How to become a trader or a remiser?

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How to become a trader or a remiser?

Postby DM101 » Fri Aug 01, 2008 3:20 pm

What are the courses available for people who want to become a trader or remiser?
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Re: How to become a trader or a remiser?

Postby felixleong » Fri Aug 01, 2008 7:53 pm

yeah, I'm interested to know too
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Re: How to become a trader or a remiser?

Postby ohboy » Fri Aug 01, 2008 11:20 pm

mmm

I don't know, but i think my mom went for training before. Will ask when I next see her.
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Re: How to become a trader or a remiser?

Postby support » Mon Aug 04, 2008 2:16 am

To become a trader or remister you don't really need any background in business or econmics (suprise suprise!). On average Traders are usually those found in the engineering field.. not business.. as it's more towards Technical trading. Just think about it... if ur working on trading using fundemantal economics... u'll be doing 1 trade every 5mths... (easy life man).

Few things they look for ..

1) Young (and daring), new grads are welcome, any degrees are "ok" unless it's really wierd... age 22-25 preferred to start in this line.
2) Training is usually provided, my friends who were in this line had a free "world" tour of the major cities to understand the market, if ur in a SG brokering house scrap that... u get a sucky job training in SG.


Application is pretty straightforward... just send ur resume to a brokering house saying u want to train as a trader...

If your a remiser u perform trade for ur client (and advise them, but hell... i'll never take a remister advice, see above for reason.)
If your a trader you trade for your company/organisation/fund based on their strategy.
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Re: How to become a trader or a remiser?

Postby ohboy » Mon Aug 04, 2008 3:49 am

support wrote:To become a trader or remister you don't really need any background in business or econmics (suprise suprise!). On average Traders are usually those found in the engineering field.. not business.. as it's more towards Technical trading. Just think about it... if ur working on trading using fundemantal economics... u'll be doing 1 trade every 5mths... (easy life man).

Few things they look for ..

1) Young (and daring), new grads are welcome, any degrees are "ok" unless it's really wierd... age 22-25 preferred to start in this line.
2) Training is usually provided, my friends who were in this line had a free "world" tour of the major cities to understand the market, if ur in a SG brokering house scrap that... u get a sucky job training in SG.


Application is pretty straightforward... just send ur resume to a brokering house saying u want to train as a trader...

If your a remiser u perform trade for ur client (and advise them, but hell... i'll never take a remister advice, see above for reason.)
If your a trader you trade for your company/organisation/fund based on their strategy.



Actually that's only semi accurate. Trading style is not always technical. It all depends on the firm you're working for. Also, the broker's job is not to advise the client. More to the point, his job is to advise AGAINST the client on questionable trades. Brokers are not supposed to tell you to buy XXX. They give advice more along the lines of "are you sure you want to put all your money on XXX?" Giving advice on what trades to take is actually against ethics, since they profit from whatever trade you make.
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Re: How to become a trader or a remiser?

Postby felixleong » Mon Aug 04, 2008 8:41 am

i read that got 2 type of brokerage
full-service = higher commission but gives advise and u get access to more information which they provide
discount = low commission but no advise at all

right?
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Re: How to become a trader or a remiser?

Postby support » Tue Aug 05, 2008 11:04 pm

felixleong wrote:i read that got 2 type of brokerage
full-service = higher commission but gives advise and u get access to more information which they provide
discount = low commission but no advise at all

right?


Ohboy : I'm talking from "inside the industry". Of course there's by the book way but actual handling of trades is more to the "dark" side.
SG not too bad compared to other asian countries, i've seen cases of broker "churning" customer money in Taiwan and indonesia, playing on the ignorance of the
account holder. In stocks and share there's a larger pool of "Donkeys" then poker.

Um... yes and no... I can place orders through the broker and with or w/o advice he will charge his "premium" commission.
Self service (via POEMS etc) will be cheaper as u talk direct to brokerage.

Either way though... prepare for at least $20 charge.
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Re: How to become a trader or a remiser?

Postby ohboy » Wed Aug 06, 2008 2:26 am

support wrote:
felixleong wrote:i read that got 2 type of brokerage
full-service = higher commission but gives advise and u get access to more information which they provide
discount = low commission but no advise at all

right?


Ohboy : I'm talking from "inside the industry". Of course there's by the book way but actual handling of trades is more to the "dark" side.
SG not too bad compared to other asian countries, i've seen cases of broker "churning" customer money in Taiwan and indonesia, playing on the ignorance of the
account holder. In stocks and share there's a larger pool of "Donkeys" then poker.

Um... yes and no... I can place orders through the broker and with or w/o advice he will charge his "premium" commission.
Self service (via POEMS etc) will be cheaper as u talk direct to brokerage.

Either way though... prepare for at least $20 charge.


i am well aware of the unethical practices. I'm just saying you should be smart enough to avoid these cases anyway.
Also, you're just pointing out that talking to a live person is more expensive than placing trades via an electronic system, which is pretty duh. Nothing shady happening there. You pay more for live support. It's obvious. No need to start spreading conspiracy theories in an area already rife with them.

Also, brokers are not supposed to touch the money without permission. Brokers are the middlemen. Er yes, I'm kinda in the industry too....sorta.

So let's recap.
1) if you tell your broker he has free reign over your money, you're an idiot
2) unless you satisfy (1), the broker cannot do as mr support has described
3) since i can safely say Chris is not an idiot, this whole thing is moot.

On a side note, there is NOTHING wrong with making the customer pay 20k in commissions at the end of the day if the balance on the account is a 10k profit. That's like saying it's illegal to have any middlemen around. Or that all scalpers are idiots. I think if you start trading everyday, you'll find your balance sheet pretty similar.
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Re: How to become a trader or a remiser?

Postby newbie » Wed Aug 06, 2008 6:37 am

are you sure abt point (3)? ;)
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Re: How to become a trader or a remiser?

Postby support » Mon Aug 11, 2008 5:32 pm

On a side note, there is NOTHING wrong with making the customer pay 20k in commissions at the end of the day if the balance on the account is a 10k profit. That's like saying it's illegal to have any middlemen around. Or that all scalpers are idiots. I think if you start trading everyday, you'll find your balance sheet pretty similar.


As long as the customer doesn't complain, if they does usually the company will be punished thus the companies usually keep a strict lookout for the rogue brokers... Sometimes the company are the one paying the commission in "pip-rebates" (aka in forex). In such cases the "commission" of 20k will be investigated by the company and severely punished if the broker "rolls" the customer's account to eat commission off the company.

Point 3... i not too sure... :mrgreen:
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Re: How to become a trader or a remiser?

Postby Froggy » Sat Jul 18, 2009 2:11 am

just came across this thread. im a dealer so if anyone got any questions can ask me
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