Swift Trade Canada/Hong Kong

K

kwancy

I have been trading at Swift for almost two years. So far I am doing okay with approximately 10,000 net per month this year (take home ~3000-4000 USD), I know i can do better. The business structure of Swift has become mores hideous since it lowers the hiring qualification and constant system failure, not to forget the "10% Chinese paid-out scam". I sort of losing my momentum and motivation as I cannot see a future of myself at Swift.

This is the first job I have since I graduate. Although the money is okay, I regret a bit because of the feedback I receive from other companies. I am 25 and enrol in the CFA program, will like to work in a fund/financial institution eventually. Competition is really fierce in Canada. Toronto is the city with the second most CFA charterholder, NY/NJ being the first. Firms in Canada have a disgrace about Swift and perceive it as a pool of people cannot find a real job anywere, although I disagree and will like to ask them to try before judging.

Anyways, I am Asian and have the thought of going back to H.K. to work in the financial industry, hopefully in investment banking. While looking for jobs in HK during the summer, I was planning to trade in the H.K. branch that will re-open June. However, I abandon the idea as soon as I was informed of the address. People in H.K. will know the "real deal" about this area, and I definitely do not want to work there at night (US trading hours). I was startled and afraid that the experience at Swift will give me bad reference even in H.K. because people judge you by the cover. Certainly, I hope my perception about the H.K. branch is wrong.

I will like to ask anyone who has the knowledge about i-bank and prop. shop to offer some advice in my job search, in Canada or H.K. Is it ever possible to go from prop. to i-bank, not necessarily trading of course because that will be impossible. I appreciate any opinion as whether to stay at Swift and dedicate more time to trade at least until I pass the CFA level II or III exam, or just leave and find a "real" job right now with possibly lower paid but better reference, start from the bottom. I think it will surprise anyone in the i-bank or funds that traders at swift has no financial analytical or modelling skills but purely young TV-gamers. I love the atmosphere at Swift initially because of the flexibility that fits my studying schedule, but figure this is not the way to go when I am 30.

thanks
 
huh....nobody can really offer any opinion to my questions but a lot of people respond to the "car thread", surprise me about how rich traders on ET are....ha ha

Is this the wrong place?
 
you can apply for a job here.
<img src="http://appledaily.atnext.com/images/apple-photos/640pix/20060504/Article_news/04la1p111.jpg">
 
I thought his posts were quite funny.

HK is like any other market. It's difficult to move from being a prop trader for your own account to a trading firm/market maker or i-bank. There are plenty of threads on this topic on this site. You've been to HK and stated you've been pounding the pavement, that might work as firms are hiring. If you came to me for example with a CV loaded up with great mathematical ability, computer expertise, interest in the markets, knowledge of derivatives, I'd certainly speak to you and so would other firms. However, if you CV just stated prop trader w/o much else experience, I'd probably pass.
 
Quote from def:

I thought his posts were quite funny.

HK is like any other market. It's difficult to move from being a prop trader for your own account to a trading firm/market maker or i-bank. There are plenty of threads on this topic on this site. You've been to HK and stated you've been pounding the pavement, that might work as firms are hiring. If you came to me for example with a CV loaded up with great mathematical ability, computer expertise, interest in the markets, knowledge of derivatives, I'd certainly speak to you and so would other firms. However, if you CV just stated prop trader w/o much else experience, I'd probably pass.
More...

"pounding the pavement"..haha, I think you got the wrong guy because I have not been to HK since 6 yrs ago, back in the days when I was still at University.
your interpretation of mathematical ability, computer expertise, interest in the markets, knowledge of derivatives are really really generic. I will say I have knowledge on these but am not really an expert in any particular field. As you may know it takes tremedrous effort and experience to write the complete program trading (plus back-testing), not to mention the derivatives strategies. Great mathematical ability, Ph.D in Physics or Mathematics?? I do not really trade on my own account but everything is provided by the prop. shop I work. Therefore, from your definition you can say I work in a trading firm I guess.

I appreciate anyone with specific answer instead of BS. Thanks
 
Quote from kwancy:

"pounding the pavement"..haha, I think you got the wrong guy because I have not been to HK since 6 yrs ago, back in the days when I was still at University.
your interpretation of mathematical ability, computer expertise, interest in the markets, knowledge of derivatives are really really generic. I will say I have knowledge on these but am not really an expert in any particular field. As you may know it takes tremedrous effort and experience to write the complete program trading (plus back-testing), not to mention the derivatives strategies. Great mathematical ability, Ph.D in Physics or Mathematics?? I do not really trade on my own account but everything is provided by the prop. shop I work. Therefore, from your definition you can say I work in a trading firm I guess.

I appreciate anyone with specific answer instead of BS. Thanks
More...

Your quote "While looking for jobs in HK during the summer..... "

I read that as if you were IN HK during the summer - pardon me.

A word of advice.... Rather than telling someone who is in a position to assist you (I've been in HK for over 11 years, deal regularly and directly with top mgmt at both the HKEx and SFC as well as the heads of other banks and brokerages) that they are feeding you BS, you might want to consider thinking twice before you type/speak. I've helped a number of people obtain jobs within and outside of my firm since setting up shop here. I guess you won't be one of them. Best of luck.
 
I appreciate your courtesy to offer help, and sorry if I offend you that you are initially trying to help. But I found it frustrated with people playing jokes while I am posting for a serious question. Anyhow, I speak sincerely that your reply did not really answer my question, I understand you are pissed off by a young guy who you think have no manner at all. But more specific answer will be appreciated, I know what I ask and I seek.
 
Quote from def:

A word of advice.... Rather than telling someone who is in a position to assist you (I've been in HK for over 11 years, deal regularly and directly with top mgmt at both the HKEx and SFC as well as the heads of other banks and brokerages) that they are feeding you BS, you might want to consider thinking twice before you type/speak.
More...

No kidding.

kwancy, I noticed that you said his reply didn't answer your question. Your question was

"Is it ever possible to go from prop. to i-bank, not necessarily trading of course because that will be impossible".

def gave you a specific answer to that question from his perspective.

"It's difficult to move from being a prop trader for your own account to a trading firm/market maker or i-bank".

The you go on to lecture him about how hard it is to develop a trading system.

Respect will go a long way when talking to people that can help you. It's usually insecure people who lash out like you did.
 
dude,

i think it's time for you to take your opportunity at swift more seriously...

there are soooooo many opportunities out there (i'm talking about the market of course)...

with a lot of effort and a little luck you could be making 5x... maybe you need to try and visit a few of the top branches, although I know of at least one branch that will stick you in a room by yourself.... but it still may be worthwhile if you can meet some other traders and pick their brain...

either way, maybe you want the security of a real job. nothing wrong with that. best of luck.

in the mean time, try and kick it up a couple notches.... learn everything you can.

later

mnx
 
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