road map to become a trader
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Benny Neo
Jun 16, 2013, 2:14:01 AM6/16/13
to Benny Neo
Hi theezen,
Good to hear from you again.
Answer to your following questions as follow in red.
1. If I take the option 2 and invest probably around 2K-3K and trade for
myself, am I still able to help my friend or need to work fulltime for that
organization? Honestly speaking I want to be a part time trader.
myself, am I still able to help my friend or need to work fulltime for that
organization? Honestly speaking I want to be a part time trader.
Yes, there is no restriction what you want to do beside trading. You can continue to keep your job if you choose to.
2. Which broker I should use to trade? I have few of my own preferred
brokers most of them are from UK like FXCM, FXPRO, OANDA, DUKASCOPY.
ALPARI. .
2. Which broker I should use to trade? I have few of my own preferred
brokers most of them are from UK like FXCM, FXPRO, OANDA, DUKASCOPY.
ALPARI. .
The hedge fund will want all participants to open and trade with a broker their traders are trading right now. Also, they will need to access to your 3 months trading record to see your trading style, risk management etc..
3. Is there any monthly target involved? In case if I could not meet
monthly target will I still get paid? There is no monthly target for selected traders. The last time when I introduced one student to them, I heard from the fund management co mention, they are happy if trader can make 5% a month profit. The profit sharing likely to based on water mark, meaning to say as long as you make profit on the fund assign to you, you will get pay. If you make more profit for the account, you get more profit. I understand the profit sharing is in the range of 20%-30% as the trader promote to fund manager position and lead his/her own team.
4. I used to trade with standard lots, if I invest 2-3K am I still able to
use standard lots and I allowed to withdraw funds from my account?
3. Is there any monthly target involved? In case if I could not meet
monthly target will I still get paid? There is no monthly target for selected traders. The last time when I introduced one student to them, I heard from the fund management co mention, they are happy if trader can make 5% a month profit. The profit sharing likely to based on water mark, meaning to say as long as you make profit on the fund assign to you, you will get pay. If you make more profit for the account, you get more profit. I understand the profit sharing is in the range of 20%-30% as the trader promote to fund manager position and lead his/her own team.
4. I used to trade with standard lots, if I invest 2-3K am I still able to
use standard lots and I allowed to withdraw funds from my account?
You fund whatever amt you like, min USD2,000. Yes, you are allow to withdraw your own money any time you want because it is your own money. The idea for the live account is for the hedge fund to see your trading style with own money, how you manage your risk. Because once you are selected to trade for their fund, they want you to trade the same style as if you are trading your own money.
Rgds
Benny
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