Need Advice

Discussion in 'Professional Trading' started by c_dawg, Aug 24, 2005.

  1. c_dawg


    Can someone tell me how I can get into trading? I'm currently working in the IT dept of one of the big IBanks. My goal is to try to transfer into trading but need advice on how to do it. Also I have a scientific education so are there classes or books I can read that might help me ace the interviews? Thanks.
  2. on the upper right hand side there is a search button.....type what you are looking for and see if anything comes up

    i interviewed at a prop firm once......the type of questions were:

    how do u feel about being paid on performance and not on salary?

    can u afford to finance yourself while trading because likely u will not be profitable for 1-2 yrs?

    why do u want to be a trader?

    they were pretty basic questions........i asked the gentleman what does he look for when he recruits for traders.....and he told me he likes people who are competitive, educated and financially capable to sustain the learning curve (making no money for 1-2 yrs)

    hope that helps
  3. Trading is a career where a guy of average intelligence can do extraordinarily well for himself if put into the right positon.

    As you can imagine, the line goes out the door and a few miles down the street for opportunities such as these.

    This lets trading firms be EXTREMELY selective about who they place into these coveted positions.

    My understanding is that the top tier NYC firms typically like ivy league grads with the idea that if ANYONE can learn to trade, the best results will be using the minds most keen to learning.

    Other firms seem to have nebulous criteria which their partners feel can lead to one becoming a successful trader. If you dont have a proven track record, it comes down to whether you meet what they are looking for in terms of personality and psychological makeup. Either you have it or you dont, and there is not much you can do to affect the outcome.

    As you go through this process, keep in mind that for what you are attempting, there are THRONGS of other people who want the exact same thing you make a wheelbarrow full of money trading while the rest of the chumps are working 9 to 5 trying to get by.

    I'm not saying its impossible....I do know some folks who have gotten into the industry. But it is very challenging. Be prepared for what you are trying to get in to.

    Fo 99 out of 100 people, IT will be a much more profitable career than trading.

  5. Everyone is attempting to make wheelbarrow's .... Its the same in every profession.

    Lots of people make a living - in some cases a good living trading. Some retire early some dont.

    Just make sure you know what you are in for in trading .... You might be very bored with the mechanics of the job unless you are good at multitasking other projects simultaneously ...