I dont think you understand my email. I didnt get fired for having a loss, i was told i was getting fired because i was hiding positions and trading over my risk limits. The problem i have is that at no time were risk limits discussed (either verbal or written, no discussion as to maximum outright positions and intraday loss limits) also i traded pretty similar to how i did every day and it only became a problem (or was only realised) when i had a loss. ie. at the end of the day, when i told my boss we were up 25k, no-one had a problem with it, and checked any of my trades.
You didn't happen to work at SocGen did you, and are just toning down the figures of your losses? http://www.elitetrader.com/vb/showthread.php?threadid=115497
Dad once hired a guy and the guy screwed up on something costing a sizeable amount. When he was called in the guy feared he would loose his job. My late father said to him: Why would I fire you? You are bright and I just invested a sizeable amount of money in you. I am confident you won't screw up again, now better go back to your job and start earning that loss back. Became one of his best employees. If the story is true then the company the OP worked for (and was fired from) is is a total loss of time (and not worth working for) and I would not worry about it. Otherwise, hmmm... If it was lack of discipline then the OP has had in the intervening time other work and can perhaps show that now he has his emotions under control. Otherwise there are still psychological assesments that can be done to see if the risk is still there. One word of advice - never volunteer negative information about yourself. But have an answer ready when asked. Sometimes it is best not to go into detail, more like "then was then, now is now", "did not consider that important, have moved on from then", "was a lot younger (immature) in those days" etc. Maria
Just a quick update. Thank you guys for all your info/help/advice. Just to let you know, i went down the honest path and told them in my interview about how i left my last trading job. They were happy with the explanation and how i have learnt from the mistake, and was offered the job! Thank you so so much, it seems in this instance honesty was the best policy, and i no longer have to worry about being "found out". Im now on the automated trading desk at a large hedge fund, and even if i wanted to couldnt repeat the mistakes of the past, as there is no more manual execution! all trades are executed by computers only. Honesty is the best policy - although im not so sure if the same strategy can work for Jerome Kervial
Excellent advise, most people don't know how to keep quiet, they just keep talking and telling their whole life story when just a sentence or two would do. Young men are especially bad about not being able to shut up. I'm not talking about the original poster.
If I knew how to make a profit of $20,000 to $40,000, 119 out of 120 days I sure wouldn't be looking to work for someone else. If the job doesn't work out, let me know. I'd probably pay you more to teach me to trade that well.
He mentioned in an earlier post that these types of strategies, b/c of their size and complexity, couldn't be replicated individually or even at a prop desk. ** whattosay - Congrats on landing the new job. Considering the current job market out there on the street, it's nice to hear some are still getting great positions.
in my experience, people usually get fired not for ability or performance, but personality clashes/conflicts. the reason given is simply an excuse or cover based on some 'rule' or a lose logical fact, where as the real reson is based on emotion.