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contra loss-no money to pay, what will happen ???
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tanglinboy
Elite |
21-Aug-2007 21:07
Yells: "hello!" |
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anyone know good remisers? Can intro here? |
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Pension
Elite |
21-Aug-2007 19:54
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if no money to pay, few things you can do, declare bankrupt, borrow from your boss, borrow from finance company, borrow from your friend, borrow from your remiser etc |
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Pinnacle
Master |
21-Aug-2007 09:43
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Yes, remisers are just like property or insurance agents. Remiser need to study, take exam and pass many papers to get their license. Basically, remisers need to look for client too, to have account and trade with them. If just depend on brokage firm to allocate, they can still survive in bull market. But in down time like now, where trading vol is dead low, they really eat themselves. Btw, the different between remisers and property agents and similarity with insurance agent is, remiser can trade for themselves to make kopi $$$. Just like insurance agent buying policies for themselves, gf, wive, family to met target. Don't think property agent can buy houses to met target though... 
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sohguanh
Veteran |
21-Aug-2007 09:25
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Wow then they are indeed their own boss!!! Now I presume the $500 include pantry, use of water from water cooler, CafeBar coffee, tea, milo, toilet paper inside, pen, pencil, pencil sharpener, punch-hole equipment for filing, binder files, notepad also assuming there are one in the first place? :P |
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Pension
Elite |
20-Aug-2007 19:46
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I think they have to pay $500 monthly for table, chair, trading monitor, phone line and use of the toilet. |
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sohguanh
Veteran |
20-Aug-2007 16:57
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Pinnacle: then their profession quite similar to housing or property agents wat. the minority are the ones living it up. the majority are struggling to make ends meet or making break even or earn abit more. NO welfare benefits means they better take good care of their health which means they muz be very prudent in their spending i believe the turnover rate is as high cuz basically such commission based job follow similar concept and play and that is trade then got monies earn. no trade they eat air? :P |
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Pinnacle
Master |
20-Aug-2007 16:45
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A good remiser who is successful is able to give accurate infor on buy/sell call, and also has wide network base to gather internal information on 1st hand news. He will also has wide client base who trade actively with him, bcos the remiser gave 1st hand news. He himself enjoy special brokage commission rate for self trading. Well, we do see a few very successful remisers who living landed property and driving convert. They earn commission no matter you buy or sell. Some towkays even give fat angbao when the news help them to make big bucks. So don't sell their life too negatively. |
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sohguanh
Veteran |
20-Aug-2007 15:22
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Pension: the best answer is some real life practising remisiers post in this forum to answer our queries :) |
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Pension
Elite |
20-Aug-2007 15:15
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whenever there is placement share, remiser grab first before you, I think they make lot of money out of placment share. Agree? |
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sohguanh
Veteran |
20-Aug-2007 15:09
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btw remisiers no monthly salary means ownself top up his CPF har? then buy house and kids go local Uni how? pay cash? then sick go see doctor or polish teeth and annual leave all dun have? maternity leave? paternity leave? childcare leave? all dun have??? like that kind of job still got ppl wanna do? for wat? :O be an employee stable income and welfare benefits better leh. remisiers is like be your own boss like tat. cannot do well close shop liao!?!?! |
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sohguanh
Veteran |
20-Aug-2007 15:05
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wat is remisiers ownself also not enuff monies to pay for client loss leh? sue client together with brokerage firm? like tat also no use as the client at worst become bankrupt. so can i assume remisiers muz have some backup capital to temporary pay up for client losses? remisiers this line not easy to do leh. they juz like housing agent earn commission. lui pai tan leh but if good times is tan until bey ling chu !!!! :P |
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taybc1071
Senior |
20-Aug-2007 15:01
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Remisiers rely on commssion, they do not have fixed salary. When their clients lost heavily, especially contra players,they, too, lost hairs and sleep. I was told that the only solution is to ask their clients to pay by instalments to them as they have to pay upfront for the losses. Suing them will not help. |
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sohguanh
Veteran |
20-Aug-2007 14:26
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Remisiers no fixed monthly salary? They depend only on commission? Like tat can eat grass already. I tink they themselves also muz play abit of shares else how to reward themselves their monthly salaries? But if remisiers got super rich and active trading clients than commission earn until cannot recognise home correct? :P |
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Manikamaniko.
Master |
20-Aug-2007 14:26
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The problem is... |
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ruanlai
Master |
20-Aug-2007 14:18
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If you incurred of more than 20K, better delcared bankrupt than pay up.....Anyway after 5 years, u will be recovered...... |
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Happyseah
Senior |
20-Aug-2007 14:08
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Trade within your means. Don't get yourself and others into trouble... |
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alexmay
Veteran |
20-Aug-2007 13:50
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What Pinnacle said is right. Why should your remiser shoulder your losses. When you win $, the Remiser just take a fraction of the brokage. Every $1 brokage you pay, the remiser get 0.40cts.. The rest go to the brokage hse. Why do you think the broking hse need remisers? They are scape goats. If you don't pay him, his losses is going to be huge, maybe few thousands or more. He would rather lose a non credit worthy clients than to lose big $ He can do a few things, force sell your shares if you always don't pay on time. If you contra losses is small, talk to your remiser to come out with repayment schedule. He may agree or may not agree. If you don't pay up he can delinquent your account, you would not be able to trade hence forth. He can with the help from the hse, sue you. In the process u may be made a bankrupt. Once account is delinquent, banks would not lend you money if u need it in future, bec it stays in your records. your credit worthiness will be in question. So always trade with the money you can spare to lose, or have money to pick up the shares. Contra plays are opportunity plays, you don't buy and sell on contra basis as a norm. |
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Pension
Elite |
20-Aug-2007 13:47
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I think the mood of the remisers in most broking house is sombre. I think their account dept is chasing them for their client contra loss payment. Their client run away and they suffered loss in their own trading and bear the cost for their client for default, worst of all , they are not paid a salary. |
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Pension
Elite |
20-Aug-2007 13:01
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I think many small time investors are under ICU, some sell car and downgrade their house and other declare bankrupt. For those still survive and kicking, I advise you guy trade with care and dun over expose. Market today is for BB, they push it up very high over small volume trade and when you enter, they going to pass the hot potatoe to you. Let them play among themselve and enter the market when it is stablised and BB run out of steam. |
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zhuge_liang
Supreme |
20-Aug-2007 12:40
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Try and arrange instalment payment with your remisier. |
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