Career Decisions

Discussion in 'Prop Firms' started by Don't Pass Bet, Nov 30, 2007.

  1. Hello all,

    I hope this thread is not too repetitive as I have seen many posted on similar topics. I was hoping to get a fresh perspective tailored to my situation which is not entirely unique.

    I am currently a Junior in college and I have come to a point where I need to seriously weigh my options as far as career paths. As a student, I have admittedly distinctly average credentials and attend a pretty good midwestern university.

    Most of my life I have aspired to be a trader and grew up idolizing my father who traded Eurodollars as a local at the Merc. As I have grown older I have seen the trading landscape change from open outcry to the computer screen. This change has essentially eliminated my opportunity of being "given a job" clerking in the pits in the hopes of becoming a successful trader.

    Like all graduates, I would like to embark upon a career with great income potential and relative security. I am more than willing to sacrifice both in order to establish myself as a career trader. I am very aware that my chances at being hired at an upper-tier trading firm are very slim. This does not mean I will not try, but that I have realistic expectations.

    I am very solidified in my aspirations of becoming a successful trader and I am willing to make any and all sacrifices necessary to make this happen. I'll work late hours, toil with meaningless work to get an in, etc. I am humble in my status and well-aware that I have an infinite amount to learn about the markets and how to become a profitable speculator.

    What would you recommend I consider as a course of action after graduation?

    I thank you sincerely for any input offered.

    Sorry for the long post!
  2. I recommend a career in journalism to better utilize your penchant for the written word!:)
  3. As you correctly noted, the job of "trader" has evolved and disppeared in some cases.

    You basically have 2 choice:

    1) get good connections (perhaps your dad has some from his old job) and try to get into the buy-side at a hedge fund or mutual fund..

    2) try to get into one of these IB's on a sales desk (connections) and wine and dine clients and handle their order flow. (not really trading per se, but more order handling..)

    3) trade your own money.. This is probably the most rewarding, but hardest to do..

    If you do #3, try to learn under someone (again maybe your dad can help with this) so you learn how the markets work....

    And if you cant find a mentor, dont trade your own money until you have a few years of researching various methods under your belt, unless you have a backtested strategy..

    It seems like most people either give up, or find out what doesnt work, b/4 they eventually find out what works... But this takes years.

    Forget about being a "market maker." that game is done.