Look, I'll throw you a bone. I've gotten guys on ET really good jobs at some of the best firms in NY and Chicago but if you are going to be evasive, which is fine, then I'll pass. Quid pro quo
Look, I do not think it would be wise of me to disclose the name of the firm here. Sure i can send you a PM. I am not looking for a job right now. This guy has helped me, when i was outta the market , and i'd like to help establish his desk is the least i can do. All I need is information, future safety, it was rather idiotic for me to leave my prop a few years back, here in india - I was quite sure I would make money anywhere, but what i didnt know was that it would be the only prop in the country. and Honestly my last year track is ok, but not upto good standards atm, working off @ TST has given me a few ideas about why it has been so, and i am pretty sure with backing I can get it back upto usual. So I am willing to slog it out for a couple of years, make little money, get a degree, review my options.
India. Only one prop which operates here - GHF. Operates under the name Futures First Services Info Pvt Ltd. Not 100% legal to speculate here, its a grey area Half of my cost last year, in opening my own account was legal.
A well established Prop House - 1) which trades futures - specifically energy. 2) Preferably has exchange membership - Lower the transaction costs, the better. 3) Where there are many other traders making money. 4) Good long term prospects - I would want to scale up, as i make more money - this is a hindrance if the firm has low backing, or where I am among the few who make money. 5) Allows me to foray into Trading Algorithms. 6) Good Risk management on the firm's side as well as my own. 7) Profit Splits upwards of 30%, to 50%, I am fine if it is slab based, based on the PnL you generate on the quarter or year. 8) It would not be optimum for me to shift right now, since - a) I would need a salary to survive a shift to another town/country, of course it wouldnt matter in a few months, say 6-8 till i scale up my trading. b) I would want to help my existing firm set up operations and get their desk going. c) I do not have a good track record for the year 2013- It's decent though, previous years were better. In a couple of years trading here, I would have the money to move elsewhere or get a degree, have a good track record and would have established this desk. 9) I am not looking to trade remote, but rather at a good desk - which has good facilities like Internet Line- stable, Good Front end software like TT or Stellar, subscriptions to trading reports or generated in house. 10) Would be a plus if it allows me to trade long term - say days or weeks, as well as intra day. 11) It would be nice to meet good traders, maybe collaborate -even though trading is mostly an individual effort. 12) I do not want to make a capital contribution right now, it would be good if they hire me on the basis of track record/interview. Right now I just want to know if such firms exist, what are the best such firms, what would be their hiring criteria, if they would hire foreigners and specifically how is their work culture. Such information can come much handy in the future for me, also gives me a direction to prepare myself. Hope this helps.
tonight is the first time I have ever heard the term - prop trading - if prop trading were a movie title, it would be the scariest movie ever made!! I have been reading all sorts of blogs for the past 3 hours, and I have never come across so much confusing over a topic, most of them horror stories, it sounds like a magic show, with smoke and mirrors galore, take a bow sir david copperfield. it sounds like the phrase -prop trading - originates from Nigeria. the questions you have asked, cover just about everything anyone would love to know, after reading on prop-shops, my first thought is you actually work for a prop-shop and indirectly are enticing me to come sign up. it sounds like anyone one step up from being a hobo, will be taken in by most prop-shops, what they going to do with you there, who knows. if I didn't want to go the prop-shop route, and earn all the big bucks, what 2nd alternate route into trading are available, to people without formal economic or finance degrees?
This question has been answered and debated to death on Elitetrader several times already, how are you going to be a good trader if you do not do any research?