Tradestation/arcade where you're paid

[spc]

Trade Station where ur paid

Hi

Would anyone happen to know of any trade station/arcade where they actually pay you to day trade for them and in return get a commission or salary. I guess the salary would be the size of peanuts, which is ok.

I know they has this in the US and you don't really need any qualifications to get in, they basically teach you their system to trade and if you start loosing a certain amt u get the boot.

A bit like the turtles, but much lower level

Tks in advcance for replies

 

[London prisoner]

I don't know where you hold your info from . i never heard of any firm in the US that actually hires people without credentials and pays them a salary. From what I hear either they are MM's and they hire graduates or they are an arcade and they just provide trading facilities for a fee.

 

[Robertral]

try saxon, futex etc......they pay about 500 a month, but you wont make any money if you haven't traded before

 

[spc]

tks Rob

 

[gem11]

try saxon, futex etc......they pay about 500 a month, but you wont make any money if you haven't traded before

Why not?

 

[TWI]

There are places that will sponsor the right candidates. My advice is do not look for a salary, look for cheap transaction costs and a good profit split. You will make a better return yourself with a deal which is based on a pure split than one where you are paid some pathetic token salary.

 

[gem11]

There are places that will sponsor the right candidates. My advice is do not look for a salary, look for cheap transaction costs and a good profit split. You will make a better return yourself with a deal which is based on a pure split than one where you are paid some pathetic token salary.

Thanks Twalker,
my question was, are these grad programs useless if you have no previous trading experience? As much as I understand, they leave you pretty soon on your own devices, anyway why shouldn't one be successful by starting to trade with them. I've been successful only in investment before (as a student), as I had some strong views on stock and let the winners run. Now I would like to learn how to trade and I think there shouldn't be any conflict between the 2 approaches.
What is your adivce?
Thanks.

 

[TWI]

These places will train you in a method that will make money. Whether it makes money for you however while you are under contract will be dependent on what they are charging you in costs.
It is difficult to know where are the good shops and where not for somebody going to an interview and desperately wanting to become a trader. Just try and minimise your own risk and ask around on boards like this about a shop before you sign a multi-year contract.

 

[Verno]

Gem, Investment trading is very different from day/arcade trading. Investment trading generally uses fundamentals firstly and you are looking for a return. Day trading is timeframes of 30 secs to 3mins (in most arcades when trading volatile products). Here you are looking to make 1-2 ticks and if you really let your winners run then 5+ ticks. Nothing dramatic but you repeat in a number of times.

I agree with twalker, look for low costs etc. £500 a month might help but in my experience they make you repay it eventually by taking it out of your profits if you are successful. Also it take a long time.