Do the course; upside potential is it goes well and you get backed and rapidly accelerate your learning curve over self learning. Downside potential dont perform well; get kicked out - have still interacted with some experienced traders and gained some knowledge then go back to your demo account.
Schneider Trading Associates: Graduate Training Program
Do the course; upside potential is it goes well and you get backed and rapidly accelerate your learning curve over self learning. Downside potential dont perform well; get kicked out - have still interacted with some experienced traders and gained some knowledge then go back to your demo account.
Price of their educational material - 0 quid. They don't teach you how to beat the market. Period.
You are joking? Anyone who can claim to teach how to beat the market is a loser! And if you approach trading that way you'll be a loser....."the market can remain irrational longer than you can remain solvent"
Don't compete......you need to learn to work with it.
From what i know of STA's program maybe their manual execution of teds and bund/bobl spread has lost its edge, but by showing a smart guy how they are derived the smart guy can learn to create a new edge.
As for their Technology infrastructure; they have a pretty robust set up that not too many "prop shops" could compete with so i'd be surprised if there were latency issues.
You are joking? Anyone who can claim to teach how to beat the market is a loser! And if you approach trading that way you'll be a loser....."the market can remain irrational longer than you can remain solvent"
Don't compete......you need to learn to work with it.
From what i know of STA's program maybe their manual execution of teds and bund/bobl spread has lost its edge, but by showing a smart guy how they are derived the smart guy can learn to create a new edge.
As for their Technology infrastructure; they have a pretty robust set up that not too many "prop shops" could compete with so i'd be surprised if there were latency issues.
Ive done the course and was not impressed...
I advise new ppl still to do it just for the experience but dont waste money on their reading lists or anything else.
They dont teach you how to trade they teach you how to use their platforms.
Any profitable firm should have some idea on a strategy that makes money, these jokers never provided 1 to us.
Curious to know if any1 from my course is still there?
We started on Sept 4 or 6th... We had a guy called Nonde who was kicked out on the second day?
I advise new ppl still to do it just for the experience but dont waste money on their reading lists or anything else.
They dont teach you how to trade they teach you how to use their platforms.
Any profitable firm should have some idea on a strategy that makes money, these jokers never provided 1 to us.
Curious to know if any1 from my course is still there?
We started on Sept 4 or 6th... We had a guy called Nonde who was kicked out on the second day?
Warren.
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I have started at september
I haven't learnt how to trade, but can't tell that I wasted time. Ingaswingmeister
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Did you leave or you did not get backed by the firm?
I am sure they are making money and they are profitable, otherwise they won't be training new traders.
With regards to the 'strategy'. I cannot imagine any firm will dish out a strategy and say 'here trade this and you will make money'.
Firstly - Every strategy has a limited life span.
Secondly - Even if someone or a company has a profitable strategy, do you seriously think for a moment they will let you in on it?
Thirdly - YOU have to develop YOUR own strategy.
Fourthly - Their training - as I know, is still free, they will teach you how to 'trade' i.e. not lose money. The basic concepts of execution and spread strategies. It is up to you to develop yourself.
Expecting someone to provide you a strategy that works is akin to expecting someone to hand you money on a plate for free. (It is essentially the same thing)
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Just throught i'd post a few things to help people thinking of applying to STA..
I did the course this year and spent about a month trading here afterwards.
First of all to get through the course and offered a place on the floor is easy as long as you dont **** up too badly. Don't do anything stupid and get reasonable marks on the tests and you'll be ok. A good idea is to memorise the names of all the ECB, BofE and US fed members as it'll make you look good on the first day. Also when you are on the sims make sure to be in the room for all economic announcements.
They are currently filling up a new trading floor so seem to be taking on more people (about 8/10 from each course). Each new intake does a new product; Teds, oil, bund bobl schatz, euribor boxes etc. The most important thing i would mention is that hardly anyone will make a reasonable salary doing this, STA are just hoping that 1 person in 100 they take through will make it big and that is how they make their money. If you have any doubts or dont think you are one of the best you might as well leave (this is why I left). Also bear in mind no-one will hold your hand, you are thrown in the deep end and can't rely on anyone else you must learn it all yourself as quick as you can. Some of the staff are good but some are pricks (I know some of them read this site). Overall I would definately recommend doing the course and having a go at trading as you learn a lot and for free, if they ask you to back yourself don't bother you'll never get your 10 grand back and it just means they don't see you making money. Also another important thing to note is that if you have a good CV i.e went to a good uni got a good degree then some of the big boy traders might interview you and ask if you want to join their team, this is definately worth doing as you'll be trading properly, not just spreads with tiny limits. Dont believe everything you hear on here, theres a lot of bitter people who couldn't cut it / didn't even get past the course.
I did the course this year and spent about a month trading here afterwards.
First of all to get through the course and offered a place on the floor is easy as long as you dont **** up too badly. Don't do anything stupid and get reasonable marks on the tests and you'll be ok. A good idea is to memorise the names of all the ECB, BofE and US fed members as it'll make you look good on the first day. Also when you are on the sims make sure to be in the room for all economic announcements.
They are currently filling up a new trading floor so seem to be taking on more people (about 8/10 from each course). Each new intake does a new product; Teds, oil, bund bobl schatz, euribor boxes etc. The most important thing i would mention is that hardly anyone will make a reasonable salary doing this, STA are just hoping that 1 person in 100 they take through will make it big and that is how they make their money. If you have any doubts or dont think you are one of the best you might as well leave (this is why I left). Also bear in mind no-one will hold your hand, you are thrown in the deep end and can't rely on anyone else you must learn it all yourself as quick as you can. Some of the staff are good but some are pricks (I know some of them read this site). Overall I would definately recommend doing the course and having a go at trading as you learn a lot and for free, if they ask you to back yourself don't bother you'll never get your 10 grand back and it just means they don't see you making money. Also another important thing to note is that if you have a good CV i.e went to a good uni got a good degree then some of the big boy traders might interview you and ask if you want to join their team, this is definately worth doing as you'll be trading properly, not just spreads with tiny limits. Dont believe everything you hear on here, theres a lot of bitter people who couldn't cut it / didn't even get past the course.
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dogstar001
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Hi,
I went to the inital interview for the cource and have been accepted despite an low maths score.
Alot of people have been talking about how they were going to sit the course in the future but no one has really mentioned how it went. If you have done this course would you be able to tell me if its worth while, how it went? Was it successful, are you rolling in money now.
Also they want me to buy 2 books, which will cost about 50 quid. It sucks how they didn't mention it at the initial interview, they sort of just mention it once your hopes are up.
Do you need these books?
I might just go along on the monday, whats the worst that can happen.
Some feedback would be great.
I went to the inital interview for the cource and have been accepted despite an low maths score.
Alot of people have been talking about how they were going to sit the course in the future but no one has really mentioned how it went. If you have done this course would you be able to tell me if its worth while, how it went? Was it successful, are you rolling in money now.
Also they want me to buy 2 books, which will cost about 50 quid. It sucks how they didn't mention it at the initial interview, they sort of just mention it once your hopes are up.
Do you need these books?
I might just go along on the monday, whats the worst that can happen.
Some feedback would be great.
To be honest..I would go by all means take the course,
DO NOT whatever you do put your money down with them
this is a suicide mission...if you put 10k in or are one of the "special" few who are allowed to put 5k in as they like you...then their system works like this:
First month desk fee
free
second 575
Third
875
Fourth
1375
Fifth
1375
Sixth and then onwards 1750
To be honest the course only teaches you how to use their technology...as for trading set ups and strategies...DONT BE UNDER ANY ILLUSION MY FRIEND! NOT A SINGLE LESSON!
I left and went to another prop firm which took the time to teach me strategies, match my personality with a specific product, taught me risk management, encouraged me TO UNDERTRADE as opposed to STA's mantra of TRADE TRADE TRADE!! HAVE A GO!
I have held back from speaking badly of them on this forum for a long time now but to be honest, they dont give a damn about whether you make money or not...they only want commissions and desk fees
But hey if the above all sounds good...go for it..
You will be sure to be able to buy at least a big mac at the end of month 3 with their training..
(as long as you have the coupon from the metro)
TBH there are alot better shops out there...that will teach you and put time ...I mean real time into you.
In my new place (which I will not name as they would be inundated with CVs, ) I have been allocated an unbelievable mentor who goes through my trades with me everyday as well as my end of day evaluation and prep etc for as long as it takes,
His attention to detail is outstanding, his own record of making a hige sucess/fortune on the liffe floor is only inspirational and all the traders on the floor are GENUINELY consistently profitable as opposed to the majority of people on sta being new or there only a few months!
But if any of you are still going for it AFTER all this...I have the STIRS book by Aiken..pm me if you wanna buy it at a reduced rate and save yourself a little from the start!
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Good review tonster...
I will also sell them books i bought on the course to any1 that wants em a lil cheaper (not that we ever referred to them on the course).
As it goes i am one of the bitter ppl who didnt make it with STA.... But my views on them arent influenced by this... From week 1.5 most of the guys in the course were dissapointed in its lack of content... By the time i was kicked out (for ludicrous reasons - nothing to do with tests or competency) i was already wondering if i actually wanted to stay on...
Of course before they kicked me out they generally offered me the chance to give 10k and back myself, but fast before he changed his mind and made me pay 16k.
So yea basically i am one of the 'bitter onese' but STA are still total amateurs making the course a waste of 3 weeks for me and however much it costed me in travel and books.
Saying that if your wanting to be a trader its not nice to hear this as STA is a possible foot in the door. Try it and see for yourself just for the experience, but in mine its a company run by amateurs trying to take advantage of most traders and hoping for a 1 in a million good trader they can leech off.
BTW HEY INGA.!!..
I was on your course... Who made it how far did ya get?
I will also sell them books i bought on the course to any1 that wants em a lil cheaper (not that we ever referred to them on the course).
As it goes i am one of the bitter ppl who didnt make it with STA
.... But my views on them arent influenced by this... From week 1.5 most of the guys in the course were dissapointed in its lack of content... By the time i was kicked out (for ludicrous reasons - nothing to do with tests or competency) i was already wondering if i actually wanted to stay on...Of course before they kicked me out they generally offered me the chance to give 10k and back myself, but fast before he changed his mind and made me pay 16k.
So yea basically i am one of the 'bitter onese' but STA are still total amateurs making the course a waste of 3 weeks for me and however much it costed me in travel and books.
Saying that if your wanting to be a trader its not nice to hear this as STA is a possible foot in the door. Try it and see for yourself just for the experience, but in mine its a company run by amateurs trying to take advantage of most traders and hoping for a 1 in a million good trader they can leech off.
BTW HEY INGA.!!..
I was on your course... Who made it how far did ya get?
french taffee
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hey I have an interview on friday. I am very nervous about the whole thing do you have any hints and tips to help me out.
what does the numerical test consist of? Does it resemble the standard psych tests?
What sort of questions do they ask during the interview. pls pls help me...
thank you
what does the numerical test consist of? Does it resemble the standard psych tests?
What sort of questions do they ask during the interview. pls pls help me...
thank you
AlphaDraconis99
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hi
I just got an offer for the Schneider Professional Trader programme. However, I'm now having second thoughts about accepting the position.
I read some stuff online about how Trading with an arcade looks bad on your CV, thus you cannot use something like this as leverage to get a trading job in the future with..for example, an investment bank. Is this true?
I'm really just looking for an introduction to trading..which is why this FREE 4-week programme offered by Schneider Group appealed to me. But at the interview, they were saying how they're looking for commitment so that you eventually become a full time trader with them. I'm not sure whether I should bother with the programme then, because I'm not sure that I can make this commitment. I really would just like the 4 weeks training and then to leave.
Any advice much appreciated
DL
I just got an offer for the Schneider Professional Trader programme. However, I'm now having second thoughts about accepting the position.
I read some stuff online about how Trading with an arcade looks bad on your CV, thus you cannot use something like this as leverage to get a trading job in the future with..for example, an investment bank. Is this true?
I'm really just looking for an introduction to trading..which is why this FREE 4-week programme offered by Schneider Group appealed to me. But at the interview, they were saying how they're looking for commitment so that you eventually become a full time trader with them. I'm not sure whether I should bother with the programme then, because I'm not sure that I can make this commitment. I really would just like the 4 weeks training and then to leave.
Any advice much appreciated
DL
So sick of reading the same old parp about n00bs wanting to use prop shops for their training and to help build some experience, only then to leg it to an IB anyway. What is the point?! For one thing, trading for an IB is completely different to trading at a prop firm. Secondly, if you're actually any good at trading (which you'd need to demonstrate if you wanted to hit the IB's), you should be making amazing bunce just trading at the prop firm.
If you're too **** to get into an IB first time around, raping a prop house for its training is not going to help you at all. If anything, prospective employers will see exactly what you did and tell you to jog on for your lack of loyalty.
All you're doing is taking away the opportunity for someone who actually wants to stick with a prop firm.
If you're too **** to get into an IB first time around, raping a prop house for its training is not going to help you at all. If anything, prospective employers will see exactly what you did and tell you to jog on for your lack of loyalty.
All you're doing is taking away the opportunity for someone who actually wants to stick with a prop firm.
If you think that 4 weeks' training with STA is going to do anything for you when it comes to investment banks, then frankly you are an idiot and you need to understand the world of finance a little better. Would you take a 4-week course on dentistry to try and improve your chances of becoming a trauma surgeon? STA will train you to trade their way, no investment bank is going to give 2 ****s about that because it has absolutely **** all to do with what they do.
I despair with you people, I really do.
I despair with you people, I really do.
Having been through the programme I have to say that I disagree with a lot of this.
None of the people on my course were asked to deposit funds, so I guess that maybe we are all extra special!! From what I know of the other guys who have come through the programme one or two have deposited funds.
I agree that they do teach you how to use a front end, but frankly that seems entirely reasonable and sensible - I wouldnt jump in a car for the first time and expect to be able to compete in F1. If you are simply a retail stock punter then not understanding how to properly execute is not really an issue, but if you are serious and in a dma environment, you need to be able to do this.
I use several of the strategies that they have showed me and I'm making money pretty consistently. They have also run sessions for us since the course talking through trading other markets/strategies etc and the guys all have decent experience between them- fixed income, commodities, indices, futures and options. They run through all my preps before open, give me a perspective on what's happening in the market and then also help me during the trading session
I do trade a fair amount but to be honest, how am I gonna learn without doing??? If I never trade, am I really gonna be able to do it when I really need to? Sure, like any arcade they make money from your spins but that's an industry model. I don't know of any house that lets you trade for free....and I doubt if there model would have worked for so long if they didnt care if you were profitable. Dead traders don't generate money for themselves let alone anyone else
standardand
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jimmy mc phaderson
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what strategies do you trade? and what do you mean by good experience?
