Swift Trade Canada/Hong Kong
- Thread starter kwancy
- Start date
And what if
1-chinese traders breakeven? Do get paid any minimal salary?
2-chinese traders lose money?
Who do you call for tech support while in China? 
China has no minimum wage labor law. Swift only compensates trader based on performance, no base at all. Therefore, traders cannot persist if they cannot consistently profit and that is the selection process at Swift. Survivers stay only. I guess the industry as a whole as well.
If traders lose money, they either make the money back or else they will not get paid. Traders will not ask to pay back the money they lose, which is a plus side from a pessimistic point of view.
If traders lose money, they either make the money back or else they will not get paid. Traders will not ask to pay back the money they lose, which is a plus side from a pessimistic point of view.
I just want to point out that Swift pays all traders across the world solely based on performance, not China alone. I made it clear that I am in Canada but a friend of mine who will open a branch in China.
They have the internal communication network that branch managers and trainer can use (not traders) for communication or tech. support.
They have the internal communication network that branch managers and trainer can use (not traders) for communication or tech. support.
How do all these young guys (assuming mostly male, including yourself) make money at Swift these days?
Liquidity providing? Jumping on momentum?
Like your Chinese trader example who makes 8000 and gets paid 10% = 800 USD per month. They still have to do something to make that 8000K in the first place. And I understand they can't really take positions - so what strategies allow them to grind it out like that - if at all?
I'm getting too old to play those kind of videogames any more but I'm curious...
Liquidity providing? Jumping on momentum?
Like your Chinese trader example who makes 8000 and gets paid 10% = 800 USD per month. They still have to do something to make that 8000K in the first place. And I understand they can't really take positions - so what strategies allow them to grind it out like that - if at all?
I'm getting too old to play those kind of videogames any more but I'm curious...
It's not that hard...traders can scalp, credit trading, taking momentum positions but no overnight. 8000 USD/month, average is about 400 per day. 20 ticks with 2000 shares or 40 ticks with 1000 shares??
But to make real big money which some guys do, they sequeeze it really hard and they are taking home a lot like mnx does.
But to make real big money which some guys do, they sequeeze it really hard and they are taking home a lot like mnx does.
Trading at Swift is what you make of it. It is just unfortunate that it gets a bad name because most of it's traders have little to no experience, which over shadows the fact that they still have a bunch of talented traders. I know a lot of very successful traders out there who got their start at Swift. Bottom line is that if you can make money prop. trading then firms will be interested in you regardless of where you are coming from.