most are churn and burn , take a young grad in train him on bobble schatz or euribor tbond and watch the lots go through. They donât really give a toss how much profit you make as long as you donât loose money and keep churning the lots. make sure you go in with your EYES wide open . good luck . i overheard a young trader out of the fortis office the other day " going to have to live on the credit card this month , as i've only broker even - its just a learning curve though , not long now !" hummmmmmmmm
On the application: "As a trainee trader you will be paid a small salary for six months but once you are trained you are expected to earn your own income through trading. Some traders quickly earn enough to provide for their needs, others take longer. If necessary, are you prepared to go into debt to become a successful trader?" Nobody goes in blind and the company doesn't try to pull any wool over your eyes I started over 3 years ago and have no regrets, the guys I know who failed have no regrets that they took 9 months of their lives to try and make it (now bankers and brokers), why wouldn't anyone give it a go? If you understand the opportunity you're being presented with you'd have a stab at it, IF you're lucky enough to be selected. The first time you make your graduate friends' annual accounting salary in a day you appreciate you took a chance on an extraordinary grad course.
I got the chance to work with a private client money management firm that was simply too good an opportunity to say no!
What sort of position sizes do they initially allow you to adopt once you have started with them. 50% split of profits using their money sounds fantastic - I would guess they have applicants queing up around the block to join - or am I missing something here ?
According to their recruiters... http://www.jobtrain.co.uk/OurClients/docs/JobtrainCaseStudyMarexTrading.pdf "We had over 700 applicants for 20 UK-based vacancies. Jobtrain played a significant part in helping us filter the candidates to select the most promising for the assessment centre. The whole filtering and interviewing process was completed in three weeks by a small team of people, something I don't believe we could have done without Jobtrain.â And they do it 2 or 3 times a year. In answer to what size they give you it wholly depends on you and your account. Obviously everyone starts on 1 lots. There are guys in intakes well below me who clip 600 - 1000 bobl or eurostoxx intraday now. Personally it'll take me a lot longer to be comfortable with that kind of size. The company encourages you to progress to larger clips but it's entirely your decision, after all it's your business.