Saxon Financials

[raf110]

demontrade

I can fully understand why people prop trade for someone like mac, but to trade for a company that asks you to trade with your own capital wheres the sense in that.

 

[demontrade]

...not many are able to do that unless they actually have the authority to do so. However there are some, of which I believe Mac is one incidently, that if you put down a certain amount of money they match your money or give you credit to be able to trade bigger size. For this they wish to take a certain % of the profit off you. Some would call it good business but some would say it was dangerous. I suppose it depends on what side of the fence that you are.

 

[BBB]

Demon - I've nothing against reputable prop houses. I was in a similar situation to yourself when I was on the LIFFE floor when I started.

What I am alarmed at is when some shark insists you put your own money down, charges you for the equipment, then expects a cut of your profit to boot. I remember one poor chap who was saying how his prop/scam house also tried to put a bogus clause in his contract saying if he left the firm, he couldn't trade for anyone else for two years! There are good houses and bad. Trader beware (as always!)

 

[Robertral]

That clause is standard in most scam houses. That's why I wouldn;t touch one. Just hold out and u will get a decent job ina good derivs house

 

[sissymoon]

BBB & Robertral

would you be able to name a few scam houses? Just in case I come across any of them in my job searching.

thanks

 

[Skimbleshanks]

would you be able to name a few scam houses? Just in case I come across any of them in my job searching.

sissymoon:

BBB and Robertral have both told you what to look out for, so you're armed with the knowledge.

Naming any company as a scam house on these boards would be very silly indeed, unless of course you wish to pick up any and all of the ensuing legal costs in doing so.

 

[TWI]

I think I need to set one of these "scam" arcades up, sounds more profitable than trading for a living and easier too.
Maybe Hammersmith would be a good location, anybody know of any other arcades in that part of London?

 

[sissymoon]

Skimbleshanks

I'm sorry. I guessed i was a bit naive. Anyway i get the idea.

 

[BBB]

Quote:
Maybe Hammersmith would be a good location, anybody know of any other arcades in that part of London?

Only The Golden Valley & Las Vegas Gold. Both on King Street before the Polish Labour exchange around Ravenscourt Park.

 

[TheBramble]

Only The Golden Valley & Las Vegas Gold. Both on King Street before the Polish Labour exchange around Ravenscourt Park.

Yeah, but the Golden Valley and Las Vegas Gold are poles apart...

 

[BBB]

You know your stuff Tony. I totally agree - The Golden Valley also has a branch in Putney and it's head office is Leicester Sq. (Next to Empire I think) Las Vegas Gold is a dive. Their best feature was the amazing Bullion Bells game with a cracking £70 jackpot! The locals swarmed this one though and it's now out of order.

I made some good cash this week so I'm off to Brighton on the bus tomorrow. I hear there's a new arcade by the pier.

Cant wait!

 

[TheBramble]

BBB - you need to get your hearing checked.

They're not arcades...

 

[TWI]

I first became interested when I visited Sun City as a child, I tried to leave it alone but eventually had to get a paper round to sustain my habit. Of course I could give it up tomorrow if I wanted....<sniff>
I can let you into a secret. The best arcade is to be found on Worthing Pier, lots of opportunity as the majority of the population appear to be 4th generation inbread and have not worked out how to nudge properly.

 

[BBB]

You got it twalker! Knowing when to nudge is ESSENTIAL! The skill (as I'm sure you are aware) is all in the back - if you get the angle right, you can actually see over the top of the wheels. It looks really cool as well. Of course, before you can nudge, one must perfect the art of the hold. Not as important as nudge I'll grant you, but the first elementary step.

My fondest memory of the art of the arcade was also as a nipper. I was visiting a mate who (from memory) lived in some sea-side town called Sheldon. There was this bust machine on the pier. Every time I put a penny (it was an old fashioned model for the coffin dodgers) in, it gave me 3! I had made £5 within two hours! This is when I realised the system is out to get me. The manager came and chucked me off - and put an 'out of order' sign on it!

Anyway, I wasn't deterred! By 15 I had amassed £30 and was a regular in the chip shop.

I ofen wonder and dream of my early Sheldon experience. Is it still there I wonder? I've actually put an application in to The Silver Stream in Brixton. I'm gunna be the bloke who doles out the change while I eat donuts and fried chicken all day. I'm gunna get all the secrets from the locals! Im gunna be rich rich RICH!

 

[jonnyy40]

how many contracts do these prop traders trade and how many points per week are they looking for?

 

[BBB]

Jonnyy - it doesn't matter. FRUTIES RULE!

Trading is for suckers who cant make it with two cherries and a bell!

 

[TWI]

beware 99% of people trading this way lose money
If you are not serious about it then you really shouldn't even enter the gold trimmed door of the temple.

 

[BBB]

I don't know about that. I find the Golden Nugget arcades are especially good. An excellent place for the newbie to begin. Stay away from pub machines - thats my only advise. There, 98% do lose for sure.

How my mates joke with tiers in our eyes about how we fleece this place with our ultra cool 'hip-bend' (it's all in the waist you know).

Two holds and a nudge and you're laafin'

 

[javster]

hi there,

has anyone heard of saxon financials, i read a positive post earlier but wanted to hear if anyone has had the experience, through friends or personally...

How good is there graduate recruitment... they do look after there grads so I hear...!

just private message me if you can, or post here...

thanks in advance.

cheers, j

 

[Eldgo]

I have some knowledge of Saxon Financials. They are a reputable company and look after their grads well. However, as I daresay everyone is currently finding, its hard to become profitable as a junior. Not that this should put you off of course!