Prop Shop in Sydney?

[UltimateDouche]

Don't take rejections personally, and as far as I know if you are a good trader in any market, you are a good trader in futures. I don't agree with the fact that you have to have traded futures to have a distinct advantage. Risk management, money management, trading mentality and psychology is the same for trading of all products full stop.

If you were rejected it could just mean that some other candidates are more qualified than you, not necessarily that you are or will be a bad trader. Use your experience in the interviews and their feedback (if any) as something constructive to your path to be a successful trader.

All the best

 

[naked shorts]

They had 800 applicants this time around (the biggest they have ever had). Competition for a job at Propex is just getting more and more fierce.

This also explains why you shouldnt expect an email back from them going into detail about why they didnt choose you.

 

[Nitro5]

They had 800 applicants this time around (the biggest they have ever had). Competition for a job at Propex is just getting more and more fierce.

This also explains why you shouldnt expect an email back from them going into detail about why they didnt choose you.

800 applicants sound like a big number. How many do they normally get?
Do you know how many people had the chance to interview with Propex out of the 800 applicants? And how many do they hire?
I have attended a test in other prop trading firm, they said they will hire as many as possible as long as they have the qualities they are looking for (e.g. pass the test, attitudes, interviews). Is it true for Propex too?

 

[42* S]

800 applicants sound like a big number. How many do they normally get?
Do you know how many people had the chance to interview with Propex out of the 800 applicants? And how many do they hire?
I have attended a test in other prop trading firm, they said they will hire as many as possible as long as they have the qualities they are looking for (e.g. pass the test, attitudes, interviews). Is it true for Propex too?

People are missing the point a little here . the reason that they can be so picky as I explained before is that there are plenty of traders out there in Sydney or other locations that trade Asian / eurex whatever that are already profitable . those traders are getting positions with preference .

for those who feel that you are ok trading any other mkt & you will know how to trade a specific futures Mkt be it the SPI , Dax , Bund , whatever good luck . They will find out the hard way

regardless of all the above Propex is a very good outfit and anyone who gets the chance to trade there should take it . If you don't there will be someone else who will. & if you don't get the ball's to open an account and do it yourself .

 

[white_goodman]

They had 800 applicants this time around (the biggest they have ever had). Competition for a job at Propex is just getting more and more fierce.

This also explains why you shouldnt expect an email back from them going into detail about why they didnt choose you.

800 WOW!

looks like im out lol

 

[John_Galt]

will just add that they are a decent shop, as 42 * S stated. They gave me a look in even without a degree. IMO what they want for a trainee is someone smart, uni educated & motivated - history of excelling in sports or business would help. But on top of that you gotta have the dosh to stay there and make it obvious that you have enough staying power to give it a proper go.

most people who "try" trading won't get anywhere near to what they do (try stare at a DOM 8 hours a day and maybe a few more hours of reviewing trades, videos of your trading, statistics and market info). nothing like position trading or buying off so-called "technical analysis". I traded this way for 3 years before going to Propex - and built a decent stake, after i was rejected I tried my hand at trading eurex fixed income (bund, schatz) and the ES - very quickly proceeded to blow half my account. It is a whole new learning curve like 42*S said.

If you are trading frequently enough intraday with positive expectancy on sim or live then your chances would be better. Still, show some of the previously stated qualities and they will take you given that there aren't 10 other guys with the same qualities who are trading with a positive expectancy on the sim.

hope that hel;ps.

btw last time I was in there were 500 and I made it to first interviews - I was the only one without a degree in my group. They are not like your typical firm!

 

[white_goodman]

hope that hel;ps.

btw last time I was in there were 500 and I made it to first interviews - I was the only one without a degree in my group. They are not like your typical firm!

helps alot thanks for the info, i seem to fit all those categories except the years of live experience.... worse comes to worse those of us that dont make it will just have our trading education a little slower and will have to trade from home, hopefully successfully...

good luck to all that try.

 

[mike12nv]

800 applicants sound like a big number. How many do they normally get?
Do you know how many people had the chance to interview with Propex out of the 800 applicants? And how many do they hire?
I have attended a test in other prop trading firm, they said they will hire as many as possible as long as they have the qualities they are looking for (e.g. pass the test, attitudes, interviews). Is it true for Propex too?

Which firms are you talking about that hire as many as possible.
I may need to give them a go.

 

[42* S]

will just add that they are a decent shop, as 42 * S stated. They gave me a look in even without a degree. IMO what they want for a trainee is someone smart, uni educated & motivated - history of excelling in sports or business would help. But on top of that you gotta have the dosh to stay there and make it obvious that you have enough staying power to give it a proper go.

most people who "try" trading won't get anywhere near to what they do (try stare at a DOM 8 hours a day and maybe a few more hours of reviewing trades, videos of your trading, statistics and market info). nothing like position trading or buying off so-called "technical analysis". I traded this way for 3 years before going to Propex - and built a decent stake, after i was rejected I tried my hand at trading eurex fixed income (bund, schatz) and the ES - very quickly proceeded to blow half my account. It is a whole new learning curve like 42*S said.

If you are trading frequently enough intraday with positive expectancy on sim or live then your chances would be better. Still, show some of the previously stated qualities and they will take you given that there aren't 10 other guys with the same qualities who are trading with a positive expectancy on the sim.

hope that hel;ps.

btw last time I was in there were 500 and I made it to first interviews - I was the only one without a degree in my group. They are not like your typical firm!

John Galt for once someone who is on the right track the vast majority are way behind the curve . But let them continue on their TA oops I mean merry way
It is not pretty watching a ladder all day but stick at it

 

[Nitro5]

Which firms are you talking about that hire as many as possible.
I may need to give them a go.

Last time I went to a trading firm to do the test. Someone asked about how many people are they hiring. They replied "if you all pass the test, you all will be invited to the interview and if you all perform well in the interview and you have the qualities we are looking for, we can hire all of you. We can hire as many as possible, but it's very hard to find someone who have the qualities that we want."

I don't know if I could say which firm, but I can say it's one of the firms offering attractive based salary for graduate traders.

 

[Nitro5]

And let me add to my previous post. That's why they asked people not to re-apply if they fail. Because, they tend to see the person's ability, qualities and attitude in the interviews. They don't really care about what you know about trading. They want ultra smart, bright and extraordinary people. If you are not, then probably you won't be in the near future. And also it's not fair to other applicants, if you can see attend the same test and/or interviews twice.

 

[argyface]

interesting thread

suprised a little at the size of propex. saw the website and expected one room of 20 traders or something. 800 applicants eh?!

would be interested in hearing more from the fella who posted having been there for 18 months. what markets people are trading... the size of the firm... the turnover... the IT support... how many are self backed and how many backed by propex

curious as somebody who may apply there at some point in the future

posting at the wrong time of day though i guess.....

 

[amb005]

Great Thread

Great thread, I am in a similar boat as the original poster. I have been working at a margin lending firm for about two years, and have been trading non stop for the last 5 years (before work, at work, after work!) I love it, nothing I would rather do, so Im looking to get into it full time . I have actually quit work and Im just trading for myself at the moment but would love to work with like minded people and learn as much as I can. This thread gives a great starting point , cheers,

 

[grant_3103]

Propex has continued to exapnd its product range, the HSI is now offered on GL which brings the brokerge down to be a litte more manageable (still insanely high). The KOSPI should be coming soon, some of the most recent group of trainees are likely to be trading it live very soon.

From what I understand there will probably be another intake later this year (I think more towards oct/nov).

As for AngryFace, there are about 30 traders (with differing levels of experience), some remote guys and the newest group of trainees. No one is self backed (they do not allow ppl to do that, even though several experienced guys could do it if they so wished). The spread of products includes the SPI, Aussie bonds, HSI/HHI, NKI, some TW, a little EUR/JPY/GBP (futures only, a spot platform is a "possibilty" in the future) and some E-mini.

As for turnover, unless you run over your stop on a regular basis or do something totoally retarded, they are very happy to give ppl the chance to develop and grow. Unless you have a very strong track record, you won't be considered to come in as a trader, you would have to look at the training program (don't ask me won't type of track record is required, but it would have to be verifiable and probably come from another prop shop or IB).

As for IT there is one full time guy who is good at what he does. The technical side is quite solid and not really an issue.

 

[white_goodman]

so your saying trainees will still have to have a solid track record?

 

[argyface]

Propex has continued to exapnd its product range, the HSI is now offered on GL which brings the brokerge down to be a litte more manageable (still insanely high). The KOSPI should be coming soon, some of the most recent group of trainees are likely to be trading it live very soon.

From what I understand there will probably be another intake later this year (I think more towards oct/nov).

As for AngryFace, there are about 30 traders (with differing levels of experience), some remote guys and the newest group of trainees. No one is self backed (they do not allow ppl to do that, even though several experienced guys could do it if they so wished). The spread of products includes the SPI, Aussie bonds, HSI/HHI, NKI, some TW, a little EUR/JPY/GBP (futures only, a spot platform is a "possibilty" in the future) and some E-mini.

As for turnover, unless you run over your stop on a regular basis or do something totoally retarded, they are very happy to give ppl the chance to develop and grow. Unless you have a very strong track record, you won't be considered to come in as a trader, you would have to look at the training program (don't ask me won't type of track record is required, but it would have to be verifiable and probably come from another prop shop or IB).

As for IT there is one full time guy who is good at what he does. The technical side is quite solid and not really an issue.

cheers grant

pretty small from what im used to but then that shouldnt need to matter really... so long as the support are good.... i shall be contacting them at some point in the not so near future :shuriken:

 

[grant_3103]

what i meant, is that if you have a solid verifiable track record, you can come in straight as a trader. If you have only a short time trading or no record at all (like the majority of trainees), you then need to come in through the training program.

No probs Angry

 

[markies21]

How much can traders at Propex make?

What is a realistic expectation? And what is possible after a few years?

 

[white_goodman]

question... say I apply for propex and make it through to interviews and not make it? will that mean I cant reapply again?

the reason i ask is am I better to wait for me to finish my uni undergradthis year and maby a year of postgrad next year whilst improving my trading over this time.... or do I apply later this year cos all that stuff wont matter?

 

[naked shorts]

question... say I apply for propex and make it through to interviews and not make it? will that mean I cant reapply again?

the reason i ask is am I better to wait for me to finish my uni undergradthis year and maby a year of postgrad next year whilst improving my trading over this time.... or do I apply later this year cos all that stuff wont matter?

Yes you can reapply if you dont get in the first time.