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Prop Shops in Australia

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rossw said:
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
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see that would be ideal for a yuong guy like me with no responsibilities... hmm hopefully theyll accept me for tests in september
 
white_goodman said:
see that would be ideal for a yuong guy like me with no responsibilities... hmm hopefully theyll accept me for tests in september
Click to expand...

sounds like a good position to be in. their testing wasn't too hard. easier than with the options guys
if i knew about them a few years prior it would've been nice

i'm not that old but i don't think my new wife fancies being a suga mumma while i earn no income for a while. so sim trading / saving and maybe a bit of dax trading after hours seems to be the plan for now


RoszkoRR, i was probably a bit blunt last night. i just meant that it's better just to have quick maths skills overall than worry about 1 trial test that was previously on their website.
 
Places like Optiver, Tibra and Propex are completely different.

They are looking for completely different qualities I would say.

Just don't go into Optiver telling them you want to trade discretionary and don't go into Propex talking about quant trading and market making. Neither, will get you anywhere but out the door quicker than you came in.
 
rossw, I understand exactly what you mean. I'm in my final year of uni at the moment and just wanted an idea of what type of maths they were testing, especially since at places like Optiver its a once in a lifetime opportunity so to speak (i.e. either you pass or they'ii tell you never to come back again!)

But I will definitely be honing upon my mental maths and hopefully sit for a test in the second -half of the year, whether it be at Optiver, Propex, LCM and/or Tibra.
 
just keep an eye on seek etc for when they're doing testing

if a market maker is any good they'll still be growing now (and hence advertising), even though the liquidity has dried up
 
what amount of employees do these companies such as propex typically have?

I heard that 500 applied for propex for the February intake...
 
what's lots? a general idea of how much?

be nice to compare it to the offer i received.

how much of the lots do they get to keep?
 
Stormin_Norman said:
what's lots? a general idea of how much?

be nice to compare it to the offer i received.

how much of the lots do they get to keep?
Click to expand...

Ok best way is to talk to them. Its not all about the amount traded, as my post #75 tried to explain.

From what I have seen max position size for a live trainee is around $150 a tick to start. From there you need to earn size.

Prop normally starts at 50/50.
 
when i got offered a job there (about 1.5 years ago) it was to start with 2 contracts and 50/50
profitability will get you more size
and consistent profitability will got you a better split
 
White_Goodman
You heard wrong. 500 was the Aug/Sept 07 intake. That's what the guy who told you meant to say

I imagine even more than 500 tried for Feb 08!
 
and how many ppl work there? less than 100? kinda depressing its really the only discretionary trader in Sydney that takes trainees...
 
white_goodman said:
and how many ppl work there? less than 100? kinda depressing its really the only discretionary trader in Sydney that takes trainees...
Click to expand...

About 20 - 30 last time I was there.

There is also Fusion - if you can trade index futs
 
they can be very selective in their recruitment then!

i dont think i could handle the pressure, nor the egos of my fellow traders. those rooms must stink of testosterone.
 
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