Australian (ASX) Stock Market Forum

Prop Shops in Australia

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so you've got an offer from one of the MM's?

whats the pay structure?
whats your base (give a range if you don't want to give specifics)
how is your bonus calculated (assuming you get one)

where are you based out of?
do you start on a trainee salary?

tell me about the application process aswell

chop chop
 
not that personal at all seeing as you will be on a template graduate program salary.

realistically i could just call each of the three places and ask the same questions and they would tell me straight out.

but if you want to be all secretive, by all means do so, don't forget you are posting under an anonymous alias aswell..... :rolleyes:
 
lol!

most important thing is that you work in something that suits you.
the unfortunate part about MMs doing rv &arb and big trading houses is that its not something you can test out before to see if you like it.
 
Largesse said:
not that personal at all seeing as you will be on a template graduate program salary.

realistically i could just call each of the three places and ask the same questions and they would tell me straight out.

but if you want to be all secretive, by all means do so, don't forget you are posting under an anonymous alias aswell..... :rolleyes:
Click to expand...

why don't you call them then?

most MM's list their salary offered in adds that commonly come up on seek etc
 
whitey1982 said:
propex pay u one thousand dollars a month for six mths to 'train'. this is a joke in my opinion. who are they looking for? who can afford to do this?
i didn't continue with my application because of this............
Click to expand...

Geez, I would happily pay propex $1000 per month for this opportunity. Unfortunately it seems I'm not what they're looking for...
 
Im looking at applying for the MM's (Optiver etc) also this year, as i'll be graduating end of the year. Dont really wanna live in Sydney, but gotta do it i guess...

Im boning up on my fast maths skills at the moment, doing fraction and decimal multiplications etc to try and get in the mind-set again.

Any other tips out there?
 
Go to the Optiver site and do the practice test Prawn, think it's only 10 Qs (real test is like 80).

When they say quick, it means QUICK!!!!! :car:
 
MRC & Co said:
Go to the Optiver site and do the practice test Prawn, think it's only 10 Qs (real test is like 80).

When they say quick, it means QUICK!!!!! :car:
Click to expand...

Thanks mate, i have been using this site to practice:
http://www.thatquiz.org/

I average about 85% accuracy and 3s per question for integers and 6s per question for decimals and fractions

PS - I couldnt find the practice test on the optiver site...
 
well i sent in my resume to propex today, probably missed the march intake, lets hope i see you around September MRC & Co
 
prawn_86 said:
Im looking at applying for the MM's (Optiver etc) also this year, as i'll be graduating end of the year. Dont really wanna live in Sydney, but gotta do it i guess...

Im boning up on my fast maths skills at the moment, doing fraction and decimal multiplications etc to try and get in the mind-set again.

Any other tips out there?
Click to expand...

after i sat the test at optiver i was talking to someone who said they googled it prior to coming in and found some tips somewhere online. so it might be worth a search around.
i'm not sure how much you can study for this stuff. you either know it or you don't. not much time to stop and think.
oh and tibra's one was all logic q's.
 
A quick post on the why trade for a prop. To counter the "if ya a good trader why would you need to question".

First and most obvious SIZE. With props willing to let you go nuts with size you would need a huge personal account to match that. HUGE. Almost impossible to get there if you don't start there :(.

Second COST. Try moving size with retail brokerage. Forget it. You will be cut to bits. This alone could save an active trader $50,000 to $100,000 a year!

Third. IT support straight away.

Fourth. Having a risk manager helping and looking after you. Their interest is aligned with yours. Lot easier falling into a pit when your sitting in a room by yourself and no one looking out for you.

Fifth In spite of the "best job in the world" spiel it gets friggin boring sitting in your own house. Especially when you are youngish.

Sixth Better execution into the market.

Seven Experience in development of real traders not all the BS out on the web/books/ etc.

Eight With size and cheap brokerage and a experienced risk manager you can take a small expectancy and make a bucket load.

Ninth And this is the winner for me. You can take profits and still trade the same size. Think about it. If you are trading your own capital every time you take money out its like a loss. You are effecting your future earnings because you are reducing your size. Every time you pay your tax bill you reduce your size:mad:. There is no way around it when you trade your own capital.




Probably some props could add to this. But the "if you can trade for yourself why" question is because most have a dream that has nothin' to do with the reality of living off trading.
 
Yeah mate i was just wondering because i always assumed you traded from home and just threw me a bit when you gave all of those advantages for prop shops.

cheers
 
mattlaw said:
Yeah mate i was just wondering because i always assumed you traded from home and just threw me a bit when you gave all of those advantages for prop shops.

cheers
Click to expand...

Actually I'm always sniffing around them because of these things. Mainly the added motivation to trade bigger size. But haven't taken the plunge ... yet.
 

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