Entry level trading jobs

Discussion in 'Trading' started by Jgills, Sep 27, 2011.

  1. Jgills


    Hello all,

    I'm new here and I've come here as a last resort. I'm typically one to not visit trading forums simply because I know I am human and I know that by reading others market opinions it may somehow influence mine, but right now I need some help and this may prove to be a good visit.

    I am a recent college graduate (I graduated in May) and I'm working as an analyst at a major bank in NY.

    In my heart I am a trader.

    I have spent the past two years reading and studying and the past year trading on my own account.

    Since November 2010 I have earned an Absolute ROIC of roughly 150%, + or - some, I recalculate it on a monthly basis and this current month has not yet ended. I have placed close to 300 orders (buy or sell) on the year, they were not all profitable (I'm not some kind of superhuman), but I knew when I had to get out and when I didn't have to, so I kept my losses limited.

    I have traded securities including futures, stocks and options, but the majority of my trades are through futures or options.

    I am trying to find a job as a trader at any firm that does not require me to put up capital and it is proving to be incredibly difficult and tiresome, which is why I am coming here, hopefully for some helpful advice.

    I don't care about starting at the bottom of the barrel as an assistant getting coffee for traders, etc, as long as the opportunity is infront of me and I have the chance to sit on the desk with them (but I would deffinetly prefer starting as a junior trader with a small book, or something of the sort, who wouldn't).

    I am open to anything.

    If anyone has any words of wisdom or helpful advice please post or reach out to me via a private message.

    Thanks very much,

    P.S. Yes, if you're reading this again I posted it in another section of these forums, I'm trying to get opinions from people who don't leave their favorite sections. Sorry :).
  2. you need capital
  3. Jgills


    can you elaborate?

    I need capital for what? joining a firm? How much capital are you talking about? I can save capital as I am currently being paid fairly well.
  4. There is a reason why you are having a hard time. First off, institutions are not hiring traders, they are firing them.

    You need a track record to get a job at a fund. What you are looking for is no longer available. Times have changed. Either document your 300% return and be prepared to show how you did it or get some start up capital and try your hand at a prop shop.

    I've been at a prop shop for 4.5 years now. Don't be fooled to think you can succeed with start up cap of 5k and 30:1 intraday lev. You will blow up quickly and be right back on the street looking for employment in an economy that is not hiring.

    Sorry for being so blunt but that is the way it is. Btw, 300% return is pretty darn good especially if you are just out of college. Sounds like you have something so if it is legit, you could probably raise your grub stake from family member or friends. Get creative if you have the desire. Remember, there are no free lunches.

    Good luck to you.
  5. 150% ROIC in less then one year still pretty decent
  6. Jgills


    I appreciate the replies.

    I have an issue asking for money from family members, I won't do it. I'll take outside investors money, but currently I can't do that since I'm working at a bank, albeit entry level, I still can not because I don't have the time to put in to feel comfortable with it.

    A prop shop is my next thought, but I'm worried about the exact problem you mention, especially since I don't typically trade intraday.

    How did you start at the one you're at and what is the name of it?
  7. You must learn how to trade successfull.

    Dosnt matter if you work on your own or in prop firm or wherever.

    Said that, i dont see any reason why you need a job as trader, when you are successfull, just be your own boss.

    1. Keep your current job. + safe money every month.
    2. Learn more about the markets and try to get better, work more, much more, dont be lazy, lazy traders loose.......
    3. Read every f$cking post in this forum.
    4. Trade beside your job and grow your money.
    5. Once you have enough to make a living of "only full time trading", then quit your job and tell your boss what an asshole he is.... : - )
    6. Plan your business and work the plan.

    good luck, boy
  8. I don't understand why anyone with a return of 150% needs a job. [​IMG]
  9. Start with just not enought capital or have one year record :)
  10. What do you do at the major bank?
    #10     Sep 28, 2011