question about foreign currency trading

R

roumeo

Dear all,

I will have a coming interview about the foreign currence trading. Now I don't have any idea about this. I am wondering whether this is very risky compared with the equity trading. Could anyone give me some suggestion about this?

As a new guy, I hope that I will have some directions before I go to interview. The firm is in Wall Street.

Thanks.

Roumeo
 
roumeo

Are you the guy who posted about this before? You have an interview with a currency trading firm, but you don't know anything about trading currencies? In the other post there was also mention of managing other people's money. Am I the only one who thinks this is bizarre? Who says there's fraud in currency trading?

Also-wellmax-Give it a rest !

Snake
 
Originally posted by Snake Plisken
roumeo

Are you the guy who posted about this before? You have an interview with a currency trading firm, but you don't know anything about trading currencies? In the other post there was also mention of managing other people's money. Am I the only one who thinks this is bizarre? Who says there's fraud in currency trading?

Also-Wellmax-Give it a rest !

Snake
More...

I agree on both counts ...
 
roumeo

why would you need any idea about currence trading - you just go there - they wack you 100M - you press a few buttons - and whap - bucket loads of money

equity trading is easy as well - but dont do both - unless its at the same time

surprised they want to interview you - normally they just deliver the money and a computer to your home after you call them - wanting to interview does sound a bit suspicious - they must be a new trading company - and dont know about just sending you the money
 
hi, guys

absolutely I know what is foreign exchange. I just feel that the interview was weird. In fact, I posted another message on the board again about what is that company. There are a lot of foreign exchange companies sucked. That company is same. They need me to get money and trade that money without using any financial model and hedge. Just buy and sell. What the hell is it? The first, who will give me the money, secondly, if I lose the money, who will be responsible for that loss? So it is totally not a job for me.

roumeo
 
How much do you have to know to quote a price every time some dumb corporate customer with no quote screen calls the bank? You add two or three pips to whatever they're buying, then lay it off as soon as they get off the phone.
 
That is crackers. You sent them a resume that shows no experience in foreign currency trading and they asked you for an interview?
I must be missing something here.
:confused:
 
Matthew,

We had a place in Houston not to long ago they may be like this (might still be around, always had ads in the newspaper). They expect you to either borrow funds from family/friends, go out and try to raise the $25k or $50k, or use your own money. Then they have you trade in the office and pay a desk fee, commissions, and some other fee's. They tell you can come in at night to trade Asia/overseas and they provide a back office with cot's & a kitchen to use. Most just nickle and dime you to death.

All stuff you can do at home with a reputable FCM at a cheaper cost.
 
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