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i want to be a dealer, who can answer my question
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kiwi77sg
Member |
27-Jan-2008 23:21
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Hi alexmay, I am preparing for the M1 & M6 exam, do you know where can I get those past year exam questions ? |
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Manikamaniho
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27-Jan-2008 11:41
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As a remisier or broker, if they conduct trading courses (independently), there will always be a market. |
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pikachu
Veteran |
27-Jan-2008 11:31
Yells: "Holy Cow!" |
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In times like this when trading volume and interest in the stock market is waning, how can stockbrokers and remisiers earn a living? |
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mike8057d
Veteran |
25-Jan-2008 15:52
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can you pay for your own license? |
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alexmay
Veteran |
25-Jan-2008 15:35
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To be a dealer/Remisier you must fist pass Module 1A and Module 6 exam at the MAS, go to IBF website. This is a mcq, computer base exam. Thereafter you register with a broking house. Note that you may have to sign a bond. bec the House pays for your license. Take note that you will have a quota to meet. i.e. 300k turnover for a month. You are paid via the brokages collected I think it is 40/60. You 40. If you clients runaway, its you baby, you shoulder whatever he owes. Very high risk considering you only get 40% |
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mike8057d
Veteran |
25-Jan-2008 15:25
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ten4one.....wow, very chimm ah |
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ten4one
Master |
25-Jan-2008 05:17
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Hi asleep, I do agree that it is important to know yourself when comes to Tradings or Investments. It is also very important to know that if you can't afford to lose and you want a good nite sleep, don't get involve in the Stock Market. It is also good to understand what you know - knowing without understanding is as good as not knowing! Cheers! |
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Livermore
Master |
24-Jan-2008 19:49
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The shift in economic power is gradually shifting from the west to the east and Singapore is right in the middle of Asia. It is not just Asia. Look carefully at what is happening in Latin America and Russia. This US economic slowdown was already happening last year but has the job Recruit papers getting thinner? Singapore's economy is expected to do reasonalbly well despite the slowdown in the US. However exports to US will suffer. This US slowdown is not quite a economic cycle that had to happen. If you analyse carefully what has happened these past 8 years in the US, one can see what went wrong. |
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Livermore
Master |
24-Jan-2008 19:20
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Hi Parkings, Some advocate economic cycles. But one must remember that 8 years ago, China was not the 4th largest economy in the world but now 8 years on, it is on the verge of overtaking Germany as the third largest economy in the world. By 2020, China's economy is likely to be number 2. Circumstances change in the world. What happened in the past may or may not necessarily happen again. But I agree that the person who times the market right and holds for long term for good stocks will reap tremendous profit.Sometimes the most boring way of investing gives better reward. |
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asleep
Member |
24-Jan-2008 17:24
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Actually, it will be best to do a psychology test and find out what kind of person you are. Are you those kan jeong spider who will react to any small little thing or those super calm or i would say bo chup attitude. By knowing yourself better, then you can choose the best strategy to trade. Obviously Parkings know himself ( wants to have a good nite sleep everynight and cannot afford to lose) therefore, he chose investment as a good way to trade. If you are the opposite of him, highly aggressive and always wanting to be in the heat of the action all the time, then you might consider intraday speculation. If you are somewhere inbetween, you can choose swing trading (15 trading days) and position trading ( 1 mth- 6mths). Its all up to the individual's personality. |
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ten4one
Master |
24-Jan-2008 17:13
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Yup, totally agree that there isn't a 'one size fits all' strategy and there is also no such a thing such as a safe way to trading or investing. If you want a safe way, the Stock Market is not the place to park your money. There is always risks in the Stock Markets - no doubt about that! Cheers! |
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Younglady
Member |
24-Jan-2008 16:15
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hahaha. correct. I agree with u now. Everyone got own trading style. thats y i nv get too impatient into entering the industry. I want to see see look look and hear hear. My ultimate motive was to go in, be dealer for 2 years coz they force young dealer to get bond unless u r not good in it, they force u leave. My intention was to move on to investment banking when i get my degree in 2 years. study sim UOL, how u think of this career transition. Now, is to master all things related to trade, then go into fund management, or back-end on investment banking. What i understand is that unless u got very good degree with honour if not u will not get an offer in banking or securities. Secondly, is to get an experience b4 my degree, then can move into securities or banking or kind of like credit analyst for banking. They will place u on upper hand more ma, with related experience. I go through all job requirement for banking securities or private securities, they only take in people with experience leh and also good for related to securities trade lor. How how, anymore ideas u can give based on what i wanna do for my career advancement. In fact, I am doing now as financial consultant. Last time get in, tought there was opportunity to touch on investment, hahaha. Went in, nv know, its just unit trust only. Will not go far leh. Any other place, u think i can go. |
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parkings
Member |
24-Jan-2008 14:22
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Agree with mike. There is no best trading style. To each his own. There are many remisers with different ways of trading. For me, I prefer the safe way. Most imp, can sleep well at night and be happy. Younglady, i am like you when i graduate from U with a banking & finance degree in 99 but did not end up in finance industry. Lots of friend working there and as remiser and dealer, mostly quit cos too stressful and when market bad, your ac seem more red than green and heard some cust ran away. |
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mike8057d
Veteran |
24-Jan-2008 14:15
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there is no BEST trading style. and even there is, today might be the BEST but tomorrow is outdated. What works for you, and make money for you...then use it. Cheers |
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mike8057d
Veteran |
24-Jan-2008 14:13
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parkings' strategy works .... others might have other strategies that work for themselves. |
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Younglady
Member |
24-Jan-2008 13:08
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I unable to find the threads too, thats y i start a new one. Paiseh. Thanks for all ur opinion. I also find Parkings abit too safe le. Like that may as well buy unit trust leh. Better still. If not, buy stock u got to ride on wave is got to wait long long time. I want to know how dealer life is like, get a feel of how dealer does trading...... I am in mid-20s so i thought if wanna learn trading to move on to fund manager or assistant or related to investment. This is what i interest, but I am afraid there may be some bad point like females cannot be trader coz indecisive or timid. hahaha I not sure whether it is like that. I will move on but wanna know the difference as usually u will not see such people anywhere on the road or whom u know. I want to learn the rope and do investment. I really want to start to learn deeper in trading and analysis. I am more than willing to learn, but need to know some pros and cons. |
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Centaur
Veteran |
24-Jan-2008 09:42
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Well, to each his own. Best to find the trading style that u are most comfortable with. 
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ten4one
Master |
23-Jan-2008 20:31
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Hi Parkings, looks like you gonna wait until thy Kingdom comes leh! After 5-6 years there'll be another cycle and you wait again, then another new cycle in 4-5 years.....and then again you wait.......another cycle.......! Cheers! |
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parkings
Member |
23-Jan-2008 16:42
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Well, there is good and bad about trading whether u are a remiser or a dealer. I want a good night sleep and everyday be happy. If STI is 1800 and there is still volumne on trading, forget it. It is most likely to fall again. If STI has not moved for a few months and volume is very little, then time to buy and keep. Then wait and wait. What goes up must come down, what comes down must goes up, it is a matter of time. My less risky way of trading. |
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AK_Francis
Supreme |
23-Jan-2008 11:55
Yells: "Happy go lucky, cheers." |
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Previously, when there was no On-line trading, the remindser got good commission from client's trading. But now, On-line trading client pays less commission, though the remindser will get some share of the commission, but much litter already. On the otherhand remindser will get much income when there is bull run and he has many clients. If not taking the dealer is much less pressure but if can't get clients, the coy will ask you to leave as well. Cheers. |
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