Hi, I am new to the forum. I was just browsing the internet and came across Pinnacle Equity Management and am just wondering if anyone has actually worked there or has heard anything good/bad about them? Also, I was just wondering if prop. trading experience can eventually lead on to a trading role at an institutional trading floor (i.e. a trader at an investment bank)? I am not saying whether successful records at prop. trading will guarantee an i-banking trader job; but rather, I am just curious to know whether it would be a good place for me to gain some trading experience or to learn more about the markets... My last question is, how many prop trading house out there actually pay a decent base salary? A friend of mine recently joined a firm in Hong Kong that pays him a decent 50K HKD/month base salary + bonus. And they even send him over to Amsterdam to train for 5 weeks prior to start working. Is this uncommon here in North America?
I'm interested to get some information on Pinnacle as well. I applied there a month ago and I have an interview for April (when my contract at my current job expires). Anyone have any information on this place? Thanks!
To all those interested, PM me for more info (that haven't already). To the OP, while prop can eventually lead to an institutional desk, the current view by the institutions are that they don't look too highly on prop traders, unless you did that at an firm. You definitely do learn market mechanics and see the way big buyers/sellers move around a stock to get orders filled, as well as seeing if you can handle being a trader. Most prop houses are either A)put up your own capital and they give you leverage, B)no salary/payout is % of net profits but no capital upfront (places like swift), C)base salary + compensation (usually institutions).
something you guys don't know and how could you, you all lack experience shitload of prop firms will TELL YOU how to trade, they want you to scalp like swift for example if you ever dream of making it as a trader, scalping is a big NO NO if you must go prop, go bright prop office in kelowna and maybe downtown Van
I've been to the initial interview and was invited to the 2nd round interview. However, since I won't be staying in town for too much longer, I have decided not to pursue further with the job. I found out that PEM is actually a branch of Swifttrade and therefore all the threads regarding Swifttrade would tell you exactly what PEM is. I think that the place is quite nice and the gentlemen who interviewed me (probably the manager/owner of the branch) is a very cool/easy-going person. If you have applied to PEM, be patient as I waited almost 2 months before I heard back from them. I believe that they like to hire in batches and I don't think that they would be too selective as long as you know before-hand that you are can fully support yourself for six months without any pay.