Swifttrade Interview

Had I decided to go stocks, I would have gone Swift St. Clair (even address sounds good to me) or Title.
But I have few options with Forex, few in States and just got one in Toronto.
Why go and learn trading stocks when i already know how to trade Forex and have something to improve on already.
 
Quote from shiko2000:

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
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not really. Say u make 5 ticks on 1 lot. that's $50. To make $10,000, you need 200 lots = 20 mio, now from ur style of execution you probably will need another 80 to 150 set aside to double up if ur first possie goes against you. Now let's say you do 20 trades a day and all of them are profitable. And on average you make 3 ticks. That's 60 ticks, yes? suppose you execute via prime broker stream and the commission+spread is 1 tick per trade roundtrip. You net is 40 ticks.

Say ur running 200 lots that gives you $80,000 at the end of the day, yes?

Suppose you're consistent throughout the year, 250+ trading days you're profitable on 4/5 or 200 days. you make about 16 bucks at the end of the year.

Your daylight limit is 150. Your return is a little over 10%. Realize for every trade you make you're putting on over 20% of your entire limit.

Now to the million dollar question:
Why would any bank, or fund for that matter, be willing to give you $150 and pay you $300,000 a year to watch you risk $20-$150 on a minute-to-minute basis, whilst return a mere 10%. Realize that Brazilian 3 month government bonds are yielding 13.11% already!
 
with my account size I do not trade full lots of course:) It would be suicide:)
My tick worth $0.09.
I have had a couple of software problems with MB trading Navigator. Unauthorized trades... 2 days ago it changed my default just under my feet. So, I did not trust this program and tried to do everything manually, including take profit. Hence slippage and less income. Since yesterday I started automating my take profit and things considerably improved. i am picking more ticks per trade now. I cross my fingers no more surprises from software.
Cause curve looks really good now.
To do what you say, I need at least to increase my account 5 folds, ideally 10 folds. I see no difference for me trading demo and live. I can double account pretty quickly but I need some space for maneuver. Here, with micro I must be careful. But I calculated that with $5000-10 000 I can do real things.
Most of the days I have no single losing trade and % of losing trades is probably 1%. I was thinking of what you say, but need more staff on my account. Plus, this account goal is different. To show stable return on investment.
I am not trading aggressively here.... Aggressive means when i traded on about $120 in one week on $600 account. But I won't do this again. Too risky. The way I am trading now is what my prospective employer is looking for. My whole style now geared for this specific goal. Stable incremental increase of investments.
 
Now, when you counting my trades, count in 50% off the fee. When I trade for "bank" I will have to pay 50% fee from what I pay now. also, spread might be smaller. It increases my profitability plus it changes my strategy.
Then,m I am not doing 10% per year!!!!! It is a monthly increase or more. Right now, I was told to stop trading if I make 0.5-0.6% per day. I am doing what I am told here:)
You doe snot have all the information to make your assumptions:)
I am doing more than 10% per year:) much more.
 
I have not traded a year yet:) as I say, I found out about day trading on April 20, 2008. Before I had no idea what all this is.
Now, my progress curve is good, I am constantly improving and really feel good now about the way I am trading. Of course I have have more things to improve and take out some inefficiencies.
While being in Swift, I saw guys trading there for few months live on other people money and still not being able to make consistent returns...
 
Shiko:

How many PIPS are you holding a position for, on the average, net including the spread?

Are you paying commission on top of the spread?

I am trying to understand your blotter, the table of your trades is not clear to me. Where are the BUY/SELL prices and NET P&L?

8/1/2008 8:51:20 AM Buy 1000 EUR/JPY $167.3000 $0.00 $0.00 ($0.08)

e s
 
it is currency, price of the currency pair. then part where profit should be. (0.08) is a fee. fee is paid when i buy and when i sell. $0.16 for 1000 units.
plus 0-3 pips spread on average is 2
 
Wow.....I did not realize EUR/JPY was a currency pair!

If I was posting my blotter it might have a purchase price, a sale price and the net P/L in PIPS....that's just me....rock on.

Thanks for clarifying.
 
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