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...
Real Sweet Corn oh man! @$$#^%&#
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.
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 ?
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.
(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)
six capital really sounds bad according to all u ppl here
...
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.
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.
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?)...
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
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.
(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.)If they are so good, they shld appear on Bloomberg or wsj at least once... I guess.
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.