i am trading there. the neighbourhood around our office is not so good, the office inside is not bad. the manager here is such a nice guy, he gave me some valuable education on trading psychology and achieving goals. hope that helps
are you suggesting a Canadian worker should get the same pay as someone working out of New York, London, or Tokoyo?
there is someone who knows. I met a guy working at an overseas breanch who said they were paid on volume.....millions of shares per day apparently. Do any of the traders make any money doing that? how much are the top traders making there? how about the average joe? what is the cut 35-50%? thanks just curious. Dan
hi there, i am looking for some advice. i recently started working for a swifttrade office but i am still in training. i am in my third month now and things are going good so far. hopefully i will graduate this month. anyway, the thing i want to ask is i have been offered a position to go and work for an investment bank. what's it like really working fro swifttrade working as a trader. i mean what kind of money can you really earn? they tell me here that i should be able to get to 10k a day within a year but how feasible is that? how many people actually make that? i know they put up the numbers everyday and you see that some guy made 30k a day but is that really possible? i am interested in what you guys think.
Yes, everyone in this business makes 10k-30k per day. Did they also tell you that their software is a joke, their data connections are always going down, and most traders will leave for better firms after they become profitable. Other than that, I guess they're o.k.
it's possible but not likely... only the top 5-10 in the company can pull in those kinds of #'s... and that's out of well over 1000 traders... you have to ask yourself, can I be in the top 1%????? mnx
To make the kind of money at swift is definatly possible and unlikely like mnx said. Having said that, it takes a certain type of trading to make that kind of dough in my opinion. Im assuming they have taught you to scalp nyse stocks or credit trade, and thats definatly not the best way to make 10k a day. (although i know some people do very well on the siri's of the world) You will need to experiment upon graduation and look for oppourtunity the average guy isnt looking for. And more than that, when you find it you have to be a gunslinger. You dont make 10k a day without having at least the chance of losing 10k+ a day. Thats in my opinion the hardest thing. If your always experimenting it can get frustrating getting smashed constantly while others continue their 20k a day pace.
Hey about swift´s commision structure in third world countries... They do pay lower commisions when trading offshore... but think about it, is pure economics they have a monopoly on prop trading firms on many of this countries. Once they start making too much money long term equilibrium states that more firms will enter into those markets, paying better fees to hire all of the people trained by swift {they make you sign a contract stating that you wont trade for 2 years after leaving swift but that´s imposible to enforce in kangaroo courts like the ones we have around here}, so in the long run what you´ll get is a boom in overseas trading as more firms start taking advantage of the decreasingly large margins {as stated in the decreasing marginal utilities law}... over the next 20 years or so... today´s china reminds me a lot of 1950´s Japan... I´m currently a manager at a swift branch, got promoted from trader about a month ago. One of my biggest challenges is coming up with ways to get the best traders to stay and teach others to do what they do as competition arives in the near future.