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  • #576,021
  • Dec 17, 2011 12:55am Dec 17, 2011 12:55am
Why some traders here are expecting a gap up for Euro/USD. Does any one kows why the euro bounced to almost 1.3048 during the last hour in the US markets?
  • #576,022
  • Dec 17, 2011 12:55am Dec 17, 2011 12:55am
Quoting DasPips
"Gaps" don't exist.


We are at 1.31857 right now.

What do u mean by "We are at 1.31857 right now"?
  • #576,023
  • Dec 17, 2011 1:08am Dec 17, 2011 1:08am
i learned long ago to, close positions on Friday and expect nothing on Monday.
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  • #576,024
  • Dec 17, 2011 1:10am Dec 17, 2011 1:10am
Quoting Gamaa
Why some traders here are expecting a gap up for Euro/USD. Does any one kows why the euro bounced to almost 1.3048 during the last hour in the US markets?
Do you have any specific reason why it shouldn't?
  • #576,025
  • Edited 1:30am Dec 17, 2011 1:13am | Edited 1:30am
Quoting Gamaa
Why some traders here are expecting a gap up for Euro/USD. Does any one kows why the euro bounced to almost 1.3048 during the last hour in the US markets?
May be due to this , fly to be burnt out .
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #576,026
  • Dec 17, 2011 1:20am Dec 17, 2011 1:20am
Quoting Pip Newbie
Last month I went on an interview for a similar opening.
They said training is required before they can make a final job offer. The training though was for free, but as it turned out, the opening was a sham to simply attract the unexperienced.
Half way through the training course, the trainers started making hints on how its much better to trade on your own and make money for yourself rather than for the company.
By the end of the training course, we were bombarded with marketing stunts, and flat out requests for us to open our own accounts (with...
yeah, that could be just a scam to induce people open an account with them.. it is more likely they wanted to give an inexperience person some basic idea for trade during their trading and then ask them open an account...

Quoting fontu
Apparently from an scam artist if only in contact online to them . 2 hours drive is nothing , simply check them physically to verify if exists, location , licences & other records . not believe any anything virtual .
fontu .
i see.. actually, they were asking me go to Montreal take the interview at their office but i asked them if i could take a phone interview instead of going there, lol....

but i undersatand what do you mean. i will ask my friend live in there to help me take a look next week. I think i should also try to call financial investigator or some regulator to check if that's a trustful company, but i am still cannot understand i need to pay for training and they offer such a high % of profits


Quoting the redlion
sounds fishy. my experience with a hedge fund was different

the process usually is, they would give you a course, after you are approved, first they want to know how good you are.

100k demo through their terminal
then after 6 months of statistics they run through your demo, of draw down, ROI, Risk assesment, etc.

if you are good enough, then here in the US you have to apply for a permit through the regulatory body.

they start you off with 100k and you keep 15% of profits, they will fire you if you are not consistent. they are in the business...
i think your expereince in hedge funds sounds professional. If I assume i own a trading firm and i need to hire traders for me, i will probably also use similar method as what the hedge funds did...

the 15 % of profits compensate also sounds reasonable. i am also wondeing do they take all the risk you lost or do you have to pay for some of the loss (of course i think they will also fire you when that happens).
  • #576,027
  • Dec 17, 2011 1:22am Dec 17, 2011 1:22am
if you do not surpass their monthly ROI you do not make money......that simple, if you enter into draw down, they will give you a call and try to help you psychologically and see what has changed, if you continue to blow their money.................you are fired.
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  • #576,028
  • Dec 17, 2011 1:29am Dec 17, 2011 1:29am
there are mechanisms in place to ensure you are not taking inane trading decisions that is what i mean by training on their expectations.

their chief trading officer, supervisor, risk manager, whatever you want to call him, will contact you if he sees you are making less than optimal trades..... whatever the next step is is up to their particular protocol.


as i said before they have clients, and their business in to make money, you pissing away their clients funds is not an option
AVT INVENIAM VIAM AVT FACIAM
  • #576,029
  • Dec 17, 2011 1:31am Dec 17, 2011 1:31am
Quoting the redlion
if you do not surpass their monthly ROI you do not make money......that simple, if you enter into draw down, they will give you a call and try to help you psychologically and see what has changed, if you continue to blow their money.................you are fired.
do you need to pay some of the money that you lost for them?
  • #576,030
  • Dec 17, 2011 1:34am Dec 17, 2011 1:34am
Quoting Yuchen
do you need to pay some of the money that you lost for them?
no, but i would read the contract carefully when you sign.


the mutual understanding is you take 15% of profits above ROI, and their risk is you not meeting the targets, or possible incurring in some draw down.

it should all be explained in the training course (more like expectation outlines)
AVT INVENIAM VIAM AVT FACIAM
  • #576,031
  • Dec 17, 2011 1:41am Dec 17, 2011 1:41am
Quoting the redlion
no, but i would read the contract carefully when you sign.


the mutual understanding is you take 15% of profits above ROI, and their risk is you not meeting the targets, or possible incurring in some draw down.

it should all be explained in the training course (more like expectation outlines)
What a rip off... So, why should anyone work for them? What's the benefit?
  • #576,032
  • Dec 17, 2011 1:43am Dec 17, 2011 1:43am
Quoting the redlion
no, but i would read the contract carefully when you sign.


the mutual understanding is you take 15% of profits above ROI, and their risk is you not meeting the targets, or possible incurring in some draw down.

it should all be explained in the training course (more like expectation outlines)
Thanks.

i think if i understand correct, a real trading company (not scams) should like this:

1. They should only let some good and experienced traders to trade their money, therefore their training is to tell you their expectation outline instead of "teach" you how to trade.

2. They always have a risk manager to pay attention to your trading activity, they do not care what is your trading strategy or tactic but they do care about if you are consistent and if you can meet their expectation.

3. They will warn you if you are underperformance or they think you are a dangerous trader and fire you immediately if you didnt make imporvement, but you do not have to pay for you loss (so you are risk free in terms of money, but you probably have very bad reputation and very hard for you to become a trader with them later)
  • #576,033
  • Dec 17, 2011 1:48am Dec 17, 2011 1:48am
Quoting pkimnyc
What a rip off... So, why should anyone work for them? What's the benefit?
i think you have missed his previous post , base salary + 15% of profits above ROI,
Mohan
  • #576,034
  • Dec 17, 2011 1:51am Dec 17, 2011 1:51am
Quoting pkimnyc
What a rip off...
for a not rich but have constant profitable trader, i think 15% above ROI is good in terms of money, unless their ROI is very high so it's hard to achieve...
but it probably be hard for a trader to trade with large money if he usually trade small money, coz you feel large pressure and nervous when you trade with large money...
i think for me, i sleep well if i trade 0.025 lots with 2,500 dollars, i need to check my computer after every 1-2 hours to see the price.
i am a little bit nervous but i can still sleep if trade 0.25 lots with 25,000 dollars, maybe i need to check for every 5-10 minutes.
i dont think i am brave enough to trade 2.5 lots with 250,000 dollars yet.
  • #576,035
  • Dec 17, 2011 1:51am Dec 17, 2011 1:51am
Quoting pkimnyc
What a rip off... So, why should anyone work for them? What's the benefit?
Maybe 15% of a few million is more than you'll make with your personal account lol
  • #576,036
  • Dec 17, 2011 1:53am Dec 17, 2011 1:53am
yeah at the beginning is pretty bad.

you are looking at making $1,500 a month that is if you make 10% of 100k (they dont have targets at this stage)

once you get to 1,000,000 they expect 2-3%

so you would be making 10,000 if you hit 10% at this point.

but read that contract with scrutiny
AVT INVENIAM VIAM AVT FACIAM
  • #576,037
  • Dec 17, 2011 1:56am Dec 17, 2011 1:56am
Quoting mohan76
i think you have missed his previous post , base salary + 15% of profits above ROI,
Well... That base salary must be real phat chunk cause im not gonna be happy about the 15% above expected roi.
  • #576,038
  • Dec 17, 2011 1:57am Dec 17, 2011 1:57am
if are good enough and you been consistent enough and they trust you with the max trading lines you are looking at

105k profit after you meet their 2-3%, their premise is that their clients expect bigger returns since it's implied that the risk is bigger 2-3% would be satisfactory but you wont make shit from it. so 10% if you can achieve it, monthly you are making 105k risk free, i hardly call that a rip off
AVT INVENIAM VIAM AVT FACIAM
  • #576,039
  • Dec 17, 2011 1:57am Dec 17, 2011 1:57am
Quoting sidhujag
Maybe 15% of a few million is more than you'll make with your personal account lol
Are you sure?
  • #576,040
  • Dec 17, 2011 1:59am Dec 17, 2011 1:59am
Quoting Yuchen
Thanks.

i think if i understand correct, a real trading company (not scams) should like this:

1. They should only let some good and experienced traders to trade their money, therefore their training is to tell you their expectation outline instead of "teach" you how to trade.

2. They always have a risk manager to pay attention to your trading activity, they do not care what is your trading strategy or tactic but they do care about if you are consistent and if you can meet their expectation.

3. They will warn you if you are...
from my personal experience that sounds about accurate, other traders here might have different stories to tell
AVT INVENIAM VIAM AVT FACIAM
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