Hi, a new member here. I found this forum while doing a search for SMW trading. I was referred to that website by a friend and was told they train people to become floor traders. I am currently looking to get into trading, and get training some how. I am only a year out of college. Can anyone provide any insight into how one gets to be a trader, and how to get into that specific niche? Any help would be greatly appreciated!! Thanks.
Just hear a lot about bad things happening to floor traders, some out of jobs now and all that. Just thought it was interesting people still might want to try to become floor traders in this day of technology and super fast computer systems trading and all that. But it is possible, just seems like a much greater challenge.
yeah, that's what i hear too. i guess just more interested in trading in general. really interested in that type of career, and would love to find out more about how i can get into it.
If you have 5K, you can get a "trader" job at any prop firm. Training....we'll, thats gonna be tougher to come by.
How does it all work? becoming a trader i mean. and not a day trader either. i mean people out there in the pits, or behind the computers trading for their firms. is there any specific career route you have to start with?
The people in the pits are either brokers or self made traders who lease or own seats on the exchanges. Many of them started out as clercs or runners on the floor. Most of those jobs are throught connections, unless you can buy a seat with your own money. The traders working for firms started out in similar positions at banks or brokerage houses. Many of them did PnL or back office work before catching a break. Many others started out as analysts or quant guys. In short there is no clear cut path to becoming a trader, unless you already know some traders and they are willing to take you on as an assistant. The best thing you can do is get a good education in math and finance and then get your foot in the door with an I-Bank. Once you are in the bank you can try to make connections and learn from traders, one day one of them might take pity on you and offer to mentor you. Don't let this discourage you. All those traders you hear about started somewhere! -Neo
Dont you have to have like a million to trade on the floor?..and if your leasing a spot, its like 56k a month..right?..I could be wrong. - nathan