Hi, I've been looking like crazy for firms over the past 5 months. I know I originally stated that I was willing to pay a deposit, but my research has shown that firms that require a deposit are not very good at training their employees, no matter how legit they are. They are more focused on collecting commissions and training is most important for me. Therefore, does anyone know any firms that are not very selective without deposits, in Chicago? I didnt go to a very great college and my gpa isn't worth mentioning. I'm guessing these firms would have extremely high turnover rates. Hiring people and seeing how well they do, and if they don't cut it early, they get fired. That's fine with me. I'm also trying to get a job at the Chicago Board of Trade and Chicago Mercantile Exchange but that doesn't seem to be working out. Thanks
I can tell you that to learn how to be successful over the long term you have to make your own mistakes and learn from them. Most firms got hurt pretty badly over the past few months and very few, if any, are hiring commodity traders with no experience. I would suggest opening an account with a firm that is known for it's training rather than it's trading. Trade small and tight while learning what you need to and then go out on your own. This way you get practice and your education for a cheap price without churning money away endlessly for an employer who will just reap the benefits of overcharging you and ultimately making it harder to suceed.
If you put up a deposit, make sure you can get it back if you do not lose the firm's money. I can understand prop firms trying to protect themselves against loss. However, if you pay 5k as tuition or training fee, your 5k is not longer yours even before you start trading for real. Firms like that is more into profit from their over-priced "trading courses" . They care little if these traders succeed so long as the firm keeps getting new student traders to pay the many thousands in tuition.
Yeah, that's why I'm avoiding those firms. If nothing works out though, I'll probably join GHCO because it's cheap, and then statistics show that I have like a 99% chance of being let go, but then at least I can say I have some experience and then try again.
browncoat - what is GHCO ? where is it located. How much do they required in terms of contribution and location?