Swifttrade Interview

Quote from mysthars:


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.
More...

Well you've got step one down, a great attitude! Good luck!
 
Hi Mysthars,

I am not with another branch yet. as I mentioned I am trading Forex from home.
Need to make good record to make good presentation. I do not think i tis possible to trade both Forex and Swift same time.
I am scalping with forex too. this one is a good strategy to control risk. I need to admit though it is much easier to cut loses with other people money than with your own:)I learned to cut losses at swift after 2-3 cents easily, here is much harder. Good that i have high percentage of profitable trades. Plus, in forex you are not being paid for adding liquidity... I pay high fees which are virtual killers. i need 2 ticks just to cover fees plus spread and only then to get profit. Not like 1 tick with equities. Volatility is also is much higher. However the good thing is that no one is controlling Forex market and liquidity is huge.
I am not applying for another branch yet cause I am more interested in Forex. Unfortunately there is no forex prop companies in GTA. so I am in contact with US prop company.
Let me know how is your live trading. I had problem with software. 2-3 times opened more than 100 shares positions. Not by design but just when market moves messed right and left hands:)
 
Hi again Mysthars,

You have got a great attitude.
It is good.
I really love trading equities or Forex I simply love it. Time goes by quickly.
I would say it is always better to trade with other people money. Real money or not it doe snot matter. What is matter is whose money it is:) if not yours you do not feel attached and can cut loses. I strongly believe that losses risk control is more important than ability to get money. I am obsessed with lose control and trying various ways to reduce risk.

have a great weekend and say hello to Mason and other Chinese guys there:)
 
Thanks Szeven,in my opinion if you want to succeed in anything you have to have and keep a positive and good atitude, to be very disciplined, to pursuit your dream even if you'll encounter lots of obbstacles in your way.
I am new to trading but I discovered that is my passion, so I want to learn a lot, to obey the rules to get to a higher level, and why not to achieve a 7 digits bank account.
Szeven, from what I've read from your posts you made history at Swift, and you became a really good trader, I wanna ask you if I'm gonna need some advice at some point may I ask you? Thanks.
Shiko, I don't know about forex, I wasn't interested in Forex at all till now, maybe in the future when I'll gonna be more advanced in trading I'll consider that too.
About Swift , what I found great is the possibility to learn trading with others peoples money, whitout having a proper education or something (of course if you wanna make it in meantime, your free to do it), and if you become good there is no limit.
Wish all a wonderful weekend!!!
 
Hi mysthars, tell me how was your first day live. How many new guys came?
check my scalping:)
You can see commissions are huge. They give 50% discount but not for $500 micro account like mine:)

trade Summary
Date Event Volume Curr Pair Price P&L P&L USD Commission
7/9/2008 12:09:11 PM Buy 1000 EUR/JPY $168.5800 $0.00 $0.00 ($0.08)
7/9/2008 12:10:04 PM Sell 1000 EUR/JPY $168.6200 $0.37 $0.37 ($0.08)
7/9/2008 12:17:40 PM Buy 1000 EUR/JPY $168.5800 $0.00 $0.00 ($0.08)
7/9/2008 12:18:30 PM Buy 2000 EUR/JPY $168.5100 $0.00 $0.00 ($0.16)
7/9/2008 12:20:21 PM Sell 3000 EUR/JPY $168.5600 $0.75 $0.75 ($0.24)
7/9/2008 12:21:37 PM Buy 1000 EUR/JPY $168.5500 $0.00 $0.00 ($0.08)
7/9/2008 12:27:43 PM Sell 1000 EUR/JPY $168.5900 $0.37 $0.37 ($0.08)
7/9/2008 12:35:46 PM Buy 1000 EUR/JPY $168.5400 $0.00 $0.00 ($0.08)
7/9/2008 12:43:30 PM Sell 1000 EUR/JPY $168.5700 $0.28 $0.28 ($0.08)
7/9/2008 9:09:37 PM Buy 1000 EUR/JPY $168.0100 $0.00 $0.00 ($0.08)
7/9/2008 9:11:20 PM Sell 1000 EUR/JPY $168.0350 $0.23 $0.23 ($0.08)
7/9/2008 9:12:37 PM Buy 1000 EUR/JPY $168.0100 $0.00 $0.00 ($0.08)
7/9/2008 9:18:58 PM Buy 2000 EUR/JPY $167.9100 $0.00 $0.00 ($0.16)
7/9/2008 9:30:23 PM Sell 3000 EUR/JPY $167.9800 $1.03 $1.03 ($0.24)
7/9/2008 9:34:41 PM Buy 1000 EUR/JPY $167.9950 $0.00 $0.00 ($0.08)
7/9/2008 9:43:41 PM Buy 2000 EUR/JPY $167.9100 $0.00 $0.00 ($0.16)
7/9/2008 10:04:21 PM Sell 3000 EUR/JPY $167.9550 $0.47 $0.47 ($0.24)
7/10/2008 6:17:10 AM SellSht 1000 EUR/USD $1.5706 $0.00 $0.00 ($0.08)
7/10/2008 6:38:15 AM SellSht 2000 EUR/USD $1.5713 $0.00 $0.00 ($0.16)
7/10/2008 6:51:22 AM Buy 3000 EUR/USD $1.5709 $0.50 $0.50 ($0.24)
7/10/2008 6:54:12 AM SellSht 1000 EUR/USD $1.5711 $0.00 $0.00 ($0.08)
7/10/2008 7:04:35 AM Buy 1000 EUR/USD $1.5709 $0.20 $0.20 ($0.08)
7/10/2008 7:10:16 AM Buy 1000 EUR/CHF $1.6220 $0.00 $0.00 ($0.08)
7/10/2008 7:14:20 AM Sell 1000 EUR/CHF $1.6223 $0.29 $0.29 ($0.08)
7/10/2008 7:15:28 AM Buy 1000 EUR/CHF $1.6226 $0.00 $0.00 ($0.08)
7/10/2008 7:20:32 AM Sell 1000 EUR/CHF $1.6228 $0.19 $0.19 ($0.08)
7/10/2008 7:43:42 AM Buy 1000 EUR/CHF $1.6224 $0.00 $0.00 ($0.08)
7/10/2008 8:10:41 AM Sell 1000 EUR/CHF $1.6225 $0.11 $0.11 ($0.08)
7/10/2008 8:15:01 AM Buy 1000 EUR/CHF $1.6224 $0.00 $0.00 ($0.08)
7/10/2008 8:30:07 AM Sell 1000 EUR/CHF $1.6228 $0.39 $0.39 ($0.08)
7/10/2008 8:36:48 AM Buy 1000 EUR/CHF $1.6222 $0.00 $0.00 ($0.08)
7/10/2008 8:55:59 AM Buy 2000 EUR/CHF $1.6214 $0.00 $0.00 ($0.16)
7/10/2008 8:57:21 AM Buy 3000 EUR/CHF $1.6207 $0.00 $0.00 ($0.24)
7/10/2008 9:08:52 AM Sell 6000 EUR/CHF $1.6213 $0.68 $0.68 ($0.47)
7/10/2008 9:13:54 AM Buy 1000 EUR/CHF $1.6217 $0.00 $0.00 ($0.08)
7/10/2008 9:31:17 AM Sell 1000 EUR/CHF $1.6218 $0.10 $0.10 ($0.08)
7/10/2008 9:38:52 AM Buy 1000 EUR/CHF $1.6217 $0.00 $0.00 ($0.08)
7/10/2008 9:41:50 AM Sell 1000 EUR/CHF $1.6216 ($0.10) ($0.10) ($0.08)
7/10/2008 9:44:56 AM Buy 1000 EUR/CHF $1.6223 $0.00 $0.00 ($0.08)
7/10/2008 9:45:47 AM Sell 1000 EUR/CHF $1.6225 $0.24 $0.24 ($0.08)
7/10/2008 10:11:15 AM Buy 1000 EUR/JPY $168.5300 $0.00 $0.00 ($0.08)
7/10/2008 10:14:48 AM Sell 1000 EUR/JPY $168.5800 $0.47 $0.47 ($0.08)
7/10/2008 10:23:14 AM Buy 1000 EUR/CHF $1.6212 $0.00 $0.00 ($0.08)
7/10/2008 10:26:28 AM Buy 2000 EUR/CHF $1.6206 $0.00 $0.00 ($0.16)
7/10/2008 10:27:54 AM Sell 3000 EUR/CHF $1.6210 $0.55 $0.55 ($0.24)
7/10/2008 10:28:18 AM Buy 1000 EUR/CHF $1.6209 $0.00 $0.00 ($0.08)
7/10/2008 10:35:19 AM Sell 1000 EUR/CHF $1.6212 $0.29 $0.29 ($0.08)
7/10/2008 10:36:04 AM Buy 1000 EUR/CHF $1.6213 $0.00 $0.00 ($0.08)
7/10/2008 10:42:36 AM Sell 1000 EUR/CHF $1.6216 $0.29 $0.29 ($0.08)
49 trades 72000 $7.70 ($5.75)
 
Hi to all,
so I finished my first week of trading at Swift, it was a very interesting one, I want to mention that my stock exchange exoerience it's very new, since April 2008; so I did good trades and bad ones, it was a chaotich mix of trades since wensday when I realize the importance of being disciplined. So I become to go ddeeper in technical analisys, and time and sell, charts, wich are some powerful tools of trading. I realise that even if sometimes it's boring and unproductive to trade only 100 shares at a time and to have stop losses of 2 or 3 cents, and to trade only slow moving stocks, actually you learn a lot of important things. So I am very pleased with this course and with me trying to become a trader, I hope to improve myself as the time pass by, and to learn much more, to learn to read and to interpret much more perfect the technical analyse.
Now I want to appologise for my poor english, which I have to improve it, too and I'll wish you all a very profitable week!!!
 
Hi mysthars,


I do not see 100 shares is boring at all. Only when market is not moving. It seems we started same time, I started on April 21, 2008. Did you demo trade before coming to Swifttrade?
How many new guys are there at your group?
 
To pay somebody to work for them meets the definition of scam.

The best way to learn is by doing... outside of a classroom environment. Reading, watching, and waiting, is most of it. Gann and candlestick analysis are good starting points. And gaining a background in Austrian Economics has helped me. Mises.org has many free resources, and has been extremely helpful.

Dr Marc Faber is an Austrian, and Jim Rogers, may follow this general mantra. Remember, the Austrians were able to call the depression, unlike the inflationists and stable pricing gurus of the day. Fischer, Keynes, et al.

CNBC and Fox cheerleaders, are not a help. They only waste your time. They depend on the advertisers, investment banks, and brokers, that only want to churn through your money.
 
Yes Tiger6. this branch is a scam, no questions.
You probably read what I wrote.
You are also right about learning by doing. I am doing exactly this. Trading Forex myself from home. Results are much better than trading equities with Swifttrade.
 
Quote from Wazlov:

I don't think I understand their business model even after I've just had an interview at a branch office.

Upon arrival, I was interviewed by the office manager who did not even get my name correct (after the fact that I sent him my resume and spoke to him on the phone) and then told me that I would have to pay $499.99 in order to get a try at trading a $50,000 simulation account for 30 full days, during which time I
would recieve no compensation. I was told that at the end of the "trial" period maybe 1 of 5 candidates would be selected to try trading a $50,000 account with a payout of 35% up to the first $100,000 revenue brought in, which could increase to 65% as you progress.

I will be completely honest with you when I say that I am unable to go through a 9:30-4:00 training period with no compensation for a full month. I need to eat somehow.

Also, I got some kind of interview questions like "where do you see yourself in 5 years?" and other cliche's I didn't know how to respond to. The only trading related question I got was weather or not I could explain what short selling is.

Throughout the past two summers and part time throughout each year, I have been employed by a local wealth management firm as an equity research assistant.

In addition to the experience gained at the firm, I have also enjoyed trading equities, ETF's and options in my personal account during the last year. I had my greatest success with an ETF arbitrage model I ran off of Reuters Plus linked to Microsoft Excel which outlined the disparity between the NAV of the fund and the underlying assets, from which I could detect ineffeciencies and capitalize on them. My trading account however, had to be depleted in order to pay for school.

I got from the interview that they were going to try to "teach" me trading methods which would probably not work for me anyway. I would love to learn more risk management (which is the name of the game) but I feel highly confident in my methods and just need the capital and opportunity to implement them in a disciplined environment.

Should I expect the same type of experience from every manager?

Thanks, for your attention and input, the rant made me feel better.


:)
More...


$499.99 are you fucking kidding me, its sad there are so many dishonest people out there. I wish you luck in your trading, persevere. What a fucked up company!!:mad:
 
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