Prop Shops in Australia

[RobinHood]

anyone heard of or dealt with tradeview ? melbourne based prop shop.

http://www.tradeview.com.au/

 

[CanOz]

Found this free training course while searching for Prop Shops in Shanghai....

 

[skc]

Today marks exactly one year since the day I started prop trading, and it has been a very good 12 months. It all started when I asked an innocent question...

Do they take someone like me trading equities?

And thanks to someone's introduction I was offered the chance to interview and subsequently trade equities with them.

I have been trading remote from home so there are actually few differences between prop and trading my own money in terms of day to day processes. I do howoever get access to a wider range of information (e.g. broker reports), opportunity to talk to other traders and better trading platform etc. What I was surprised to find out, was how overall relaxed (it's not just because I am trading remote in my PJs) and supportive the environment is. It's great to have someone reassuring you through periods of drawdown and showing you confidence in your ability.

If you have what it takes I strongly recommend giving it a shot. There's even an online form these days.

http://www.propex.net.au/careers/451-propex-is-now-trading-equities

 

[skyQuake]

Today marks exactly one year since the day I started prop trading, and it has been a very good 12 months. It all started when I asked an innocent question...



And thanks to someone's introduction I was offered the chance to interview and subsequently trade equities with them.

I have been trading remote from home so there are actually few differences between prop and trading my own money in terms of day to day processes. I do howoever get access to a wider range of information (e.g. broker reports), opportunity to talk to other traders and better trading platform etc. What I was surprised to find out, was how overall relaxed (it's not just because I am trading remote in my PJs) and supportive the environment is. It's great to have someone reassuring you through periods of drawdown and showing you confidence in your ability.

If you have what it takes I strongly recommend giving it a shot. There's even an online form these days.

http://www.propex.net.au/careers/451-propex-is-now-trading-equities

Well done!

They are after all, a business. If you can show you have a consistent edge even in something like poker they might bankroll that too

 

[CanOz]

I wonder if we should dig up some articles on the games they used to play on the floor? Likely why the floor traders didn't welcome electronic trading, they lost their edge.

 

[db94]

Today marks exactly one year since the day I started prop trading, and it has been a very good 12 months. It all started when I asked an innocent question...



And thanks to someone's introduction I was offered the chance to interview and subsequently trade equities with them.

I have been trading remote from home so there are actually few differences between prop and trading my own money in terms of day to day processes. I do howoever get access to a wider range of information (e.g. broker reports), opportunity to talk to other traders and better trading platform etc. What I was surprised to find out, was how overall relaxed (it's not just because I am trading remote in my PJs) and supportive the environment is. It's great to have someone reassuring you through periods of drawdown and showing you confidence in your ability.

If you have what it takes I strongly recommend giving it a shot. There's even an online form these days.

http://www.propex.net.au/careers/451-propex-is-now-trading-equities

wow, someone on here who works for a prop shop
Ive wanted to get into prop trading for a while now, especially in equities. Gotta finish uni first and hopefully get some decent funds to start trading. You should do a AMA (ask me anything) about the job etc, so others and myself can see what its like to be a prop trader.

 

[CanOz]

Ive wanted to get into prop trading for a while now, especially in equities. Gotta finish uni first and hopefully get some decent funds to start trading. .

wow, someone on here who works for a prop shop

There's more than one, and a few ex-prop

You should do a AMA (ask me anything) about the job etc, so others and myself can see what its like to be a prop trader

this is a great idea, Propex should encourage this if they want more recruits....

 

[So_Cynical]

Today marks exactly one year since the day I started prop trading, and it has been a very good 12 months. It all started when I asked an innocent question...

Well done skc, i always knew you were the real deal.

 

[skc]

They are after all, a business. If you can show you have a consistent edge even in something like poker they might bankroll that too

Lol. Imagine the day they start an online poker or sports betting desk. A betting floor with 20 big screens showing all the sports you can handle...

You should do a AMA (ask me anything) about the job etc, so others and myself can see what its like to be a prop trader.

You can AMA, but I don't promise AEA (answer everything asked). Plus I am trading remote in equities so may be it's very different to be in the office doing futures.

 

[payday]

I'll take the bait and ask a few questions skc, if I may.
1. What made you take the leap into prop trading?
2. Were you already a successful trader in your own right? Ie able to draw an income solely from trading that you could live off?
3. What are the advantages of prop trading over trading on your own?
4. Would you go back to trading on your own?
5. Is there high pressure to perform? If so, what are the benchmarks?

Thanks. I may have more questions in the future

 

[CanOz]

Kudos SKC, I've always admired your discipline and your self analysis, the stats and stuff you look at. Also, you seem to be an all rounder of sorts, technical but fundamental too...with a knowledge of ASX Stocks, second to none.

Its nice to have a few of the "real deal" around, by that i mean Prop Traders...good enough to trade OP's money. Cool, quiet and confident. I really appreciate all you've contributed.:thankyou:

Congrats on your first year

 

[skc]

I'll take the bait and ask a few questions skc, if I may.
1. What made you take the leap into prop trading?
2. Were you already a successful trader in your own right? Ie able to draw an income solely from trading that you could live off?
3. What are the advantages of prop trading over trading on your own?
4. Would you go back to trading on your own?
5. Is there high pressure to perform? If so, what are the benchmarks?

Thanks. I may have more questions in the future

payday,

1. All the advantages listed in point 3. But the tipping point was actually the collapse of MF Global and me withdrawing 90% of my funds with them on the Friday night before they folded on Monday morning.
2. Yes. I traded full time for 4 years before joining.
3. I don't want to go through it all here. They are through this thread which you can read. You can also see the hinderence of a private trader here. https://www.aussiestockforums.com/forums/showthread.php?t=26543&highlight=hidden. Essentially it makes good business sense and it makes good professional development sense.
4. They will have to kick me out. Or in an unlikely scenario - they can no longer increase my size AND I have enough of my own capital to trade such size AND at the same low transaction costs AND I have no fear of counterparty risks.
5. Not at all. The only real demand they've ever made was encourage me to trade my full size limit (as I often don't). But they always let me grow my trading at my own pace, and they always tell me there's higher limit available when I reach my threshold. It's not a pressurised environment at all, but it helps me to develop and continue to reach beyond the comfort zone. There are no benchmarks.

P.S. Thanks everyone for the love.

 

[VSntchr]

Lovely to hear SKC, keep that alpha pumping!

The constant drive to keep improving and upsizing is vital IMO and will no doubt ensure your consistent success.

 

[payday]

Thanks skc for the reply. Can I just ask a generic question - I have always been confused about the role of a prop shop. They are not fund managers are they? What is the reason for their existence? Is it just a group of traders who get together and share the costs of the more expensive platforms that are out there - like Bloomberg terminals etc and combine their expertise? Also, what does the prop shop get out of you joining them? Do they get a cut of your profits?
Thanks again

 

[tech/a]

SKC

Did you make bonus?

 

[tech/a]

I wonder if we should dig up some articles on the games they used to play on the floor? Likely why the floor traders didn't welcome electronic trading, they lost their edge.

Ive been fortunate enough to spend sometime socially with Nick Radge.
He's floor traded

London
Singapore
Chicago
Sydney

Every now and then he pops up with some truly riveting stories
Nick lights up!

But generally the edge seemed to be "Floor Knowledge"
Who dealt with who---who handled who
How those on each end of the trade operated.
By knowing the players and how they played you
attempted to front run them or draw in players.

Hand signals
Rapid fire buy sells.
What was size for some hence somethings up.

Alan Pease must have plied his trade here!
Sadly the color of the floor and its characters are all but gone.

I mentioned recently that I was looking forward to the film
"Wolf of Wall Street" Having read both books.
He tells me that it is pretty close to the mark to how it was.
No need to write a script!
Jordan Belfort now commands $100,000 for 1hr or so speaking engagements.
Now that's one guy who'd be great at a dinner party!

I guess that's the next step from prop!

 

[skc]

Thanks skc for the reply. Can I just ask a generic question - I have always been confused about the role of a prop shop. They are not fund managers are they? What is the reason for their existence? Is it just a group of traders who get together and share the costs of the more expensive platforms that are out there - like Bloomberg terminals etc and combine their expertise? Also, what does the prop shop get out of you joining them? Do they get a cut of your profits?
Thanks again

Prop shops exist to make money. They house traders, provide them with capital, market access, IT support etc. As you are trading their capital while they are getting your trading skills, it seems only fair to enter some sort of profit split arrangement. Although some shops may also offer base salary.

What you might be thinking of is a trading room of sorts (I can't remember the proper name) where traders get together, share the costs but trade their own money. That's an entirely different business model.

Did you make bonus?

No. There is no such thing as a bonus for me.

 

[Trembling Hand]

SKC

Did you make bonus?

No bonus.

 

[CanOz]

What you might be thinking of is a trading room of sorts (I can't remember the proper name) where traders get together, share the costs but trade their own money.

Trading arcade.

 

[tech/a]

No bonus.

So I presume no bonuses for either of you.
So a salary plus a share of profit?

I guess what Im getting at is that if you are trading for a share of profit only (and that makes sense) and
trading approx 100 x the size you'd trade on your own account then you'd need more than 1% to be better off.
As an example.

Is that the way it works.