sixcapital?

[cosmothecat]

Hi Boltstorm,

...

Since the people they are targeting are people who don't have the right qualification. Therefore, it is only reasonable to have this measure to protect company interest?

....

Ok, this is the part where the dilemma comes in. If an aspiring trader has already proven track record, with consistent profits ... why would this trader want to join a trading firm then? He can easily multiply his $1000 into $2k, into $4k, into $8k, into $16k, into $32k, into hundreds of thousands in a few years time.

Which means, most aspiring traders who look to join these proprietary trading firms DO NOT have proven track record, and are NOT able to derive consistent profits from their existing trading method(s) ... in that case, why would the company wants to employ these "traders" then?

I can tell you that a trader that trades his own money and a trader that trades the firm's money have a totally different trading mindset and risk management mindset. Those dealers that trade for firms, they dared to average down (a practice known as shading) and to take profit when the market rebound, as the credit line and financing is from company's fund. Thus, the trader does not panic when the tide goes against him. They have "holding power". Stress, yes, Panic ... not so.

But, if you are trading your own money, and to use the same method as above ... more likely than not you will start to panic once you average down a few times, and the trend is still against you. There is a likelihood that you will close your positions and take the loses before they widen further - this prevents the chance and possibility of a profit on a re-bounce.

Take for example, EUR/USD during the last few days ... it crashed to a low, and then re-bounced strongly. For those with holding power trying to time a reversal, even if they got in slightly earlier, they could keep on averaging down and wait for the reversal to happen ... in the end making profits.

 

[Boltstorm]

i think the difference between the cyberquote and sixcapital is how they represent themselves.

sixcapital advertised in the recruit section that they are recruiting trainee prop traders. i personaly find the ad misleading, cos even if u are accepted as a trainee, you have not been offered any job, because in this case the traineeship is not a job in the first place! in all other companies, a trainee is a paid employee of the firm. the ad makes no mention of this and presents itself as a normal job ad for a trainee position like any other company's graduate trainee program. certainly advertising in the exectuive appointments section of recruit will further reinforce this perception.

thus when someone applies for this "job" they are expecting a paid position but when they arrive at the talk, they are actually presented with a different situation.

i'm not an expert in the subject matter, i'm just another guy who was also looking to to be a trader.

whats the content of the cyberquote course?

 

[sAVaGEmP5]

hey common, the course are not cheap. They come at a price of close to 12k if i nv remember wrongly. Its 4 x 3k courses. Seriously, if that head of forex trading guy is so zhai, why do ne need ppl to pour in money for him to teach ? If hes alredy so good, making 50k-500k a day shldnt be too difficult, given that kinda of leverage. (Banks gen abt 5-50m a day ? so whats 50k?)

He shld be managing the fund, the system, the resources, the ppl, the trading operations, n etc etc etc, with his so called pte banker pulling in $ and traders trading for him. Ppl trade his systems, and not pay money to get a shot at learning from him. Take a look at http://www.flowtraders.com/ and u see what is a proper trading job like.

 

[aloha@sg]

whats the content of the cyberquote course?

Sorry can't remember much of the content. I know there are 2 exam you need to take. Think it's something like M1 & M3 or 6A.

Anyway I don't think it's fesible for me. There is target to hit and you have to find your own customer.

It takes time before your commission can sustain your own expense.

Perhaps I should try to contact the guy from Six Capital to understand more on the company function.

 

[Boltstorm]

Sorry can't remember much of the content. I know there are 2 exam you need to take. Think it's something like M1 & M3 or 6A.

Anyway I don't think it's fesible for me. There is target to hit and you have to find your own customer.

It takes time before your commission can sustain your own expense.

Perhaps I should try to contact the guy from Six Capital to understand more on the company function.

what u are describing is not prop trading
prop trading is when u trade on the firm's money to make profit for the firm. there are no customers or own expenses involved

 

[aloha@sg]

what u are describing is not prop trading
prop trading is when u trade on the firm's money to make profit for the firm. there are no customers or own expenses involved

Ic... So do u know of any other prop trading firm beside six capital that don't need to pay for course fees?

 

[sAVaGEmP5]

goldman sachs, jp morgan, morgan stanley ? hedge funds ? market makers ? theres alot alot alot of them. Its whether u are willing to find out these companies operating in sg. Most comes from US wanting to tap into asian markets. Sorry but i only know a handful hehe...

 

[aloha@sg]

goldman sachs, jp morgan, morgan stanley ? hedge funds ? market makers ? theres alot alot alot of them. Its whether u are willing to find out these companies operating in sg. Most comes from US wanting to tap into asian markets. Sorry but i only know a handful hehe...

These company you mention should require minimum qualification. Anyway thanks...

 

[sAVaGEmP5]

well... which company wouldn't tell me ? with ITE, N levels, psle becomes trader handling millions ? The min required with at least your risk mgmt and track records. If u can turn $20k into $50k in 2 years, i dun see why they dun let u handle 200k or more.

 

[shrimp08]

Hi aloha,

I was reading the thread and was thinking maybe i can contribute. Just a quick introduction, i am a equity dealer with 1 of the broking house in singapore. Regarding your question on Proprietaty Trading, generally companies only employ you to trade for them when you have a successful track record. I guess there are also companies who hire and give you some training and let you trade small using their own account. But even that, i guess you would have to show some level of competency before they would hire you.

Hence,in my opinion, you would need to get at least some basic knowledge on trading. There are many education provider in the market that teach people how to trade. You would have to choose carefull because i think many of them are just selling you a false hope. To trade profitably, you would require a lot of discipline and hardwork. So those advert that claim you can spend just x mins of time to earn x amount of money is in my opinion just pure gimmick to lure people to attend their course.

 

[aloha@sg]

Hi aloha,

I was reading the thread and was thinking maybe i can contribute. Just a quick introduction, i am a equity dealer with 1 of the broking house in singapore. Regarding your question on Proprietaty Trading, generally companies only employ you to trade for them when you have a successful track record. I guess there are also companies who hire and give you some training and let you trade small using their own account. But even that, i guess you would have to show some level of competency before they would hire you.

Hence,in my opinion, you would need to get at least some basic knowledge on trading. There are many education provider in the market that teach people how to trade. You would have to choose carefull because i think many of them are just selling you a false hope. To trade profitably, you would require a lot of discipline and hardwork. So those advert that claim you can spend just x mins of time to earn x amount of money is in my opinion just pure gimmick to lure people to attend their course.

Hi shrimp08,

Thanks... your comments definitely sound better than the other guy.

I shall continue with my trade and hope to find a company that find me useful.

 

[shrimp08]

Hi aloha,

SGX has various training courses. The trainers are specially selected and are themselves professional traders. You might want to see which courses are of interest to you at: http://www.sgxacademy.com/. I would also like to add that the pricing is very reasonable.

I think sgx academy would be a good place to start to learn how to trade and explore opportunities on being a professional trader. It would save you lots of money, time and effort as opposed to trying things out on your own without a good foundation.


I wish you best of luck!

 

[Yorixz]

Attend courses is simply not enough. We got to learn trading through experiences and hardwark..We could have used the course fees to as seed funds to trade for a profit.

 

[sAVaGEmP5]

Hi shrimp08,

Thanks... your comments definitely sound better than the other guy.

I shall continue with my trade and hope to find a company that find me useful.

Face the reality, you still need a long way before someone will decide to hire you. And if you suck after 3 months without producing profits, you're out.

 

[sAVaGEmP5]

Sorry not to pour water but my humble 1 year trading experience.

A) If human decisions are made based on charts, why cannot computers do faster/better ?
B) I don't see turnover rates. I see failure rates. They'll train you only if you are already good. - mba, cfa, quant, etc...
3) Starting capital doesn't mean anything. Some hedge funds get double digit growth, some negative. Its the overall strategy, being disciplined with a wrong trading strategy is still a lost.

 

[sAVaGEmP5]

hmm but the direction of markets are based on news and events that haven't happened, or going to happen in the future. Thats called EMH.

Unless u can predict the future, u can't predict the market's direction. The market are a random movement... a flip of a coin...

Computers will definitely not surpass humans, becos its human who designed the computers.

Btw the volume on NYSE and NASD, as of this very age of tech, are largely 60%-90% computer trading. Probably less than 30% volume are done by humans. The trades run at 300-5000 per second, depending low/mid/high frequency. That includes forex. Not sure about our local SGX markets.

maybe you are right, maybe im wrong. We'll just stick to what we believe in.

 

[8passion]

Six Capital in BIG QUESTION...?

I attended their recent so call career briefing n was told to pay up
SIN $3,500 within 7 days to get the job as a FX Spot trader if you meet
their KPI.

Why 7 days because cooling off period under the Sale ACTS...? haha

The Course Fee form, best of all is wrong address in Battery Road
and Without Telephone hor...why ???

Stated clearly no partial or full refund upon selected.

How come a job become a payment?

Funny Right...

Questions:

Why gave out a training course fee of SIN $3,500 only upon completion
and among the top trade then u will be selected to be hired...
So that you will never be hired.

Course fee earned and Thank you to you lor...

Ask further who is hired and their salary is about...

Ans: Oh you should worry about yourself n focus on your own do not even
think of the near future and the development of the company is how
you trade will be your salary...???

How many is hired after completion of the couses?

Ans: Oh the there is this lady join into the programme make about 1000 pips last month u know
count the money she had make and the KPI is possible u know.

Indirectly did not answer again? Seem to me No one is hired lor...

Mind u the Hiring is sort of impossible becos is almost everyday u
make money from trading FX and 90% right very time u enter the trade.
Try to be God? Who can... So

He mention about his history working in the Banking sectors such as...this big bank here n there and he knows who n who...

Try Google on it found nothing....why la that...

if all the Big names mention by him then nothing why ?...

This is for me to know and for you to find out to reply me...

Btw i saw real trading office before and i did not find any monitors that is closed to trading

such as Bloomberg platform or trading software. Such as IB, TT, GL why is they use others maybe got rebates

for every trade done...Market practicc keke...

A Trader trade and a teacher teach so do you want to be taught a lesson or learn to trade.


Thank you.

 

[sAVaGEmP5]

No need to ask so many why. Hes already pitching you. You are his forex market lol.

Using Straits Times Executive Ad space to promote his education trading course. Its only sooner or later nia.

 

[bluearrow88]

Six Capital

I have attended the seminar and I am keen to join the course. Have anyone completed his course could give me some information?
1) I want to know, is this a good course that teach you in detail?
2) After this course which you pay $3500, did they mention there are more
course and you have to pay more?
3) Are you able to trade confidently after his course?
4) What is your overall view of the course?

thank
Bluearrow88

 

[salvat0re]

I have attended the seminar and I am keen to join the course. Have anyone completed his course could give me some information?
1) I want to know, is this a good course that teach you in detail?
2) After this course which you pay $3500, did they mention there are more
course and you have to pay more?
3) Are you able to trade confidently after his course?
4) What is your overall view of the course?

thank
Bluearrow88

Wat makes u keen to attend?