed as I thought harpenden was in wales for some reason

but at first glance that looks legit to me, I don't see any reason to slag macinty off.
 
Costs are what you see - rent / rates / maintenance of office space, fixtures and fittings, IT (plus support), connectivity, office supplies, tea, coffee, admin staff, etc. In a bit over three thousand sq ft you get a very nice office, good trading atmosphere, and about 40 x 1,600mm trading desks to split the cost over (while getting any scale benefits possible, though custom nature of outfit will mean these don't apply for everyone).

In terms of how that is covered, the simplest way is to pay a basic monthly rent for the use of a desk, chair, PC and phone and consumables. Of course, we can put together a complete market data, trading, brokerage and custody package if required (we can even set up an entire hedge fund structure if you can raise sufficient assets).

But you can bring your own infrastructure and just pay for the desk. You can even bring your own IT, including servers, etc, and maintain them yourselves (if you like) - the comms room is huge.

Its independent of any supplier and you can shop around for anything you want to ensure you don't feel you are being ripped off on any part of the deal.

Its a trading room, bit like a serviced office, only customised and supported like you would find in a bank or hedge fund (within reason - its not Morgan Stanley). As its in Harpenden, if you commute into London regularly what you save on the season ticket will probably cover most of the office cost...
 
What I don't understand is that most arcades don't make majority money from desk fees, they make it from comms... how are you going to do that?
 
I'm not. I'm going to be more open and up front, meaning everyone should be able to get a deal that works best for them and their trading strategy. If you want to trade with some cheap internet broker I'm not going to force you to pay me double to boost my profits!
 
I'm not. I'm going to be more open and up front, meaning everyone should be able to get a deal that works best for them and their trading strategy. If you want to trade with some cheap internet broker I'm not going to force you to pay me double to boost my profits!

Fair enough, I just don't see how you're going to make very much money :)
 
Actually looking at your previous posts I'm guessing you're doing this more to have an office for yourself to trade in with a good bunch of lads and aren't looking for any real money from the office itself?
 
I mean longer as in > 5mins in and out

I want it for working environment, likeminded people, keep me focused and disciplined, routine etc

Have you asked any prop firm if they have any spare desks at the going rate?

Since you aren't going to be generating commissions you probably want to give them flexible terms to kick you out on short notice if they need the desk for a commission generating trader.

Actually 'meanreversion' says he doing a longer term trading from an arcade paying about 1700 a month for the desk.

http://www.trade2win.com/boards/trading-arcades/77290-london-trading-premises.html
 
I want it for the lifestyle - I want to do something local and not have to commute into London every day. That is the point of doing it up here. I want to slope off to go to the school play without it being a 2.5 hour round trip. I want to spend longer in bed. I would like to see my kids during the week, etc, etc.

I don't expect to make a fortune out of it, as you have already correctly worked out!

Getting the right atmosphere and a decent bunch together is what will make it all worthwhile.

40 trading desks is pretty small and I am hoping to fill them, in which case everyone will be happy!
 
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