fancy trading from barcelona, anyone?

[phatfish]

Hi,

I'm seriously interested in opening a trading office in Barcelona. It's a great city, has everything you'd want. Great nightlife, restaurants and is by the sea. Barcelona has also just completed a major fibre optic network installation. I'm at the point where I want to start trading serious size (index futures) but want the benefit of dedicated connectivity and some company. I don't want to move to london (expensive, cold and full of the worlds detritus). What's the point when I can just as easily trade from Barcelona and go sailing at the weekend?

So, the deal is simply that a few of us share the costs of setting up an arcade; we have the best facilities and resources for a reasonably small cost (@500 euro/month for a modern and stylish office). Perhaps set up an offshore account to trade through and look into getting exchange membership? If we do enough volume then a broker may put in a direct line for free? All this is possible with a little effort. I'm up for it and if you are independant, able, ready to commit for at least 6 months and willing to throw in a couple of $1000 into the start up pot then it could be for you. This is a serious proposition. If you are a profitable trader (or nearly net profitable but struggling to find your groove), probably futures although not necessarily and are free to up sticks and move (maybe in the new year) then feel free to reply.

Any feedback from prop/arcade traders as to the possible hurdles/ experiences that we may encounter would be much appreciated, thanks.

 

[phatfish]

So far I've had 1 response. Early days.

I feel there is absolutely no point paying good money to some prop shop, when, with 3/4 people a co-operative can be established pretty much anywhere. I think a real advantage can be had with the right infastructure and tools. But these cost, and this is what a prop shop offers, along with 'training' (which costs thousands). I'm a former lecturer and have a simple but effective trading approach based on S/R, MTF, a couple of oscillators and indicators and volume. I'd be willing, hopefully along with others, to help out anyone who is not quite there yet but has the means to get there.

In reality professional software and dedicated lines can be pretty reasonanble if shared by a few poeple. In terms of accounts, I think some sort of pooled account (the actual amount on deposit could be small and the individual could transfer funds regularly) could be a benefit, rather than traders using independant accounts. However, this could be done as more of an arcade and shared data and conection costs. The office could be open virtually 24 hrs giving the trader the opportunity to trade any session. I trade US hours. If you did this in Barcelona, you'd be finished by 10 and be hitting the restaurants at a good time, as they eat later. I would like to charter boats too and if others were up for it we could have some great weekends on the water. Of course, we could just go off and do our own thing. In fact, there are many possibilities to this scenario but also many variables.

Hasta.

 

[phatfish]

Great. I've had some really positive feedback. Possibly only room for a couple more and it's getting pretty exciting. We've scheduled a 'scouting' trip for autumn. Thanks guys,

phatfish.

 

[j m]

Hey Phatfish,

I am a trader living in London at the moment. I am potentially interested in your idea.

Can you fill me in on your progress, partners and trading experience?

 

[gedward3]

Phat,

Im out there seeing a pal in 2 weeks. If you need any info
bringing back or seeking out just give me a shout.

Ged

Great. I've had some really positive feedback. Possibly only room for a couple more and it's getting pretty exciting. We've scheduled a 'scouting' trip for autumn. Thanks guys,

phatfish.

 

[ffx]

I have also been looking into the move and am interested in keeping up with your progress and any info you could provide on office set-up, costs, partners, etc...
f

 

[phatfish]

Hey guys
thanks for your interest and support. I've been away in lovely suffolk, so I'm just reading the responses now. There has been some interest but not really enough to warrant the next step, I'm afraid. This will keep on the shelf for a while. The bottom line is @6 full-time traders who are willing to make such a move. It's a big step. I'll keep you posted if anything develops.

 

[ffx]

thanks, looking forwards to any updates... do you know of any existing arcades or possibilities there now?

 

[phatfish]

thanks, looking forwards to any updates... do you know of any existing arcades or possibilities there now?

I believe Swiftrade has an office there, and I'm sure outfits like Ecchotrade would be interested if a group of remote traders could be got together. In fact there is nothing stopping anyone working remotely using any number of firms that would provide you with facilities. This, of course, comes with a price tag though and the point of my project is more of a co-operative where facilities are shared and no middle man is taking a cut. As I've stated, small offices could be leased pretty cheaply and then it would be simply a matter of paying for connection costs etc (e.g. squawk could be had very cheaply if split between several of us). It could develope into something more akin to a prop firm if things went well but trading own accounts to start with would be a simpler way to get going. Living costs are pricey but It is a very popular city. A group of us could share a large apartment for a year (shorter leases are quite a bit more expensive). For six I reckon it would cost each of us around 200-300 euros/month:

Flat For Rent Barcelona Sant Marti Meridiana Consell De Cent

Of course, we'd have to be able to get on and cohabit and I'm aware some people have unusual habits and needs! Anyway, this could be a cheap way of living for the first year.
Office rents could be had for around 500-600 euros/month:

Barcelona, Spain Serviced Offices | Barcelona, Spain Office Space Search

So a it would cost each individual, based on a group of six, approximately 400 euros/month for living and office facilities. If you add another 100/month for services etc, then all in maybe 500 euros/month or 6000 euros for the year. For my money this is cheap living considering where you would be. Our working environment could also be very pleasant. Bottom line, if you can pull in a minimum of 12000 euros per annum from trading and are able to relocate to a lovely part of europe, then why not?

phatfish.

n.b. I've had a number of pm's showing interest but could I ask for a quick respone from anyone interested to post here. Thanks.

phatfish

 

[gedward3]

I think once your over there and setup you would get a lot of interest....

I believe Swiftrade has an office there, and I'm sure outfits like Ecchotrade would be interested if a group of remote traders could be got together. In fact there is nothing stopping anyone working remotely using any number of firms that would provide you with facilities. This, of course, comes with a price tag though and the point of my project is more of a co-operative where facilities are shared and no middle man is taking a cut. As I've stated, small offices could be leased pretty cheaply and then it would be simply a matter of paying for connection costs etc (e.g. squawk could be had very cheaply if split between several of us). It could develope into something more akin to a prop firm if things went well but trading own accounts to start with would be a simpler way to get going. Living costs are pricey but It is a very popular city. A group of us could share a large apartment for a year (shorter leases are quite a bit more expensive). For six I reckon it would cost each of us around 200-300 euros/month:

Flat For Rent Barcelona Sant Marti Meridiana Consell De Cent

Of course, we'd have to be able to get on and cohabit and I'm aware some people have unusual habits and needs! Anyway, this could be a cheap way of living for the first year.
Office rents could be had for around 500-600 euros/month:

Barcelona, Spain Serviced Offices | Barcelona, Spain Office Space Search

So a it would cost each individual, based on a group of six, approximately 400 euros/month for living and office facilities. If you add another 100/month for services etc, then all in maybe 500 euros/month or 6000 euros for the year. For my money this is cheap living considering where you would be. Our working environment could also be very pleasant. Bottom line, if you can pull in a minimum of 12000 euros per annum from trading and are able to relocate to a lovely part of europe, then why not?

phatfish.

n.b. I've had a number of pm's showing interest but could I ask for a quick respone from anyone interested to post here. Thanks.

phatfish

 

[phatfish]

Phat,

Im out there seeing a pal in 2 weeks. If you need any info
bringing back or seeking out just give me a shout.

Ged

Thanks for the offer. If I (or any others?) can think of anything, I'll let you know.

phatfish

 

[gedward3]

I now go in 2 days so anyone needs any info just gimme a shout.

Thanks for the offer. If I (or any others?) can think of anything, I'll let you know.

phatfish

 

[ffx]

happy to see you are moving along with your plan!

just my 2 cents, but BCN is quite cheap to live in except for the housing... make sure you visit some places before you finalize your budget!

i have also had some experience with the serviced office companies and you always have to add - at least - a couple of hundred euros to the advertised price once they start giving you the real run down!

all the best!

 

[scottX]

Barcelona

I'm looking into Barcelona as a base. I clear through a US clearing firm. All I need is a space and some fiber. It looks easy enough to get a long stay visa by taking some spanish lessons. Has anybody on this thread or those viewing it anything to say about Barcelona these days?

Hi,

I'm seriously interested in opening a trading office in Barcelona. It's a great city, has everything you'd want. Great nightlife, restaurants and is by the sea. Barcelona has also just completed a major fibre optic network installation. I'm at the point where I want to start trading serious size (index futures) but want the benefit of dedicated connectivity and some company. I don't want to move to london (expensive, cold and full of the worlds detritus). What's the point when I can just as easily trade from Barcelona and go sailing at the weekend?

So, the deal is simply that a few of us share the costs of setting up an arcade; we have the best facilities and resources for a reasonably small cost (@500 euro/month for a modern and stylish office). Perhaps set up an offshore account to trade through and look into getting exchange membership? If we do enough volume then a broker may put in a direct line for free? All this is possible with a little effort. I'm up for it and if you are independant, able, ready to commit for at least 6 months and willing to throw in a couple of $1000 into the start up pot then it could be for you. This is a serious proposition. If you are a profitable trader (or nearly net profitable but struggling to find your groove), probably futures although not necessarily and are free to up sticks and move (maybe in the new year) then feel free to reply.

Any feedback from prop/arcade traders as to the possible hurdles/ experiences that we may encounter would be much appreciated, thanks.

 

[spcmer10]

I'm spanish and

I have also been looking into the move and am interested in keeping up with your progress and any info you could provide on office set-up, costs, partners, etc...
f

i'm spanish I'm living in bcn and I'm a "trader" I can do a lot of work well in fact the first thing it's get in touch ( sorry about my english ) but for me take a look for the place of the office is very easy and well the costs ( I'm economist ) i suppose that the saem .
we'll with best regards
David

 

[phatfish]

Hi all

just a quick update for those that may still be interested in the barca idea. I've just returned from hols and have had a few more pm's from potentially interested folks. This may be a runner after all if we can get enough on board up front who are looking for similiar facilities and we can get them for the right price. Accommodation is a tricky one, I think, but a rented room to kick of with could be had for a modest sum.

The general feeling is that those interested would want pretty basic but essential facilities: desk, connection, equipment (or bring your own pc), news service, coffee machine, gorgeous secretary (dream on) etc. The office could be open all day and traders could come in for whatever session they wanted.

Over the next few months I'm going to make a detail costing of this and If I can get at least 6 serious parties together I'll aim to make a move early next year. Feel free to make suggestions.

phatfish

 

[stephen2003]

Hi all

just a quick update for those that may still be interested in the barca idea. I've just returned from hols and have had a few more pm's from potentially interested folks. This may be a runner after all if we can get enough on board up front who are looking for similiar facilities and we can get them for the right price. Accommodation is a tricky one, I think, but a rented room to kick of with could be had for a modest sum.

The general feeling is that those interested would want pretty basic but essential facilities: desk, connection, equipment (or bring your own pc), news service, coffee machine, gorgeous secretary (dream on) etc. The office could be open all day and traders could come in for whatever session they wanted.

Over the next few months I'm going to make a detail costing of this and If I can get at least 6 serious parties together I'll aim to make a move early next year. Feel free to make suggestions.

phatfish

yes sir i am interested,
please keep me informed.

Stephen.

 

[phatfish]

I've been talking with reps at MNI (Market News International). They can offer FX and Credit bullets, which should cover the needs of FX, commodity, index and stock traders for £150 each per month based on 5 or more of us. I'll look into other news services and if anyone has any preferences/ ideas then feel free to share. A pretty good email service comes with this too.

Market News International

phatfish

 

[stephen2003]

I've been talking with reps at MNI (Market News International). They can offer FX and Credit bullets, which should cover the needs of FX, commodity, index and stock traders for £150 each per month based on 5 or more of us. I'll look into other news services and if anyone has any preferences/ ideas then feel free to share. A pretty good email service comes with this too.

Market News International

phatfish

yes sir i am interested.
you can email me on [email protected]

 

[phatfish]

Quick update on News service providers. Tradethenews, which I'm currently trying out, is very good. I'm the Text Headlines package for Credit/FX/Futures. Excellent service for $50/month and they also offer futures Squawk. They may offer a good deal for several of us, I'll look into it and report back. MNI appears pretty pricey in comparison.

http://www.tradethenews.com/products-forex.asp

phatfish