Trading Career Programme - Frequently Asked Questions

1 - Why do I have to pay an initial fee of 300 GBP?

2 - I have been trading for years and have a good track record. Why do I need to go through the simulation process?

3 - What do you mean by “Maximum Position Size”?

4 - I have never worked as a Portfolio Manager or as a Proprietary Trader. Can I still apply for a Trading Career at Pulsar Capital?

5 - Will you teach me how to trade?

6 - What do you mean by “No positions overnight allowed”?

7 - I was not successful at my simulation. Can I try it again?

8 - If I successfully surpass the simulation, what´s the amount of money that I will be given to trade from Pulsar Capital´s own account?

9 - I live in U (as detected). Can I apply for a trading career at Pulsar Capital?

10 - What happens if I lose money?  Are losses split in a 70/30 proportion?

11 - Do you have a Trading Floor?




1 - Why do I have to pay an initial fee of 300 GBP?

The reason we charge this refundable fee is to avoid thousands of applications from people who do not know how to trade. As a result, not only would we be wasting resources to evaluate "unskilled" applicants but also be subjected to the possibility that, just by pure luck, a small percentage of them would manage to surpass the simulation.

By charging a 300 GBP refundable fee we manage to avoid this situation, given that only committed individuals who feel they can meet the required minimum parameters will apply for a trading career with us.

However, we are a proprietary trading firm, meaning that our income comes almost exclusively from our traders’ performance, not from “selling simulators”. 
Therefore, if you successfully surpass the simulation phase WE WILL REFUND YOU the 300 GBP fee.



2 - I have been trading for years and have a good track record. Why do I need to go through the simulation process?

The simulation is a vital factor on how we select traders: it allows our risk managers to extract extremely relevant data that we would not be able to get just by looking at your past daily statements (ex: intraday drawdowns).
 
Therefore, we understand that if you already have a good track record, a simulation may feel a little redundant.
However, please understand that for us, the information we get from there is of utter importance to delineate our company´s risk profile.



3 - What do you mean by “Maximum Position Size”?

Maximum position size means that the combined nominal value of all open positions may not exceed your account value. 
 
Example 1 (Forex): let us assume that your account value is equal to USD 100,000 and you decide to buy the USD against the JPY. The maximum position size you would be allowed to have would be equal to your account value (USD 100,000).
Now let us assume that you already had an open position of USD 30,000 on the pair EUR.USD. On this situation, you would only be allowed to have an additional position of USD 70,000 (maximum) on the USD.JPY.
  
Example 2 (Future contract): let us assume that your account value is equal to USD 100,000 and you decide to open a position on the E-mini Nasdaq 100 (NQ), currently trading at 2400 points. The nominal value of this instrument would be equal to USD 48,000 (2400 x 20) and, therefore, your maximum position size would be of 2 contracts (100000 / 48000).



4 - I have never worked as a Portfolio Manager or as a Proprietary Trader. Can I still apply for a Trading Career at Pulsar Capital?

Sure you can. If you have never been a Portfolio Manager or worked at an Hedge Fund it does not necessarily means that you do not know how to trade.
If you believe you have what it takes to be successful at trading, then you are more than welcome to join us and show us your trading skills.



5 - Will you teach me how to trade?

No. We do not offer you any "trading school service".
We are looking for individuals who already know how to trade and have their own trading methodologies.

We are aware that the conditions we currently offer are outstanding and this can obviously be very tempting. Nevertheless, we strongly advise you only to subscribe to our simulation if you believe that you have a proven methodology able to deliver the results we look for.



6 - What do yo
u mean by "No positions overnight allowed"?


By "no positions overnight" we mean that traders are not allowed to have any open positions while that particular market is closed.
As an example, let us assume that:

a) trader plans to trade the Mini S&P500 (ES). Since that market is open from 6:00pm to 4:15pm and 4:30pm to 5:30pm (ETH), trader will adhere to our guidelines as long as he does not have an open position during those 45 minutes where the market is closed (from 4:15pm to 4:30pm and 5:30pm to 6:00pm).

b) trader plans to trade the EUR.USD currency pair (forex). As this market works on a 24 hour time window, trader will adhere to our guidelines as long as he does not have an open position when forex does not trade (weekends)
 
(please notice that due to daily system maintenance forex trading will not be available between 5:00pm - 5:15pm (EST))



7 - I was not successful at my simulation. Can I try it again?

Sure. We understand that one´s trading abilities are constantly evolving (experience, new methodologies, …).
Therefore, If in the near future you feel that your trading skills have improved in order to allow you to successfully go beyond our simulation phase, then we look forward to hear from you again.



8 - If I successfully surpass the simulation, what´s the amount of money that I will be given to trade from Pulsar Capital´s own account?

You will start with an initial account nominal value of USD 150,000.
This value will increase through a totally systematic and straightforward methodology and based solely on the performance you manage to achieve.
Therefore, by every USD 1,000 of profits you are able to realize your nominal account value will be raised by an additional USD 40,000.

As an example, and for simplicity purposes, let us assume an hypothetical scenario where you would only trade the EUR.USD spot:
- on day one your initial account value is equal to USD 150,000 and you made a profit of USD 1,000 (or 0.67%);
- the following day your account nominal value would have been raised to USD 190,000. Let us assume that you would again made a profit of USD 1,000 (or 0.53%); 
- then, on day three your account nominal value would again be automatically increased by USD 40,000 to USD 230,000.

Therefore, after a gain of 10%, and based on this systematic "increase account value" approach, you will be managing a portfolio in excess of 6 million USD. 

And the best part?
70% of the profits achieved on your portfolio are yours!



9 - I live in U (as detected). Can I apply for a trading career at Pulsar Capital?
 
Sure. We believe talent does not have frontiers and, consequently, location shouldn´t be an obstacle to success.
Therefore, we allow traders to operate remotely from wherever they desire.



10 - What happens if I lose money?  Are losses split in a 70/30 proportion?

No. We will assume all the trading losses you may incur. Only profitable accounts will be divided in a 70% (for you) / 30% (for us) proportion.



11 - Do you have a Trading Floor?

No. One of Pulsar Capital´s main premises is to use the internet´s potential to select traders worldwide and, simultaneously, provide them with the possibility of operating from wherever they desire.

Also, by not having any trading floors we manage to achieve a substantial reduction on our operational costs. This allow us to offer our current and potential traders a much better remuneration package than we would otherwise.

We trust we are already acting in what will be the future of Proprietary Trading: cost efficient firms with a universal scope and traders spread around the globe.