foreign currency trading VS. equity trading

Thank you very much for your suggestion

Yeah, I am a new guy both in Equity trading and FX trading industry. So I asked so many silly questions. But I trust that there are a lot of people here who are willing to help me out from the "puzzles" I have faced. Absolutely, as a new guy, the FX trading is more exciting and hears challenging... SO it attract me. But what I am concern is why this company need person to do trading and sales together. Is it normal in Wall Street? And also they are willing to hire new guys from school. They won't worry about that they will lose money by using these news guys like me?

Yeah, it is tough for me to make a decision now. I still need sometime to think about it.

I really appreciate the suggestion you guys gave me...

Roumeo
 
Here's the sales pitch:

Hey, I have no track record. I have never traded FX. I have never managed risk. But I'd really really like to manage your money.

doesn't sound kosher to me. if you really want to go for it, do background check on the owners to make sure they aren't starting a new firm because the old firm had regulatory or legal issues.
 
Originally posted by TriPack
Rule of thumb is to be leery of companies with International or other generic all inclusive titles that give them "credibility." This also applies to IHOP.

The terms you cite don't look that great...
More...

You mean I should be leery of eating pancakes at IHOP too?
 
I spent the past year and a half trading equities at several of the prop firms. I quit recently and am starting law school at june.
I was making a living at it. Not a great one but it was better than the other 50 they had hired at the same time.
That being said. Take the equity job. Youll learn alot about trading.
You will learn if you like it generally.
I might go back to some of it at some point it is fun.
I sat next to many brokers. I can tell you they can give you extremely good reasons why brokers have a high suicide rate. :eek:
After 6 months, go get a different job, or trade the sp eminis with your own capital. Since all I was doing by the time was up was guessing market direction anyway.
The advice would be different if the fx paid a draw or salary.
Also people give you their money to trade because they hope to take a cut.
 
Originally posted by roumeo


Now the situation is on the following:
1) NO base salary
2) Get clients by myself
3) trade the clients' money I got
4) No risk management in Company, I have to monitor the risk by myself.
5) FX day trading.



More...

i'm in the spot fx markets myself, but this sounds like a classical proposition where it's best to run, and not walk away...

no base salary...

no track record ! ! !

no back office taking care of risk management...

you have to chase after client money yourself...

forget about it, it's some kind of a rip off scam.

cheers
 
Hi, All

Thank you very much for you guys suggestion.

There is no website for this company and the company seems just to be started. They are in Wall Street, decent working place, but I don't know exact what they are doing. They didnot tell me what I should do besides working as broker/trader. Anyway, they told me that I would be busy....

No draw, no base salary, and I did not even see the hardware (computers) for trading there. So now I kinda know what I should do after getting so much suggestion from you.

Thanks so much.

BTW: what is the difference between FX day trading and equity day trading.... ?
 
You must log in or register to reply here.
Back
Top