i wanna hear from everyone presently or previously employed there. how much do you guys average a month? Im thinking about working for them and i want some feed back
Average Swiftrader? That depends on how you define average. It can be said that the "average Swiftrader" doesn't make it at all, since most new recruits - or "student traders" - don't end up becoming "hired-on traders" and end up either leaving of their own accord or get thrown out the door a few months down the road. If you go in to Swift as a new "student trader", thinking that you ain't gonna be one of those that doesn't make the cut, then congratulations, you are just like every single new recruit that makes it into Swift's so-called advanced training program. I'm not saying you won't make it, and it is certainly good to have confidence. It's good to walk in there feeling like you are not going to be better than any of the well-established traders there, nor the worst out of them, but just one of the "average" guys, but just remember that the skills that help you to become successful in the world outside of the markets aren't necessary the same skills needed to be successful in the markets, and can sometimes even be detrimental to your success as a trader. Which is probably why most of the newbies who get in there but don't make it are actually the true "average" Swiftraders. How much you can make at Swift is simple: 35% of your gross P/L, on the first $10,000 in a month; 40% on the next $10,000 ($10K - $20K); 45% on the next $10,000 ($20K to $30K); and 50% on any amount over $30K. Unless, of course, you are from one of the third world countries in which they have set up shop, in which case you will only be making 10% of any amount you gross. These figures are, of course, before charting, seat rental, and platform licensing fees that will be deducted out of whatever you net after Swift takes its cut. You don't get paid until the end of the following month. How much you are able to gross depends on your ability to exploit - in any given market condition - the way Swift likes their traders (at least their new traders) to trade, which is high-volume ECN rebate shopping on stocks that rarely trend. How much you are able to gross in any given day or month also depends on how well your edge is able to extract profitable trades in any given market condition, which change from day-to-day: it will work better in some market conditions more than in others. That is, if you develop an edge in the first place. So, if you're really itching to go trade there, then why not give it a shot? - The best you can do is make it as a "hired-on trader". The worst you could do is get thrown out at the end of 6 months. Enjoy your time there and use it as an educational experience in trading (i.e.: study on your own and try to develop an edge using their capital); and, use it as an educational experience in the way some companies do business and treat their "employees". Good luck!
If you are looking to be average, you will be a loser. A real man would ask what the best makes so he can beat it.
wiat swift only gives 35% OF THE FIRST 10L PROFIT?so if a trader amkes 10k profit per month he only makes $3500. so the p@l is after all commisons? whjat commisons does swift charge? thats a terrible deal
there are so per share commissions, however we are charged 20 cents per trade for execution which I guess you could call commissions...... mnx
Yes... of first $10 000 you take 35%, comission is 20 cents per trade + 7.75 cents/1000 shares.... Right now there is a new structure where, once you make $120 000 for the firm your payout starts at 40%, and then I think after half a million you start at 45% and a million you start at 50%...lol... which is bull, 'cause how many ppl will stick to Swift for that long?!
haha we posted at the same time... must be because the execution server is down. hahahahahahahah that's funny.. server goes down, traders waste time on ET... hahahah mnx
wait 20 cents pert trade plus 7.75 cents/1000 shares. so do you eman if you trade 1000 shares its $7.75 cents plus 20 cents or 20 cents plus 7.75 cents which is 27.75 cent? is swift trading out of canada?
i hear a lot of people bashing them and most of it is directed at trading your own capital. i could care less if they take large amounts of money off the top right now cause im going to university so my own capital is non existent. all i wanna know is wether or not anyone is making good money with their system?? mnx how much do you usually take home for yourself per month with them?