Swifttrade Interview

Well, I have started training with one of Toronto (GTA) area Swift trade branches in June, 2008. We all paid $499 fee.
From what I see office has more new students traders than experienced ones who mostly sit in separate smaller room while students sit in a bigger one.
We trade 100 shares right now with 2-3 cents per share stop loss. I generally like it there , I just wonder on what depends increase in BP and number of shares we allowed to trade.
I am mostly profitable . only 2 losing days out of 10.
 
Whitby's office manager is an idiot. I am deaf and during the interview I was mostly concerned to understand his questions than asking my own. I was after surgery and was only learning to hear anew. So, he turned me down for not asking correct questions. well, I guess it was for the better. His loss as I told him. I got admitted to another Swift branch.
I believe in myself.
 
Hi all, I just began my training at Swift, I had to pay $500, which I paid cause I'm thinking that I will learn a lot, and I think that i'll be a good trader so I'll get those money back soon :). I promise I will share my experience there ...
I wanna know more about Infinium too, and about other prop trading firms in GTA or in other provinces in Canada; I want to do this for a living and I wanna make it very good...
Thanks all and good luck :)
 
Hello, mysthars, as I stated before. I started trading with Markham swift trade. i believe swift trade is a good company but different branches differ, after we were told that those who want to stay to trade for next month have to pay $100. I was still thinking to pay and stay. However after telling I need few answers I was told that I should first bring money on Wednesday and then I would get my answers. i found that Markham branch does not have enough experienced traders to sustain them. so they use students to get money from. There are 4 experienced traders over there and last friday the whole office was in loss. and there are 11 students. The office management attitude is not what let traders grow. I am actually mor einterested in Fiorex trading right now and used swift to improve some my Forex skills. I am going with Forex.
Please share your experience with your Swift branch. What Branch you are in? I
 
Hi Shiko2000, I started with Richmond Hill branch, I paid only $500 till now, the manager didn't told me if there is other fees if you'll stay with them. I don't know much about the traders over there and about the office, but after I'll be more in to it, I'll be able to provide more personal opinions and experiences :).
I have faith and I believe that everybody's experience is unique and different, the results too...
I have read so many bad things and so many good too, I can't wait to make my own opinions about prop firms and trading with them :)
good luck to all of you!!!
 
Hello mysthars, you are at the same branch I was at. As I explained I quit for few reasons. it looked like students milking scheme to me and Tracy was rather rude with me on many occasions. I had most of the days profitable and had only 3 losing days there. I did not lose that much to pay additional $100. I had net loss due to 1 bad day but it could be $20-30 for 2 weeks of trading. Other guys lost a way more. I actually have never heard of other branches taking additional fees after the first one. Me and you already paid $500, what else? we spend our whole days there, no time to work normally, how can they ask for more money? I was told in the beginning, that after 2 weeks of trading they would tell who stay and who goes. They did not. They told, Tracy told that those who want to stay for second month gotta pay $100.
Now, I was watching and saw that they are taking new students monthly, charge each one $500 and then start bullshiting guys to pay $100 each month just to stay and trade? and when i ask a question, I am told pay money first then you get your answer. It does look very cheesy. Looks like a scheme to me. Guys who cannot trade earn by milking students. I do not want to trade in such branch.
Plus, I am on live account probation for Forex prop company and Swift started interfering with Forex which is impossible for me.
Be careful, people who take money from students time after time and say things they told me are not interested in gifted traders.

You have good attitude, me too, but I am too old to be sucker:)
I have letters from other Swift branches which I know are old established one. Plus I have addresses of other Toronto prop companies. But I think Forex has more potential and for now I am with Forex.

How was your first day? 3 days they have in classroom than demo trading.
 
Shiko, what other prop firms do you know in Toronto? So far, ive only heard of Swift, Title and Infinium.

Are you trading Forex on your own account?

Cheers
 
Hi Wazlov,

I know your post is old, I hope you're still around.

Are you saying that you have the ability to exchange ETF shares for the underlying basket of stocks and vice-versa as a private trader? Or is this something you are able to do through your bank job? I'm a private retail trader and I would dearly love to be able to do it. I don't think it's practical for me to take opposite trades in the ETF and the basket. So exchanging would be great.

I'd appreciate any light you can shed.

Thanks.

Quote from Wazlov:

No, the model would not necessarily work overnight (in the case that the fund changes it's weightings in it's underlying holdings)

It works well intraday, especially if you see lots of selling in the ETF, like, if one broker keeps consistently selling 500/1000 share lots at a given price range and the market depth of the bid keeps flopping around..usually easy to find a bottom/oversold condition.

The only problem is you have to watch carefully because the inneficiency is usually removed quite quickly, but for example, I could pull $.40 out of a $3.52 buy in one day if I caught it when someone really wanted out. (MLY.TO)
More...
 
Hi Shiko,
I just finished my first week there, I'll begin trading live next week.
It's my first time when I see scalping and learning about it, seems a good strategy to make some money, not to become a millionaire :); but it's something you have to learn if you wanna stay with Swift.
So, I'm gonna try to respect the rules and to learn as much as I can to advance to the next level.
Share more from your experience there. And you're now at another Swift branch? how's going there for you?
Thanks,
a wonderful weekend to all!!!
 
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