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Careers - Amplify Trading - London

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  • 25-06-2012 10:49am
    #1
    BasementJack
    Registered Users Posts: 3 ✭


    http://www.amplifytrading.com/career_programme
    Programme Cost: £1200 per month for four months. After month four, Career Traders who are flat or positive in their live account are then supported by Amplify Trading as full time proprietary traders with all desk fees covered by the firm.

    anyone know anything about these guys? you pay them for training and if you do well you become a backed trader. After that it seems like most Prop Shops


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    #2
    ixus
    Registered Users Posts: 2,436 ✭✭✭ixus


    Reading the description on your link I would suggest that your desk fees are in no way covered by the company. You are "fully funded" i.e. they put up the margin for you to trade. This will essentially be the £5K sterling you've put up over four months. It's win win for them. You will still have to cover desk fees.

    The Trade2win forum will probably have a more detailed description of them. Do a search before asking though. Maybe same on elitetrader.

    You shouldn't have to pay anywhere to learn how to trade. Now, doing it for no pay for a period of time is different.


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    #3
    Marcus Halberstam
    Registered Users Posts: 10 ✭Marcus Halberstam


    Completing the programme means trainees have obtained industry recognised professional trading experience with Certificates for each module. Many of our graduates secure positions at Top-Tier Investment Banks using their front desk experience at Amplify Trading. 

    I'd like to see some hard numbers on how many "graduates" secure positions at Top-Tier investment banks after the course:D . I know in accounting the top tier IBs are very selective but if you have good grades they take Irish grads. Sometimes putting on your CV that you paid for courses like this you might as well put a sucker sign on your back.

    Its one thing to go to London for a proper training, chancing your arm in a place like this in London could get very expensive fast. they aren't investing in you so there's nothing to say they will put much effort into your success.


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    #4
    unplayable
    Registered Users Posts: 862 ✭✭✭unplayable


    BasementJack wrote: »
    http://www.amplifytrading.com/career_programme



    anyone know anything about these guys? you pay them for training and if you do well you become a backed trader. After that it seems like most Prop Shops

    apply to geneva trading in dublin if you want a free crack at trading. pm me for more details. not affiliated with them but i did there training programme and no longer work there


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    #5
    Marcus Halberstam
    Registered Users Posts: 10 ✭Marcus Halberstam


    unplayable wrote: »
    apply to geneva trading in dublin if you want a free crack at trading. pm me for more details. not affiliated with them but i did there training programme and no longer work there
    If you don't mind answering... (PM if you prefer)

    What percentage of your program intake made it as traders there?

    What is the typical background of people who start? Straight out of college or a bit of experience? What degrees?

    Did any of them do the IIFT or Independent College or other course beforehand?
    thanks


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    #6
    ixus
    Registered Users Posts: 2,436 ✭✭✭ixus


    You're asking typical questions, but the wrong questions.
    Marcus Halberstam wrote: »

    What percentage of your program intake made it as traders there?

    The percentage is irrelevant. For example, out of a group of five, all five might make it. Out of the next five, none might make it. Curve fitting is for school/college. Trading is about an individuals talent and work ethic combined with what they are taught. You should be asking about the standard of the training, the work load involved etc. If you want to be a trader, you have to be confident in your ability to make it, not the abilities of others.

    Marcus Halberstam wrote: »
    What is the typical background of people who start? Straight out of college or a bit of experience? What degrees?

    There is no set criteria in terms of experience or degree discipline in most of the places being discussed (Geneva/Positive/Novus). You should be able to back where you're coming from and why you want to be a trader.

    Marcus Halberstam wrote: »
    Did any of them do the IIFT or Independent College or other course beforehand?

    I haven't heard of anyone getting into one of these companies by way of either course.


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    #7
    Marcus Halberstam
    Registered Users Posts: 10 ✭Marcus Halberstam


    ixus wrote: »
    You're asking typical questions, but the wrong questions.

    The percentage is irrelevant. For example, out of a group of five, all five might make it. Out of the next five, none might make it. Curve fitting is for school/college. Trading is about an individuals talent and work ethic combined with what they are taught. You should be asking about the standard of the training, the work load involved etc. If you want to be a trader, you have to be confident in your ability to make it, not the abilities of others.
    Thanks, I've been talking to some acquaintances who have traded and they reinforce what you say, but also some of my worries.

    I know that the trading class 'failure' is not on a curve or just for the sake of it, my concern was more that the type of trading these firms do seems to be the type that is most vulnerable to the bank and hedge fund algorithms. I know there's always new markets but I'd like to know how much of the proverbial cake is left for newbies once Goldman Sachs etc. have had their cut!


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    #8
    Yeager101
    Registered Users Posts: 41 ✭Yeager101


    Hi,
    Yep, I did the course. I had been trading for about 4 months prior.

    The training is great and well worthwhile. I am now trading professionally for the last 12 months in the UK.

    However, regards to potentially becoming an in-house trader,
    the bar is set impossibly high for people who are coming through the training program. After the 7 weeks we went to live cash on CFD's.
    We had daily loss limits trading CFDs of $75 a day total. Any one product limit of $35.

    Even on CFDs this is a pretty tall order and made trading very difficult.
    So if your stop required even $40, if it triggered, you were off live trading for the day and onto sim the next day. The day after you were let back on live.
    I know only 3 guys who went on after the program however their loss limits were opened a small bit, their earnings targets started and were high.

    To cap off all of this, I will say that the training itself is amazing, very very good and they are great people. It would equip you with what you need to know to start and become better in the markets and think like a pro and perform technical analysis at a high level.
    A lot of people do not understand this game is not a get rich quick game and if you are committed to it, it will take you about 12 months to start to make good money or similar to a nice wage.
    If you are simply doing this program thinking its going to suddenly turn you into a great trader, then forget it, that type of program does not exist anywhere.
    What it will give you is the best tools to start on the path to being good.

    What most people dont understand is that some of the biggest and best traders blew up to $100,000 before they started to be great. The point is that you have to break that cherry of having your first major impact loss before you start to get serious.
    So I would plan to loose at least €25k before you start to be good and then onto greatness.
    People simply do not stay at home in the study, lash €10k into an account and suddenly become great consistent traders.
    Sure you will have some great trades, but its about the long game, not the short.
    You cant win the PGA tour with only a good short game. You need to go the full 18 and then onto the next tournament.

    BasementJack wrote: »
    http://www.amplifytrading.com/career_programme



    anyone know anything about these guys? you pay them for training and if you do well you become a backed trader. After that it seems like most Prop Shops


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