Futex 1st interview

mate :eek: i know three different people who work there and all three of them love it, they cant wait to get in in the morning and dont take a minutes rest from always talking about work, infact if it wasent for their enthusiasum i still wouldnt have a clue about what they all passionately cant shut up about, trading and futex :p
 
I doubt a trader wouldn't want those things but good to know it's not an income generator for them.
 
why are you worrying about all these small questions mate. dont worry about why some folk isnt smiling, get your bloody foot into Futex, and if they offer you something, grab it without hesitation.
I dont think you have fully grasped the potential of 'financial success' that can come with support from firm like Futex or another reputable prop firm, combined with a traders own talent ofcourse.
 
I have fully grasped it but It's the potential for financial success that I was worried about hence the questions. I don't question a prop firm model and I quite like the idea. But evidence of "financial success" of some prop firms is questionable. So why would I not want to question the companies financial position? If you were a successful but small time independent trader trading only 3 contacts a trade, the pull of the possibility of being about to trade 2000 contracts would sounds a dream come true. But only if it's a reality. If you look into the balance sheets of several different prop firms some standout for good reasons and some for bad. But either way if you are going to commit your future to any employer surely you would want to find out as much as possoble. Maybe to non trader straight out of uni these things that aren't important but when you have been around a while, traded alot, seen prop firms come and go it's only natural to have a few questions.
 
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from what i hear they have some of the cheapest round trips, one of the best splits, had a record year of profits and most importantly one of the best restaurants in England a stones throw away (Namaste), what more can you ask for :p and i think the financial success depends more on you rather then them, considering the owners are reffered to as some of the best old skool pitbulls from the pits and ahead of the game when it comes to aspects such as taxes etc etc.. did i mention the excellent restaurant just down the road ohh yeah i did :)
 
I wonder what their record profits were? Or would that be asking too much...:) Restaurant sounds good though.

Anyway don't want to make a big deal of it or look to be knocking futex specifically. MY questions where only as a suggestion for others to think about. Nothing more.
 
If I didn't have any money and they were backing me I wouldn't give a hoot.

But if I were putting in money of my own I would of course check the financials and do my due diligence.
 
You mean me ?

I was just replying to Hooya RE due diligence.

I don't get the point of joining a prop firm if you have sufficient funds of your own, but if you want the company of others and are getting too lonely at home or sthg and want to go in self backed I would have the financials checked, there are far too many prop firms that have blown up over the years to not engage in that minimal due diligence.

If I were like most and just starting out trading 100 % of their money I'd be less bothered, but obviously depending on length of contract if you're profitable you'd still want to see whats what on the basis of hard facts to ensure that your funds will remain safe there.

That said I think most people at prop firms will tend to be scalpers who don't keep all that much of their money with their prop firms, most of the scalpers will regularly withdraw the bulk of their earnings and start the month or the quarter fresh with a nominal amount, in which case there isn't much to worry about either no matter what happens.

The ones who really need to do their due diligence are the swing or position traders who will have the bulk of there funds with their broker to compound with.

Self funded swing or psoition traders are really the only ones who would have massive problems IF their broker or prop firm go belly up, but I don't think there are too many of those at prop firms to begin with.
 
BSD said:
But if I were putting in money of my own I would of course check the financials and do my due diligence.
Click to expand...

Exactly. If you were a profitable trader looking to be able to trade greater lots but would have take a 6-12mth drop in income it makes sense to check who ever it is out.
 
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dilesh are you actually at futex too ?

I mean I know pelzar was - whiz kid sitting next to TD -, not sure about you though, are you in, or trying to get in ?

Doesn't actually have anything much to do with anything, but just wondering.
 
nope not at futex, have a few friends who started recently, and my mum has a restaurant which is a few door away so using this thread as an opportunity for some free advertising, any chance i can get :p in between some probably wrongly informed information :p
 
Haha yeah remember that restaurant you talk about sometimes, and why not anyway.

:D

But thx for the answer.

If you live there anyway why not try and get in too, Futex I mean.
 
i dont live in Woking :p and im guessing they wouldnt hire me, who unlike my friends, who graduated from good universitys with masters etc failed at a sociology degree at Bath university :p
 
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