Looking for Fresh/Aspiring Traders-Forex

[vicky_ag]

Ankit,

This is really strange that you are finding it so difficult to find like-minded people. I hoped you will close the recruitment very quickly.

Forex market is pretty interesting and amazing too. You are not asking for any fees just dedicated time from people who can spare it. Should have been easier.

Best of Luck,
Thanks,
Sanjoy

Sanjoy, the interest and amazement must be there for sure. The real issue is the risk. With no salary within the training period (which can go into months altogether) many might not be interested in taking that risk.

And many expect the employer to bear the risk of them being complete freshers. This is not a software job where company trains and benches you , still you get your monthly fill.

 

[ag_fx]

No...it is not that simple...a totally fresh trader does not have an account or track record to prove that he can trade well, also he will require long training,mental discipline.....which a trader acquires after he matures. And the successful trader who has all the above is already making money and is not willing to do 5-6 months apprenticeship with relatively less earnings....fees is not the issue...6 months dedicated time is the catch...

Watching this space with interest as this is a new and welcome concept being tried out....all good wishes to Ankit and other friends who are trying similar ventures....

Smart_trade

Sanjoy, the interest and amazement must be there for sure. The real issue is the risk. With no salary within the training period (which can go into months altogether) many might not be interested in taking that risk.

And many expect the employer to bear the risk of them being complete freshers. This is not a software job where company trains and benches you , still you get your monthly fill.

Thank you ST and Vicky for your responses.

To give an update on the issue, I have practically stopped my search. I have found it the hard way that it is next to impossible to recruit people this way. As pointed out by you both, the problem comes with the attitude. Everyone wants to come and learn, but no one is ready to take the risk.
Here are some of the ridiculous responses I got from people whom I interviewed:

1. I cant move. But I can guarantee you that I am a good trader.
2. I can work from 6AM-11PM and then 3PM-10 PM or other selected timings.
3. I trade Nifty during the day. I will trade Forex from evening.
4. Can I learn part time and get paid too?
5. What is the guarantee that I will make money?
6. Tell me about the future money that I can make?
7. What will be your FUND size in 12 months from now?
8. What will be the FUND size that I will manage?


and many many more such stupid questions. Answers to many of above questions were already in the thread and many other questions were totally irrelevant.

Bottomline was, no one was willing to come ONLY to LEARN and see if there is something good to offer. Everyone...almost everyone wanted a security from me. A secure job..a secure payout and what not. There were enough signs that none of these people can possibly(baring a couple of them) ever become good traders. Or at least they are presently not even close to being trained on HOW TO TRADE.

Learning and implementing a system is probably the last stage that a trader goes through in his career. There are many more lessons that needs to be learnt before someone can actually be taught trading and sadly almost everyone who came to me was not even bare minimum prepared.

 

[Sunny1]

Well how come people ask these Q's when you have already mentioned clearly that only after training will be decided the eligibility of the candidate...??

also while mailing you none these Q's I had but only one Q i.e., about my accommodation
I mean would you have provided accommodation for selected candidates who prefer to move...or they have to find place to stay on their own???

 

[veluri1967]

Well how come people ask these Q's when you have already mentioned clearly that only after training will be decided the eligibility of the candidate...??

also while mailing you none these Q's I had but only one Q i.e., about my accommodation
I mean would you have provided accommodation for selected candidates who prefer to move...or they have to find place to stay on their own???

Sunny,

Wearing one's own shoes does not give the feel.

Wearing the shoes of Ankitgarg could have made them to think twice before putting such awkward questions.

 

[PuneetAro]

I am serious. I want to dedicate good time learning trading and want to make my career.

Just to do that I have already left my high paying job, completed studies and now experimenting while learning.

Puneet Arora

 

[sanjoy_roy]

All,

Forex is amazing and interesting because of the money you can make/lose in a ziffy.

I am learning. just a newbie. Experimenting a lot with my demo account. Wiped off two 10k accounts. now in the third, down to 4.3k. (the speed at which the accounts were dwindling has reduced :clapping

Risk is vital but at what expense. Few would have the courage to leave their jobs and enter the unchartered territory wherein they have the alarm of monthly EMIs. Not saying that we don't have such risk takers but will be far and few.

Anyway, we all know bigger reward goes to the one who takes the bigger (calculated) risk.

There are times when I can see how a pair would do in the next min. and then there are times when I buy at the top or sell at the bottom

Learnings happen all the time and thats fun.

Ankit, could have tried with college goers who have more to gain and less to lose. I know its his call at the end of the day.

best of luck to all (including myself).
Sanjoy

 

[Edward]

Thank you ST and Vicky for your responses.

To give an update on the issue, I have practically stopped my search. I have found it the hard way that it is next to impossible to recruit people this way. As pointed out by you both, the problem comes with the attitude. Everyone wants to come and learn, but no one is ready to take the risk.
Here are some of the ridiculous responses I got from people whom I interviewed:

1. I cant move. But I can guarantee you that I am a good trader.
2. I can work from 6AM-11PM and then 3PM-10 PM or other selected timings.
3. I trade Nifty during the day. I will trade Forex from evening.
4. Can I learn part time and get paid too?
5. What is the guarantee that I will make money?
6. Tell me about the future money that I can make?
7. What will be your FUND size in 12 months from now?
8. What will be the FUND size that I will manage?


and many many more such stupid questions. Answers to many of above questions were already in the thread and many other questions were totally irrelevant.

Bottomline was, no one was willing to come ONLY to LEARN and see if there is something good to offer. Everyone...almost everyone wanted a security from me. A secure job..a secure payout and what not. There were enough signs that none of these people can possibly(baring a couple of them) ever become good traders. Or at least they are presently not even close to being trained on HOW TO TRADE.

Learning and implementing a system is probably the last stage that a trader goes through in his career. There are many more lessons that needs to be learnt before someone can actually be taught trading and sadly almost everyone who came to me was not even bare minimum prepared.

We had a similar issue, then we tried a different approach, which seems to work as of now.

We targeted fairly successful individual traders, who are at least following some systems, believe in systems and emotionless trading and are trading for a while.
We asked them to just give us a week to teach our system that is working satisfactorily for us. And asked them to work on it just for a month, with a small account.
At the end of the month, if they showed discipline in following the system and made profits capitalizing the signals, we showed them the big picture of working with us.

Once convinced we worked on the revenue model, to make a win win situation.

If you break your head with wannabes, it's going to be a very futile exercise. And ones who have joined you currently will only stick to you till they learn your system and then they will vanish in thin air. It happened to us, and am sure it will happen with you.

Instead try targeting 'fairly' successful individual traders or even an unsuccessful forex trader will do, he/she has learned it the hard way and will appreciate you giving them a ready made profitable system to work on.

 

[Edward]

I am serious. I want to dedicate good time learning trading and want to make my career.

Just to do that I have already left my high paying job, completed studies and now experimenting while learning.

Puneet Arora

Trust me on this Puneet, 'The more emotional you are the more you will lose in Forex'.
For you the stakes are high now, having left a high paying job the peer pressure will make you desparate to achieve more in less time, the first recipe for going bankrupt in Forex.
Forex trading should be taken as just another profession, Competence, Confidence and Discipline, will see you through.
For beginners who think Forex trading is some sort of a Magic bullet that will make you a millionaire in six months, trust me, you are in for a rude shock.
Like all businesses, Forex trading too has it's own learning Curve, some go through it a bit quicker than others, but everyone has to go through it.

Get back to the basics, learn, practice, practice and learn. Learn the dynamics, the psychology of trading and learn money management.

Wish you all the best and God bless.

 

[ag_fx]

We had a similar issue, then we tried a different approach, which seems to work as of now.

We targeted fairly successful individual traders, who are at least following some systems, believe in systems and emotionless trading and are trading for a while.
We asked them to just give us a week to teach our system that is working satisfactorily for us. And asked them to work on it just for a month, with a small account.
At the end of the month, if they showed discipline in following the system and made profits capitalizing the signals, we showed them the big picture of working with us.

Once convinced we worked on the revenue model, to make a win win situation.

If you break your head with wannabes, it's going to be a very futile exercise. And ones who have joined you currently will only stick to you till they learn your system and then they will vanish in thin air. It happened to us, and am sure it will happen with you.

Instead try targeting 'fairly' successful individual traders or even an unsuccessful forex trader will do, he/she has learned it the hard way and will appreciate you giving them a ready made profitable system to work on.

Thanks Edward for suggestions.

 

[ag_fx]

Emotion, Pride, Greed & Fear are real time killers in Forex ..

I am already trading Forex .. And have much degree of success trading it ..

Harsh124

P.S. I am always interested to learn more and develop more .. Mr. Ankit .. Would you please brief me about this thing?

Harsh...If what you say is true...get in touch with me...PM me your contact details.