Swifttrade Interview

Quote from shiko2000:

Hi eusdaiki,

It is very simple. I traded equities only for 2 weeks. Actually, it gave me some ideas about forex trading. I am not sure about other companies. But when we traded with Swift, we were paid for added liquidity when we placed our orders and did not open positions manually. it meant that for example adding or removing liquidity with Nasdaq or some another similar company. we got $0.25-$0.28 per 100 shares if we opened and closed positions not manually but via that company. I was watching myself and others. I for example almost always tied to use this way to make money. It meant that even when I bought and sold for the same price. at $0, but did it using added/ removing with them liquidity , I still got the money. As a result, you could lose and make a lot of losing trades but end up with less loss than if there were not this option or even with small profit. I regularly observed it and if I traded like this in Forex, I would lose my shirt. In Forex i am paying commissions which are 2 pips, plus 2 pips spread. 4 ticks. it is only 1 tick when trading equities. That is why I told they would be a toast. There is no place for making so many losing trades in Forex and stay in the business.
I guess it would be good to start Forex thread. I guess i will do it soon. I am too busy with my trades:) things going good:)
More...
Yeah, I know the game of credits... I was a credit trader back in the days of Attain and Sub penny shavings... but that game died in 2007 with reg NMS.
I'm just surprised that there are some offices still teaching new trainees to trade for credits.No wonder they're struggling...
 
To put money in the bank I need at least $10 000 on my account:) I am going to put more there but it is not my goal. I can earn more by making money for some fat cats:)
This is my goal:)
 
also, if you can trade micro account, you sure can trade bigger account. It is much harder to make money in micro. Now, I believe , micro account is a way for broker to eat small fish:) Small fish also can be quite tasty
 
Quote from shiko2000:

eusdaiki, you mean paying for added/ removed liquidity is not a common practice everywhere?
More...

Making your profits from adding liquidity [instead of market moves] is not something many traders do anymore... [at least not in swift]. Most traders now a days use liquidity rebates only to reduce their GW fees [not with the intention of making a profit from it]
 
From your response I deduce you must be from another Swift branch. I understand each branch is different. The one I attended was probably at the bottom. I have no doubt there is good branches. I actually received a letter from Toronto, St. Clair branch. I think this one must be good one. I also think that market moves is what make real money. Although, if they offer additional source of income i must be used as well. But nothing will take place of the proper understanding of the market.
One more thing I like more about Forex is that Forex is generally a pure market and cannot be manipulated unlike stocks.
 
Quote from shiko2000:

From your response I deduce you must be from another Swift branch. I understand each branch is different. The one I attended was probably at the bottom. I have no doubt there is good branches. I actually received a letter from Toronto, St. Clair branch. I think this one must be good one. I also think that market moves is what make real money. Although, if they offer additional source of income i must be used as well. But nothing will take place of the proper understanding of the market.
One more thing I like more about Forex is that Forex is generally a pure market and cannot be manipulated unlike stocks.
More...

The Toronto St Clair office is a great place to learn to trade.
 
Quote from shiko2000:

One more thing I like more about Forex is that Forex is generally a pure market and cannot be manipulated unlike stocks.
More...

lol. Sounds like free money! Stick with it!
 
:) Yeah, free money:) why 95% lose em then in Forex?:)
But really, try to manipulate $3 trillion a day volume:) Can you imagine this? Forex is not divided into small entities called companies
 
You must log in or register to reply here.
Back
Top