Does anyone have any info on a firm that is willing to hire a trader with no capital and not much experience? or any info on how to get started in trading? I do have my series 7 so that is a start. I am located in the Orlando, FL area. Any info would be really helpful......thanks
with no capital, your best bet is schonfeld or worldco. both are in boca raton i think. i also believe one of them has a new office in Tampa but i'm not sure which one, probably worldco.
thanks for the info Bryan..........I am also willing to accept a payout of 30% just to get the experience I need. Is there any firm that is willing to except that deal?
here's the link for schonfeld, they will pay you 20-30% payout. http://www.schonfeldsecurities.com/ here's worldco....you could call them or ask "hitman", he would definitely know. (about tampa) http://www.wldc.com/
New Trader, I work for WorldCo in Boca. Yes, the Tampa office has just been opened and I am sure they are hiring new traders there. Any branch will take in new traders, but do realize that worldco has a different payout plan than most other firms that trade Nasdaq. We use a straight payout percentage and varies on the traders performance. Other firms will give you a draw or something similar until you start turning net positive. Worldco does not do this ,so if you play to sign on have some bank stored up. The markets are difficult for new traders now, so keep that in mind when you interview at different firms. From some it might be better to take a lower payout, but to get a check every month regardless or to forfeit the salary and get a higher payout. I guess it will depend on your confidence in yourself regarding the time you become net positive.
Who said anything about a 7 year contract? There is no time period that you have to stay at all. If you lose money consistantly or trade like an idiot they will cut you...simple as that. The only firm I interviewed with that required a contract had a length of 2 years with it and it was not WLDC.
You might want to take a look at these guys- They match up traders to prop firms for locations all over the country. I think they usually require a small amount of risk capital like 5 or 10k but they start out payouts of 75% or so. They may take guys with no capital but you'll have to ask them. I only had 5k to risk and they matched me up with a hedge fund that backs daytraders. http://www.innovativetraders.com/
Where can I go to get more information on getting employment as a Trader? Or does anyone know of a company that is hiring traders? I have 3 years of trading experience in the market.