No, the model would not necessarily work overnight (in the case that the fund changes it's weightings in it's underlying holdings) It works well intraday, especially if you see lots of selling in the ETF, like, if one broker keeps consistently selling 500/1000 share lots at a given price range and the market depth of the bid keeps flopping around..usually easy to find a bottom/oversold condition. The only problem is you have to watch carefully because the inneficiency is usually removed quite quickly, but for example, I could pull $.40 out of a $3.52 buy in one day if I caught it when someone really wanted out. (MLY.TO)
From what you're telling us it seems your model is far more advanced than the complex and sophisticated strategies you'll find at swift...'if it goes 3 cents against you get out'. I'm sure you can find a decent platform to link to your excel and other programs and keep 100% of the profits, just let the account grow, don't waste your time with a bucket shop like swift.
That's pretty standard interview question for any kind of job. I suggestion you to think hard and come up with a "good" answer. If not for yourself, then for your "job".
They want you to pay $500 to sit on a simulator? It would be funny if there weren't so many young and aspiring traders who fall for these scams. So to make 35k yr, you need to take a 50k account to 150K. Of all of the horrible deals I have ever heard of...this might be the worst.
if you could afford to pay deposit, there are a few less-known prop firms running in toronto which offer higher profit split ratio, e.g. 80% or higher, but at a higher commission rate, e.g. 0.5-1.5/1000 shrs. as far as i heard, they require minimum $2000 deposit to cover your possible loss.
It concerns me that you want to go work for this type of firm, yet state that you cannot afford to go without compensation for even one month. I think it is critical that you have some form of backup plan and some form of financial cushion or supplementary income, this would hold true for any sort of job that is entirely performance based. I certainly respect your desire to pursue your interest in the financial markets, now you also need a plan to make that happen, which could take months/years to pull together.
I see myself gaining lots of experience from working in an environment like this, a generic question deserves a generic answer.
"...Don't say doing his wife.....Don't say doing his wife..." Once I saw that episode of Family guy I would have never expected that question to come up anywhere..lol.