How bout this one: A bird in hand is worth 2 in the bush? And I don't even have one of them there fancy economics degrees!
Floor = genuine fat edge (one of the best ways to go from 10k to $1 mill+ in a few years), a stimulating environment, you are surrounded by experienced profitable traders of all varieties, and a lot of the people are young and fast-living. Downside is you have to stand all day, can't trade multiple markets, can't trade in your underwear or play music, and floor traders aren't exactly the most cultured group of people. The other major reason to do it is that it may well be gone in 5-10 years time. This could be one of the last chances to sample that unique environment. Although I have traded mostly "upstairs", I spent a year on the floor and it was an extremely interesting and valuable experience.
I would give anything to have had a job on the floor of an exchange in my younger days. I say take it based on the fact everyone I met in this business with some great trading minds had floor experience (not that floor experience is a pre-requisite but take it if you have an oppty). Not to be rude but you are also assuming that it is easy to get any floor job so you are asking which floor job would be better for you to look for. Others may know better to tell you but I assume that a floor job is impossible to get and you are in no position to write your own ticket. If you are lucky enough to have an oppty with the guy in Euro options, thank your lucky stars, kiss his ass and take it. I bet a year there will teach you more about options and trading than years and years sitting at some desk in an office.
is this a trading group or will you be a clerk for one guy. has this guy ever backed anyone and how long would you have to wait to actually trade (dont waste more than 18 months). As for great traders down on the floor, its 2008 not pre-2000 The better places careerwise are the obvious ones: prestigious hedge funds or banks Also, learn to program but dont become a programmer
By all means I do not believe getting any job in this economy is easy. I only wanted to know which area would be the best to start in because I would do anything in my power to get that position. I am a very driven and aggressive person. I also like to learn which prompted me to ask more about what else was out there. In response to Rosy, I do not know the particulars yet. I am meeting him next week. My understanding is that I would clerk for someone but I can get back to you next week with the full low down.
That is OC's point. Without knowing someone, you are virtually POWERLESS. Aggressive & driven guys are a dime a dozen.
I do know people that trade all different things but I do not know if they have any jobs available. My question was focused on whether it made a difference if I traded options or something else. Since I have no experience I was hoping this forum would provide some guidance as to where people thought would be the best place to start. Basically, If you were to start over what area would you want to learn to trade?