Showbiz news

**_Cathy_** · October 30th, 2020 04:36 PM

Originally Posted by Walter

Real traders do not work for banks ...

Umm the fact is we have traders and they are paid really well.

And where are traders supposed to work then?

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**papi smith** · October 30th, 2020 04:42 PM

Methinks that they are not really skilled traders but influential enough to step inside the old boys club.

**uls** · October 30th, 2020 04:50 PM

OT

i think ang "trader" para kay Walter ung may trading account sa broker

ung nasa bahay lang buying and selling stocks, forex, etc

ung sinasabi ni Cathy traders who work for financial institutions

financial institutions have proprietary trading desks (called prop trading in the industry)

Prop traders use the firm's capital

Those guys are the equivalent of varsity team coz since they use the bank's money they better be good at what they do

**_Cathy_** · October 30th, 2020 05:01 PM

Originally Posted by uls

OT

i think ang "trader" para kay Walter ung may trading account sa broker

ung nasa bahay lang buying and selling stocks, forex, etc

ung sinasabi ni Cathy traders who work for financial institutions

financial institutions have proprietary trading desks (called prop trading in the industry)

Prop traders use the firm's capital

Those guys are the equivalent of varsity team coz since they use the bank's money they better be good at what they do

Exactly! They are the super stars at the bank nga.

Tama si uls, I am talking of traders who bet on the bank's money. It's a prestigious but high stress job, not everyone has the character for that.

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**papi smith** · October 30th, 2020 06:26 PM

Their coming from prominent families means connections right? I remember a poster at the defunct financemanila forum whose name sounds like a cigarette who is always sending cryptic posts about stocks that are about to be multi baggers. This guy I came to learn because of FB, is cream of the crop persona.

**uls** · October 30th, 2020 07:12 PM

OT na ito

Cathy is talking about getting hired by foreign banks to be traders

GS, JPM, BNP Paribas, Santander, etc

you gotta have serious background

-

"trader"

a guy who opens a retail trading account at an online broker... using his own money... trading at home in his pajamas

Cathy, i think yan ang pagkaintindi nila sa "trader"

**yebo** · October 30th, 2020 07:45 PM

...at iba din yung binabaril na may blindfold. Nakapajama din yun so don't get confused.

Es un trader! Fuego!

**Walter** · October 30th, 2020 09:20 PM

Not talking about retail traders ... yeah, investment bankers used to make a lot of money but that's not how it is now ... real traders work with hedge funds or trade independently where they have skin in the game ... the rejects are the ones left with the bank since they have nowhere else to go ... people who really know how to trade don't work in banks anymore ...

Then again ... don't take my word for it ... what do I know? ...

**Walter** · October 30th, 2020 09:22 PM

Originally Posted by papi smith

Methinks that they are not really skilled traders but influential enough to step inside the old boys club.

Correct ... they just "seem" to be paid well which is a misconception ... she just said they came from "influential" families ... so they have money even if they don't work ...