can you guys lighten me up on this issue? I am a successful trader, who has been trading the stock market over 10 years and has averaged above 50% in the last three. If I had an extra $100k, am I better off trading it myself or go to china openning a Swiftrade branch? Thanx in advance.
im in canada and thinking of applying to swift trade. I've been trying to break into the stock market business for a while but havn't been sucessful. Now I was wondering if there are any traders here who joined the swift trade and became sucessful trader. I dont have a problem not making a dime for 2-3 months. All Im after is if their system could help me become a sucessful trader Also if someone could give me some insight about their trading, it would be greatly appreciated. Thanx in advance
oki doki:> i'm working at ST atm, can't say smth bad yet.Maybe it's cuz i'm looking at them as my first step in trading.Just want to get some exp.
people. all these topic and discussion about swift you might make it you might not and from all the bashing on this froum about swift most of the people that hates swift knows alot about swifttrade. which means most likly these people were once in swifttrade before and werent sucessful or didnt get along with the branch manager there is nothing wrong with Swift... they offer a deal you take it then its all good. but dont bitch after u fail then trun around and try to tell poeple traders at swfitrade arent real traders? why do anyone want to be a trader?. short working hour and good pay .. i rather be a Swiftrader that makes money and in some cases REALLY good money from what i heard then a person who calls them self a Trader and calles others trading monkey but cant make a dime. basically Swift has many branches, the person who is running it is important. ask them what kind of deal they give, fully understand it . if u think its a good deal then accept it but dont bitch after 3 month because u fail. where else r u going to find a company to give a person with no experience a trading job with No captial down ?
Please get your facts straight before you post. The traders in China and other developing nations DO NOT PAY for entitlements and charting. The branch manager picks up most or all of those fees. I have a friend who I used to trade with in one of the Swift Trade offices who went back to China to start up a branch. I visited there last month for 3 weeks and traded on my own account over their internet (which is painfully slow in China) connection through my own brokerage daytrading account. The traders seem to be happy with the 10% payout as they make more money than most of the people they know and their families. I might have agreed at one point that people all over the world doing the same job should get paid the same amount but that isn't right when you have a chance to visit these countries. EVERYTHING IS CHEAPER over there. Cost of living is about one fifth to one eighth of what it is here in North America PLUS no income taxes that anyone really pays. I'd live there if I looked Asian! (They treat you like differently I noticed if you don't look Asian). just my 2 cents worth
If you have an extra 100K, trade it yourself. If you open a branch you're no longer a trader but a businessman/woman. That isn't the lifestyle I'd want to have...
I don't want to sit here and argue about the pros and cons of swift, (I would be far from an expert on the subject) but the fact that someone would give away so much of their profits (more than 50%) with no base salary and an expectation of having to pay desk and other fees strikes me as horribly odd. Is there nowhere else to go that pays at least half of what you make? What a great little money maker someone has set up. Correct me if I am wrong, but it seems like staff training and retention wouldn't be top priorities. Anyway It's all good. I must say that I am originally from Canada but never heard much of them!
Madmunny, This is not related directly to swift. I'm curious if you know what additional delay is regarding speed trading from China. Do you know they (branch offices) use ADSL or somethingelse? Thanks.
I have no clue as to what kind of internet connection they would have......but with some of the numbers a few of the China branches are puttin up i am guessing they must have pretty good high speed internet cause they are rackin up huge numbers and with any sort of major delay in the quotes those kind of numbers probably wouldnt be as achieveable......but again...that is just my assumption...i really have no idea how fast of a connection they use in China.