mkyfutures
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Why dont you trade outrights then and do the same thing its cheaper-simple
Schneider Trading Associates: Graduate Training Program
Why dont you trade outrights then and do the same thing its cheaper-simple
whatever....jog on...
point taken....
weakpunter
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Duhhhhh , Jog on Lol your probably 8 by 10 in the ted .....giving it large.... muppet.
Your a bit touchy hay, I'd never disclose what and how I trade to you, but lets just say its a bit more than you stated. Like I said jog on and get on with your life, nice talking to you.........
weakpunter
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Listen captain big limits, If youve got 2 brain cells you´d realize your the one who started talking WTF you were clipping your spreads in I quote you "300 minimum" you said and you took it personal pal! I referred to my mate as plank not you , but seeing as you insulted me you deserved my reply.....stopping being a dry lunch and get back to your order book , if you wanna pick a bone with me go ahead, if you wanna STFU then we can leave it there OK? TA TA
)Shizzle007
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"prof trader program" ran by old pitt traders who can't trade themselves. this is a fly, this is a box, average, average again, don't worry they always come back. don't worry about commissions, look to the future, jus take a tick and at the end of the day you might be able to buy a big mack and if you get lucky, a happy meal.
weakpunter
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sounds as though your talking about the front fly, yeag averaging can killya, but generally pick the right levels, do size and that will pay for the comm and make you a nice profit..
This is complete and utter toss; just because someone couldn't crack it trading themselves doesn't mean they can't teach you something valuable. You sound exactly like the kind of fodder that swagger into a firm thinking they're going to be the next big swinging bag, that n-one can teach them anything, only to find themselves sitting in an interview for a ****ty IDB job 6 months down the line.
To survive in trading requires a wide range of skills and disciplines; someone who has a great understanding of market analysis might not have the mental strength to hold a position when he knows that it is technically correct to do so; does this mean that he has nothing valuable to teach you? Look at someone like Shaun Pratley, he is world-renowned in this field; how come he is not a billionaire? The answer is, plainly, it's not that simple. Conversely you have people who have no fear whatsoever, who also refuse to admit when they are wrong and blow up that way. Both people could teach you a great deal, regardless of the fact that they haven't made money from trading.
It is worth listening to people when they give you advice in trading, and it doesn't matter whether they are clipping 500s or they've busted themselves seven times over. The ability to learn from the mistakes and experiences of others is invaluable in this business; clearly that's something you have yet to learn.
Shizzle007
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So why when i google shan pratley nothing comes up? there's a lot more to trading than flys and boxes. imho if your gonna do this you need a mentor or someone to show you and teach you how to trade. not jus a course then thrown in like lambs to slaughter. sta=commissions factory with no emphasis on building traders
at another trading house, they're put on the sim for a few months being taught by a profitable trader who sits next to them and they're on a 50/50 split and they're allowed to go down a lot in account.
imho ur better off getting some experience, build some capital to live on, have a go spread betting and if successful then try and become a trader.
at another trading house, they're put on the sim for a few months being taught by a profitable trader who sits next to them and they're on a 50/50 split and they're allowed to go down a lot in account.
imho ur better off getting some experience, build some capital to live on, have a go spread betting and if successful then try and become a trader.
Yeah my bad, I meant Shaun Downey!
I wouldn't know about STA's exact business model, I was only commenting on the idea that you can't learn anything from someone who isn't a millionaire trader. I would say however that I do know a few people who came through their grad course and are doing pretty well, and I'd also say that if I were ever to move into prop trading (which I can't ever see myself doing but there you go) I would be happier with my money being somewhere FSA-regulated like STA rather than at some fly-by-night chop shop where they give the guy next to me a billion pounds worth of limits, who promptly blows up taking my capital with him. That's another matter though I suppose...
Shizzle007
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I completely agree with u, u can learn a lot from people who know what to do but don't have the mental strength. but do the teachers really know what your doing and where you're going wrong when they've so many grads under them?
once you are through the course you are out there all on your own. i can only think of two grads who can support themselves who have been there for more than two years.
I'm not saying u can't make it with sta and your money is safe there but at the end of the day for every grad who leaves there are 3 lining up to replace them. all you they want you to do is click.
your p/l trading the flys/boxes
gross: xxxxxxx
net: xxxx
desk xxx
split xx
and ur p/l after the occasional blow out (more than likely at the moment)
- xxxx
oh and don't forget the interest if u r neg euro and +£. and ur overnight margin call fees lol
once you are through the course you are out there all on your own. i can only think of two grads who can support themselves who have been there for more than two years.
I'm not saying u can't make it with sta and your money is safe there but at the end of the day for every grad who leaves there are 3 lining up to replace them. all you they want you to do is click.
your p/l trading the flys/boxes
gross: xxxxxxx
net: xxxx
desk xxx
split xx
and ur p/l after the occasional blow out (more than likely at the moment)
- xxxx
oh and don't forget the interest if u r neg euro and +£. and ur overnight margin call fees lol
foresttrader
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well, i tried their grad programme and this is what i have to say:
1. go there if you are a starting scalper (my view about scalping - scalpers are nailed by neural networks at exchanges>50 % of the time: scalpers are cornered when they enter and exit because those who have access (banks) see their orders coming and execute faster). So, instead of planned 4.5 you get 5
At the end of the day: speed of your reflexes<speed of a computer (machines scan the news and execute faster than the image of the non-farm payrol number reaches your eyes)
conclusion: spread trading by humans < spreads executed by computers
However, i must agree that 3-4 humans out of a sample of 1000 might succeed purely statistically
2. Cost: 1500 GBP per month + more if you want additional features that are free with lets say IB
advantages of schneider: you get colleagues and a routine that is simple to follow , whereas when you trade from home - you trade alone and you find it hard to maintain a routine
disadvantages of schneider: 1500 quid per month, whereas at home you pay 0 or close to 0; london is expensive and latency there, well, might be slightly better , but scalpers care - i don't. Anyway, latency at schneider does not match latency financial institutions have.
If their programme really worked, it would be outsourced away from fancy london to india/pakistan latency of mili/macro/etc seconds is not a factor.
Their business plan: make people pay 1500 gbp per month + commissions + extras - for what?fancy office in city with a blonde security guard?
conclusion - there is no free lunch, you get 0 edge
Price of their educational material - 0 quid. They don't teach you how to beat the market. Period.
They back you - nice. This is what caught me.
They only back you when you trade spreads............and when you trade spreads....you make little out of massive transactions - perfect pray for high frequency traders and brokers benefit, too
Compared to capital, you won't win much - you won't loose much =>arcade's insured=>you make/loose pennies=>then you realize that trading outrights (or if capital is not sufficient cfds) from your own account is the same thing (in my case less costly)
personal advice - STA grad programme is good for newbies who don't know much about trading, once you finish, get away from there and don't sign any papers
Schneider prop house in general: they are nice, honest people. For some/for a few it might be a perfect niche
For the record, I must agree that the kind of trading schneider teaches at their grad programme had an edge maybe 5 years ago.
1. go there if you are a starting scalper (my view about scalping - scalpers are nailed by neural networks at exchanges>50 % of the time: scalpers are cornered when they enter and exit because those who have access (banks) see their orders coming and execute faster). So, instead of planned 4.5 you get 5
At the end of the day: speed of your reflexes<speed of a computer (machines scan the news and execute faster than the image of the non-farm payrol number reaches your eyes)
conclusion: spread trading by humans < spreads executed by computers
However, i must agree that 3-4 humans out of a sample of 1000 might succeed purely statistically
2. Cost: 1500 GBP per month + more if you want additional features that are free with lets say IB
advantages of schneider: you get colleagues and a routine that is simple to follow , whereas when you trade from home - you trade alone and you find it hard to maintain a routine
disadvantages of schneider: 1500 quid per month, whereas at home you pay 0 or close to 0; london is expensive and latency there, well, might be slightly better , but scalpers care - i don't. Anyway, latency at schneider does not match latency financial institutions have.
If their programme really worked, it would be outsourced away from fancy london to india/pakistan latency of mili/macro/etc seconds is not a factor.
Their business plan: make people pay 1500 gbp per month + commissions + extras - for what?fancy office in city with a blonde security guard?
conclusion - there is no free lunch, you get 0 edge
Price of their educational material - 0 quid. They don't teach you how to beat the market. Period.
They back you - nice. This is what caught me.
They only back you when you trade spreads............and when you trade spreads....you make little out of massive transactions - perfect pray for high frequency traders and brokers benefit, too
Compared to capital, you won't win much - you won't loose much =>arcade's insured=>you make/loose pennies=>then you realize that trading outrights (or if capital is not sufficient cfds) from your own account is the same thing (in my case less costly)
personal advice - STA grad programme is good for newbies who don't know much about trading, once you finish, get away from there and don't sign any papers
Schneider prop house in general: they are nice, honest people. For some/for a few it might be a perfect niche
For the record, I must agree that the kind of trading schneider teaches at their grad programme had an edge maybe 5 years ago.
I can't comment on the other stuff you've said, but as far as this part goes - if you're looking for someone to hand you the keys to the markets on a silver platter, you're in the wrong game.
You can't teach someone to beat the markets; you can certainly provide them with the tools they will need to begin formulating their own edge, but nobody can take you all the way, or anywhere near all the way for that matter.
hear hear
have been offered a place on this. here's the deal, i've just graduated, 2.2 in maths from warwick. since i graduated i've been trading currencies from home. i'm currently still on demo, whilst i am making progress i am not yet profitable. i know i want to trade and will carry on trying until i get there but i cant decide whether to carry on trading forex from home or whether to take this course. any opinions?
itmtrading
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