You all also seem to be assuming that I'm talking about day trading, even though I said otherwise in my first post in this thread. Maybe I should put it "short-term investing" or "short-term money management" or even "short-term asset allocation." Let's take the word "trading" out of this, as well as the word "prop," (even though this is the prop firm forum within ET). NOW what alternate opportunities are out there?
you already received an answer from maverick74 and myself. from maverick74: As for why firms are not looking for portfolio managers, look, it's about capital. When you hold over night positions you tie up capital and you are not generating cash flow to the firm. If the firm wanted portfolio managers they would just give their money to SAC. They don't need some 30 year old kid running a "book". Where is the edge in that. These firms are about making money each and every day, not sitting on long term risk. mark my words with your attitude you will not get a position.
Okay. There's no such thing as money management. That's all a mirage. In the financial world, it's day trading or nothing at all. In fact, before the proliferation of online day trading in the 1990s (and prop firms for that matter), there were NO opportunities in the securities end of the financial world at all. Got it.
there are money management positions at brokers and hedge funds but not for failed prop traders especially with no recent research experience and sales experience.
And you know that for a fact about me how? You don't have my resume, nor are you going to. Stop trying to play the role of hiring coordinator and answer the question if you can. If you can't, again, please find a different thread to post to.
congratulations on figuring it out except if u were operating under a license you cannot leave it out.
Again, anyone who can give me serious answers please do so. I'm not here to discuss myself. I'm here to discuss the field. Thank you.
How can the OP be so blind, dense, self-righteous, etc.? At least 5 people have clearly pointed out, and he has known better than all of them. The OP will never succeed with this attitude. I wouldn't hire him as an unpaid intern. He probably does not realize that anyone who did bring him in, would see the attitude disabilities and dump him quickly.