# New Propex Intake



## zerstorer (24 July 2009)

http://www.seek.com.au/job/trainee-b-futures-b-b-trader-b/sydney-inner/15727893/87/1/

I thought I had already posted this, apologies if I have.

It has been up for about 3 hours now with like 50 applicants already.


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## Sean K (24 July 2009)

zerstorer said:


> http://www.seek.com.au/job/trainee-b-futures-b-b-trader-b/sydney-inner/15727893/87/1/
> 
> I thought I had already posted this, apologies if I have.
> 
> It has been up for about 3 hours now with like 50 applicants already.



It was deleted because it looked like Spam.

I didn't even hit the link in case my computer got the Swine Flu.

Anyone else?


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## johnnyg (24 July 2009)

Looks OK Kennas --> http://www.seek.com.au/job/trainee-futures-b-trader-b/sydney-inner/15727893/42/1/


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## Sean K (24 July 2009)

johnnyg said:


> Looks OK Kennas --> http://www.seek.com.au/job/trainee-futures-b-trader-b/sydney-inner/15727893/42/1/



Well, I trust you johnny, so OK. 

I'm still not clicking on the link though. Even though it's seek. Just don't trust emails or posts that say 'look here!' with nothing else. 

Why not just post the info here?


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## zerstorer (24 July 2009)

kennas said:


> Well, I trust you johnny, so OK.
> 
> I'm still not clicking on the link though. Even though it's seek. Just don't trust emails or posts that say 'look here!' with nothing else.
> 
> Why not just post the info here?




You serious?  Why would I post what is simply a single click away at a known good domain?

If that is too difficult, I'd imagine the content is of no value anyway

Edit: and sorry to whoever deleted the thread the first time, wasn't trying to spam (or double post) even though I apparently did


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## skyQuake (24 July 2009)

How do you know 50 people have already applied?


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## zerstorer (24 July 2009)

skyQuake said:


> How do you know 50 people have already applied?




I overhear things

Oh, and on rereading my previous reply, I wasn't trying to indicate that you, kennas, wouldn't be up to an entry level position - sorry if it sounded that way.

To be clear, I do not represent Propex in any way, but, I do know quite alot about them


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## IB12 (7 April 2010)

Anyone can give me a feel for what the culture is like at Propex?

I'm seriously thinking about applying to the place for the grad program. 

They offer "mentoring" but what does this mean? Do they take care of people and try to nurture talent? Or is it an aggressive, eat what you kill place where there is a specific time frame that you have to be profitable by? And thus they will show you the door if you don't make it? 

They had a pretty large intake last time around, so the place must be filled with like 20-80 people at least.

Is the trading floor anything like this? (i.e. former Refco floor)




Or is the culture more like an Arcade like this:
http://www.youtube.com/watch?v=tsZ3vmzmUYE

http://www.youtube.com/watch?v=XruhYQW6unA


I currently trade forex and equity index futs with IB and MetaTrader, have done well (can prove/verify with brokerage statements) and think I'm ready to take the leap. I love the lifestyle so yeah. 



Any help would be appreciated. If I can figure out the details it would save Propex and myself time, whether I'm right for this long term. 

If you would like to PM me, feel free to. Maybe we could be friends.


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## Trembling Hand (7 April 2010)

IB12 if your have traded futs with some reasonable success but just need to up size and get access to cheaper brokerage just contact them in regards to trading rather than starting at their grad program.


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## IB12 (7 April 2010)

Trembling Hand said:


> IB12 if your have traded futs with some reasonable success but just need to up size and get access to cheaper brokerage just contact them in regards to trading rather than starting at their grad program.




Thanks TH. 

My only concern is that I've only been doing this for about a year, with good results. And that it might not be sustainable, and I still need to learn a few things. That's why I'm targeting the grad program. 

And ... if it turns out that I do blowup long term or fail, then I'd like to know what other avenues are available career wise. I mean, I've got good results, however there were a couple of trades where the drawdown was indeed quite large, so in a sense I still need to refine my strategy if I want to lower the risk (and maybe returns) hence am still in the beginning/mid stages of the learning curve. 

I only recently graduated from Uni, did a B.Com/B.Laws and did well.


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## Largesse (7 April 2010)

the law degree will be useful


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## supermatt (20 August 2010)

i just got an email back from propex ( I enquired about their online trading program) as a stepping stone to "possibly" getting a gig with them. then found that the course was 2.5k, seems like quite alot .. (not that im looking for a free ride or anything )  has anyone done it? quite a big unknown i would imagine.

thoughts on if its worth it etc?. over 40 lessons going through an all round approach to highly active trading. its an online version of the training they do at their office apparently.


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## ags83 (22 August 2010)

supermatt said:


> i just got an email back from propex ( I enquired about their online trading program) as a stepping stone to "possibly" getting a gig with them. then found that the course was 2.5k, seems like quite alot .. (not that im looking for a free ride or anything )  has anyone done it? quite a big unknown i would imagine.
> 
> thoughts on if its worth it etc?. over 40 lessons going through an all round approach to highly active trading. its an online version of the training they do at their office apparently.





Do you know if they just got this going ?  Just came across the propextraining.com website, doesnt seem to be a link to this page from their homepage though.  Would also be very interested also to hear from anyone whose done it.  Compared to some other trading training programs i've seen the cost seems fairly reasonable.  And as they haven't been selling these courses for long its not their main business which is a good sign.

I will probably end up doing this within the next few months as hopefully a means to getting a spot there (tried twice allready through the regular route    ).


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## supermatt (23 August 2010)

i am not to sure as to the depth of the course, it seems very basic to me and anyone that has been around trading for a while would probably find it boring and get nothing out of it.

im not trying to say that i know everything but you know... just going by the course outline it does seems very basic and i have been studying trading for over a year now and i personally dont think id get anything out of their course. There might be maybe 1 or 2 lessons out of 40 that i might find helpful. for 2500$ for anyother course no way in hell would i do it but this is a different situation all together. 

but yeah would be great to hear from anyone who has done it and if it lead to a job there. I have emailed them a more detailed email on some of these questions.

but i guess 2.5k is nothing if it lands you a job there  which is probably the only reason id do this course


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## ags83 (23 August 2010)

Apparently they just put it up a week ago so noone would have completed it yet.  

Yes the major reason I would do it is to gain a spot there, so would need to be sure that they will notice if you are doing a great job.


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## supermatt (23 August 2010)

yep I have confirmed that it is only 1 week old so yeh no one has done it yet.

sounds to me as though it could be a decent stepping stone. If not anything else you can get great low commisions through one of there clearing houses 

if you do it ags let me know because i am seriously thinking of doing it as well


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## hooikk (23 August 2010)

supermatt said:


> i am not to sure as to the depth of the course, it seems very basic to me and anyone that has been around trading for a while would probably find it boring and get nothing out of it.
> 
> im not trying to say that i know everything but you know... just going by the course outline it does seems very basic and i have been studying trading for over a year now and i personally dont think id get anything out of their course. There might be maybe 1 or 2 lessons out of 40 that i might find helpful. for 2500$ for anyother course no way in hell would i do it but this is a different situation all together.
> 
> ...




Hi Matt,

I'm interested in doing the Propex course as well and was just wondering what kind of questions you asked them?

I asked Guy a few questions about their simulator, but wanted to make sure I covered all bases.

Have you received a response?


cheers,
NK


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## supermatt (23 August 2010)

yeah sure be good to exchange questions to make sure all bases are covered. 

I basically asked him what does the course offer that others dont, and if i have more than 1 year experience and am more than a new trader but not an experienced trader yet. Like someone such as myself i have done that many courses and been on trading sites everyday for over a year researching.

what will the course give me knowledge wise and if ill get anything out of it

The answer i got was that essentially what the course tries to do is give you an overall plan of attack for trading a market. they use the spi for most of the examples but applies to every market. I am really not sure what benefit is in it really, vs having a mentor sit with you inhouse (which i think would be invaluable) 

I told him of a few courses I have done and he says most are similar but the propex one is different from the way they go about things, he then went on to say nothing is secretive there , just simple. 

he said the online course is a new way to find inhouse traders but he is not sure how it will go as its only new. 

About the sim he said they cant monitor you on that remotely the only other way is to trade live for a while then show your account balances after x period of time.

Guy was very helpful and easy to talk to so it was good to get some of these answers.

What did you find out ?


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## hooikk (23 August 2010)

supermatt said:


> yeah sure be good to exchange questions to make sure all bases are covered.
> 
> I basically asked him what does the course offer that others dont, and if i have more than 1 year experience and am more than a new trader but not an experienced trader yet. Like someone such as myself i have done that many courses and been on trading sites everyday for over a year researching.
> 
> ...




There is an FAQ (http://propextraining.com/?page_id=1720) on their training where the questions are being collated as well - seems like both our questions are up there too. 

Yea - agree that Guy is quite helpful.  As an aside if you didn't already know, Guy is a published author and has a website up, http://guybower.com/. Seems like he has a trading newsletter too.


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## supermatt (24 August 2010)

yea looks like our questions have been added there. I didnt realise guy was an author, looks very accomplished, thanks for the website


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## choice1 (30 August 2010)

I stumbled upon the online training course today also, remember reading about it a while back and it seems to have finally been finished.

The course outline seems very basic to/for me. Having said that it does give a better stepping stone for someone wanting to get into this business instead of moving to Sydney for $1,000 per month for their traineeship.

Will be interesting to hear how it is from someone who signs up. It always makes me skeptical with a price tag this high, but I guess they'll have a heap of applicants so might as well make some coin out of them


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## supermatt (31 August 2010)

the course description is vague at best and for 2500 $ i question how much you actually get out of it, especially for someone doing it by themselves, especially someone who has a bit of knowledge about the markets. Theres courses out there for 99$ that offer more than you will get from this, as i have done them personally. It seems like the money would be an expensive lotto ticket in the faint hope you might get past round 1 interviews there. 

who is going to be the guniea pig 

they should give the course to free to someone to give an honest assesment before the public dish out their cash without any reviews.

for example, all the stuff in the "special reading" section is prompting you to buy the course for you to view it. Its part of the course supposedly but you can get all those exact topics on other websites for FREE!!, its just copy and pasting it from that site to the propex site and charging for it.


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## ags83 (31 August 2010)

I will very likely do it, but not for a month or 2, I still want to do more study myself and start trading a little on my own before I sign up.  

Would also want to make sure you get to ask plenty of questions, get your trades reviewed by a trader and have planty of contact with Guy and/or a few traders there. Its highly doubtful any written trading course would be worth anywhere near that much by itself, value would be in having contact with some winning traders and getting some help from them.

Whenever I do it I'd want to be at it full time for the 30 days and be sim trading everyday and i'd want someone to be looking at my trades afterwards and giving some pointers/ideas, and this way you could get noticed if you were showing promise for a spot there.


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## hooikk (1 September 2010)

ags83 said:


> I will very likely do it, but not for a month or 2, I still want to do more study myself and start trading a little on my own before I sign up.
> 
> Would also want to make sure you get to ask plenty of questions, get your trades reviewed by a trader and have planty of contact with Guy and/or a few traders there. Its highly doubtful any written trading course would be worth anywhere near that much by itself, value would be in having contact with some winning traders and getting some help from them.
> 
> Whenever I do it I'd want to be at it full time for the 30 days and be sim trading everyday and i'd want someone to be looking at my trades afterwards and giving some pointers/ideas, and this way you could get noticed if you were showing promise for a spot there.




Not too sure if you get that amount of support with the online course - it sounds more like their mentoring program which is scheduled to be up in Dec/Jan according to Guy.


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## wade (1 September 2010)

ags83 said:


> I will very likely do it, but not for a month or 2, I still want to do more study myself and start trading a little on my own before I sign up.
> 
> Would also want to make sure you get to ask plenty of questions, get your trades reviewed by a trader and have planty of contact with Guy and/or a few traders there. Its highly doubtful any written trading course would be worth anywhere near that much by itself, value would be in having contact with some winning traders and getting some help from them.
> 
> Whenever I do it I'd want to be at it full time for the 30 days and be sim trading everyday and i'd want someone to be looking at my trades afterwards and giving some pointers/ideas, and this way you could get noticed if you were showing promise for a spot there.




try and get a simulator somehow and have a go on that before you sign up, i got accepted as a trainee, the course is as described with some good advise inside but I think the mentoring is what you want. You have to remember that it is mostly directed at high frequency trading


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## jersey10 (1 September 2010)

wade said:


> You have to remember that it is mostly directed at high frequency trading




How frequent?


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## dracula (2 September 2010)

supermatt said:


> the course description is vague at best and for 2500 $ i question how much you actually get out of it, especially for someone doing it by themselves, especially someone who has a bit of knowledge about the markets. Theres courses out there for 99$ that offer more than you will get from this, as i have done them personally. It seems like the money would be an expensive lotto ticket in the faint hope you might get past round 1 interviews there.
> 
> who is going to be the guniea pig
> 
> ...




I doubt that a prop company would sell you a trading course for $99, but if that is the case, pls let me know...
Also, it's unlikely one can guess what's included in the lessons without actually enrolling.


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## supermatt (3 September 2010)

of course a prop shop wont offer it that cheap. just look around the world some prop shops want 8 grand for their course, so i guess this is cheap. However atleast those places do have several videos going through a couple of lessons describing how they trade and what to expect from the course vs just a few words on a bit of paper which is impossible to tell what you get.


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## hooikk (3 September 2010)

supermatt said:


> of course a prop shop wont offer it that cheap. just look around the world some prop shops want 8 grand for their course, so i guess this is cheap. However atleast those places do have several videos going through a couple of lessons describing how they trade and what to expect from the course vs just a few words on a bit of paper which is impossible to tell what you get.




do you have a couple of links to share?


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## supermatt (3 September 2010)

sure but prefer not to post them in the main thread, pm messages with what links you would like and ill try provide some.


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## skyQuake (4 September 2010)

At least the propex training is legit compared to the many many s&p emini courses out there.
Propex needs to cover data licence, software, terminal fees too


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## Gussigan (4 September 2010)

supermatt said:


> Theres courses out there for 99$ that offer more than you will get from this




Could you provide some examples of some the more cost effective courses?

cheers


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## supermatt (5 September 2010)

lol yeah majority of emini courses are a joke. 

ok im getting a bit off topic here. I should rephrase. for a prop firm offering a course propex have it for a very reasonable price once comparing it to other prop firms around the globe. 

and plus propex target learning the spi to which is great as everything is so focused on emini etc doesnt help out many aussies.

I have done a couple of courses for below 200$ they arent from a prop firm though, more so just teaching about price action trading so i cant compare the 2 as no doubt these 2 courses are focusing on slightly different topics. 

anyway like someone said before. when i take some leave from work i am going to do this course and trade the sim


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## ags83 (14 September 2010)

How different is trading eminis compared to trading the SPI futures ?  Is there far less algo trading on the SPI ?  Would I be right to guess there could be much more tradable info off the DOM/order flow for the SPI than the others?


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## white_goodman (17 September 2010)

ags83 said:


> How different is trading eminis compared to trading the SPI futures ?  Is there far less algo trading on the SPI ?  Would I be right to guess there could be much more tradable info off the DOM/order flow for the SPI than the others?




SPI is incredibly difficult to read off the DOM, its a spoof within a spoof within a spoof


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## adds (15 November 2010)

The propex course has been available for a couple of months now.

Has anyone done it or are currently doing it?

If so how did you find it/finding it?

Have you learnt much?

Has it improved your trading?

Is it worth the money?

How does it compare to other courses that you've taken?

Did it help you land a position with propex?

Cheers,
Adds


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## spibok (16 March 2011)

There is another intake coming shortly. Any idea on the details? Anyone on here going for this? See there is also a Singapore option now.


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