I was wondering if there are any active day traders of the US market in Sydney, Australia? What is it like? Any experiences would be interesting.
Assuming that you are from London (and please advise if the assumption is wrong), why did you narrow your focus to just one city on the east coast?
Yes, I live in London, but my brother lives in Sydney and is always telling me I should come down there for a while. He's not a trader, but I was wondering what it would be like to trade from there for a while.
Sydney is an ideal location for trading the European market. Traded till a bit after midnight then spend the day at the beach! The US market is the graveyard shift during daylight saving. Finish trading early in the morning when the rest of the population are going to work. Sydney has quite a few dealing desks, particularly currency traders with the big banks that do the night shift. If you've got the money, Sydney is a nice lifestyle. Runningbear
Do they have any prop firms in Sydney? Or would you have to trade your own account? Is Sydney expensive then if you don't have much money? Many jobs in financial services? Easy to find places to live etc...
As far as prop shops go: Mac, TransMarket (B1) and LQUAY. They deal pretty much with listed F+O. As far as lifestyle and others, not too sure as I just got here myself. Work visa is a SOB to get. Very tough...don't know why? G. Running Bear: do you trade for one of the above?
Thanks. Are these proper prop or more arcades? I consider a proper prop deal to be salary plus bonus with no trading of your own money vs arcade which is % of profits plus your own money involved. Does anyone have any details on the firms listed above from Sydney?
The hours are pretty tough if you're trading the US market (currently 1:30 AM to 8:00 AM) but it's not too bad if you make some adjustments. Hong Kong futures are good to trade during the day. Places to live should be easy to find. Not sure what you think would be expensive but definitely a lot cheaper than central London
I'm looking for somebody that lives in Australia to do me a favor. PM me for details. It's nothing illegal so don't worry about that.
Cost of living in Sydney is certainly less than London. Renting a two bedroom flat will set you back a minimum of about AUD 350 per week in nice (ie close to harbour or beaches) areas. More for a good one. In general rents in Australia are reasonable. Probably due to so called 'negative gearing' tax benefits on investment properties. Buying a property in Sydney is another story. Prices are probably not far off London prices. Petrol is less than half UK price. Public transport and taxis, food, eating out, etc etc are in general cheaper. As somebody else remarked work visas are not easy to get. Several years ago I worked for a large Japanese company in Sydney. It took more than 6 months to have a staff member transferred from Singapore to my group in Sydney due to visa delays in what should have been the most routine of visa applications.