Does anyone think that ETG would be willing to give a salary, if, they clearly wanted me and it was small and short-term? (exp: 1500 a month for 6 months) Just hoping to get some advice from current and past employees. How does it compare to: FNY securities Trader Assistant @ MS Worldco Trade Assintant @ Botta Thx all
Maybe because I am not a trust fund baby, who thinks they are a wall streeter, I should find a job, huh? Sorry boys or I am I urinating on your blue blood meeting? Salary is important to those of us who have college debt., and who want to be focused on learning to become a trader, not worrying about our next meal.
Okay, I believe ETG would like to hire me. I am on my third interview, and they have been very interested in me. I have had my interviews all literally in the last 2 weeks. All of them went well. I know that they used to hire trainees and pay them a small salary. If, for example, the possible hire looked very appealing - would giving him a request of a small salary for 6 months after the start date be realistic. I do not mean to get in posting wars with others. if you do not have a nice comment please do not reply. Also, I have a few other offers. All, how does the enviroment and training at other firms compare? Thank you for your replies.
ETG is Elecrtonic Trading Group- here is the website: www.etgtrade.com if you want to know more about the firm, just look up in the forums search -"ETG" they are a prop firm, they let you trade their capital
...its a trainee position, I get 7,55 they train me on trading. i give them 50% of my returns and have to sign a 3 year contract. I put up no capital. I believe I am charged for desk fees and ofcourse trade fees.
Watch out for the desk fees and commission bill most prop traders give at least half of there profits to commissions. Then the desk fee just wipes out anything left. The truth about trading is most of your prop traders gross every month but have a net loss due to the commission bill. That is why most of these firms hire. Even at 1.5 cents a share if you know what you are doing you probably wont see a payout. So my advice is take a salary if they give one and when you become profitable leave. If they don't give a salary find a thread called March trading journal and ask Hitman if he is hiring you will get a better deal.
Both watson and trader55, any other input on what I should look for in a firm? I actually got similar advice, and am messaging Hitman. he is really a straight shooter, not trying to con me, just giving me the simple facts. thx agian
I personally don't know hitman but I trade at his firm. They gave me no money down account no desk fee's and a OK commission rate witch I would like lowered but you can't get everything you want. I know of two firm's that are honest and they are Worldco and Schonfeld. Schonfeld is not hiring and probably won't be for many years but Worldco is. Most of the other firms are bucket shop's and suck big hairy ball's. So be careful in starting a career in trading. Wall St is full of a lot of assholes who try to take advantage of collage grads. Most of all if they hire fast they also fire fast and wont give you enough time to learn the business. http://www.schonfeldsecurities.com/ http://www.worldco.com/