I don't trade nor invest in Chinese stock markets, I am a futures/options player targeting Asian exchanges.
Not true. There are other prop firms in your city. The business model of the other prop firms is different. You have to put up the deposit and they provide you the leverage. You can get close to 100% of the profit, but you have to take the risk of losing all your deposit. In swiftrade, you don't have any risk. Your investment is your time and your effort. You don't have the risk of losing any real money. time and effort is usually cheap in China. So I will consider swifttrade is a better deal for you. I planned to start a prop firm in China last year but decided not to. The risk of running a prop firm using my capital is too high. The reward is not high enough to justify my investment. Remember the prop owner risks his money and spends a lot of time to train the trainees before the traders can make money for him. Once you become a good trader, you might leave the firm and the owner might not earn back his investment. Most prop firm owners in China are losing money. The HK branch closed business several years ago, and there is no prop firm in HK. Why? The reason is clear. It is hard for the prop owner to make money in Asia.
The rules and regulations of the financial systems are different. Most prop firms get the leverage from their clearing firms. In China, a BD is unable to get any leverage to trade Chinese stocks. That means, if I give you 1 millions of buying power to trade Chinese stocks, I have to put 1 millions in the clearing firm.
That's a blatant lie! Do you know how many seconds in a trading day? If you take your late night "lunch" break away, how many seconds do you have? If you trade "7000 times a day," do you know how many seconds you spend on each trade? After you do your ariths, let me ask you: is that possible? If your answer is no, let me ask you: are you lying? I bet your answer is yes.
It's not a lie... when I was with swift I did over 6000 trades in one day... (I frequently did over 3000 trades) Not all of them were manual trades but a very large portion of them were. yes I was exhausted at the end of the day. - mnx
actually, hows the latency from beijing/shanghai to NYC like? thinking of heading there for a while maybe... currently trading from london, and i get like 80ms latency for island, which is fine...... can you scalp there at all, or just more like position trading?