Hello all. Recently I got an offer from my local Bright office to sign on as an assistant trader/intern w/ the possiblity of getting backed. The backing would be a 50/50 split tops if I put up 0 capital from what I understood. Possibly higher. However nothing is guaranteed. My question is how should I prep this summer so I can make sure I get backed. I have 13K to trade w/ so I was wondering if I should a. Trade the emini (one contract only) b. Save my money, and paper trade and learn how to tape read. I guess tape reading is big at bright c. Do nothing. Have fun. d. Join the internship early and get a jump start. e. Trade some other instrument to get experience If I trade the emini and do well, I might get enough cash to just enter as a customer. Then I wouldn't have to worry about backing. Any advice is appreciated. I have a book on tape reading already and I know about the tape reading threads on elite. I just want to make this thing work b/c it is my best shot at succeeding.
- POSSIBILITY of getting backed at Bright with a 50/50 split arrangement with 0 down. Hmmm - looks like Worldco's a better deal after all. Any comments, Mr. Bright?
Is still an option for me. I might intern and if the backing doesn't come through, it's Worldco for me. I will try and go to the Chicago office. I'm pretty sure that w/ a bright internship, 10-13K up front capital and a strong desire to trade, I can get in. What's their risk? I've already got decent basic training and they can fire me as soon as I burn through my 13K. Hopefully it won't come to that.
You could also go to Echo (min $10,000) and trade there as a pro. I'm not affiliated with them, just thought I would point out this option.
What?? First off, if you were offered this arrangement, I would like to know by whom? Secondly, if you are talking about a private "backing" arrangement with a full time mentor, then make that clear for others to see. We do have some great traders who will give you hands on training, back you, take all the risks, and help you get good. No emini's, in any case. If your planning on interning with us, then it is a whole different story. If you have some capital to put up, then you will get much more than 50%, and you don't have to consider worldco (unless, of course, you go with my good friend, hitman!!). Give me a call to discuss.... Don