I have observed that the BMs dont raise the BP even if one is consistent for 7 days. I think it all depends on whether they want to take the risk cause they take the losses. So, if the BM is from a non-trading background, chances are that your BP is just the $ 9900, using which it is impossible to make $ 2000 to graduate. They do not have separate criteria for professional traders, especially when they are playing safe. I'm not complaining but, I hope you get the point. You guys have it good.
Can anyone help confirm expenses for ES trading ? I checked it and it seems like Swift does it for $ 1.08 RT. Is that true ? Thats an astounding rate and one that I can die for m
Thanks a lot. You made my day, night here actually. Let me put things clearly in perspective. Here in Asia, we start as student on simulation. Then it is live with 9900 BP, which as a trader I know is impossible to reach $ 2000 net. To add to this prob, the BMs are co-operative but do not have the experience to allow for more BP even to those who've proven 2 weeks of no loss days. I have 9 yrs stock mkt experience including 6 yrs of intense futures trading. Despite this, i have to start on simulation ! now you know what ego-busting means. but day trading is impossible here since the mkts are not that mature. it is frustrating but on the positive side, at least US mkt prop trading has started. Im ready to put my own money say $ 4000. Can that buy me a couple of ES contracts BP at least ?? Should I put down this proposal to my BM ? Thanks m
you wont believe it madmunny, where i trade, the best rate for the equivalent volume we get is $ 35 (for pros) and $ 65 (for retail clients) compared to the $ 1.08 u pay ! Its impossible to day trade. Swing or position is mebbe a bitty possible at best. i just cant wait to get my hands on ES with swift even with 10 % or 35 %. Beggars cant be choosers m
just one more question.. i see ESZ6 is ES. What is the 4 character symbol for NQ ? thanks in advance, in gratitude m
I'm not trying to be a jerk here, nor do I know how the SwiftTrade in Hong Kong gives out BP. NQZ6, in some systems, it can be ENZ6. With 6 years of intense futures trading, shouldn't it be obvious what the symbol should be? H M U Z is really basic stuffs. I don't understand how can the HK branch make any money if each trader can only use $9900BP. No trainee could become a trader, not enough for the company to pay rent, connections, etc. Peter Beck knows this industry well to know that $9900BP is almost impossible to make $2k without holding overnight. I'm an ex-Swift trader, and last year, I happened to have an one hour conversation with Peter Beck when we got stuck at the airport on our way to NYC (I ran into him, we were not together). Based on what he told me, the Asia branches are doing pretty well, better than the North American branches. You can take your $4k and put it in Interactive Brokers in Hong Kong, problem solved.
I have zero experience in trading US markets (except some kinda simulation for 1 week at ES), rather anything to do with H M U or Z. was Asian futures 6 yrs. Thanks for the information you provided though. Regards m