How do I get a job at proprietary trading firm?

Discussion in 'Prop Firms' started by curiousv, Dec 22, 2018.

  1. Robert Morse

    Robert Morse Sponsor

    SIG also fines value is professional poker players because they have learned logic and Odds.
     
    #11     Dec 22, 2018
  2. Robert Morse

    Robert Morse Sponsor

    They are not looking to teach that. Are you looking for honest answers or for people to tell you what you want To hear. You simply don’t have the background they are looking for. You can join any Prop firm where your money is first loss if you don’t have a criminal background and you are willing to take the FINRA exam. You can keep you full time job if they approve it. Don’t look for anyone to improve your trading there. They simply offer an arcade for trading where you can get access leverage using everyone’s capital with fair rates.

    Personally, if you have enough capital to get 4X, I would suggest you stick with your account.
     
    #12     Dec 22, 2018
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  3. Sounds like a lot more fun than my math and statistics coursework. I assure you we weren’t playing any games in there!
     
    #13     Dec 22, 2018
  4. Robert Morse

    Robert Morse Sponsor

    #14     Dec 22, 2018
  5. schweiz

    schweiz

    A good trader is consistent (before he is trading 20 years). So you are telling that you are not a good trader? :D
     
    #15     Dec 22, 2018
  6. zdreg

    zdreg

    the answer is because there is money involved.
     
    #16     Dec 22, 2018
  7. fan27

    fan27

    Ask yourself the question....If I was a hiring manager at a prop shop, who would I want to hire?

    If you aren't bringing capital, a stellar track record or some rock star skill to the table, why would they waste their time. It just does not make business sense.
     
    #17     Dec 22, 2018
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  8. gaussian

    gaussian

    This is not how it works at all. Perhaps if you're in a market maker you'd have consistent income but these people don't look for BSBAs. They look for BSc Computer Science + either an advanced degree like MBA Finance, MSc Mathematics, or demonstration of some real talent in a mathematically complicated field that is related (Physics was the popular one years ago). Get a book on quant interview questions and work through them.

    If you're looking to go to a prop desk and trade you're not going to make consistent income. You will either front your own capital and they will basically rent you a desk, or you'll trade the company's capital in some sort of split. Either way, your income won't be consistent.

    No one will pay you to learn mathematics on the job at an MM. If you're trading at a prop shop you will likely be paying for the privilege of being trained. I want you to read what CME Observer said again very, very carefully:

    CME Observer here captured the industry of market making pretty succinctly. If the "counting cards" or "make me a market on your phone number" kind of questions don't have an instant response (expectancy value during market discovery, what happens if they know the first digit, etc) you will be pushed out the door. The interviews are as detailed and complex as a software engineering interview (approximate the number of windows in the city of Los Angeles, etc). Your mathematical chops will be tested and your natural inclination to discover and exploit patterns will be looked at with scrutiny. CME Observer is just trying to save you time and disappointment.
     
    #18     Dec 22, 2018
    CME Observer likes this.
  9. jnbadger

    jnbadger

    Then who is going to hire you?
     
    #19     Dec 22, 2018
  10. JSOP

    JSOP

    I am not being judgemental, just being practical giving you the reality of what's out there. You simply have the wrong idea about proprietary trading firms. These firms are not set up to teach you how to trade. You won't learn the "tricks of the trade" from them. The two types of proprietary trading firms that @Robert Morse mentioned, the first type that won't provide you the capital, you are going to be basically the same as how you are now; the only difference you will be trading with a group of people who are pretty much in the same shoes as you. The 2nd type that does provide you capital to trade with, they are looking for people who are already making consistent profit in trading either via manual trading or with automated programming. They are not there to teach you how to trade; it's the opposite. They are learning from you by making you trade for them with capital that they provide you. Put yourself in their shoes. If you run a proprietary trading firm and are giving your money to other people to trade, would you want to give your money to somebody who has daytraded and invested for 20 years and is still not making consistent profit? If no, then you would understand why those firms wouldn't be looking for people like you. If yes, then why don't you open your own proprietary trading firm and give your money away to let other people trade it for you and you can "learn the tricks of trade" from them?

    You want to learn the "tricks of the trade" in trading? I will tell you the "tricks of trade": Demo/paper trade until you are making a consistent profit, then start small to live trade until you are making consistent profit live trading then gradually increase your trading size all the meanwhile work a day job to provide yourself the trading capital/backup income you need. This is how people make it.

    Good luck!
     
    Last edited: Dec 22, 2018
    #20     Dec 22, 2018
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