Trade Firm’s Capital Instead of Your Own!

ColinRiche

Well-known member
284 3
http://www.fxcm.com/proptrading/

Traders from remote locations are encouraged to apply!

• Trade firm money!
• No money down!
• Generous 50/50 profit split!
• Unlimited income potential!
• Trading facility and tools available!

FXCM has developed an innovative trading opportunity for active amateur traders to trade firm capital. If you trade frequently on an intraday basis and achieve profitable or breakeven results this is your chance to become a professional trader with other people’s money.

Qualifications: FXCM's objective is to find and develop the best new forex trading talent. We are looking for active professional traders (and those that want to be professional traders), with profitable or breakeven trading records in futures or forex. In addition, candidates must be able to show a sound trading strategy and risk management.

Description: FXCM has an ongoing venture with some large hedge funds and proprietary trading firms that are looking to find and develop new trading talent. Currently there is enough capital for the initial allocation of 400 traders and growing. Traders are not required to trade their own capital. Traders will be employed directly by the hedge fund or proprietary trading firm to actively trade the firm’s capital at FXCM. Initial allocation varies according to each institution with a minimum of $10,000. The better a trader performs.... etc. etc.

I'd be interested in comments on the above..... :rolleyes:
 

Skimbleshanks

1
2,325 16
It's the cheapest way to employ traders, and saves on the agency fees. :D

Notice that they want to see a 'sound trading strategy and risk management' from candidates. Hmmm ... perhaps they want some new trading ideas for themselves. :cheesy:

But please ignore these comments as I'm cynical and can't help reading between the lines. :D
 

rglenn

Well-known member
379 4
I'am a bit like Skim

A bit skeptical-I hope they are not trying to pinch peoples trading ideas.

I am quite happy trading with my own money-and I don't need to share my profits with anyone apart from my wife that is!
 

ColinRiche

Well-known member
284 3
i think its a lot simpler than that......

Sounds like a numbers game to me.

its in peoples interest to make them money
and as they have already shown some success then
lets assume that 50% of people lose everything.

Then for break-even they would need the other 50%
to double the money any thing more would be profit

Naturally the higher the success rate the higher the profit


Seems like a good plan to make money to me..... ;)

and there's no effort on there part just the risk of money

i cant think of a better or cheaper way of recruiting fund managers

Colin
 

oatman

Senior member
2,879 22
There's no mention of "overheads". These types love to pile them on. Office space, desk, screen, you name it they've thought of it!
 

hunter

Newbie
4 0
Burn clients and tarnished traders reputations

The problem I found with trading for market makers like fxcm and a couple others is that they make you to churn accounts to rack up volume, wile at the same the market makers make the lions shear on fees while you the trader get the bad reputations then they drop you. I know this first hand from trading with them I was asked to switch my stile from 4 to 6 trades to 18 to 20 trades a day, simply to build on the fees!! When I refused they took all my accounts away, so trust me when a market maker gets into the management business their can be nothing good to come from it other then for the market maker them selves :eek: .

I'm currently much happier working for an independent management firm that very good to both the traders and clients.. It's a welcome change to not have on my mind that I'm burning the clients along with my name.. :D
 

ColinRiche

Well-known member
284 3
Surely if you can only see 4-6 good trades a day then thats all you can see - to be pressured into lots more trades is sure recklessness and likely to lose money
 

neilcharlton

Junior member
43 1
This sort of deal is really common in the states , some better than others . These guys have so much money and little trading talent. I once met a guy who was allowed to keep 100% of the profits as he traded so much and generated huge commissions.
One guy i know of broke even one year and they still give him his massive bonus !!

My company is in negotiations to trade $1million of a firms money using an equity hedging strategy, with a profit split.

We used to trade with another firm but they dicked with our stratergy , so we stoped !

Neil .
 

Andreas

Active member
109 0
Maybe they reckon "80 - 90 % of traders lose money", let them trade their account, and we take the opposite trades with the big money ;) . Just joking, but as advised by a broker friend of mine in the US, it has happened before LOL !
 
 
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