SOCRATES
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Obvious, is it not ?rogerha said:This has been an interesting thread. I went to visit a Trading Arcade for a day at which my friend was an Interest Rates trader (of some 15 years). I asked him what they taught trainees. He told me that his particular arcade was a 'Spread Trading' outfit, therefore that is what they taught the trainees.
He was one of about 3 guys in there (from what I could see), that was actually making *real* money. I asked if any of those guys traded spreads, they just smiled and in not so many words said 'No' ! I never found out how they traded (obviously), and I think they all had their own individual means and methods, but they had nothing to do with the trainee programme there at all.
So it kind of fits in with what Socrates has been saying. I got the impression that day, that this particular arcade taught you to trade particular spreads using certain methods. I think you could eventually make money out of it, but even then, with desk fee's, comissions and profit split, you had to work damn hard for your money. All the while, whilst you were sweating blood just to make a few quid, there was a group of 'Real' traders in the corner !
Admittedly that was one arcade, and I am sure not all are the same. I am looking to move to an arcade, but I think to get the best out of it, you have to go in with some knowledge already and be able to look for opportunities rather than outright 'Methods and Answers'.
Now if you want to have some fun.....some real fun.....ask the resident psychologist what he does to turn failures into successes......... ask the trainer how and what he trains....... ask the trainees what they have learnt........ ask the ones in the corner why they smile and keep to themselves, and...ask the owners of the enterprise to truthfully give you a breakdown of how profits are derived and see what answers you get.......... ask yourself why these ideas are promoted and who benefits from these promotions, who are the predators and who are the victims, and who are the ultimate victors.
All of it is obvious, perfectly obvious.