I have been saving up for a couple years and am now trying to take the necessary steps to go the prop route. From what I have read Kershner seems like the best fit for my situation. It provides the capital which would allow my savings to go towards living expenses while learning. Does anyone know how strict the hiring is at the company? I do not have a college degree; I'm a current student and would continue with night classes if employed at the company. I do not have any formal experience trading. Everything I know has come from books and courses. The only money I have really put into the markets thus far has been long term investments and some swing and option trades. I am extremely dedicated and have the desire to pursue this as a career so I would like to get as much information as possible about the hiring criteria. I have already read the site but would like more experience related advice if possible. Thanks
http://www.elitetrader.com/vb/showthread.php?s=&threadid=67727 I wanted remote so they are not the best fit for me.
Interesting thread. Thanks. I am also interested in Assent. 5K would take away from the living expenses but I guess it's how you have to do it for the majority of firms. I would love to remote trade, but I don't think I would last long without being around successful traders that are there to help along the way. Remote would definitely be my choice as I currently live in the DFW area and don't really want to relocate but I will if I need to. My biggest priority would be learning. I wouldn't be coming into the firm with an already built strategy. I would need to learn from others and hopefully build my own in time. I would love to go with Bright trading but the capital requirement would be too much. Not so much if I was trading remote, but then again, the learning aspect comes into play.
"3 words... big time commissions" not sure why people give replies with absolutely no accurate or intelligent info whatsoever, but this is wrong. as a new trader at ktg you will have quite low commissions; $0.00230 is what ive been averaging for the last few million shares. if you have a desire to learn and a genuine interest in the markets, you have a good chance of being hired here. the largest obstacle will be our policy of not taking any new traders unless a senior trader (someone who makes above 100k/yr) chooses to accept you as his student. hope this helps, and good luck. jack
Is the commission before or after rebates are adjusted for? At KTG it is a tradeoff. You trade off 50% of your profits, you pay more in commissions pre-rebate, and the desk fees are a little higher than average. In return you get: the opportunity to trade with no risk to you (their money). Learn from some of the best traders in the business. CHANCE to share in profits. Great Techincal Support. KTG is great for people that are making more money than they no what to do with, and don't mind giving away some of it to help the company along. Or, for a rookie looking to trade someone elses capital. However, if you are a grinder and you grind out 10k-20k a month. 50% Is a large helping to be giving away. Big Time Commissions was a joke more or less.