Schneider Trading Associates (STA)

I' am starting to reconsider whether i should attend the interview? Having heard all this stuff, might as well get back to the drawing board, hook up some more applications.
 
you, should go to the interview, you can learn a lot from that. just prepare lots of questions and get answers.
I am a firm believer that if you want to trade professionally, you can only max your trading from a professional environment, so you should see what they have on offer
 
The group interview consists of - come on man, its a group interview; They will be 2 guys talking most of the time, and then they ask you, one-by-one to stand up and move to the front of the room to introduce yourself, talk about yourself, why you wanna do trading, and why with STA, etc; blah, blah; And then then you do the hand co-ordination text on the pc, mainly to text your reflex skills; and lastly, you do a simple maths tests; I SAID SIMPLE, you don't need to study first year Calc to prepare for the text, am talking about simply math, like adding, subtracting decimal values;

I think thats it, If i have left out anything, just as well, I dont want to spoil it for you; Go there and have fun, Just make sure not to sign any paper whilst you're there;
 
Thank you for your help mate. From what you say I guess that no excessive preparation is necessary.
I think I will go for the experience, but I am not sure I will take a full time offer after what I read on this thread.

Cheers
 
They trade spreads; if you are any good you can make a lot of money - it is all in your hands. STA will give you the infrastructure you need and the training/backup.
 
fifty2aces said:
Why are spreads seen as safer than outrights? Obviously outrights are more volatile, but surely the lack of volatility in spreads means you need to take bigger positions than you would on outrights, which would mean you'd still have big losses - losing a lower number of ticks, but a higher value per tick? Obviously the cynical answer would be that the arcade gains more in commsissions if you need to trade a lot of size due to low volatility.

Maybe I'm just misunderstanding.
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the reason spreads are meant to be safer is because they are meant to be mean-reverting. ie, it doesnt matter where you get in, by averaging your position you should be able to work around your initial entry point. of course, this means you will be doing many more roundturns, but on the upside you need next to no fundamental knowledge to make money. technically, if a spread is wide you sell it; if it is narrower than in the past you buy it. if it moves further out (or in) you double your position, but at some point in the future it should revert to the mean. the beauty of spreads is that you can be making money when the outrights are doing nothing, because you are always looking to buy the bid and sell the offer.
 
Yeah but these days it's really bad... Most spreads that used to be mean reverting are not anymore. Also there are alot of algos working the bids and offer which are much quicker than you and your autospreader.


xgen said:
the reason spreads are meant to be safer is because they are meant to be mean-reverting. ie, it doesnt matter where you get in, by averaging your position you should be able to work around your initial entry point. of course, this means you will be doing many more roundturns, but on the upside you need next to no fundamental knowledge to make money. technically, if a spread is wide you sell it; if it is narrower than in the past you buy it. if it moves further out (or in) you double your position, but at some point in the future it should revert to the mean. the beauty of spreads is that you can be making money when the outrights are doing nothing, because you are always looking to buy the bid and sell the offer.
Click to expand...
 
I had a look at the red spreads in euribor once... I can't imagine anything more dull than trading those. And yeah I was having to stick a couple of hunderd lots in to get a few fills given the algos too.

Quite a few guys at schneider doing oil now aren't there?
 
arabianights said:
I had a look at the red spreads in euribor once... I can't imagine anything more dull than trading those. And yeah I was having to stick a couple of hunderd lots in to get a few fills given the algos too.

Quite a few guys at schneider doing oil now aren't there?
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yes oil spreads.
 
arabianights said:
I had a look at the red spreads in euribor once... I can't imagine anything more dull than trading those. And yeah I was having to stick a couple of hunderd lots in to get a few fills given the algos too.

Quite a few guys at schneider doing oil now aren't there?
Click to expand...

i have to agree with you, euribor calendar spreads have to be the most boring thing to trade, but there are many others. the schatz ted blew out during the may-sept credit crisis period - there was just no short term money, but now seems to be holding better. there are also oil spreads and flys, german bond flys and others.

as for your other question, there are a few guys doing oil. it seems to be quite profitable, but probably the most popular trade is the bund/bobl/schatz fly as it seems to hold very well.
 
xgen said:
i have to agree with you, euribor calendar spreads have to be the most boring thing to trade, but there are many others. the schatz ted blew out during the may-sept credit crisis period - there was just no short term money, but now seems to be holding better. there are also oil spreads and flys, german bond flys and others.

as for your other question, there are a few guys doing oil. it seems to be quite profitable, but probably the most popular trade is the bund/bobl/schatz fly as it seems to hold very well.
Click to expand...

Are you at Schneiders?
 
No one here seems to have answered the original question?
How is the training course for the STA ? how do they get rid of you ? tests or trading performance ?
I just had an interview with em last week and it went quite well. How long do they usually take before letting you know whether you got a spot on the training team or not ?

any information from those who have been through the STA picking process is much appreciated.
I know ur out there, just help a newbie out ;)
 
as far as i know,they will call you back and say youve been specialy selected for training and you will then have to pay a contribution towards the training( a good few grand). Its the old reverse sale technique where they make you feel great and special and them rump you sensless for poor training.
 
julian said:
as far as i know,they will call you back and say youve been specialy selected for training and you will then have to pay a contribution towards the training( a good few grand). Its the old reverse sale technique where they make you feel great and special and them rump you sensless for poor training.
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Wrong!! You don't pay for training. Only thing you'll have to pay for is your expenses such as travelling and lunch.
 
julian said:
are you saying this is a legit firm? if so then I owe them an apology
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STA do not charge for training although some larger firms have enrolled some of there staff and they do pay for the course, but as a grad you dont pay a thing.
 
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