Re – 2 traders required to complete team of 4

Lord Flasheart

Legendary member
9,794 975
Im sure PB will be along shortly.:)

If they had the edge why share it. How many prop type firms do you know who have the edge.They are after the fees
 

212

Junior member
44 25
The only mention of any cost is £400/500 a month once successful for sharing an office, no?
No mention of brokers/exchange etc. as trading from own account from a rented office.
 

Lord Flasheart

Legendary member
9,794 975
Are u saying that prop/arcade traders are mugs?

No kimo, a trader is a trader where ever he is ans someone has to have the fees so why not an arcade. I have no problem with that. What CD is offering is an edge for nothing. Thats all,I hope Im wrong.
 

ChocolateDigestive

Experienced member
1,153 281
Right let it be stated I am not buying into this. I do not believe he has the edge and there are sure to be fees along the way

Hi LF

I understand why you are sceptical. I cant prove on a public internet forum that are no fees all I can do is say we are 2 private traders looking for 2 other private traders to form a team. no fees now or ever, no splits, if it does progress to a shared office then strictly equal split of costs between the team.

Re - your opinion on whether there is an edge. I cant really prove or disprove you on a public internet forum and nor do I want to. It's no great shakes anyway as you could give a solid edge to 100 traders and probably 90 would still fail, it's only one component. Edges are everywhere when you start to look, just a case of finding one that suits the trader and then being able to trade it.

The reason for finding two more traders is in the OP.
_________________________________________________________
The edge provides a large number of high probability set ups from the 5min t/f and above and can be traded across multiple instruments hence the need for more pairs of eyes. Traders will alert the others to pending trading opportunities on the instruments they are monitoring thus maximising the number of trading opportunities in the trading session for all of the team.

help get over the isolation of trading alone, provide economies of scale, share costs not risk and also it may open up further opportunities for all of us working as a team.
_________________________________________________________

Good luck to you.
 

Lord Flasheart

Legendary member
9,794 975
Hi LF

I understand why you are sceptical. I cant prove on a public internet forum that are no fees all I can do is say we are 2 private traders looking for 2 other private traders to form a team. no fees now or ever, no splits, if it does progress to a shared office then strictly equal split of costs between the team.

Re - your opinion on whether there is an edge. I cant really prove or disprove you on a public internet forum and nor do I want to. It's no great shakes anyway as you could give a solid edge to 100 traders and probably 90 would still fail, it's only one component. Edges are everywhere when you start to look, just a case of finding one that suits the trader and then being able to trade it.

The reason for finding two more traders is in the OP.
_________________________________________________________
The edge provides a large number of high probability set ups from the 5min t/f and above and can be traded across multiple instruments hence the need for more pairs of eyes. Traders will alert the others to pending trading opportunities on the instruments they are monitoring thus maximising the number of trading opportunities in the trading session for all of the team.
_________________________________________________________

Good luck to you.

That seems fair enough,I may have been too strong and what you say about the 90% is true. Why do you want to share the edge?
 

pboyles

Legendary member
8,072 1,303
Im sure PB will be along shortly.:)

If they had the edge why share it. How many prop type firms do you know who have the edge.They are after the fees

IF you hold you own funds in a broker of your choosing

AND you pay your share of office rental monthly with no contract going forward (like a hot desk)

AND there are no other fees

Then I can't see how you can get scammed, whether or not you'll make money is another matter, as the OP himself would admit I'm sure.
 

ChocolateDigestive

Experienced member
1,153 281
I'll take the other side of this, Flashy.

I think there might be an edge, and the proposers are merely using the desk-fees as a means of paying for the set-up, and getting themselves a free desk.
And possibly get some volume rebates.
Essentially, utilising other traders to get free resources for themselves.
Nothing wrong in that.
However, if there is no edge, given the day-trading nature of this, it will become apparent quite quickly.
I cant see how if it is underhand, how it could survive more than 6 weeks.

Things to watch out for would be not to get tied into any extended contracts.
I am notionally optimistic about this.
As I am with all possible trades.

Has pboyles commented yet? :cheesy:

Hi Trendie

'I think there might be an edge, and the proposers are merely using the desk-fees as a means of paying for the set-up, and getting themselves a free desk.'

I can assure you that is not the case. Personally I couldn't be bothered with the aggro of making a profit out of leasing desks. There are better things to do with my time than weasel people out of lousy desk fees. Any future shared office would be conditional on everyone being profitable in their own right (and that may never happen - trading is hard), if it does happen then the price would be strictly divided by the number of traders, then cost of broadband/coffee etc split.

'possibly get some volume rebates.'

Each trader will trade for himself with his own account so it would be impossible to collect rebates on another traders account. The instruments we will be trading do not have a rebate structure any how

Essentially, utilising other traders to get free resources for themselves.
Nothing wrong in that.'

I have to disagree, I think there would be something wrong in doing that, personally I would never want to trade with other traders with them knowing I am earning money from them directly or indirectly. That would create the wrong atmosphere.

'However, if there is no edge, given the day-trading nature of this, it will become apparent quite quickly.
I cant see how if it is underhand, how it could survive more than 6 weeks'

It certainly would be come apparent quickly, whilst discipline and strong motivation are required to succeed without any real edge trading is simply flushing money down the toilet or akin to taking a punt.

'Things to watch out for would be not to get tied into any extended contracts.'

There wont be any contracts now or ever, just a gentleman's agreement. We work on a trust basis bit old fashioned I know but its a small group and if you cant trust each other I cant see any way of moving forward.
 
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ChocolateDigestive

Experienced member
1,153 281
No no, course he has the edge, he's probably taking the core principles from
his illustrious 'gift to newbies thread' and added in pin bars at round numbers
and hey presto edge completed!! :clap:

those were the days, I hope you enjoyed the entertainment back then. Sadly the edge doesn't involve round numbers although I still do really like round numbers as potential battlegrounds for buyers and sellers to fight it out.
 

Lord Flasheart

Legendary member
9,794 975
I wish you good luck,the opening post may have been a touch misleading and similar to many weve seen before.
 

ChocolateDigestive

Experienced member
1,153 281
Im sure PB will be along shortly.:)

If they had the edge why share it. How many prop type firms do you know who have the edge.They are after the fees

Hi LF. As explained in the OP and my above replies the edge is being shared as we need 2 more traders to alert the team to set ups that occur during the 8am- 12noon trading session thus maximizing opportunities to all. Also it would offer a solution to the isolation of remote trading/social environment/sharing of ideas/offer new opportunities.

I agree with you that prop firms do try and make money from traders out of the fees, some are more genuine than others. We will not be a prop firm, just individuals trading together in a team.
 

ChocolateDigestive

Experienced member
1,153 281
The only mention of any cost is £400/500 a month once successful for sharing an office, no?
No mention of brokers/exchange etc. as trading from own account from a rented office.

yes that's correct and I only used the figure £400-£500 per month as that is probably the going rate for a shared office in central London per desk. Of course it depends on the spec/location but there is a lot of empty office space available in London so the market is competitive and a good deal can be struck. It depends what the team wants and decides if we get that far - which is not guaranteed.
 

ChocolateDigestive

Experienced member
1,153 281
IF you hold you own funds in a broker of your choosing

AND you pay your share of office rental monthly with no contract going forward (like a hot desk)

AND there are no other fees

Then I can't see how you can get scammed, whether or not you'll make money is another matter, as the OP himself would admit I'm sure.

Yes each trader would choose their own broker/clearing route and trade their own account, no other fees now or ever. Not sure how the contract for a shared office would work if we progress to that stage. I think most serviced office would require 3 month minimum so we would probably be on the hook for 1 month deposit plus 3 months of rent, I would be keen to commit to 3 months maximium at the start in case things don't work out,
 

ChocolateDigestive

Experienced member
1,153 281
I wish you good luck,the opening post may have been a touch misleading and similar to many weve seen before.

no worries LF, given the amount of scams and unscrupulous vendors in this industry you are right to be wary, I know I certainly am, I vendor bash like the best of them. Sorry if anything was misleading, good trading to you sir.
 

trendie

Legendary member
6,840 1,398
Just out of curiosity, how many trades, and how many pips would today have bagged?
On, for example, GU, EU and Dax?
 
 
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