Newbie ~ Looking for a home

Discussion in 'Prop Firms' started by jd_harris, Sep 10, 2010.

  1. Hi,

    I'm not sure if this is the place to be asking these inds of questions, but I've been reading this thread and I really like the advice some of you have been putting to others.... especially in the Epic Thread "Alternatives to Prop Shops": Love it, Like it, Can't get Enough.

    I'm going through a Career change from a REal Estate Investor to Trader. I have a small portfolio that pays the Esential bills (need more $$ for entertainment & Toys!!) and is 'passive income': Rental Income.

    So now i'm looking to add another Strategy to my Dividend Approach in Real Estate: Actively Trading the Markets.

    I've been paper trading since June of 09 using various Swing Trading Methods (just because that's fit my lifestyle: work/just had children/learning to trade). I know my Methods can be applied to Day-Trading w/ a bit of tweeking and a good mentor to help smack me upside the head w/ I do something stupid.... which as until now, the Market has been that Mentor. ouch!

    I have a few methods under my belt that I use with Technical Analysis: Range Trading Breakout (Bands/Box/Rectangles/Triangles); Price Action Patterns w/ Nision Candlesticks (Wedges, Flags, Candle-Reversals (Sashs', Counter A., Stars & Hammers, & Engulfings in conjunction with Western Technicals)); 2 Trending methods (buying/selling into strenght/weakness & S/R; and buying/selling on confirming str.); and 1 Counter Trend / Divergence method.

    So my questions is.. lol, i'm long winded: If prop shops are primarily day-trading, are there companies out there that will help make the transition from swing trading?

    If not, what might be some other alternatives? Hedge Fund putting in orders for an asset manager? Getting coffee for people (i'm not prooud!) for an investment firm or on the floor: whatever it takes.

    I don't know the range of available jobs and thier associated 'company' that I should be focusing my networking on. I have a really good friend from high school that's in the business of Asset Management that can get me some referals, but i'm not sure of what my chances are comming froom a Arts Major (Anth & Geog); US Naval Experience; & Real Estate / Portfolio Management background... w/ only Paper Trading experience.

    This is definatly the place I want to be: my "2nd Mountain (Stock Market) of Wealth to climb".

    In addition; on my resume, should I put the time frames of each Trade Method that was Traded? IE: Traded Price Action w/ Nision Candlesticks, increased portfolio from 15k-40k from june 09-july10? And Add my PnL, Win/Loss %, Profit Factor, Max Drawdown, etc?

    I want to get 'a job' in the industry to build my personal trading account, gain invaulable experience, and network network network: We are nothing but the sums of our experiences.

    Thanks for listening. Appreciate it.
  2. Here are a few links you may consider:

    Another suggestion is to get properly educated on the markets by paying for a professional training course, especially since you posted that you let the "market be your mentor." And then after getting the education, simply join a prop firm and start daytrading and/or swing trading, as some firms allow for overnights. It depends on how much capital you are going to contribute when you join the firm. That would be the fastest way to generating your "dividend income."

    Hope that helps.
  3. The HedgeFund Employment was great. Gave me some bearings to work off from. I didn't really understand how they were structured in terms of what departments there were and where I would fit in.

    So basically when applying, i'm looking for entry/starting positions in smaller firms w/ a stronger/tighter 'culture', assisting Portfolio Managers & Traders (whether it be coffee, trade execution, whatever), with a focus on HFunds that deal w/ Options & Equity plays, but have an avenue that I can learn Position Greeks trading & Volitility Arbitrage (i think that's what it's called)

    If no go, then try to get in the back office support doing clerical stuff and network network network?

    The eFinancial was good. Outside of the job search engine, it really cleared up the different job Sectors and who I should be putting resume's too.

    Question though, does Privite Equity (Buy side?) fall under Private Banking & Wealth Management or is it in a different catagory altogether?

    As for the 'Professional' education & then heading to a Proprietary Shop to Swing Trade my methods (and learn how to apply my methods to day trading), I'm assuming you're talking about 'Continuing Education': So designations like that of CMT from the Chartered market Technicans, CHP from HFG, some Series Licencing?

    Or are you talking more along the lines of Macro/Micro-Economics & something about Fundamental Analysis (B.Finance?)? Or something like proprietary trading methods & strategies?

    Again, thanks for taking the time to post. That info will help me to better communicate about where I want to be.
  4. i think swing trading and day trading are two very different beasts. many prop firms will train you