I actually did make money as a prop trader, but it did take about 6 months until I had my first month which I made enough money that I could say I was finally making a living. I know if i went back to prop trading it would take me time to relearn and be consistantly profiable again. Also, I would like to start a family sooner or later and would like a base pay plus a % of my profits. I am just being realistic about making a long term career out of trading, because I know the swings which can take place in somone's P&L and how they can burn someone out. I have never met a 50 year old prop (day) trader, but have met 50+ year old people who are base pay career traders. From what I understand, becoming an execution trader is the entry to becomming a base paid career trader. I know someone will probably reply that I dont have confidence in my trading if I dont think I can be a prop trader for life. This would be true. I dont think anyone out there can say they were always the best and never had a few down months in a row and did not make any money at all. I think I would be a better trader if I knew I had my mortgage covered and was trading to pay for the other things in my life.
Dude, what is so hard to understand? You were given the reality of the current job environment for execution/sales trader positions in the first reply to your initial post. These jobs were hard enough to get prior to the downturn, nowadays it's 10 times harder. You would be taken more seriously if you did some research on the current state of the industry in the NYC area. It's not pretty.
I do believe you, and appreciate your feedback. I am just trying to be optimistic. I know how hard the job market is, Iâm about to turn 30 and do work a full time job at a small bank (happy to have a job in general in this market). Just asking this question to see if anyone out there can help me get back into the field I really want to be in.
You don't get it do you? Unemployed NASDAQ marketmaker's, NYSE Specialists, and Block trader's can't find these "execution trader" jobs, what makes you think your 6 months of prop trading qualifies you? Go back to school and become a dentist.
I wrote that it took 6 months to become profitable, not that i traded for only 6 months. I traded for 5 years full time, and have been investing and trading part time for about 10 years.
If you are only going to reply with a negative comment please dont bother writing on here!!! I started this topic on the chance (I know its only a slim chance) that someone will be able to help me figure out how to get an interview.
You know, even if I had a lead for an execution trader job and had no friend or family to recommend, I still would not look toward you. As Surdo said it, you just do not get it. You seem very dense and hint that you may have issues following what is being told to you.
I get it, a few pessimists posted negative comments so that should be enough to give up on my dream. I think you are the thick headed one, since I said if you donât have anything positive to reply, DO NOT REPLY!!! I was just looking for advice or hints on how to get an interview not someone actually handing it to me, a complete stranger. You must be used to speaking with some spineless easily manipulated people if you think a few strangers on a blog posting anonymously are going to make me give up on ever becoming a professional trader.
Move to a different bank that has market operations and work your way up, just like all the guys who will get interviews that didn't have an intial connection on the inside but have put their time in with the firm doing grunt work. Without relevant experience, a good connection or working your way up from some boring settlement position or whatnot from the inside, not only will you not get an interview, your resume will go right in the garbage. Thats not negative, just reality.