does this mean you are looking for more stability? If so I would argue working in the corporate world transfers the responsibility from you to them. If you trust yourself to be stable then focus on your own development and do your thing. If you trust someone else ie. the corporate machine and bureaucracy then go corporate, just watch out for downsizing. And one last thing don't attach yourself worth to your corporate title that way if they sack you it won't hurt as bad. scalp
I have wondered this too. The disrespect usually comes from those who have never struck out on their own to take a risk and think only well-bred grads that have never clicked a buy or sell button can trade. I would think a private trader would have a lot of qualities that are severly lacking in the corporate world. Even if you never made any money and had to change careers, at least you took a chance on yourself, which most people in the corporate world would never do. But what do I know, I am just an unrespectable trader...
What are the characteristics of successful traders, who trades with their own capitals? What do hiring managers in big companies look for, when they conduct interviews? Are there any conflicts? Do these managers want independent employees, who answer to no one but themselves. What are the essential skills to excel in the corporate world? http://www.elitetrader.com/vb/showthread.php?s=&postid=310589&highlight=prop#post310589 http://www.elitetrader.com/vb/showthread.php?s=&postid=311765&highlight=sheep#post311765 http://www.elitetrader.com/vb/showthread.php?s=&postid=477357&highlight=dogs#post477357
Go hedge fund Many hedge funds were started by self employed traders who look for GOOD traders not sheep. They do go for Ivy league and academics also but those hires have to go through a training phase that takes years because market experience cannot be taught in school. An experienced and proven prop/retail trader has smth almost every hedge fund wants. Most institutional traders are morons, they make me a lot of money.
Virtually all HF postions I have seen want Ivy League or PhDs. I have yet to see one that says "experienced prop trader wanted".
ET 31 Please dont think corp life is stable. I 've been in Corp life most of my career as a trader Market Maker , Institutional trader, Option Trader. I've always made money for my firms and myself. The bottom line is when they go to cut costs, it makes no diffrence about your performance, if they need to cut heads only the families or friends of management are safe.I've been prop trading for 1 year now just started making good money, but I will never go back to corporate America God willing. I feel 100% safer and happier now as a prop trader. Good Luck
the prop system was born out of the late 90's internet boom when everyone wanted to trade, but not everyone had the money or know how. Most of the sheep types that got into trading because they had a friend who made a grand in one day have been fleeced and are gone. You still have a rotating crowd that comes and goes but for the most part Prop traders are a self starting, entrepreneurial bunch. The successful prop traders are similar to successful people in any business, smart, motivated and determined not to give up under any circumstances. Some people would rather spend most of their time looking for a 'way out' or something easier then face head on the difficulties it takes to be a success. The corporate job is a cop-out. Many people in the corporate world are 'sheep' who would rather let someone else think for them. Scalp
Thanks again for the responses gents. Scalp100 I agree with you on a certain level, but on other levels especially in the short run a corporate environment does create greater stability, benefits etc. Corporate is no cop-out, reality for now. I was also wondering if anyone had an idea of what qualities, skills, or characteristics buy-side firms are looking for in traders? Thanks.