What do you guys think of companies like Futex?

[bhavyt]

TCA and Schneiders are very different. TCA did run a graduate scheme which I was on, however they have now closed that down and your best bet would be to start as a remote trader under them or to apply for an in-office position.

TCA and Schneiders have very different trading styles, the TCA graduate scheme seemed a lot better than what I saw from the Schneiders one, the retention rate at Schneiders is minimal.

 

[Scalper One]

I had an interview with Steve Davies of TCA, I asked several direct questions, to which he avoided answering or point blank said no, how many traders you have ? how much do they make on average ? can I talk to one or two of them? why are your accounts so late with companies house, where's the capital to trade if not in the accounts, why has the company changed its name 3 times ?

Hence not for me

Regards

 

[fifty2aces]

Is Schneider & TCA the same people as the office addresses are the same, anyone done there courses ?

Regards

I believe they both use the Fortis trading floor, which is why they are at the same address.

 

[traderboi29]

The minimum requirement for applicants will be a degree to a 2.2 standard or better. Applicants with programming skills in excel, VBA, C++ or other will be viewed favourably.


how does having a 2.2 or better and programming skills in excel, VBA, C++ make you a good trader? better still are they looking for a trader or IT engineer? never understood why they have these stupid and silly requirements!!!

 

[undertrader]

The minimum requirement for applicants will be a degree to a 2.2 standard or better. Applicants with programming skills in excel, VBA, C++ or other will be viewed favourably.


how does having a 2.2 or better and programming skills in excel, VBA, C++ make you a good trader? better still are they looking for a trader or IT engineer? never understood why they have these stupid and silly requirements!!!

Programming is So you can program your own black boxes, duh. Doesn't make you a better trader but if you happen to be a good trader and have those extra skills, it cant hurt....

 

[traderboi29]

Programming is So you can program your own black boxes, duh. Doesn't make you a better trader but if you happen to be a good trader and have those extra skills, it cant hurt....

DUH!!!the whole point of trading is to TRADE and make money.......not to be a PROGRAMMER!!! thats my point exactly, i mean why would a trader have these skills in the first place unless he was a computer grad who decided he wanted to trade......still, the DEGREE criteria still bugs me........there are so many people without degrees that are successful traders, but yet some prop houses still don't realize that and wont even look at a CV unless they have a 2.2 degree or above........so how is having a 2.1 in textiles or art going to make me a better trader than someone with no degree, 7 year sales experience and drive and ambition?......anyway enough of me moaning.

TB29

 

[bullcar]

If you research you will find the ration of grad traders v non-grad traders (employed at major IB's) is 20 to 1.
Bit like most top jobs really.

 

[PualoP]

DUH!!!the whole point of trading is to TRADE and make money.......not to be a PROGRAMMER!!! thats my point exactly, i mean why would a trader have these skills in the first place unless he was a computer grad who decided he wanted to trade......still, the DEGREE criteria still bugs me........, but yet some prop houses still don't realize that and wont even look at a CV unless they have a 2.2 degree or above........so how is having a 2.1 in textiles or art going to make me a better trader than someone with no degree, 7 year sales experience and drive and ambition?......anyway enough of me moaning.

TB29

If you had a choice of two candidates would you rather have:

a) BSc Economics, MSc Financial Mathematics (thesis on algorithmic trading), Advanced VBA skills, traded personnel account using proprietary model whilst studying.

b) D GSCES Maths, C GCSE English, 7 years 'sales experience' working in the local CO-OP, started punting on the FTSE at 10p a point cos' it's like a fruit machine but I can do it from my bed.

 

[bullcar]

made me smile PP.

Exactly because you hit the nail on the head.

The competition to get into prop houses is fierce. I know my friend who recruits gets dozens of cvs per day when they are not advertising. And when they occasionally do because they have a specific required the numbers hit the 100's

 

[traderboi29]

If you had a choice of two candidates would you rather have:

a) BSc Economics, MSc Financial Mathematics (thesis on algorithmic trading), Advanced VBA skills, traded personnel account using proprietary model whilst studying.

b) D GSCES Maths, C GCSE English, 7 years 'sales experience' working in the local CO-OP, started punting on the FTSE at 10p a point cos' it's like a fruit machine but I can do it from my bed.

ok so here goes..........

a)so he has all these greats qualifications, top grades and everything but when it comes to trading he loses consistently and has hardly made any profit. great mind but doesnt have the discipline to trade.

b)average grades but highly motivated and the right attitude, 7 years sales experience which he was promoted several times(proving he has the discipline and determination), punting FTSE at 10p but consistently returning profits.

now who would you choose? to be honest it really is case by case but i suppose what i'm trying to point out is that most companies tend to overlook candidates who have done well in other areas other than finance, for instance at OSTC trading in bromley there top trader is an ex-estate agent with an architect's degree....just goes to show that maybe the criteria should be widen rather than focused on the traditional maths degrees and so and so.

 

[police]

sorry TB, but you have a misunderstanding - those with top grades already demonstrate they have discipline and drive. And often they have other great things on their cv's too.
eg: played squash for england - top athletes - rowed for cambridge - climbed several hard mountains - won sholorships (when the competition was 1 in 1000).
yeah maybe they do not have a 10p ftse track record, but they are very impressive people.

Honestly, I suggest you concentrate on what works for you, what your strengths are, and lose this chip. AND if you have a track record show it to some props - if it as good as you infer you will get backed

 

[traderboi29]

sorry TB, but you have a misunderstanding - those with top grades already demonstrate they have discipline and drive. And often they have other great things on their cv's too.
eg: played squash for england - top athletes - rowed for cambridge - climbed several hard mountains - won sholorships (when the competition was 1 in 1000).
yeah maybe they do not have a 10p ftse track record, but they are very impressive people.

Honestly, I suggest you concentrate on what works for you, what your strengths are, and lose this chip. AND if you have a track record show it to some props - if it as good as you infer you will get backed

Police,

obviously you never read my post's before replying, i was talking about people without degrees with a good track record in trading being passed over for someone with no experience and a 1st class in say textiles!being successful academically is no guarantee someone will do well in trading, it's like saying having a 1st class in say maths will make you a super sales executive! if you have read New Market Wizards there are many examples of this i.e. one example of a guy with an IQ of 185, YALE university, involved with sports etc etc who was taken on the at same time with a guy with an average IQ, from a sales background by a top hedge fund manager, now who do you think the fund manager let go?surprising the average guy done really well and the smart guy got fired cos he couldn't trade for sh*t.

and i was not talking about myself getting into a prop house, i was merely having a moan in general about the selection criteria of the majority of prop houses.if an ex-estate agent can become one of the best traders in OSTC Trading in bromley, then why can't an ex-recruitment consultant or sales executive. all i'm saying is that these people have skills which are generally passed over therefore potentially losing someone with star potential that could become a good trader. i just feel prop houses should look outside of the normal selection criteria.

i think trader_dante wrote an article about this somewhere on this forum, have a read.

TB29

 

[gooseman]

top and bottom of it is that is the way it is. whatever you think about it.

personally i like to be able to have a chat, chew the fat, toss some ideas about with someone who is not a wide boy, full of chat but someone i know has applied effort to something and has a natural aptitude or ability to learn. call it narrow minded or whatever but this is what i think.

 

[khanr3]

Futex Interview

Didn't get it in the end, but have been offered a place at TCA-Futures, they are in the City too which i'd prefer than trekking in to Woking every day!}
Hi Bhavyt,
I am thinking of applying futex. Can u help me how did you get pass first two round?how is their assesment looks like?
Plz email me [email protected]