prop firms in china

H

harold

hoho...........happy to be here

i see a thread talk about swift trade .i'm a trainee in chongqing branch,mainland,china. besides swifttrade,several day trade firms here,i forget the name.



it's much more than 20 branchs here,macau,hongkong and taiwan is not including .

thousands of prop trader here.lots of forums take about prop trade...

we trade securities in the same market,the difference is we trade in the different part of the earth.
we trade in nasdaq,nyse,amex,cme,lse etc......whatever u like.




it's no salary first,and u don't need money to play,the swifttrade provide $10000 for u ,and will be more to attach your ability.

if u have NET profit $2000 sum in a month, congratulation, u graduated.

before u graduated, 5% of your NET profit is your salary

$0-2000 5%
$2000-10000 10% graduated
$10000-20000 13%
$20000-30000 17%
$30000 above 20%

i'm a beginner,start only one week ago.but i'm interest in this.
if i earn enough money,maybe i'll be the BOSS of the new branch,and recruit more trainee to trade for me.it's amazing!
 
we get the 5%-20% of my earning only,but it's not immoral,because there's not so much trade firms in china,not like wall street.and the cost of living is much less.

in a free market,existance is reasonable,isn't it?
 
Quote from harold:

we get the 5%-20% of my earning only,but it's not immoral,because there's not so much trade firms in china,not like wall street.and the cost of living is much less.

in a free market,existance is reasonable,isn't it?
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nice way to fool uself. same argument can be made for your bosses but they are grabbing the lot, and less prop firms less competition so it's even more of a theft, innit.
 
Quote from harold:

we get the 5%-20% of my earning only,but it's not immoral,because there's not so much trade firms in china,not like wall street.and the cost of living is much less.

in a free market,existance is reasonable,isn't it?
More...


i hope u didnt have to sign anything
 
Quote from Bitstream:

nice way to fool uself. same argument can be made for your bosses but they are grabbing the lot, and less prop firms less competition so it's even more of a theft, innit.
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but there's one prop firms in my city only, if i have the opportunity
to choose,maybe i'll scout for a better deal.

free desk fee,free trainning fee,free opportunity to trader with u wall street trader,(remember it's china here.)
it's nothing or maybe a shit in us,but if u're in china,in my city, u'll have the opposite comments.

felicity is Fiorano if u're a honda owner;
felicity is a hamburger if u're in africa.
 
Quote from harold:

$0-2000 5%
$2000-10000 10% graduated
$10000-20000 13%
$20000-30000 17%
$30000 above 20%
More...

When prop trading came to europe, there was only Swift and our branch owner tried to pull this off too (he wanted to pay us 15%). While we negotiated quite a bit more, we still got so much underpaid and he was making so much money .. While we worked hard, he just didn't do nothing and some days he even would spend at the beach, while we were sweating our asses off to make money for him. So... please, give me one good reason why a branch owner should make MORE money than you as a trader ...

There's so much competition right now, if your branch owner doesn't want to give you more, you simply leave them, find a group of a few guys and start your own branch.

I can't stand this form of modern slavery, it's just so immoral and unethical. So.. Fight the power :) Power to the people :)
 
Quote from romik:

If all money is fronted (incl deposit), then what do you expect?
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Hehe, ALL money ? :) you mean the 5k deposit that a branch manager has to make ? :) Or do u mean these $100 computers you need to buy for a trader ? :)

Well, i did hear that ADSL is a bit more expensive in asia, but then again, offices are much cheaper than here. So in the end, no, there's not much money a branch owner has to invest.

And what does he have to do ? Most branch owners can't even trade themselves, so how are they supposed to teach their traders anything ? And even if they CAN trade, it's VERY VERY hard to teach a trader anything. You almost can't do this, since then all you will achieve is that your trader becomes a copy of yourself.

So in the end, even if a branch owner DOES want to do a lot for his traders, he simply can't. So, in other words, he shouldn't be the 'big winner' in this game, it should be the prop firm itself and the trader, not the branch owner. And this is currently reflected in payouts in the US/canada and (west)europe. The rest of the world will follow, that's what competition is all about ...
 
Quote from luckybastard:

Hehe, ALL money ? :) you mean the 5k deposit that a branch manager has to make ? :)
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I've never traded prop, from what I understand normally a trader would have to make a deposit (like you would do in future margins), from what I understand people trading through Swift do not pay a deposit, is that correct? If it is so then payout % would obviously be less, then in other companies where you would have to provide a deposit. Correct me if I am mistaken.

I know a guy who's become a franchisee in a small take-away franchise, his buy in price was a lot less than if he was to buy a commission-free business. His commission which also includes his rent is something like 4 times more, than what he would be paying if he was to either buy an independent or build one from scratch. Obviously he keeps moaning all the time how unfair his contract is with the franchise company & that he basically got screwed on that deal. The bottom line is - you get what you pay for & that old saying does not fail that often.
 
the markets ruined forever. you got 100k 3rd world guys trading 500ks hares a day for $10 a day net and are as happy as hell. just as immigrants from india and china have destroyed wages they're going to marginalize the stock market with no movement
 
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