I go to DePaul and they are actually cutting their options and or futures class. I was also looking into prop trading, however I couldn't find a company that provides me with a decent amount of training. I am also a Finance major and very highly motivated to work with the markets. If you find a company with good opportunities to learn and expand with them, send me a p.m.
Hmm good advice in this thread ... i've taken futures and options classes and i know programming ... not having much luck getting jobs at hedgies though ... i'll try the bloomberg route and see how that goes.
to be honest all you need is to be is " HUNGRY LIKE A WOLF" ambitious and focused and that right there will trump any harvard grad/Ctt programmer/ so called financial book theorists. good Luck my friend..
Alright, so here I am, "HUNGRY LIKE A WOLF" ambitious. I graduated in May from Hillsdale College with a degree in Political Economics. Spent this summer working as an intern for a CFP, decided that the retail side of this business is the last place I want to be, and have since felt an intense draw to trading. I've spent the last few months reading everything I can find on the subject and am starting to send my resume out to as many prop firms in the Chicago area as I can find. I'm brilliant, young, brash, and naive. What advice would you give a young college grad with no experience who's trying to find somewhere to cut his teeth in the chicago area? Very helpful thread by the way!
i would try Chicago Trading Company for the reason that Sheldon Natenburg, author of the book option volatility and pricing seems like a down to earth realist type of fellow, i met him wednesday in my derivatives trading course. besides that i would hang out where traders or trading companies congregate (trade shows, financial functions, merc or board or trade) with resume in hand. also contact every financial institution (i-banks, prop firms) there and you're bound to come up or be referred to someone who's interested in you. JUST DON'T EVER EVER GIVE-UP
From my four interviews, be well versed in verbal stat questions. Quick mental math of fractions and algebra helps. "Why do you want to be a trader?" is a common question. "What skills do you have that would make you a good trader?" "Can you program?" "What classes have you taken that you believe have prepared you to trade?" I generally got a lot of resume related questions. Be assertive agressive confident and prove to them you are the best man for the job. Unless you're looking at Susquehanna, your school/GPA doesn't mean much. Here is a quote from the PBS documentatry of LTCM STAN JONAS: Over the last several hundred years we've been able to identify some people that can do it better than others. They don't necessarily go to MIT; they don't necessarily have degrees in mathematics, though that doesn't automatically rule them out. They're the kind of people that can make that judgment that says, some thing's different here, I'm going back to harbor until I figure it out. Those are the kind of people you want running your money. Whatever you do, don't give up. Make calls, find recruiters, go to career fairs, get business cards. Hunt these people doewn. Getting an interview does not come easy. These places get flooded with resumes and there is very little to make one stand out from another. Watch Boiler Room lol.
Something that helped me and I offer as a good suggestion is offering to work the night shift. Find a firm which has, or needs night guys. Its getting harder and harder to get in with a firm, but if you want it enough this is probably the best route. I worked 6pm-6am, 5 days a week, and after a year and a half got a spot on days. Goodluck.
apalmer You went to DePaul? How hard is it to get in? I will be graduating early next year from high school and plan on going to college in chicago to trade. I have a 3.0gpa in high school and got a 21 on my act (I know what an idiot right). Is that good enough to get in? I also have plenty of other credentials that should help make up for the academic lag. What other colleges would you recommend? Good Trading
... We have old-timers (started their career in the Chicago trading industry over 10 years) writing stuff... The fact of the matter is... if you want be big in these days... you need to be programming or analyzing quantitatively... If not, you can look at yourself as a "trade desk" role with a business card saying "Trader" Runner??? Clerks??? Sheez... Yellow jackets have no future... Just to let you know... 90+% of the newcomers end up not making it... Perseverence is the key.