sixcapital?

8passion

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Guess What guys they knew their game is up.

Saw today paper "The Straits Time" SIX CAPITAL adv. for Seminar after all.


Go go ahead n pay SIN $3,500 to become Prop. Trader...:eek:

Real Sweet Corn oh man! @$$#^%&#
 

koreanlover

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Guess What guys they knew their game is up.

Saw today paper "The Straits Time" SIX CAPITAL adv. for Seminar after all.


Go go ahead n pay SIN $3,500 to become Prop. Trader...:eek:

Real Sweet Corn oh man! @$$#^%&#

What did the ST ad say?

Their website did say something about the seminar next Tue and you can register here.

But the funny thing is that they ask about your employment details (Employer, designation and Start date , end date (if applicable))
 
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Weng123

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Just to make a quick comparision.

This website points to a reputable prop trading firm in New York.
http://www.smbtraining.com/

They do conduct lessons in office and online. And they do pick and train their best students personally to be real traders.

Maybe you guys should look at 6 caps and think further and harder before putting in any money.

I'm reading a book written by the founder of smb and his company is what a proper prop trading company is all about.

Strict recruiting standards, no cost high quality training program and a good quality trading desk with traders trading the company's money.
 

arty79

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I'm reading a book written by the founder of smb and his company is what a proper prop trading company is all about.

Strict recruiting standards, no cost high quality training program and a good quality trading desk with traders trading the company's money.


Glad you found that book to be good.
Too many "how to get rich easily in trading" books and seminars nowadays.

Good things don't come cheap, neither does high quality education, esp something like trading.

Too many monkeys training programs locally, a trainer that can go from trading coach to success coach to propery investor all in one does not show any substance in him.

Neither does the "feed me" mentailities of newbies help either.
 

kenwongyl

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Patrick gave the following criteria for hiring dealers:

1. Min 300 pips profit a month

2. Min 2 pips profit per trade

3. Min 14 trades a day

4. Min 70% of trades profitable (Increased from 60% previously, he said good traders can get 90-100% and showed us a few ppl they hired)

5. Trade a EUR 100,000 size live (Don't need capital of EUR 100,000 as it can be leveraged)

6. One more which I can't remember.

Anybody can comment whether these are achievable ?

All this can be done. I can assure you.
I took up this program ... you have to pay of course. And i took the risk that the investment could be lost. Looking back, i think the investment of 3.5K was worth the investment.

The program is more of training your trading skill, than teaching you how to read indicators and such. After more than 3 mths in this program, i trade without any indicators, just purely based on price action, with a trading profit of ~ 1-5pips per trade. Win Rate is averaged at 80%. These are the foremost criterias. If these can be met, the rest are not really a concern.

Trading volume comes with confidence. It is a mental thing here. Ppl tends to screw up (myself included) when one focuses too much on making money quickly. A quote from Patrick: "You can't take from the market what it is not willing to give". One has to trade with discipline based on targets that you have mentioned above.

Well .... I have yet to break even I have to admit, as i have took substantial losses before i joined this program. But looking at the way i am trading now, I am a believer that this system would work.
 

kenwongyl

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Oh yeah, just to add to that ....
I am average off abt 400pips/mth, based on
~ 20pips/day profit
~ 10 trading days.

This month I have traded for 4 days...
Net profit: 130 pips +
Ave Win Rate: 84%
Trading Hrs/day: ~ 4hrs

How is that? Sounds nice doesn't it. But i can also assure you that it is definitely not easy. Complacency would be the death of a trader, or a would-be trader. :s13:

(P/S: We don't talk abt $ and cents here as volume would affect the profit and loss. As a benchmark, a vol of 10K per lot, would means 1pip = 1dollar profit before commission deduction from the trading bank that one use)
 

Forever84

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Oh yeah, just to add to that ....
I am average off abt 400pips/mth, based on
~ 20pips/day profit
~ 10 trading days.

This month I have traded for 4 days...
Net profit: 130 pips +
Ave Win Rate: 84%
Trading Hrs/day: ~ 4hrs

How is that? Sounds nice doesn't it. But i can also assure you that it is definitely not easy. Complacency would be the death of a trader, or a would-be trader. :s13:

(P/S: We don't talk abt $ and cents here as volume would affect the profit and loss. As a benchmark, a vol of 10K per lot, would means 1pip = 1dollar profit before commission deduction from the trading bank that one use)

I just took
862 pips on eur/usd 8 Nov holding for 31 days and i trade 10 mins a day.

sound nice doesn't it? and is damn easy.

but wats ur point?

there so many ways to make money off the market.
but
the fact tat he ask u to open an account with his broker is already suspect enough.
if you're really with a broker he introduced him as what some ppl have told me.
then there is a very simple reason why he teach u to trade this way.
i can tell u started trading only recently.

my question is very simple
u say u scalp 1-5 pips but
how deep is ur stop.
wat is ur win/loss ratio?

anyway good luck to u and ur trading career
 

Forever84

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six capital really sounds bad according to all u ppl here

my advice is
don't take it from us.

just go down and understand it for urself.

do ur homework
ask the right questions.

find out where their trading desk, etc.
be ur own judge.

understand what is trading about.
don't be clueless about swimming and just jump into the sea

if you think you can be a good trader after attending a course.
think again.
its not simple as that
 

icelemontea

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its simply foolish to judge something with just a few months

wadever they are teaching you...14 trades a day i'm certain its making them more money than its making u.
 

cosmothecat

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...

my question is very simple
u say u scalp 1-5 pips but
how deep is ur stop.
wat is ur win/loss ratio?
...


To scalp profitability, it's possible ... but it takes a lot of hard work and practice. Take for example, just within 1 hour ... I have pocketed 30 pips in profits. Going to stop for today.

Yes, I pay lots for the spread incurred. But, if you mastered the skill ... the win ratio can be surprisingly high (I am pleasantly surprised myself).

Just to let newbie know, I have been trading for close to 10+ years, and it is only recently that I am starting to be profitable.

I am very good at analyzing longer term trends and TA, on paper can make a lot of 'money', but when it comes to executing longer term positions ... most times I get knocked out by the short term volatility. Being proven 'right' in theory is no use. In trading, your profitability and bottom-line is your ultimate KPI.

I have never believe in ultra short term scalping (too much work) ... but ironically, it is this method that I least believe in that is showing the results.

Life is funny, I strive so hard to be a position (swing) trader ... but only to discover that I am a good scalper.

So, whatever floats your boat ... as long as you can make profit consistently ... that's the method that you should stick to.
 

Forever84

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To scalp profitability, it's possible ... but it takes a lot of hard work and practice. Take for example, just within 1 hour ... I have pocketed 30 pips in profits. Going to stop for today.

Yes, I pay lots for the spread incurred. But, if you mastered the skill ... the win ratio can be surprisingly high (I am pleasantly surprised myself).

Just to let newbie know, I have been trading for close to 10+ years, and it is only recently that I am starting to be profitable.

I am very good at analyzing longer term trends and TA, on paper can make a lot of 'money', but when it comes to executing longer term positions ... most times I get knocked out by the short term volatility. Being proven 'right' in theory is no use. In trading, your profitability and bottom-line is your ultimate KPI.

I have never believe in ultra short term scalping (too much work) ... but ironically, it is this method that I least believe in that is showing the results.

Life is funny, I strive so hard to be a position (swing) trader ... but only to discover that I am a good scalper.

So, whatever floats your boat ... as long as you can make profit consistently ... that's the method that you should stick to.

u really believe that there exist a "short term" trend?

trading short time frame charts is really just trading noise.
u been trading for so long
you should know what the market is made up of. (in "reality")

it comes back to the question how deep is ur stop.
wat is ur risk:reward ratio and what is the possibility of u being "right" more than 30% of the time when we really DO NOT know how the market reacts.

in short, nobody can PREDICT the market. not unless u r a fortune teller. even the best economist cannot tell u for certain where the market is headed

i trade less than 10 minutes a day.
08nov2010.jpg


this was my account on nov 08 earlier this week.
 

sAVaGEmP5

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WOw u traded 10 years losing and u still trade ? What makes u think this time round its different, could it be luck ? (tossing a coin head side 10 times in a row?)

If so i would love to buy ur strategy package into a C++ automation trading bot and trade with a PC. Chances are it dun work ??


To scalp profitability, it's possible ... but it takes a lot of hard work and practice. Take for example, just within 1 hour ... I have pocketed 30 pips in profits. Going to stop for today.

Yes, I pay lots for the spread incurred. But, if you mastered the skill ... the win ratio can be surprisingly high (I am pleasantly surprised myself).

Just to let newbie know, I have been trading for close to 10+ years, and it is only recently that I am starting to be profitable.

I am very good at analyzing longer term trends and TA, on paper can make a lot of 'money', but when it comes to executing longer term positions ... most times I get knocked out by the short term volatility. Being proven 'right' in theory is no use. In trading, your profitability and bottom-line is your ultimate KPI.

I have never believe in ultra short term scalping (too much work) ... but ironically, it is this method that I least believe in that is showing the results.

Life is funny, I strive so hard to be a position (swing) trader ... but only to discover that I am a good scalper.

So, whatever floats your boat ... as long as you can make profit consistently ... that's the method that you should stick to.
 

cosmothecat

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WOw u traded 10 years losing and u still trade ? What makes u think this time round its different, could it be luck ? (tossing a coin head side 10 times in a row?)...

Unwavering belief that I can be a consistent profitable trader one day. Tenacity and gumption to solider on towards my goals.

That's why I am sharing my stories with newbies, to let them know that it is not as easy as it seems. If you check back the posts in this thread or the other FX thread started by steve, I had a few posts detailing the dramatic start of my trading journey.

Found the link to the post:
http://forums.hardwarezone.com.sg/showthread.php?p=45532771#post45532771
 
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skunky

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Six Capital does indeed earn comission from you when you trade with their broker dukascopy.

On their website, if you hover your mouse over the dukascopy hyperlinks to open account, you look at the address of the hyperlink, it contains information to show that it is telling dukascopy who is referring the client to them. -->Six Capital.

Considering that forex rebate companies are offering 45% commission rebate to clients who sign up for dukascopy through them, can you imagine how much rebate six capital is getting out of you? at least 50+% of your comission will go to six capital.

trade 14 times a day? Hahaha indeed
 
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icelemontea

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U will be surprise that most people dont do simple math.

Six Capital does indeed earn comission from you when you trade with their broker dukascopy.

On their website, if you hover your mouse over the dukascopy hyperlinks to open account, you look at the address of the hyperlink, it contains information to show that it is telling dukascopy who is referring the client to them. -->Six Capital.

Considering that forex rebate companies are offering 45% commission rebate on clients who sign up for dukascopy through them, can you imagine how much rebate six capital is getting out of you? at least 50+% of your comission will go to six capital.

trade 14 times a day? Hahaha indeed



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sAVaGEmP5

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Yes i bet 100k that most people who lost do not have a proper monthly PnL right down to the commissions and GST level.

Sorry not to pour water on anyone, I have seem many prop trading, asset mgmt, hedge funds before and the strategies implemented, but I have yet to see a lot of forex hedge fund/prop trading around yet, at least from what I know.

If they are so good, they shld appear on Bloomberg or wsj at least once... I guess.
 

Shiny Things

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Sorry not to pour water on anyone, I have seem many prop trading, asset mgmt, hedge funds before and the strategies implemented, but I have yet to see a lot of forex hedge fund/prop trading around yet, at least from what I know.

So if you've seen "many prop traders, asset managers, and hedge funds", I'm assuming you've heard of FX Concepts? 20-year track record, $13 billion under management, pretty much pure FX? Surely you know them, you're a well-connected guy who's seen lots of strategies implemented.

If they are so good, they shld appear on Bloomberg or wsj at least once... I guess.
(Since you asked: FXC's CEO John Taylor was on Bloomberg TV just last month. And here he is at a Reuters summit two weeks ago arguing that the eurozone will break up.)

Or there's George Soros' $7-billion Quantum fund, which broke the Bank of England with a huge short GBP position back in '92. Or there's the formerly $9-billion Goldman Global Alpha, which blew itself up with a massive AUDJPY carry trade punt back in 2007.

Punting FX (and punting it in size) is bread-and-butter for global macro hedge funds, and they make up a big slice of hedge fund money. But you know that, right? Right?
 

sAVaGEmP5

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Yep so how many under the HFR list, or the General funds, inside got how many percent is pure forex ?

Yep I have seen on Bloomberg TV appearing a few times, only when theres a unexpected breakout. Most of the funds mgmt only allocate like small % of their entire portfolio on pure forex funds, correct me if I am wrong.
 

Forever84

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Yep so how many under the HFR list, or the General funds, inside got how many percent is pure forex ?

Yep I have seen on Bloomberg TV appearing a few times, only when theres a unexpected breakout. Most of the funds mgmt only allocate like small % of their entire portfolio on pure forex funds, correct me if I am wrong.

alot of hedge funds participate in carry trade.
 
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