Schneider Trading Associates: Graduate Training Program

[blancspa]

4. Prop trading is NOT a natural stepping stone into a bank.
Although I know of one person who has managed it... most banks will NOT touch you once you've been in a prop trading house (rightly or wrongly). I just met up with someone at the Trader Monthly event in Harrods tonight. He was with me in the Schneider's Trader Training Course and has been told by recruitment consultants that they weren't interested once he revealed he attended a prop house training scheme.

I have an interview with Schneider next week, and am looking forward to a potentially exciting opportunity. However, forgive my ignorance, but with reference to the above, why do you claim that banks are so anti-hiring ex prop shop traders? I understand that if you apply to a bank from a prop shop it can indicate lack of trading success, which will naturally be unattractive.

Thanks

I dont neccesarily agree, to me risk managament methods, strategy and methodology in general are laughable. Dont know how it looks like in banks but I presume they dont want somebody who tried to scalp NFP - thats just not Basel II Accord standard me beliefs.

 

[MadeToTrade]

Hi all,

I had my assessment/group interview on weds. I didn't get in unfortunately but i'm glad to have had the experience. I was hoping somebody successful in getting onto the course could tell me what results they got in the tests. I had 25 for the maths quiz and 16.8 seconds for the reaction/memory one. There's a good chance I didnt cut it on any level (introducing and talking about myself included) but I would be interested to find out if theres a specific area I can improve.

All feedback welcome...

 

[raj452]

Hi Guys

Just to let you all know, I got offered a place with Schneider this morning

Happy out

Thank you all for your help throughout the process

I will gladly help any one who would like the same

Cheers

NTB

hi can you please tell me what the interview was like and how much do i need to prepare for it?

 

[annik88]

Hi guys, i have been accepted on the course but i have read alot about how big banks may not want to take me on after trading in a prop house. Is this true even if i only take the 4 week training scheme? I want to apply to grad schemes come september 2010 and so i don't really want to do anything that will hinder my chances. I don't really see why a 4 week training scheme would reflect badly, i mean its not like im taking a full time position. Any help would be much appreciated!
Thanks

 

[Masquerade]

Then don't mention it.

 

[crazybrab]

I had the interview on Wednesday (09/12). Format as described by others, I can only pass on my wisdoms:
1. Don't be late - not even one minute!
2. Think of something INTERESTING to say, ask ORIGINAL questions and don't dig yourself any holes!
3. Read and understand the instructions on the maths test paper!

Been offered a place for the Feb. programme.

Anyone else on T2W who attended the same interview?

 

[sulkar]

I had the interview on Wednesday (09/12). Format as described by others, I can only pass on my wisdoms:
1. Don't be late - not even one minute!
2. Think of something INTERESTING to say, ask ORIGINAL questions and don't dig yourself any holes!
3. Read and understand the instructions on the maths test paper!

Been offered a place for the Feb. programme.

Anyone else on T2W who attended the same interview?

Hi,

I have the interview this week, was wondering after the interview how long do they reply back to you and whats the success % of getting on it? Also, can you choose which date you want to start (ie. the feb intake or the march etc)

Cheers.

 

[gjgv]

I had the interview on Wednesday (09/12). Format as described by others, I can only pass on my wisdoms:
1. Don't be late - not even one minute!
2. Think of something INTERESTING to say, ask ORIGINAL questions and don't dig yourself any holes!
3. Read and understand the instructions on the maths test paper!

Been offered a place for the Feb. programme.

Anyone else on T2W who attended the same interview?

hey...i was on that course and I start tomorrow (1st feb)

did u prepare using their course pack they sent?

kind regards

 

[Pitscum]

when a bloke called dan teaches you how to trade, make sure you ask him how he did when he used to trade........lovely guy though.....

 

[swingmeister]

is STA still trading the STIR market for the Graduate training program?

Got a group interview coming up soon... trying to do as much homework I possibly can.

 

[traderx007]

3 steps:
1) numerical test: 50 questions in 5 mins doubt anyone finishes it..
25 questions with 2*A - B examples A = 37, B = 69 ...
25 with A - B examples A = 70.23, B = 100.34
2) visual tests: another 5 mins.. random pattern stuff
3) everyone introduces him/herself for 1 minute timed so think of something good to say about yourself..

generally easy stuff.. and quite meaningless I must say..

TX

 

[swingmeister]

are both the Maths test and visual test computer based? any place I can practise the visual tests? thanks..

 

[traderx007]

no the Math is paper based, the visual test is computer based.. not sure where you can practise for it though..

 

[weakpunter]

when a bloke called dan teaches you how to trade, make sure you ask him how he did when he used to trade........lovely guy though.....

Lol , septic dan has burst more tires than michelin.........and to be fair this is coming from someone that traded arbs,boxes,spreads for 12 years.......dont bother they dont meanrevert anymore, if your looking to trade go outright , Ive spoken to a lot of my pals that run arcades and the 90% of the traders that are making real money are the outright traders, the spreads are blowing out every week and when they blow out they take you¡r whole months p&l with them if not your whole account........they are moving like outrights infact one of the popular spread/arb trades moved more than the outrights the other week, put your balls on the table and go outright........more movement,less commission, easier to define your stop, easier to get out for your profit , this is what will happen to you more than likely if you trade the above strategies,
mon-thurs grind out 500 quid a day.friday lose 3 grand when your spread blows.

 

[red army]

Lol , septic dan has burst more tires than michelin.........and to be fair this is coming from someone that traded arbs,boxes,spreads for 12 years.......dont bother they dont meanrevert anymore, if your looking to trade go outright , Ive spoken to a lot of my pals that run arcades and the 90% of the traders that are making real money are the outright traders, the spreads are blowing out every week and when they blow out they take you¡r whole months p&l with them if not your whole account........they are moving like outrights infact one of the popular spread/arb trades moved more than the outrights the other week, put your balls on the table and go outright........more movement,less commission, easier to define your stop, easier to get out for your profit , this is what will happen to you more than likely if you trade the above strategies,
mon-thurs grind out 500 quid a day.friday lose 3 grand when your spread blows.

your right they don't mean revert anymore, so but pick the right spread, do your analysis and ride the momentum - simple.

 

[Kai Zen]

I'm in at Schneider for August - Been sent the Pre-course pack.

Gonna have one last ''weekend of freedom'' then I'm gonna be all over it!

 

[TwentySeven]

I'm in at Schneider for August - Been sent the Pre-course pack.

Gonna have one last ''weekend of freedom'' then I'm gonna be all over it!

Kai Zen, any tips on the interview process and the tests concerned from a successful candidate, apart from the ones already mentioned? I have my interview this week

 

[weakpunter]

your right they don't mean revert anymore, so but pick the right spread, do your analysis and ride the momentum - simple.

whats the point of doing that mate ? if your trading directionally and for the momentum then putting a spread on defeats the purpose , thats unless you like clocking up spins for the sake of it. its the same thing a silly mate of mine said ......he says he trades the trend in the spread .......so i said why dont you just do that in the outright you plank!!

 

[red army]

whats the point of doing that mate ? if your trading directionally and for the momentum then putting a spread on defeats the purpose , thats unless you like clocking up spins for the sake of it. its the same thing a silly mate of mine said ......he says he trades the trend in the spread .......so i said why dont you just do that in the outright you plank!!

because you can get squeezed in the legs when the spread doesn't move and its harder to pick the outright perfectly. Plank!!! So instead of clipping your gay 20 lott outrights and running them for 4 or 5 prices if your lucky, i''l smash or lift 300 minimum and tick'um......I don't give a **** about a few spins as long as the money keeps pouring in and i feel relaxed AND NOT SQUEEZED in the trade!! Thats the problem with traders like yourself, your so obsessed with saving a bit of corn on your spins........makes my laugh!

 

[weakpunter]

redarmy, your a div mate I was clipping it monkeys when you was still in your gay dads nutsack ........youve left something out you length when mine go against me my exit is a no brainer, you ya mug on the other hand are still holding whilst its printing 5 ticks against you but only take a tick when ur right ,me i dont have that problem i take 5 ticks when iam right and iam out for 5 when iam wrong......shimples! now sod off your giving me the arseache ..........donut