My situation: I recently graduated from College in May. I worked downtown Chicago at the Board of Trade in the S&P Options pit as a clerk for my father. I learned the basics about price action, volatility, how calls puts and different styles of spreads move with the market. I took a job trading equity and currency futures in August and opened an account with some contribution. The downside was the firm didn't have any sort of training program or mentorship. I basically was learning on my own. I think that it was a great experience because I taught myself mentally how to deal with losses, if I was stuck in a trade I had to deal with it on my own. I took an online class that helped me a little. I am very eager to make myself a successful trader either by myself or with a firm. Only problem is being a recent grad I don't have any cash. I put my savings into this past account and through all the commissions and losses/gains/losses it's gone. If anyone knows of an opportunity for myself in the Chicagoland area it would be greatly appreciated. Thanks in advance all!
I don't know any firms specifically in Chicago cause I'm not there. But my advice (for what it's worth), is to apply to all of the tier one props (small salary/draw, no contribution) and if u live at home, then all of the firms that don't require capital as well. Do a little research on each so you can tailor your cover letter a bit. IF that doesn't work then you should apply to rest of the firms that do require capital, and you should be working a part time gig just in case u don't get in anywhere, and because you probably won't be making money consistently for awhile, even if your ahead of the curve. There seems to be more of these opportunities in Chicago than anywhere else, plus u should ask your dad for some help (obviously).
Your story is a bit fuzzy, considering that I used to live in Chicago... If your Dad's a local at the BOT, it seems natural to me that he's got connections to give you some leads... I'd say about 1/2 the props. in Chicago are opened by former locals so that they can get $$$ using their membership, and guys on floor know each other well (obviously, you trade with each other and want to be on the good side with everyone else...) Consider it's CBOT, Goldenberg Heymeyer's got strong ties BOT locals. Transmarket does too (they're both salary paying prop...). Gelber? Shatkin Arbor? Options floor eh??? How about CTC? If your Dad is not an option, then at least talk to your Dad's Clearing Firm. They're equally connected with other people... Seriously, you should be asking people around you.... Rather than an internet forum. (Well... I know that the Tier 1 props are getting harder and harder to get in these days with all the Quants.) Also, you mention that you learned about the market from working as a clerk. So why are you complaining about your current firm's training? I can guess you used to same pitch to get your job from August (3 months as clerk.... fired????), in actuality being hired as an experienced trader... Also, considering you use past tense... you might not be in the prop.... That's what? 4 months??? Your story is weird... Anyways, how about you going back to school (get financed) to get your MFE degree. In the long run it'll be better... What's your real situation? "Miami"??? ????