Prop Shops in Australia

[Trembling Hand]

What about starting your own fund and managing OPM TH?

PS..what is K200??

Prop has a better profit split. Not to mention a lot easier admin.

K200 is the Korean index. about 300,000 lots done per day. Compared to the SPI of max 30,000 or HSI of 100,000.

 

[white_goodman]

Prop has a better profit split. Not to mention a lot easier admin.

K200 is the Korean index. about 300,000 lots done per day. Compared to the SPI of max 30,000 or HSI of 100,000.

Kospi??

i think i read something how they allow things to be traded there that arent traded on other exchanges....

(this is just my subconcious memory talking)

 

[Naked shorts]

No but wish I did 5 years ago. If I could find one that connects to K200 I would be in there begging tomorrow.

MR C go ask Max to turn on that switch will ya??

Im pretty sure futex in Singapore is connected. Also the max tax payable on income is 21% in Singapore. none of this 49% crap

 

[Trembling Hand]

Im pretty sure futex in Singapore is connected. Also the max tax payable on income is 21% in Singapore. none of this 49% crap

Stinkers nah thanks. On another note see your about to go from FX to FX Futs. Why not index? Plenty of prop in Oz for that.

 

[Naked shorts]

Stinkers nah thanks. On another note see your about to go from FX to FX Futs. Why not index? Plenty of prop in Oz for that.

FX is open more often, so when im overseas I dont have to stick to my market's opening hours.
If im having a crap day trading, i dont have to wait until the next day until i can trade again, I can simply go and review my plan without having to worry about getting in before the market closes.

Its also a bigger market, so when I'm able to manipulate it, I get more respect


Dont many prop shops in oz do fx futs? Propex has a connection to the CME...

Why would you prefer to go index futs over fx futs?

p.s. why are futex stinkers? I havent seen anything negative about them yet.

 

[Trembling Hand]

Why would you prefer to go index futs over fx futs?

Because they are closed more often.

p.s. why are futex stinkers? I havent seen anything negative about them yet.

No, Singapore = Stinkers.

 

[Largesse]

how are you assessed at a place like propex?
how much do you need to be returning to keep your seat?

 

[Trembling Hand]

how are you assessed at a place like propex?
how much do you need to be returning to keep your seat?

1st one as much as any job is my guess!

2nd profitable after cost. Is the easy answer.

 

[Naked shorts]

This is what they told me when I went in for the testing

If your not making enough money, it doesn't make business sense to keep you.

They also said it has taken some traders up to a year to become profitable, other 2 months.

i think they said it costs them $2k per month for your seat in the place (others might want to confirm this)

 

[Largesse]

but where do you draw the line at "profitable after cost" ?

Are you considering the opportunity cost of getting someone better in your seat?

if you are 'profitable after cost' by like $10k for a year, are they seriously going to keep you?

 

[Trembling Hand]

Do you seriously need an answer to that?

 

[Largesse]

i'll let you be the judge of that

 

[Naked shorts]

i'll let you be the judge of that

Propex has plenty of free space in their office. So there isnt, imo, some overwhelming need to kick someone out if they have 1 bad week of trading, but if you are just some stagnant trader there is no point in wasting your time and propex's time.

I dont think you should really be worrying about such things, perhaps something better to worry about is how much money you got to make to be included in the top 30 under 30....

 

[jersey10]

what are the demographics of Propex in Sydney??

what percentage would be male?
what percentage would be under 30?
what percentage would be of non-australian background? (asian or european for example)?
how many people would work there in total?

 

[Largesse]

i'd also like to know what they usually eat for breakfast?
are they biased towards toast based breakfasts or towards cereals?
if toast, what do they have on their toast? jams mostly?

my mum always said jam has too much sugar in it

 

[Naked shorts]

i'd also like to know what they usually eat for breakfast?
are they biased towards toast based breakfasts or towards cereals?
if toast, what do they have on their toast? jams mostly?

my mum always said jam has too much sugar in it

You have got to be sh!tting me.

 

[Trembling Hand]

i'd also like to know what they usually eat for breakfast?
are they biased towards toast based breakfasts or towards cereals?
if toast, what do they have on their toast? jams mostly?

my mum always said jam has too much sugar in it

Hahahahaha

 

[RoszkoRR]

Would anyone perhaps have copy of the Optiver test saved on their comp that'd they'II willing to send me/post up? Their site no longer has the link for it.

Thanks guys

 

[rossw]

Would anyone perhaps have copy of the Optiver test saved on their comp that'd they'II willing to send me/post up? Their site no longer has the link for it.

Thanks guys

joking right?

a google should give you an idea of what's in the tests.
quick maths, plenty of sites to practise that on
even if you pass the test, the stuff they are actually testing is used day to day once on the job, so learning quick maths overall is much better than just learning whats in the first test

 

[rossw]

They also said it has taken some traders up to a year to become profitable, other 2 months.

which is why I chose not to take a job there.
was just about to get engaged and couldn't do without 6-12 months of minimal/no income