Hi, Anyone who is a current propex trader or has experience trading with propex? Got into the propex junior trading programme for March in SG. Understand that during training period there is no basic pay. What is the limits you get after you manage to get in and what is the profit share? If anyone knows it, do let me know. Thanks
limits could be imposed via trade size. eg. 1 contract at any one point in time. and then scaled up as you show results x2 repeatedly until the size impacts your psychological limits. a reasonable profit sharing for such a firm, where you risk 100% of their money with no basic pay would be anywhere between 20-40%. seeing that you are joining as a junior, it will probably be towards the low end. it will be up to you to negotiate as your pnl improves each year. your primary concern should be being consistently profitable on the sim. if you take on this job, you should ideally have no liabilities/ obligations for at least the first year. having to worry about profit-share would be a good thing after your 1 year mark. remember that this sort of programmes such as propex's is more of a win for them. first 3 months on sim at home. then 1 month in office totally filters for candidates with some tendency of a successful trader. I don't get this, bcos trading a sim from home individually usually gears an individual towards a discretionary/ swing style. if you become successful, you might as well trade your own small account from home.
From what I've heard, 50% split at first and moves up as your performance increases. (This is for Sydney, might be different for SG) In terms of limits, you start small ( 1 to 3 lots) on live and also increases as your performance increases.