Schneider trader

Discussion in 'Professional Trading' started by wongdill, Mar 25, 2006.

  1. wongdill


    Any tips guys? just got an email from them as want to take me in as a Trainee Associate Trader.

    It says on the email that:
    You should allow 2 hours for your visit during which time there will be a written math¡¦s test, an informal presentation from our team and an opportunity for you to put your questions to the Directors.

    As I will be having this interview next thu 30th March. so Any tips will be welcome.

    Many thx guys. happy trading
  2. cml2949


    Don't ask how long it takes to become a trader. Also review over probability problems and heavy mulitplications with decimals.. Take it easy and have fun .. It probably won't be your only interview.. What do you know about them?
  3. wongdill


    yeah i have read enough over how long it will take to become a trader n i know that it's not going to be easy. as you said i am just going to enjoy my interview and hopefully take something out of it!

    i would say all my life would be involve with numbers as i have a degree in maths n comp sci in a top uni. but i must say that calculations by heart would be my weakest! see how it goes.

    i would say i know pretty much of how the basic terminalogy and how different kind of trade works, ie cfd, fx, options, spread bet, futures, shares etc. simple chart spoting knowledge as well but don't know whehter that's going to be enough.

    i know that interview will probably consist of 2 parts. one with numerical test n personality test the other would be a group chat with all the directors. just want to see whehter there is anything needed for me to have a quick brush up before i go in the interview!

    any suggestion/reply are welcome. thx for the quick reply too!
  4. ananda


    If you are talking of Schneider in the City of London (Leadenhall Market) the same people who run a hedge fund incubator, then ask them very, very specifically about what "methods" or "systems" they adopt. A year or so ago they were trying to teach a bunch of people new to trading how to trade a spread of the bobl vs the US 5yr. They claimed their "method" had been backtested.

    But it was never made remotely clear what their "method" was and the guys doing the teaching seemed to change their minds from day to day.

    It really all bolied down to a more or less gut feel as to where the spread was going. Purely discretionary. No backtesting possible therefore. But it was tough to get them to admit this. And frankly, on that basis, why bother with the complications of a spread anyway. May just as well trade an outright.

    Does it feel like a range has been established? If yes, then does this look like the boundary of the range? If yes, then lets play mean reversion for a hour or so. Oh dear! Bother, the spread seems to have broken out of the range - hey, I think its going further, lets follow the trend for a bit. And so forth. You get the picture.

    The trading floors are full of no-hopers bleeding themselves dry paying commissions and seat hire. There are a few, a very few discretionary traders who seem to be able to read the markets right and seem to make a good living. But of those I spoke to there was no one who had been making a good living for more than a few years. I suspect the drop out rate is phenominal. probably the same for all these shops.

    No doubt now this thread will fill up with the usual bluster from vastly successful individuals claiming to make 80% a month. But that is my impression of Schneider. Great for the owner - commissions and seat rental pouring in from the clients (IE those who rent their own seat and put up their own risk capital.)
  5. FredBloggs

    FredBloggs Guest

    ive always had a lot of respect for sonny (the owner). hes one of the good guys.

    his little creation though now seems to have grown into a monster and has its claws into all sorts of areas - the arcade is just one side of it. when it was just an arcade with sonny running the show it was a different place. mind you - so was trading the spreads as all these places do now.

    now it seems run by a load of 'directors' who imo seem full of ego, with little care about the traders.

    last i heard, they would take a grad intake in of say 20 traders, and then routinely kick out the worst guy at the end of every week until they were left with say 5 people. its a knock out! other places tend to take more care in who they recruit, and do their best to make sure they are helped as much as possible to succeed.

    if i were you, id go in with a positive attitude and do your best. if you get a place, great. if not, treat it as experience for better interviews with other prop firms.
  6. wongdill


    yes definately going in with a positive thoughts. anything that i am having would be a bonus to me. so whtever the outcome is going to be i would still be happy. either experience or a place over there!

    yes i heard from different forum that they take a lot of ppl n kick some guys out every week. so on my states it may be a little risky as iam actually at work. (although it's not a well pay job at least it earns a living) but will see how it goes over there n will let u guys know. heard that the interview will take on 20 ppl from those guys n it consist of only one interview. (with an option of 2 days to choose from)

    so all these trader story has to start off with failure with a very poor background isn't it? does that mean all those trader was born with a golden key in their mouth or do they just hang on until the end when they may be earning 100 quid a month?

    actually i am just really eager to learn about anything in the stock market as this will definately benifit my future career. a trader may be one hard way to go for but i guess any other job ie. plumer, builder, doctor, chemist, sciencetist, teacher etc... they all havfe a wonderful sad story/path behind their back anyway. so might just get on with it with some kind of determination in the back of my mind.

    my parents recently said to me son, when are u going to find a proper job n settle down as i am 25 already. ( although i am not a mummy's boy as i am on my own abroad living by myself n working in a small co as a broker, i do tend to listen to what they say) but i mean getting into the stock market to become a trader/broker can be a little risky in terms of employment but so is life right? even if u were working in a top tier investment bank u can still get sack after several years if u don't perform. my point is that i have not doubt in my mind that i want to learn as much as i can about the market so even in the future if i weren't doing sales/trades as my job i can still be doing work which are involved in the market. at least those figures n charts are what i am interested in anyway. hopefully faith n self beliefs will pay off at the end when they see me as thier millionaire son.

    happy trading guys sorry it went into a little more personal thoughts. thx once again for the replies previously n encouragement!!!
  7. let us know how you get on with the interview.
  8. wongdill


    yes will do, will let u guys know what's going on in the interview too.

    some more replies will cheer me up though:D :D :D
  9. it's what you *don't* do what you are sorry for later, not what you did. so sure, go for it.
  10. Try to search more at T2W. It's very helpful.But then you must make sure you know e'thing about that co. I went to an interview with another co before. Trained for 6 months, actually just 2 months. I was the 1st one went live trading. Created my own system that can consistently make money. But I didn't get the work permit. So right now,I don't know what to do. To be frank, I can consistently make money. I've so hard for it and never regret about it. Now I'm trying to get some capital to get me into trade again. On my own. But it may take about 4 to 5 years because i'm working outside of europe and uk.
    #10     Mar 28, 2006