Mac Futures / Mac Holdings

Russell

Junior member
11 0
I have recently decided to get into trading due to a move to gibraltar, and have applied for the above company, i have now got through to the interview stage.

i have started to read Market Wizards by Schwager and awaiting another book by J Dalton (mind over the markets or something like that) to try and build up as much knowledge as possible.

I know they have a good reputaion for training and therefore wandering if anyone has any tips on what i should know about for the interview.

thanks for any help
 

Robertral

Well-known member
446 4
Re: Macfutures / Macholdings

Russell said:
I have recently decided to get into trading due to a move to gibraltar, and have applied for the above company, i have now got through to the interview stage.

i have started to read Market Wizards by Schwager and awaiting another book by J Dalton (mind over the markets or something like that) to try and build up as much knowledge as possible.

I know they have a good reputaion for training and therefore wandering if anyone has any tips on what i should know about for the interview.

thanks for any help

Read Hull (futures, options and other derivatives) and Natenberg (option volatility and pricing)

good luck
 

Russell

Junior member
11 0
thanks

unfortunately couldn't get hold of the hull book have got a couple of others, understand a whole lot more now.
 

TWI

Senior member
2,536 254
To be honest you can read as much as you want but what they are going to teach you is fundamentally mindless, that is why it works.
Not that any good books are not worthwhile, they are, but I guarantee that you will not apply any of that theory in your new job if you do only what you are taught.
I think the psychology books like Schwager are best as they provide you with the positive mindset which is so important.
 

Russell

Junior member
11 0
I have got my interview on tuesday afternoon in Gibraltar, and was trying to prepare my self for the interview, i have heard that their interviews are quite brutal does anyone know what i should expect? as i have no experience of trading to refer too.

Also what do people think of Macfutures / Macholdings i know they have a good rep but have found it difficult to find much more info apart from that provided on there site, what techniques do they go for eg spreads, scalping etc.
 

anley

Senior member
2,730 229
A good reputation, sure if you're their (Macs) bank managers.

They've blown a lot of good people out of the game because they always push them to trade more and more size which makes them more and more money.
 

TWI

Senior member
2,536 254
In every game there are winners and losers but you gotta be in it to win it . Mac are far far better than many of the others.
 

TRADERguy

Active member
122 3
Russell,

How did your interview go and how did you find the Gib office? I work for Mac in Chicago but haven't got over there to visit yet.
 

Russell

Junior member
11 0
just answer your questions

Rog: the posistion is for propriety as i am a skint student so have no funds and lots of debt.

Traderguy: not sure about the interview is was very short (15 - 20 mins) as was trying to find out more about you personality and motivations for trading. they have just got a new office which is where i was interviewed but not yet in use seems very good set up with around 200 desks in a brand new building (Europort) its well worth a visit maybe you can call praniel (training manager London) and put a good word in for me, find out if i get the job tomorrow.

anley: I have heard that mac are the best of the prop houses which is my only route in due to no funds. though from whaty i have heard the traders who do work for them have told me that they enjoy themselves and that there is a very good culture, and if their method works why not use it. (thanks for the PM will contact the others as well, but do they require you to have your own funds?)

Twalker: i have heard this about many prop houses, is their any oppurtunity to apply your own strategies or is that after you gain a high level of trust?
 

TWI

Senior member
2,536 254
You will not be able to apply your own strategy until you are trading your own money, but it is likely what they teach you will be better for that sort of environment anyway. Be aware that it will take you 6months - 1 year before you are making a living out of it so hope they are paying you a salary if you are currently skint. Keep your living costs as low as possible in the initial stages cos you will suffer.
 

Russell

Junior member
11 0
Thanks

they pay a salary for the first six months, as i understand the first three are at 500 net next three are 1000 net. during the first 3 months you have a series of lessons as well as trading on papertrader to learn the system. depending on level of success will get between 10-20k to invest for the second three months which is monitored by a mentor to help you along the way, to me this seems very reasonable after these three months again based on success the amount you get to invest rises quickly and then you get to keep 70% of all profits, which is not too bad but desk fees are 1500, though during the first 6 months do not pay.
 

Russell

Junior member
11 0
i have just heard from Mac and it was bad news, apparently was not positive enough in my interview and had less experience of finance than other candidates.

was a bit gutted, but never mind, the question is now are their any other prop firms in the gibraltar/ marbella area that offer good training, or will i have to do something else to raise enough cash to do it from home?

does anyone know of an online trading programme that i can use to practise on, like a papertrader type thing?
 

volatileN

Member
93 0
Russell said:
i have just heard from Mac and it was bad news, apparently was not positive enough in my interview and had less experience of finance than other candidates.

was a bit gutted, but never mind, the question is now are their any other prop firms in the gibraltar/ marbella area that offer good training, or will i have to do something else to raise enough cash to do it from home?

does anyone know of an online trading programme that i can use to practise on, like a papertrader type thing?

You had a lucky escape. When I graduated I got job offers from London Capital, Kyte Group and Schneider (all 2 bit 'arcade' style bucket shops like Mac).

These guys take on graduates every year and pay them a salary (or not in the case of London Capital) and then charge them a monthly desk fee (£1200 - £1500) to be there. I know 2 people in litigation with one of the above.

If I were you I would get a real job in a bank or with a hedge fund. I did and 12 months on my bonus will push my earnings into 7 figures.

Just my 2 cents...
 

TWI

Senior member
2,536 254
I think it depends very much where you end up . There are good and bad. All the grads taken on here are still here after 1 year and they are all making money. Reason is, the company focusses on training, growing and maintaining talent. You have to look around and avoid the sausage factories. You can be earning 7 figs, take holidays when you want, decide your own hours and have no politics once you crack this business.
 
 
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