Okay, thanks for clarifying that. So how many SJ traders are there now, and would they all be transferred to the Pasig branch? TIA.
Jim, is the branch ran by americans? just curious. I inquired about franchising swifty before and bringing it back here to the Phils but I didnt think it'd be that profitable. Not that I'm interested anymore about franchising it but just out of curiosity.
My last nagging question about ST here is, how can you graduate by making $2K gross in a month if your BP to start with is just $10K, divided into 100 share lots? BTW, I've also read some interesting stuff about ST here in Asia in this thread: http://www.elitetrader.com/vb/showthread.php?s=&threadid=68480&perpage=6&pagenumber=1
When dad lived in the Philippines he worked from some cafe in Balibago (perimeter fence, Clarke's). There were a number of Americans trading there and they had a dual connection - one through satelite, the other through PLDT. Unfortunately the guy running the internet show was murdered(Steve Davies) and I do not know what happened afterwards. You may want to check it out. Maria
well i think that just stopped the whole thread with that comment. dont know the circumstances but im un surprised. but it seems fairly obvious to everybody whose made a contribution to the whole ' trading in the philippines thread '. there seems to be an opportunity to set up two possible outfits. one with experienced traders to offset the costs and just generally bounce ideas off each other. the other one with some sort of graduate exploitation shop whereby you skim off their profits and round trips. the question is where, who, with etc etc etc. certainly facilities management and providing capital would require a lot more investment. you would probably over run with well qualified staff especially if you can pick up some quant experienced staff.
first of all I'm a Trader at Swifttrade Sanjuan. just registered today in elite. i Have been at san juan since april last year. i graduated august last year. its not 2k gross its 2k net to graduate. last year was even harder because if your net profit goes above 2k and goes back below by the end of the month you are no longer a grad now all you need is to touh that 2k net and you are already a grad. the 10k bp is just the starting bp it is up to the manager to increase your bp to increase your no. of share. if he sees you can handle and manage more share then why not. the maximum shares allowed for a trainee is 2k shares i started with a 100. our office now has tighter rules for the trainees because accumalated trainees can lose 500- 1k for the office and not all trainees usually get day trading. btw jim, how are you doing ? well san juan is not closing. and we really are doing good this month.
$1.4k is 20% of 7k and made it in feb 2007 its not that easy just becasue stocks were bullish it doesn't mean that stock would simply just go up the whole day. its like riding a bull that would buck up up and down to shake you off till you close your position. was down 5k for the next 3 months but now back to the green at present we have 4 traders and 3 trainees but we are not getting new trainees as of now.
jmo8433, What kind of internet connection do you use in your office? Could you also comment on its cost and reliability? Thanks in advance.