it can take a new trader anything up to a year to become profitable... so you have to support yourself for that time..
What your saying doesnt agree with Saxons site. They are suggesting that traders receive a small salary when they become trainees, and no desk fees are mentioned. Perhaps their site has changed since I last visited it.
trust me there is always a cost to trading .... All Saxon's traders are self employed and do not get a salary ... they may get a draw against future earnings very small ... last I read on ET in London it was £500
Trainee, I have a friend who works at Saxon Montreal. He seems to enjoy it and says its a great company.. I'm pretty sure the desk rent is about $3500/month. You don't put any money down and the desk rent comes out of your trading account. Honestly, as determined as you seem, you should just go knock on their door. Good Luck
Trainee, Szeven is correct stock prop shops ( not trading arcades) dont ask for any deposit . Maybe its not paradise (rebate game) but if you are a green and looking to make a few coins it might be a better place to start ( just dont pick up too many of their bad habits i.e eternal average down and taking small profits). If you are really want to trade futures and pay desk fees and pay commish (you tend to receive commish in the rebate game instead of paying in my case sometimes 50$ to 500$ in a day) you will need to be ready for a 6 to 12 months without a penny . Are you ready to trade on a simulator for a minimum of 2 or 3 months (more if you don't show any results) . If the answer is yes then go ahead and knock on cft or saxon door ( forget about email step it up and show them you are intense on ready for the battle.
Trainee, Szeven is correct stock prop shops ( not trading arcades) dont ask for any deposit . Maybe its not paradise (rebate game) but if you are a green and looking to make a few coins it might be a better place to start ( just dont pick up too many of their bad habits i.e eternal average down and taking small profits). If you are really want to trade futures and pay desk fees and pay commish (you tend to receive commish in the rebate game instead of paying in my case sometimes 50$ to 500$ in a day) you will need to be ready for a 6 to 12 months without a penny . Are you ready to trade on a simulator for a minimum of 2 or 3 months (more if you don't show any results) . If the answer is yes then go ahead and knock on cft or saxon door ( forget about email step it up and show them you are intense on ready for the battle.
ksonic i think its 3500 in mtl also but u get what u pay for if u make 500k at saxon u get like 90 percent wich is awesome so as a rookie its ok to pay those desk fees when u come out of harvard and get a job on goldman sachs trading desk they give u 10 percent payout on profits then when u have experiance and a track record u go to a hedge fund and get 20 or 30 percent of the profits so same thing here u trade futures for saxon for 2 years get experiance then trade your own money u gotta start from some were
its funny 1 out of 10 people make it in the trading business so any 1 that tries to trade has a 90 percent chance of failing but before they start trading there looking for the best deals when they should be looking for the best training i would rather pay 10k in desk fees but be profitable for the rest of my life than pay $200 in desk fees and be the 9 out of 10 people that fail so in other words if u looking for the best deals before u ever traded so with that mentality u have a 99 percent chance of beingthe 9 out of 10 people that fail in this business
alex 104 would u have any idea about the singapore office what are the charges there and how do thing work out over there
Hi everyone, Thank you for the entries about this issue, especially to this career path that much people follow and I had no idea. At this moment I am working with Reuters and due to my University focus and will, what I really want to do is to trade. I am considering seriously starting in a prop firm either in London, Gibraltar or Madrid. I also applied to Saxon and get an answer, Trainee note the correct email should be HR@saxonfinancials.com. alex104, I agree with your vision about how much import it is to be seated next to great trader from which you can learn, and some months of training are really important to prevent you to make mistakes. I would ask your suggestions on what other prop firm would you recommend for a junior like me in London/Gibraltar. Off course my commitment is really strong to agree in just using the simulator to test the trading models I've developed when working in RTS. By the way, I am currently studying to CFA, were there any interesting books or sources of training that really gave your basics. Many thanks