Post Reply
1-20 of 23
Just to re-confirm, L& M mobile broker no quota meh?
rabbitfoot ( Date: 25-Dec-2010 12:48) Posted:
|
Brokers fortune rise and fall with the market
is mobile broker still an viable option ?
would it be correct to say success rate could be quite low seems 90% of trader leave the industry
30K deposit, a lot alreadi. better formulate a diversified portfolio at young age and live with a 30K dividends per annual. switch off like a king when one's old age !!
Actually for Lim & Tan's Mobile Broker, you can place a 30k deposit and operate from your own home. There is no trading quota requirement. A job for one's old age. It does sound appealing....
Definitions of Technical Analysis:
Rule 1: Everything is already built into the price.
Rule 2: Prices move in zig-zags and trend.
Rule 3: History repeats itself in time, place and pattern.
Joseph Granville
" Technical analysis is the art of tracking the market, following the footsteps of the "smart money" crowd. There is a readable pattern no matter what the guises, and the market has a set path to follow."
James Dines
" Technical analysis is the process of finding the significant patterns that best summarize the behaviour of people in the market. Charts not only tell what was, they tell what is; and a trend from what was to is (projected linearly into the will be) contains better percentages than clumsy guessing. Stock market success is not should be (a function of hope) but is (a function of pragmatic fact)."
John Murphy
" Technical analysis is the study of market or price actions, primarily through the use of charts, for the purpose of forecasting future price trends."
Simon Sim
" Technical analysis is basically statistical analysis and we are doing it in our everyday life; we learned it in schools and universities; the government uses it to forecast future directions and trends, the economists also uses charts to present and support their analysis. The difference between the pro TA and the everyday life TA is that the pro TA uses more advance mathematical techniques and statistical formula to smooth and filter the data ie the open, high, low, close and volume, and then project the data distribution into an oscillator, with some advance users converting the art into "black box" or mechanical and intelligent systems.
Feeling is subjective, fact is objective. The balance between subjective and objective analysis in trading is very important. A good trader feels the market but trade with the fact."
Remisier is about risk management, how you manage your client, what limit to give. The idea is to go slow, don't anyhow do road show, you do not know the clients you have enrolled. I heard that Phillip give one year grace for you to built up your client base. It is much easier if you are already trading yourself, better still you have relatives also trading. You prob earn earn your own brokerage maybe make some money in the process. Good Luck
Seen a number of mobile brokers setting out booths at shopping complexes recently
Ya...It is tough initially - it can still be manageable over those initial period 1 - 2 years (be prepare for volatile flexible income). A starter can reasonable earn some income from a low base of about a thousand to two/three thousand plus plus, even oneself is successful there after - have to slog through one man job, it's ur own business. In other words some may found success ($100k ++ to who know how much one can earn ?.), some may not be ($2k - 3k +)
More important is passion. communication and negotiating skill plus a senior (Remiser / Broker) around to see ur success during initial period. (collection of trade payment / debt / loan repayment).
If got one senior, might as well get 1st hand infomation from him / her, all about been a M.Trader.
A successful senior can get some assist from Securities house, but for starter...humm.
H
Well said. Looks like in S'pore, doing business is really tough, even being a mobile broker.
teeth53 ( Date: 26-Dec-2010 10:22) Posted:
|
For a day trader, it's fine - no problem trading in huge volume (everyone can win or loss, it our own money).
As for mobile broker working from home, pending your Securities house quota (buy/sell total volume), plus house rules (Securities deposit) and get pay - mean there is commission and collection of debt whuch mean oneself can act on behalf for several of your clients, like your own relatives names or close family living in others location.
Win or loss, it your money that is doing the trading, if and when others do trade with U as mobile Broker. U have to manage their money and yours in proper way (don mix it to freely).
Asking oneself, am i that sharp, that focus, that accurate, that flexible, that hardwork, none greedy, very dicipline and not tame for, or growing accustom to live with greed.
Are U able to slog through one man job, it is your own business and can only success through hardwork and through a network of your clients.
An 'pre-established' client base is vital when considering entry into a commission-based field...
Such a client base must have been built even before one enters the field of choice,
be it in insurance, real estate, stock market, or any other brokerage field...
Just a thought, But for a day trader, the client base is irrelevant. Is there any requirement for this ?It is too risky to depend on others for comm.
FearValueGreed ( Date: 26-Dec-2010 00:57) Posted:
|
ever try to become one but been advised by a experience broker not to since I have no client base.
Also saw my friend quit after few years in the line because he was the conservative type
So I guess to survive in this line, your DNA must be thick skin, able to network, able to give lobun, able to endure lull period and must be real hardworking and above all high EQ
Require to pass two modules stated by sgx ( if i remember), have to open a "shortist account" with minimum deposit of $30,000. It best to attend TASS course.
Technical analysts society (singapore)
Actually I read that Lim & Tan allows the mobile broker to work from home, which is a big plus. There is no quota, no min number of client base. See, you are just like a day trader to churn out your own comm, maybe for some relativrs or friends. It is well suited for those who are in upper mid-life and thinking of a career change, or sick of their current job and feels comfortable trading . Set some target. This year has been good for many investors, manage to squeeze 200k profit from stock market, so can keep re-investing and if switching from one counter to next, mobile broker can earn some comm at the same time. Sigh, but my other half objects and asks me to keep my so-so job.
Been a Remisier / Broker will have to be on top of this game calling, what it is call....Err.. maybe as new starter, oneself if possible, get a mentor or senior Remisier or broker to help and or assist u for a year or two years.
Is just like running errant for him/her (Likely is your BBs supporter wanted you and wish u some success) or those smaller retailer players can be pass over to you whereby you will know how to run around with all trader pro and con of been a Remisier / Broker, after that U be on your own liao.
Asking oneself, am i that sharp, that focus, that accurate, that flexible, that hardwork, none greedy, very dicipline and not tame for, or growing accustom to live with greed.
There's many success and as many unsuccessful, ask - Are U able to slog through one man job, it is your own business and can only success through hardwork and through a network of your clients.
A typical successful Remisier may need at least 5 -10 years to be successful growing it clients base in between high risk debt ratio collecting debt in million in loss trade and able to negotiate in between clients and your Securities house.
The mobile broker i heard of is philip capital. others not very sure. but one thing for sure is you must setup personal "net working" before becoming an broker, to have a list of customers. The down side risk may be customers "run road" and you have to chalk up the amount debted. when your networking is established, easily can earn min $100,000 per year, that could becomes the upside cheers. : )
Been a Remisier will have to responsiable for debt collection and to make pple's payup, make your clients bankrupt at the last resort, pay for your own securities deposit and rental of eqiupments from Securities houses, find your own customers, 12hours, sometime more then 12 hours working times, no sales and or no trade also no commission, no money.
Tough life for a start, can made it big or not ?, unless oneself is d next chosen Remisier amony d many.
Heard they (SGX) also wanted to considering, implementing trading even during lunch hours, oneself have to bear in mind. Noted lunch hours - 12:30 stop trading and it start trading again at 14:00:00