Calling all traders: where can I become one?

Discussion in 'Prop Firms' started by newguyintown, Sep 20, 2005.

  1. Hi everyone,

    I'm someone who is currently at a major juncture in his professional life. First let me provide you with a bit of background, and then hopefully you can help me out with some advice...

    I graduated from university 2 years ago (top of my class with a 4.0 GPA) and was quickly hired as a technical analyst by an MIT grad that was launching a new hedge fund. Since then I have developed my abilities in technical analysis by studying for the chartered Market Technicians (CMT) program, in which I am now a level II candidate. However, while I enjoy technical analysis and am earning a good salary, I am passionate about becoming a professional trader. Therefore, I have decided to quit my job and pursue a professional trading career.

    After doing a lot of research, I've found that it would be best to try to start out with a prop trading firm that hires new traders as employees (usually Trader Trainees) and gives them intensive training, while also not requiring them to put up their own capital. I have actually identified around 20 such companies, and have applied to them. But now comes the tough part.

    First of all, I'm not in the US; I am currently working in Kuwait. Second of all, I'm Canadian not American. Third of all, while the university I graduated from is highly estmeed in academic circles (many of its grads have went on to such schools as Harvard, Yale and MIT) it is in the Middle East and thus virtually unkown to any recruiters in the US. Now why is all of this important? Well, because, for one, these prop firms that hire you as an employee are extremely selective, and thus looking to recruit mostly from the top US schools. And two, a lot of them seem to only want people residing in the US.

    Indeed, even given my high credentials, I have only heard a positive reply from 2 firms out of the 23 I have applied to. And while I am in the middle of an interview process with these two, I have to be skeptical and have a back-up plan. And that's what I need advice for....

    So first, does anyone know of a company that will hire you as an employee Trader Trainee, and that would also be willing to consider me given that I'm not yet in the US and that I would need sponsorhip for a work visa (since I'm Canadian, visa sponsorship is straight forward, and I am willing to relocate immediately at my own expense).

    Second, assuming that this whole option of "employee trader" fails through in the next week or two, I need advice on the best company to join as an independent trader (i.e. one that has to put up his own money and is not considered an employee of the company). Now while I always read recommendations in these threads about best excecution, or best technology firms, what I'm looking for is "best training" firms. That is, a firm that will have mentors that will train you, and an environment in which you can learn from many professional traders who are willing to teach you. This is what is most important to me. Does such a place exist for independent new traders? Also, it would be good if the place has a low minimum capital requirement ($10,000 or less is preferred).

    Thanks a lot....
  2. Best of luck :)

    (Trading Bubble).. look out below market
  3. What about starting a prop firm in the Persian Gulf somewhere? Isn't there around that might find prop trading exciting?

    If you ran a trading room, this would give you a venue from which to trade yourself.