I am a 24 year old currently working in a back office position at one of the largest investment banks in the world. I am aproximently making 55- 60k a year. The problem is I do not like my job at all and see little upside in the position I am in. I am very interested in getting into proprietary trading but would like to see if any one would recomend me doing so in the current environment and where would you recommend I look. I graduated from a good college with a 3.5 GPA and have a series 7 and 63. I also consider myself a very hard worker who is very driven. Any opinions on what I should do in my situation, recomendations?
Write down a trading plan and/or a system. Give it to the guy who's in charge of trading operations or fund managers in the firm. (you can always E-mail them even if you're not in the office with them)... If they like it and feel it's going to make money, they'll call you into their office. I've heard that a few traders in a bank getting started as a bank tellers getting jobs as a trader that way. It's a lot easier to manage money from institutions if you're inside the firm rather than outside of it, no matter the position. What's more important is passion... If you're considering to move to a prop. firm then do all you can... be a little annoying and psychotic... if they like you and see something... it's better than working for a prop. and work on up....
Not trying to be skeptical or anything but .. what back office position pays 55-60K? 2nd year equity analyst makes considerably LESS.
If you have a lot of money to start. Meaning a lot to start to me would be over 50 grand then go prop. If not stay where you are and do everything you can to try and get a trading position with your firm. The prior post was good advice as well.
i don't know what 50 grand really has to do with all this. if you really feel you want to give it a shot, by all means, do it. i know quite a few people who've crossed over from i-banking/institutional trading to trade on their own at prop firms. some successful, others not as successful. you will only know by trying. a lot of this other advice is actually coming from other prospective traders (guys who have never traded prop yet)...so you should just take them with a grain of salt.