Propex have developed a new simulation program that involves extensive online appraisal of trainee trader applicants.
The program involves:
- Week 1: Prep and Set-Up Week. Here you will be given reading material on various styles, markets and approaches. Your job is to devour it. We'll also use this week for setting up the software you will use for trading on our simulator program. You'll need a decent PC with two screens (PC only, no Mac).
- Week 2: Drills Week. Here you work through a series of trading exercises. You will need a minimum of several hours per day to be actively involved. The more time you can dedicate to these drills the better. The rules of each drill are very simple, but most (if not all) walk away from the week learning quite a lot about active trading and scalping.
- Weeks 3-6: Trading. This period may include more drills and exercises, but for the most part these weeks are about you to finding your trading style. During this period we look for improvements in consistency, focus, risk control and profitability. We will track P&L and trading style. We show you the markets to trade and the general approach expected. Your job is to take that information and find good trades.
- Beyond week 6+: Those showing promise on the simulator will be invited in to our Sydney, Singapore or Gold Coast office for an interview with a view of joining us in-house. Being in-house will involve some further simulation time of up to 4 weeks. Over this time, we like to see healthy activity, consistency and a bias towards profitability in our chosen markets. Being in-house also offers you mentoring from our traders and mentors. After this trial period, you may be offered a full time trading position with us.
Selected applicants receive access to a member's only site where guidance, instruction and training is received. However it should be stressed, the interaction here is limited.
This is not a 'training' course. The process is designed for those that are ready to demonstrate their trading skills to us and be selected for an in-house position. We expect applicants to have some degree of trading experience and knowledge, although not falling under the 'experienced trader' category. We are looking for trainees with some experience.
Before applying you should read our 'Get Started in Proprietary Trading' page and the trainee trader FAQs below.
Our program should be seen as the beginning of a trading career. Upon successful completion of the program, traders will be funded with a live account. Live traders are expected to be located in one of our offices – Sydney, Gold Coast or Singapore. Remuneration is by way of profit share.
Within our offices, we provide traders with the best facilities and support network to build their trading careers. Our management team has decades of experience in all facets of the futures industry and have been funding successful traders for many years.
To apply online, please follow the link from the home page.
Trainee Trader FAQs
Please read the following before applying with us.
Q: Who is Propex?
Propex Derivatives is an Australian owed proprietary trading firm with offices in Sydney, Gold Coast and Singapore. The company holds an AFSL and is a member of the Sydney Futures Exchange. Our management has many decades of combined trading and market experience. Propex currently funds the trading of over 60 traders.
Q: Who runs the training?
Guy Bower runs the online training program. Guy has close to 20yrs financial market experience including active funds management, broking and training.
Don DiVincenzo runs the formal in-house training. Don has been a successful trader for many years and enjoys sharing his knowledge to the traders of tomorrow. Once in-house our trainees have access to other mentors and traders.
Q: How much does training cost?
We have an online training course that is provided for a fee (www.PropexTraining.com). However those we select as Trainee Traders do not pay for any training. Likewise, trainee traders do not receive a salary while they are being trained. It should be noted, we are not here simply to train people and see them move on. Our goal in training is to see people trade for Propex. You should only apply to Propex if your intention is to trade with us full time.
Q: Are there prerequisites for applying?
Yes. Read the 'Get Started in Proprietary Trading' page.
Q: What about PR and citizenship? Will Propex sponsor traders for Visa?
We do not sponsor our trainees for their Visas. All trainees need to have the appropriate Visa or PR status before joining us in-house.
Q: Once trading with Propex, how much money do I get to trade?
Trainee Traders are given generous contract limits in the market(s) they trade. These limits are continually increased in line with the trader's success.
Q: How am I paid?
All traders at Propex are paid by way of a generous profit share. That is, they earn a share of the profit they generate from their own trading. In a way, trading is like being in business for yourself where Propex provides training, infrastructure and funding.
As your trading grows you are given a greater percentage share. As for downside splits, our traders are not asked to pay for any losses.
Q: Am I expected to cover losses?
No. We wear the loss unless you trade outside of your contractual terms (eg. breaking stop loss limits or trading while intoxicated). Fortunately this has not happened to date.
Q: How much can I make?
The answer is different for everyone. Some trainees may well show early promise, but fail to follow through with a consistent and profitable approach. Others can do well from the outset. To offer even an average figure would be misleading. Suffice to say, it ranges from zero upwards.
As a general rule, it can take 6-12 months to build consistency, discipline and a profitable approach to the markets. All trainees should be prepared for this.
Q: Can I trade live from home?
For trainees, no – at least initially. We have many experienced traders that trade from home, so in time this may be a possibility.
Q: What is in the training?
Successful candidates are trained in all aspects of short-term trading including fundamental analysis, technical analysis and market psychology. Training is conducted by way of classroom mentoring and in-depth simulator exercises in live market conditions.
Q: What markets can I trade?
We are futures traders and the whole world of futures is open to you. Initially the training will be restricted to certain markets, but in time it is expected that you expand into additional markets.
Q: How do I apply?
All applications must be submitted through our online form - click here.