Hello all - I have been following Elitetrader.com for a while and learned a lot about trading. I am posting to get feedback regarding a position I am interviewing for as a prop trader for a CTA. Here is some information regarding the trading firm. "XXXX" is corporation that actively trades in the Foreign Exchange, International Money Markets and Commodity Markets on behalf of its clients, as well as for its own account. In addition it acts as a General Partner, Commodity Pool Operator and Commodity Trading Advisor for various limited partnerships that trade in the financial and energy markets. "XXXX" also provides a unique Financial Markets Advisory Service (FMAS) that is a trading & hedging execution service for small to middle sized corporate clients that do not have the requisite "in house" resources to manage the currency and interest rate risk associated with doing business internationally. The firm manages around 30 million in assets. The position would require me to trade based off the in house strategies on a performance base. I do not get a salary nor I do I have to contribute any funds to be hired. I have an interview next week, but would appreciate any feedback on what to expect in this type of role as well as a normal compensation package for my services ( i.e. % on profits per month, health benefits, ect.) Also, my background includes trading a system that I developed for FOREX and Interest Securities. Though the firm isn't interested in my systems, they understand that I have a passion for trading. Thanks all! P.S. If i have missed any information, feel free to post and I will answer them. Traderji
Like anyone, I do need a salary, but I have enough savings to give it a couple of months. I was thinking that a monthly draw.... Not sure if this is industry standard.
You'll be trading French Francs by day and flipping french fries at night and on weekends. You need more personal savings in order to prevent yourself from doing anything reckless if you find yourself having difficulty making money. "Giving it a few months" is not a good attitude to have.
Yes that is true. I should have more of an all or none attitude. I think it has to do with my laid back personality. Currently, trading is going well for me, but I don't have a large account. But, because of my track record, that is what got me in the door. Anyone else have anything to offer. P.S. It wasn't my attitude I needed feedback on but just the sitauation