Just wondering, I live in The Netherlands (Europe)and I've worked and traded my way up to a saving acct of $30K (Took 2 jobs at the same time, worked at night and weekends and traded whenever I didn work (+15% in 4 months on a retail acct (2*margin) and only daytrading) and my only way into trading is by start trading at a pro firm. I'll have to put up 20K which are all at risk since non of the firms is insured, I'll have to pay $0.01 / share + ECN (Total $0.012) , pay $200,- / month desk fees for a remote trader, pay for my own equipment (computer / internet connection (In my town cable hasn't arrived yet so I must work with 64K ISDN internet connection cost me $250,- / month or $500 for 128K)) I also have to go and work part-time at my current job (To create time) and as soon as possible quit my job totally. I think you guys have a great advantage by living in the US, having all the pro's around you and giving (some of) you the opportunity to start trading at their firm. You get a pay-check, pay low costs and get trained. I would take such an opportunity with both hands and stop complaining about how live might be afterwards. And to all the firms, is anyone offering remote prop trading ?
Ethanbrooke, I have an MBA from the UVA (Darden) and I know that several top business schools really value any etrepreneurial experience the candidate has. Experience in trading at the professional level would be a dynamite qualification. Don't worry. The question you should concentrate on should be whether you want to invest 2-3 years in an MBA program. What's your ultimate professional goal? Imo, the MBA is the degree that leads one to the deepest levels of professional slavery. Although you don't really need to trust me on this, at least consider that I've been there, and have done that...
RSprengers, what firm will you work for ? Why not just use IB or other low cost EDAT ? (OK then you can only trade your money, I know, but it would cost you less.. unless you intend to trade Euro Stocks, then of course IB is no go). tntneo
I'm currently trading at IB, want to get better (faster software) and more leverage. I'm currently checking EchoTrade. Just wanted to mention the advantage of pro's around your area
Yeah, it has been the "law" for a few years now. If you're not licensed, then you are treated as a retail customer of a brokerage firm. Don't let the exam sway you.....remember, all the "brokers" in the country have passed the test...how tough can it be??
..... Don't let the exam sway you.....remember, all the "brokers" in the country have passed the test...how tough can it be?? ..... What time, really is necessarry to learn everything for the exam? Lojze
I don't have any current experience with the test however, in the late eighties I owned a B/D and we put about a couple of hundred people through it. We had a full time trainer, and some people were ready to take it after a couple of days, and some never passed it. I didn't think it was very hard, however one of my partners, MBA type, taught finance in college, could not pass it if his life depended on it.