Futex vs Schneider

the guys at futex are not mugs and you will be surprised how small the world of prop trading houses is - if you "fail" at Schneiders I doubt Futex would take you on if you are percieved to have failed with another house. Good luck anyway
 
police said:
the guys at futex are not mugs and you will be surprised how small the world of prop trading houses is - if you "fail" at Schneiders I doubt Futex would take you on if you are percieved to have failed with another house. Good luck anyway
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that’s why he has to keep a low profile. Go in interviews, try to impress and that is it!

do not mention in either that you have an interview to a competitor.
 
I want to try for Futex's singapore office. Do you think its possible with a short trading record (i only started trading on 19 nov 08). And im a short term trend trader, not like those fast and furious daytraders, will i be able to trade my style since i won't generate much commissions for them.
 
teojh said:
I want to try for Futex's singapore office. Do you think its possible with a short trading record (i only started trading on 19 nov 08). And im a short term trend trader, not like those fast and furious daytraders, will i be able to trade my style since i won't generate much commissions for them.
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the best thing you can do is ring them and ask them ;)

ps: prop firms doesnt make money only from commisions
 
You could take a job at Trader Idol, get a couple of week's training and then trade spreads knowing that any day could be your last, or you could go for a position with in-depth, structured training and support... I can think of another well-known firm who gave jobs after one group interview.. the guy in charge looked a hell of a lot like Ben Affleck.
 
i think the term you meant to use was PROP IDOL . referring to the daft way schneider selects traders, being extremely similar to x factor style selection process.
 
I've heard from a few people now they have a heart monitor they attach you to during selection, can anyone shed light on this?
 
i have just e-mailed the guys that run the Schneider grad course, and yes they do attach a heart monitor to the grads, only to check there heart rates when executing orders. not that often but yes all the same.
 
the guys say it is very tongue in cheek and everyone on the course has a good old laugh.
 
arabianights said:
I've heard from a few people now they have a heart monitor they attach you to during selection, can anyone shed light on this?
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Thought I mentioned this to you. It measures heart variability in it's pattern. They fire orders at you and monitor your heart pattern and then find something remotely useful out of it allegedly (and it actually is real, not some fake stuff)
 
riteasad said:
Thank you for your help, I have been offered a place at schneiders starting 3rd Nov 08. Any tips on how to survive 4 weeks, I heard they keep 3-5 out of 23 trainees.
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Hey,

I have an interview there in 10 days. Also if I go through the interview i will do the 4 weeks.
Please explain to me the interview structure.
Also How did your 4 week course go?
Are u working there now?

Kind regards!
 
With the schneider group assesment is there anything else you do apart from tests?
 
Skill Leverage said:
I haven't been, but from the sound of it turning up is at least half the battle
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lol tell me bout it
ive been trading all my life, but have had the luxury of waking up at 9am ish - 10am ish
but still managing to wack in a good 1 - 2% a day
same applied when i was managing OPM...lol was at college in those days...missed the first couple of lessons (they too early boi) traded during lunch or after college...then just chiillld alll day long - ah those were the days. (god damn fsa)

so i decided allow working for other companies, im a single minded person, the way forwayd for this ngger is to raise own munnay for own cumpannay. Dont giv two fks when lil hoes start saying ''well if u dont wake up at 6am u will never become succesful''.
 
Last edited:
rudolfo said:
hi riteasad,congrats coz i was offered a place as well starting in november.Please can u clarify what i've understood:
Almost sure:
1)we start in 20 and we remain in 3/5 at the end of the month.
2)each two weeks they show the exit door at the poorest ones.
Then answer the questions please:
1)Do we pay anythink for the 1st month training?
2)Do we use only company capital?
3)How much size do we need after the 3rd month to breakeven the fixed desk' costs
4)Must we pay the desk facilities worth 1700/1800 only after the 3r month course?
hope you have more nfo please let me know soon..
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to answer your questions:
1) if youve been selected to attend the grad course, you will be about 20 ish people. from the second week onwards, at the end of the week they will get rid of a few people. there are no requirements for people to remain or to get rid of. if you are all good you will all stay. the inverse is also true.
2) when you start trading, the fees will be very small. ie about 300 pounds a month, but these will increase progressively until the fees wilkl be about 1500 pounds a month. having said this, you will not have to pay these fees, but will be debitted from your trading account. if you are backed by the company, and you never make a cent, you will pay nothing. obviously, if you are looking to make money, you will need to pay the fees before you can start drawing money.
3) if you make it to the last week, and they think you have potential, they will offer you a place and you will trade with their capital. if they are not sure, they will offer you the option of putting 50% capital yourself.
4)as for the size you need to trade, that all depends on your skill. i have been able to pay full desk fees trading 1 lots in two days. having said this for the first 3 months i could not manage to keep up with the fees because my trading was not up to the task.
5) the course is 1 month long, then you will be trading live at reduced fees. expect to be paying 1500 pounds a month once you get to 6 months in. having said this, at this point you should be making at least that much every month.
 
Masquerade said:
Thought I mentioned this to you. It measures heart variability in it's pattern. They fire orders at you and monitor your heart pattern and then find something remotely useful out of it allegedly (and it actually is real, not some fake stuff)
Click to expand...

just a follow-on from this. the heart rate monitor attaches to your ear. basically it is a stress test. they fire orders at you while you execute. the main purpose of this is to find out how clued up you are, not how stressed you get. ie, if you execute the wrong order and the graph spikes it shows that you realised that you made a mistake. if it is just normal, then obviously you do not know what you are doing.
 
hey.
Thanks for all the info. people been talking about the difference between arcades and prop firms. in prop firms if you get pass the training you get backed by the company and therefore trade with the company money. now if this is the case, can someone explain a bit about the desk and roundup fees please?
my understanding so far is that you dont have to pay these fees if your backed by the company and dont make anything! but does that mean you ll be in debt of the company and have to pay all the previous months fees once you start making profitable trades?!
what is the scenario if you put some of your own capital on the line ? how do they charge their fees ? do they keep taking it out of your capital till your out of money ?!
sorry about all the questions but im fairly new to the prop firms world and Im still trying to get a clear picture. thanks again for your time.

cheers
cyrus
 
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