I am a senior in college and am interested in hearing what some experienced have to say about starting a career as a commodities trader at Archer Daniels Midland. I want to eventually trade for a living, but understand that I still have a lot to learn. Would I be better off learning at a prop firm or would it be better to start off somewhere like ADM? Also, what would exit opportunities from ADM look like? I'm sure I wouldn't have the capital or experience necessary to begin trading for a living after a few years at ADM, so what would some possible opportunities be? Would it make sense to go to a prop trading firm after this and, if so, would a prop firm even want me? As you can probably tell, I'm relatively new to trading and very new to this site, so if this question needs to be on a different board, please let me know and I will move it. I appreciate your help.
ADM, ADM Milling, ADMIS? Not that I have a lot of advice to give about trading per se. I started as a floor clerk at ADMIS in January. I love my office, and I feel like I'm learning much more than the average person about how markets work, ebb and flow and whatnot. I've heard that other areas of ADM are a little heavy handed and top heavy, but they claim they're trying to change that. The benefits are pretty great, though.
these are the best moments when you think someone or some firm will show you how to become rich after this come very worst moments when you realize that its you against the world and chances are even your family won't help they'll think you are nuts
Well.. it is in the firm's interest to teach you how to make money. How are all the guys on wall street getting rich? I am sure everybody is going to start ranting and raving about them not being true traders or doing "deals". Either way... I see those guys pulling in a shit load of money. Isn't that the point of trading?
If you trade for ADM you'll be working a lot on the hedging side of the business (also doing some trading in the spot market...your not really a speculator - which you would be working at a prop firm)....I know a few guys that use to work for ADM; they did a lot of broker work for their customers who used the futures purely for hedging purposes....do a search on 'hedging with futures', ADM specializes in that. A customer who actually needs to buy 100 contracts of corn 6 months from now will use the futures & options markets a lot different than someone who is just speculating for a few cents (with no intention of taking delivery).