si hoc legere scis nimium eruditionis habes
- Joined Apr 2009 | Status: Live and learn. | 21,864 Posts | Online Now
"If The Fool persists in his Folly he will become wise." - William Blake
Useful video about prop trading as a career, psychology etc 0 replies
What are the benefits or career from being successful trader? 7 replies
Merc's special Fibonacci trading,in combo w/QQE Gann etc.etc. 7 replies
Banks and hedge funds.. operation. 0 replies
DislikedIf you are successful in FX and self employed then why would you bother working for a bank or employer!!!!!!!Ignored
Disliked"Traders" in banks make most of their money from market making and commissions.Ignored
Disliked{quote} I admit I don't know much about these professional traders that work for the banks, but ow is it traders make money in "commissions"? I thought they were hired to trade?Ignored
Disliked{quote} the main job is too facilitate large orders, smaller ones are done via ECNs. when there is say 100mil needing trading in EURUSD, a trader at a bank will have inventory which he will use to allow the client to trade 100 mil, in return he gets the spread (maybe 1 pip). When FX traders at banks want to speculate they skew their inventory to have exposure one way or another. So say the trader is the EURUSD trader for the bank, he may hold for example 1 billion USD worth of EUR and 1 billion USD. Here he has no exposure and goes about his facilitating...Ignored
Disliked{quote}The Volcker Rule attempts to curb this greatly so it should be a dying trade *excuse the pun*.Ignored
Disliked{quote} the main job is too facilitate large orders, smaller ones are done via ECNs. when there is say 100mil needing trading in EURUSD, a trader at a bank will have inventory which he will use to allow the client to trade 100 mil, in return he gets the spread (maybe 1 pip). When FX traders at banks want to speculate they skew their inventory to have exposure one way or another. So say the trader is the EURUSD trader for the bank, he may hold for example 1 billion USD worth of EUR and 1 billion USD. Here he has no exposure and goes about his facilitating...Ignored
Disliked{quote} That's right. If Toyota wants to do an international deal and needs 100 million USD where do you think they get it from? They go to the big banks and the big banks say "Sure, it will cost you this to trade 100 million". They take 100 million and then want to offload it to the market as quickly as possible to minimize their exposure. So then they go to the market and say "Sale on now! USD CHEAP CHEAP!" and offload it. The idea of course is they take their fees (spreads) on both sides and hopefully if the market hasn't moved much they make...Ignored
Disliked{quote} btw these days top banks electronic platforms quote upto 200 million $ size so it is not for just small trades anymore. manual traders handle bigger trades which happen may be on average couple times a week.Ignored
Disliked{quote} and where? trust me, major ECNs don't have 200 mil at tight spreads. Above 50mil you will most likely trade via voice or chat.Ignored
DislikedHi all, I have the following issue which I have raised before a couple of years back. Basically, there are no jobs for successful FX retail traders, it seems you cannot pursue this line of activity if you would like to do this for a living as part of an institution. I don't know how traders in banks got there and what their exact activities are but I invite you to prove me different. this is the question: can you turn FX trading into a career starting from a retail FX trader. I am telling you, I have written to prop trading firms, brokers and all...Ignored
DislikedWhat about boredom? Trading for banks, prop firms, etc. you are surrounded by people, socializing, exchanging ideas, killing time... You can always trade for them and for yourself with your mobile phone..Ignored
Disliked{quote} boredom? You think you will be less bored just because you are trading with a bunch of people in a room? LOL Listen, trading itself IS boring, no matter how you do it where you do it and with how many people you are doing it. It takes a lot of concentration, constantly analyzing new information, calculating new statistics and data. We are not doing anything different from what those "professional" traders are doing in those "institutions". If you don't like it, maybe you shouldn't be a trader in the first place.Ignored
Disliked{quote} are you this worked up about that other prop thread to where you zombied this two year old thread? {image}Ignored
Disliked{quote} I just came across this thread somehow and saw the first post and thought I respond to it. WHY? Do you actually care that much about when a thread is started? A thread is a thread. Is it somehow against some kind of law to reply to a thread that was started over a certain time limit ago? LOLIgnored
Disliked{quote} yeah.. when the last reply is over two years old, the thread is irrelevant. and the equivalent of beating a dead horse. Personally I think that if you would like to keeping talking about retailers wanting to turn professional/funded then perhaps its time for you create a thread.Ignored