setting up trading arcade

[shiv]

Would like to introduce myself...just joined today.

I am about to start training as an arcade trader in the city. I am fully aware that it will be an uphill stuggle for a while, as I learn the ropes, but I will make money.

I am already thinking about long term career, and am interested in knowing what is needed to set up my own trading arcade office in hertfordshire away from city life, but in a vibrant affluent area. I know some other houses are in Surrey, Essex etc so it is possible,

I am prepared to honour my contract, and am prepared to put the hours in but at the same time am considering my long term future.

Anyone who has any ideas on start up capital, equipment needed, strategy for running arcades ( profit split/self funded/fully backed) please share this information. I would be most grateful.

Also I need to have access to training, as this venture will require hiring of trainees. I have no trader friends etc so I am in difficult situation. Will firms such as Mac Trading provide their trainers for example for a fee?

This is a long term venture, probably will evolve over the next year and a half. I believe local traders will continue to become more popular as time goes by. Anyone interested in setting up a reputable office/arcade please feel free to give me a buzz.

Sorry for this long winded post. I hope to hear from some of you experts soon.

Cheers

 

[momoney]

Just trying to flesh out your idea....
what will make your trading arcade different from the others?
What research have you done so far?

 

[RitaSam]

What exactly is a trading arcade? I'm a yank!

 

[jmreeve]

What exactly is a trading arcade? I'm a yank!

Trading arcades are places where all your floor traders will end up when
your futures exchanges finally go all electronic.

 

[blau]

Shiv

If you dont mind me asking, which trading arcade are you starting training at?

 

[divinci]

Hi Shiv,

I was thinking of the same a while back. Nowadays there are so many good quality trading platforms out there that all you you would need to set up a smallish arcade is a couple of computers and a big, very reliable connection to the net.

My idea arcade however would accomodate lots of window area and natural light - spacious desks with those posh expensive chairs - workstations with 3 TFT screens each - a very sexy receptionist/tea girl (ooops.... sorry i mean 'personal assistant') pool tables, relaxation areas, fully furnished kitchen swimming pool, sauna and jacuzzi. Oh, and a stunning on-site masseuse.

Watcha think!

 

[SLICKtrader]

Divinci, gis a shout when your finshed because I could sure as hell work in a place like yours!

 

[IndexTycoon]

Divinci

Sounds like traders heaven however you missed out a further two very important features.......

1) A fully stocked cocktail bar with a range of vintage champagnes

B) A brand new chauffer driven Mercedes S class to get to and from the office :cheesy:


I.T

 

[waqr]

Would like to introduce myself...just joined today.

I am about to start training as an arcade trader in the city. I am fully aware that it will be an uphill stuggle for a while, as I learn the ropes, but I will make money.

I am already thinking about long term career, and am interested in knowing what is needed to set up my own trading arcade office in hertfordshire away from city life, but in a vibrant affluent area. I know some other houses are in Surrey, Essex etc so it is possible,

Cheers

Maybe you're putting the cart b4 the pony ??

Come back when you've mastered the making money part

 

[IndexTycoon]

Come back when you've mastered the making money part

By the sound of things running an arcade is the making money part ! :cheesy:


I.T

 

[CityTrader]

Funnily enough I'm going through the process myself now there's 4 of us ( experienced ex City traders) the hardest problem is finding some funky space- about 1,000 sq feet ( good for 6-8 guys) double height ceilings- something like a loft. The space that Mosaica@the chocolate factory ( Wood Green) uses would be ideal..
Any property developers/wannabe traders care to maybe exchange space for training and idea's? Joint Venture?

 

[TWI]

There are quite a lot of costs to consider both in setting up and in providing margin money for any people you may want to take on. Budget around 100k for setup and running til self sustaining and about 25k per trainee for margin.
Have to consider what it costs to make the business pay at least monthly running costs. This is not cheap and it means you need people paying fees. Best you get these before you spend anything.
Trainers come from the companies who provide the training platforms either direct or via the clearer. Trainers are 350-500/month.
Don't expect help from the likes of Mac as you will be their competition.
Thing is, if you cannot teach them a way to make a living you will not survive long as they will blow all your margin. Most important thing is to have a methodology to teach.
Much cheaper to sit in somebody elses arcade until you have everything sorted out.

 

[minx]

To attract the people who do the real RT's a month you need to invest, no over-invest in your servers adn the link to the exchange, pay a fortune to an IT guy who knows the systems inside out and have systems in place when you get slowdowns. The place I work at has regular 'down' periods and it drives me mad.......

 

[Robertral]

By the sound of things running an arcade is the making money part ! :cheesy:


I.T

of couyrse the arcade owners make money...they make money fropm guys very desperate to have the title "trader" who are paying up massivley for the privillage to "trade" at an arcade......there is no skill to being quick in hitting a bid or lifting an offer......why don't you all just get a connection at home and trade....when u start at an arcade you only trade small size anyway (2-3 lots); which u can do at home...the only benifit I can see is that the arcade gets a discount due to the volume it trades per month and passes that onto you...you'd be better off paying the extra commision from home than the stupid desk fees....just a thought!!!

 

[zigglewigler]

Carlsberg don't do trading arcades, but if they did, then I'd be interested.