Traders?

[silversurfer2012]

For the younger generation, market speculation/contra trading is the name of the game. For the older generation, capital appreciation, protection and dividend yields are their top priority. PM me if interest. But im more of a speculator hehe..

 

I offer lower rates if there is trading volume or frequency.

PM me if interest. But im more of a speculator hehe..

[kmax]

the problem is i am from engineering background, wat are my chances then

 

recently met a trader from local house.. engineering grad too.

 

local trading houses are more relax compared to big boys. you can try.

 

kim eng

lim and tan

am fraser

dmg

cimb

uob kayhian

[CMYRS]

my boss has specialised engineering qualification before he entered trading but this was nearly 20 years ago.

[Icomeforyou]

Good day all, can I seek your opinions? I have a diploma in Business IT, and am not considering degree due to financial concerns.

 

When I graduate soon in 2-3 months, I have considered entering the financial world, and seeing some of you are traders, remisiers, would like to enquire several matters.

 

1) The structure of remuneration is it basic + commission? Or purely commission based?

2) I remember reading a certificate is needed before one is allowed to trade, is that corporate sponsored or roughly how much will it costs?

3) Income is definitely on commission, is it based upon only profits? Or profits and losses, and if it takes activity to earn income, wouldn't that not be in the best interest of the customer?

 

Sorry for my naive questions, but am exploring all paths. Thank you for your time in advance

[econbizer]

Good day all, can I seek your opinions? I have a diploma in Business IT, and am not considering degree due to financial concerns.

 

When I graduate soon in 2-3 months, I have considered entering the financial world, and seeing some of you are traders, remisiers, would like to enquire several matters.

 

1) The structure of remuneration is it basic + commission? Or purely commission based?

2) I remember reading a certificate is needed before one is allowed to trade, is that corporate sponsored or roughly how much will it costs?

3) Income is definitely on commission, is it based upon only profits? Or profits and losses, and if it takes activity to earn income, wouldn't that not be in the best interest of the customer?

 

Sorry for my naive questions, but am exploring all paths. Thank you for your time in advance

 

 

Hi.. I found out some of the answers you seek.

 

For proprietary traders

- pay is usually low basic + commission (after netting the extremely high costs)

- certification only needed for the big companies.. i.e. investment banks, brokerages.

small chapalang coys don't give sh*t as long as you can rake in the $

- you answer for your own profit & loss. no clients involved.

 

For remisers

- pay is purely commission

- remisers are self-employed, pay sgd30k to use facilities at a brokerage, as opposed to 'dealers' who are employees of the brokerage. Both do the same thing.. earn commissions from clients who buy & sell stocks.

- for your last qn, it is in the interest of the brokerage/ dealer/ remiser to earn commissions. More trades = higher commission. Whether the client makes or loses is not their primary concern.

 

Both jobs are very very different. I can tell you that most traders in IBs/ small prop coys do scalping. Very few take open positions to bet on mkt movement. In short, extremely different from retail investors/ chapalang investors.

 

It is very hard to be a trader/ find this job. It requires a unique set of traits. The good news is that small coys don't require degrees. Anybody with these traits can perform this role.

 

Home Traders

- These folks use technical indicators to base their trade decisions. In essence, it's a psychological game, of following the mkt and an internal mind battle against oneself. When you use tech analysis (TA), you believe that investor psychology impacts price action.

- Trading commission is a primary cost concern.

- I haven't heard of a successful full-time home trader so far. Anyone is one? I chiar kopi we chit chat.

 

 

 

Good luck in finding such a 'trader' job. Got lobang please share =) I have these traits.

- must believe that you will succeed

- must be very disciplined

- can master your emotions

- have an almost complete disregard for money

- must be able to take losses without thinking

- must be able to think fast

- must be able to click fast

Edited March 18, 2011 by econbizer
add "home traders"

[NRI]

A trader life seems complicated leh ...

[saint84]

Very job has it owns stress level...

[CMYRS]

Good day all, can I seek your opinions? I have a diploma in Business IT, and am not considering degree due to financial concerns.

 

When I graduate soon in 2-3 months, I have considered entering the financial world, and seeing some of you are traders, remisiers, would like to enquire several matters.

 

1) The structure of remuneration is it basic + commission? Or purely commission based?

 

Generally, Basic+comm., the comm is calculated using a formula, basis either your involvement in the trades plus a multiplication of your salary and costs and other reumuneration benefits.

 

2) I remember reading a certificate is needed before one is allowed to trade, is that corporate sponsored or roughly how much will it costs?

 

Yes, depending on the financial instrucments involved. Costs not substantial, low 4 figures at max.

 

3) Income is definitely on commission, is it based upon only profits? Or profits and losses, and if it takes activity to earn income, wouldn't that not be in the best interest of the customer?

 

Well, if there is a comm. based job solely on profits, please let me know

 

 

Sorry for my naive questions, but am exploring all paths. Thank you for your time in advance

 

Answer above.

[potong_pasirian]

Are proprietary traders the same as Commodities Traders (traders who trade in Oil, Silver, etc..)? Also, is it true that Commodities Traders usually earn more than Forex Traders as most people know how to trade Forex on their own and do not need the services of a trader?

[Throttle]

Are proprietary traders the same as Commodities Traders (traders who trade in Oil, Silver, etc..)? Also, is it true that Commodities Traders usually earn more than Forex Traders as most people know how to trade Forex on their own and do not need the services of a trader?

 

Throttle *slaps forehead* ...........

[CMYRS]

Are proprietary traders the same as Commodities Traders (traders who trade in Oil, Silver, etc..)?

 

Yes & No.

 

Also, is it true that Commodities Traders usually earn more than Forex Traders as most people know how to trade Forex on their own and do not need the services of a trader?

 

Generally yes.