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Arcade is an actual term used to refer to professional shops in the futures industry. I think the term started in the UK, where these types of companies originated. It's really not an insult at all. Pro firm (equities) = Arcade (futures) Refer to the following article for an example...

Sorry, I don't know exact specifics about Refco. I work for a different firm. I only made general comments on the contracts because you have them at every shop. In general, with a track record everything is negotiable.

mschey, Do you ever take a look at the 'Pro Firms' forum? Alot of the threads in there these days are about futures prop firms. There are countless futures firms in Chicago and London, and they do very well (both the firms and traders) for not making any sense!

Yeah. Know anything about them?

You can get your size up alot faster than trying to build your own account. And if your at a good shop, you should have access to extremely fast news via market news, bloomberg, and/or reuters terminals, direct lines to the exchanges and full time on-site tech support. You also trade at member...

I don't think there are any. Or at least any that know what they're doing. If you find one please post it up on this thread. If you look up the members of the various futures exchanges, it's hard to find any members in the Los Angeles or even the entire SoCal area. I remember finding one...

Not just the desk fees, but the percentage of your profits they're entitled to through your agreement. Theoretically, they can stop you from trading for another company. However, in practice, it's almost impossible for them to enforce these types of contracts.

You are supposed to stay for 3 years even if you get a better offer.

If rolling a loser worries you, and you're looking for something else to trade, why don't you just trade stocks?

If you have enough money in the account, you can hold it till it goes to $0 as long as you keep rolling.

It's like getting out of your long and then getting right back in at the same price, but in the next months contract. However, futures are not the same as trading cash currencies and it does cost money to keep rolling your position over and over. If nothing else, you have to pay commissions...

Brent crude is a light sweet crude that comes from the North Atlantic region, thus, it's traded on a UK exchange. The light sweet crude that is traded on the NYMEX is West Texas Intermediate that comes from the Gulf of Mexico. They are pretty much the same product just drilled from different...

You have to do something. For example, you are currently long 25 August Brent contracts and it is going to expire tomorrow. You go to the August/September calendar spread and sell 25 spreads. This will get you flat on your August and long 25 Septembers. You can repeat this process...

Here are the specs Nymex - 500 barrels http://www.cme.com/trading/prd/env/nymex/nymexspecs2760.html Brent - 1000 barrels http://www.theipe.com/%7Edocs/contracts/IPE_BrentCrude_futures_contract.pdf Oil is not my primary trading vehicle, but I do trade it often these days due to the...

You can roll your position over to the next contract when the one you have a position in is about to expire. It just consists of closing one side and opening another. Pretty easy to do in oil as the calendar spreads trade as their own markets.

Oil markets are easy to access. You can trade the Nymex crude emini and IPE Brent Crude Oil futures through most futures brokers. They are both electronic and fills are instantaneous.

I think it would be great if more shops did this.

I wasn't saying it should be easy. I was responding to joeyata being skeptical of mk for posting a method that was currently working, since everyone would jump on the bandwagon taking his trades away.

I would guess that the strategy he's using requires some sort of discretion or 'feel' that is not easy to duplicate.

It's usually 50% if you are new. With a track record your percentage can go up much higher depending on the shop. 50% is not a bad deal considering you're getting to learn on the company's money, and usually with some sort of draw/salary so you don't have to work a second job to get by...