prop firms in china
- Thread starter harold
- Start date
I find it funny that you call it modern slavery.
Don't traders at major IBs get about a 20% payout. Guess they are modern slaves too earning 5-10 million.
I think the traders in China are not forced to become prop traders, but rather see it as a great opportunity. Put yourself in their shoes (earrning 1000/month compared to a hundred with little risk) and you will see its not a bad proposition.
BTW I do not run a prop shop in China. I however think that global competition makes the world better. I think that the trading jobs will always be taken by the most capable traders not the lowest paid. If this were the case, GS would have moved their operations there a long time ago.
Don't traders at major IBs get about a 20% payout. Guess they are modern slaves too earning 5-10 million.
I think the traders in China are not forced to become prop traders, but rather see it as a great opportunity. Put yourself in their shoes (earrning 1000/month compared to a hundred with little risk) and you will see its not a bad proposition.
BTW I do not run a prop shop in China. I however think that global competition makes the world better. I think that the trading jobs will always be taken by the most capable traders not the lowest paid. If this were the case, GS would have moved their operations there a long time ago.
I would advise against putting your MSN and email address on the net so publicly.
Back to the topic, if you consider the alternative to be working in a sweatshop or some other minimal wage labour job or possibly seeing if you can trade risk free at swift's disposal, which would you choose? You gotta do what you gotta do to survive.
Back to the topic, if you consider the alternative to be working in a sweatshop or some other minimal wage labour job or possibly seeing if you can trade risk free at swift's disposal, which would you choose? You gotta do what you gotta do to survive.
hey, do you have experience working in the video-game playing business? I have seen some internet parlors in china full of these professional game players. What they do build up a character, obtain all the weapons magic etc, and then sell the character on ebay. By the way, you'd think a guy could do it on his own, but no most of it is organized. There is a boss who takes a cut, and does the reselling.
Anyway, i remember thinking while looking at their lightning fast keyboard fingerwork that some of these guys would make good traders. The problem is of-course english, if i were to hire one of those, i'd still need to teach them what i want them to do. (i dont think giving them 10000$ and asking to make some money would work)
To harold: is this becoming big in china? do they have it every big city now? What about trading on chinese markets?
Anyway, i remember thinking while looking at their lightning fast keyboard fingerwork that some of these guys would make good traders. The problem is of-course english, if i were to hire one of those, i'd still need to teach them what i want them to do. (i dont think giving them 10000$ and asking to make some money would work)
To harold: is this becoming big in china? do they have it every big city now? What about trading on chinese markets?
guy's i'm not sure if i understand. i thought the way it works is that the person has to deposit $5K of his own money. is this person saying that he doesn't have to put in any money of his own at all? in return, he gets a 5-15% cut of profits he makes from a $10K starting capital?
if this is true, then he's getting something for nothing - a good deal indeed. how would the company make any money from this arrangement considering most of the traders will lose their starting capital.
if this is true, then he's getting something for nothing - a good deal indeed. how would the company make any money from this arrangement considering most of the traders will lose their starting capital.
That's the way the market works. First guy to get in gets the most benefits... then others notice his huge profits and jump in, lowering prices and profit margins, until you get competition... it's only a matter of time.Quote from luckybastard:
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 powerPower to the people