Trading Environment

[Trembling Hand]

I see Propex are advertising for more trainee traders.

http://seek.com.au/showjob.asp?jobid=13298086

 

[MRC & Co]

I see Propex are advertising for more trainee traders.

http://seek.com.au/showjob.asp?jobid=13298086

Yeh, it's that time of year again.

 

[Trembling Hand]

Yeh, it's that time of year again.

You going to have a go?

 

[MRC & Co]

You going to have a go?

Yeh. Well I am not applying through SEEK, spoken to them a couple times over the last few months (since this thread first came up). They said they will contact me once they have short-listed people. So see what happens......

Any others here having a crack?

 

[jersey10]

I would love to do this but don't have the skills yet. How much training do they give you? The advertisement seems to imply anyone off the street who has a serious interest in trading and is disciplined, hard working, etc. can be trained from zero knowledge by their expert traders. From the previous posts in this thread, particularly from TH's experience there a while back, it seems that is definitely not the case.

 

[Trembling Hand]

I would love to do this but don't have the skills yet. How much training do they give you? The advertisement seems to imply anyone off the street who has a serious interest in trading and is disciplined, hard working, etc. can be trained from zero knowledge by their expert traders. From the previous posts in this thread, particularly from TH's experience there a while back, it seems that is definitely not the case.

No it is the case. they are looking for newbies to train. Not experienced traders.

 

[jersey10]

No it is the case. they are looking for newbies to train. Not experienced traders.

So let me get this right. If i answered the ad and was accepted they would pay me a wage while they taught me how to trade futures and would supply me with all the software, hardware, education etc. for free from an office in the Sydney CBD? It all sounds to good to be true!

How long would the education phase take before they let you loose trading their capital?

What do they get out of it?

 

[Trembling Hand]

So let me get this right. If i answered the ad and was accepted they would pay me a wage while they taught me how to trade futures and would supply me with all the software, hardware, education etc. for free from an office in the Sydney CBD? It all sounds to good to be true!

How long would the education phase take before they let you loose trading their capital?

What do they get out of it?

A very small wage while you train.

Once you go live isn't free you have desk fees etc.

I think it takes AT LEAST 6 months. You would have to ask.

They hopefully get a profitable trader out of it just like any biz training staff. If they don't you get shown the door.

 

[jersey10]

If this was offered in Brisbane i would be thinking very seriously about doing it. Anybody know of any firms that offer this sort of thing in Brisbane?

 

[MRC & Co]

I don't think they will mind me talking about it, as it was shared without any mention of privacy.

But the wage is small, about a thousand a month I believe, the training program is 6 months and as stated, you learn F/A, T/A and psychology.

They are after 'talented' (not sure what is meant by that) individuals, who are passionate about the markets and preferably have previous training experience (think that was all stated in THs link).

It is in the Sydney CBD, so if you can sustain yourself for 6 months and want to take the risk of spending 6 months training, while dipping into your own pockets to sustain yourself, for the shot of becoming a professional trader and trading with others who can actually find an edge in the market and having an account to do it for a living, then that is the choice you have to make.

Not to mention, the opportunity cost of 6 months in which you could be doing something else and earning a much better wage.

As with everything, always a trade-off, really depends how much you are willing to risk and how much you want it.

Cheers

 

[professor_frink]

If this was offered in Brisbane i would be thinking very seriously about doing it. Anybody know of any firms that offer this sort of thing in Brisbane?

you wanna be a trader then location shouldn't matter too much. It shouldn't be too hard to get to sydney if you get an interview with them.

I kinda wished I knew these kinds of places existed when I was first starting to get into trading. I'd be have been all over these guys like a cheap suit trying to get a piece of the action.

 

[MRC & Co]

I agree Professor, if you are really serious about trading, 6 months with these guys (regardless of outcome) would be sure to gain quiet a bit of knowledge, I would be prepared to move cities to give it a try.

You still thinking of applying TH (not for the training program of course), but for an actual position and account?

 

[jersey10]

Yeh, it's that time of year again.

The new financial year do you mean?? Do they usually take on new trainees each July?

 

[MRC & Co]

The new financial year do you mean?? Do they usually take on new trainees each July?

I think selection is generally in July, trainee program starts in August.

Though, not sure how many they take in or how many generally end up as traders there..........may be a very high failure rate. But hey, that is to be expected in trading, especially prop.

 

[Trembling Hand]

You still thinking of applying TH (not for the training program of course), but for an actual position and account?

No. thankfully past it.

 

[Largesse]

hi guys,

what are the chances of a 3rd year uni commerce student progressing to the interview stage at propex? should i bother or will it be a waste of time applying?
i am prepared to defer second semester and relocate to sydney.

thanks in advance

Big L

 

[Largesse]

Whitey1982,

Any chance you looking to take on an intern/trainee this summer? From your brief description of what you do, your area is what i'm looking to get into after i graduate.

I will be applying through all the normal channels but it's always worth asking!


L

 

[MRC & Co]

Largeese, lol, none of us here are from Propex, so wouldn't have the slightest clue. I am throwing my hat into the ring, but no expectations. Think my chances would be lower than 50/50, so just go with the flow.

Either way, I still have my own capital to trade, luckily haven't lost it all yet.

 

[jersey10]

Largeese, lol, none of us here are from Propex, so wouldn't have the slightest clue. I am throwing my hat into the ring, but no expectations. Think my chances would be lower than 50/50, so just go with the flow.

Either way, I still have my own capital to trade, luckily haven't lost it all yet.

MRC,

From reading your posts over the months i have been here you seem fairly cluey about the whole trading game. Surely if Propex are prepared to train people from scratch you would be a decent bet to get a gig? Or would they prefer someone who has no experience so they can be taught the Propex system and have no biases towards other systems or ways of trading??

 

[MRC & Co]

Thx Jersey.

I wouldn't have a clue who they would prefer. I guess they would have something specific they are looking for, but I think experience would definatley be a plus. I doubt there would be a "Propex system" as everybody needs to trade differently.

But I imagine there would be plenty of experienced traders still having a shot at it, not to mention, they don't have a clue what I know or can and can't do whilst interviews are always very random. A lot depends on the questions asked and how you feel and are thinking on that day. I think a formal interview process is a complete waste of time personally. A drink and a chat with a look at a resume would be a much better way IMO.

Either way, good luck if you apply mate, keep us filled in. Hopefully someone from around here gets a shot at least at the training gig and can shed a bit more light on the entire scene.