How To Go From Retail To Institutional Trader

Discussion in 'Professional Trading' started by Fundlord, Aug 22, 2015.

  1. Fundlord

    Fundlord

    I dont think transferring universities is really an option as I dropped out of a university before and I don't want to rock the boat.
     
    #11     Aug 22, 2015
  2. Visaria

    Visaria

    My experience is that they would be interested. They luv stuff like this. Send off your resume to all the big hedge funds...some of them have intern programmes and graduate schemes.
     
    #12     Aug 22, 2015
  3. In general prop firm will take you regardless what is your academic qualifications, as far as you can trade profitable. However, there are two type of prop firm :

    1) Those that try to squeeze money from YOU. This type of firm will normally charge you the "training fees", bogus " proprietary firm platform", desk fees, rebate fees that they obtain from exchange. Stay away from this type of firm.

    2) Those that try to squeeze money from MARKET through profitable trader. They normally will share profit with you. This is the good one to start with. Send them your CV.

    This day you won't find much firm that will let you risk their money, you normally have to put some money in the front line, e.g. You contribute 10k and the firm contribute 190k, 60/40 sharing. The caveat is if you loss 10k, your personal money will be on the front line and get burned, and most likely you will be "fired". This is why I say bucket shop somethlime is even better than prop firm as they provide similar leverage, and less BS.

    Note : Institutions normally won't consider prop firm working experience as relevant to their trader position.
     
    Last edited: Aug 22, 2015
    #13     Aug 22, 2015
  4. I know those type of people (unfortunately) , most of them have no clue what kind of products they are selling. I recalled one of them call me several times with their hard sales. I respond to him with a few questions and mentioned to him who I had worked with before, that guy can't even answer one of my questions, and he said he will get the fund manager and their traders to respond to my questions, I never heard anything back from him anymore.
     
    #14     Aug 22, 2015
  5. jinxu

    jinxu

    I noticed you are 21. Get your education. Likely you would need a master's. Try to look it from an instutuion point of view. If you are not commited enough to get your degree why would they trust you to be committed working for them. Seriously, especially in europe where higher education is free for everyone!
     
    #15     Aug 22, 2015
  6. xandman

    xandman


    Those guys got their starts because of the way the industry was back in those days. The next trader archetype your going to see 20 years from now (maybe you?) would have started in the same trader jobs you see now. You can bet those current archetypes joke among themselves that they probably could not get the same entry level jobs if they had to with what they graduated with. ( This is an inside joke with successful people.)

    To make a distinction between discretionary and quant is highly naive. You provide the industry what it wants. But first, you have to understand the business.
     
    #16     Aug 22, 2015
    cjbuckley4 likes this.
  7. Fundlord

    Fundlord

    Yes undergrad is near free but a good masters from lets say London School Of Economics is about $80,000 and I imagine its very difficult to get in.
     
    #17     Aug 22, 2015
  8. jinxu

    jinxu

    It's not an exuse. That's the same for MBA for guys that want to be investment bankers. It doesn't sound like you are willing to work hard for it.
     
    #18     Aug 22, 2015
  9. Fundlord

    Fundlord

    I am willing but that is 3 years away, I want to know the steps I can take right now apart from keep my grades up in undergrad.
     
    #19     Aug 22, 2015
  10. jinxu

    jinxu

    So I reread your first post. Why do you only have 5k and working at shitty jobs if you are from a well off family?
     
    #20     Aug 22, 2015