Market knowledge- Prop interview....

Discussion in 'Prop Firms' started by Hockey Trader, Feb 6, 2009.

  1. Hey,

    In two weeks, I have a prop interview where the firm explicitly notes that they will give, "Simple questions to test market knowledge."

    This is reasonable and a good thing. I am new to trading by most means, but I have done reading on simple market/trading aspects such as support/resistance levels, trendlines, EMA, Bollinger bands, Force index, MACD, MACD histograms, trading channels, stochastic.

    It this reasonable? Or in your experiences would you expect something more in depth or more general?

    I have had a few interviews already, but they were purely fit and market news. So I don't really know what kind of trading or technical questions to expect.

    Thanks for the advice. It is appreciated.
  2. Damn, they just cancelled the whole trading class, apparently. I really liked what they projected and was very excited for this. Sadness
  3. If I were running a prop firm, and in an interview, someone started yammering on about MACD, Force Index, Stochastics, I probably wouldn't "hire" him, unless I was looking strictly to churn him, in which case I'd tell him to trade an EMA crossover.
  4. Would come off as "toolish" during the interview, yes? I understand what you are saying.

    If this interview did actually happen, what questions would you believe would be asked in that case? More general- Where is the Dow at? # of Job losses in Jan? What is Support/resistance?

    Or, if you were running a prop shop :) ......WHat "simple questions would you ask to test market knowledge?"

  5. Someone coming in with market knowledge is NOT a plus, unless they have a track record of consistent profitability trading a real live account, with decent numbers.

    I don't know where the dow is at (I can open my platform up to check), nor do I memorize the bullshit government job numbers, nor would doing so help me.

    I understand you want to show your dedication to the game, but none of what you're talking about knowing has any relevancy to profitability, whatsoever.

    The strategies you will be taught, if the prop firm is legitimate, will be different than what you expect.

    Questions I might ask.

    "Would you rather be the best trader in a group of mediocre traders or the worst in a group of great traders?" (to scan for retardation).

    "Where do you see yourself five years from now?"

    "What makes you think you're in that few % who won't fail at this game?"

    "If you're long a stock, and bad news breaks, and suddenly you're out of the money 10 times what you're allowed to lose in a day, what would you do?"
    [then you answer, 'i'd immediately get out']
    "But why would you immediately get out now, if you held it that long against you in the first place?"
    ["but I wouldn't"]

    Then I'd become a little obnoxious, aggravate you with my questions, to see how you responded. How you respond to the stress of an asshole interviewer might be reflective of your ability to cope with trading stress.

    I'm not sure how different interviews are conducted at different shops, but that's what I'd do, and probably not horribly off from what's done out there.
  6. Good points, NY0BScalper....I appreciate your thoughts