Hi I have a question for you guys. I'm interested in becoming a pro trader for a firm. I've been trading for a couple of years. Mainly on practice accounts for the first couple of years. The last six months I've shown a solid return by turning $3000 into $22000, I did this through writing options way outside of the money. I just got hired with Morgan Stanley as a "wealth advisor" I don't really want to do it. The only reason I'm taking the job is because I'm hoping for a shot as a trader. My question is this do you think I could go from a weatlh advisor to a trader with Morgan Stanley? Let me know if anyone has any suggestions.
He is a seller of value added services to the MS client base. a telemarketer of stocks. So he will cold call MS clients and push "strategies" or help them "review their accounts". BTW, no chance at trader job. This is a sales job.
So you think there's no chance of me breaking into trading from being a wealth advisor, even with a good track record.
i doubt you can go from sales to a trader unless you apply for it once you're inside and know the people. You can make a lot of money doing what you're doing at MS though. I have a friend who works for Prebon (Collin Stewart Tullett) in Singapore but she told me they're hiring globally for traders. If you're interested, go to their careers page http://www.cstplc.com/CST_Careers_E.htm Just a thought.
Honestly, I doubt it. I believe you will be sent on training to learn to sell products. That's about it. Have they mentioned training? What about a commission structure for selling? If "selling" comes up too much, then that's what the job is.
Places like Morgan Stanley do not want traders selling naked options who come in through the sales route as a wealth advisor. Especially with the risk you took on to make that money. If MS has a trading desk for options, then starting there as a clerk or gopher is the only way you can do it as an entry person. Wealth Advisors receive no trading training at all, you receive SALES training. The Series 7 exam you take for the position is as close to trading info as you will get. Not speaking from personal experience, but from 3 friends who went that route hoping to get into trading. I really felt for those guys because they just did not want to see the handwriting on the wall.