I've been applying to a few different prop firms the last 2-3 weeks. Some say they're looking to hire late 2009/early 2010, others I haven't heard back from. I guess I'll explain my situation real quick; looking for some honest feedback. Thanks ahead of time to anyone who responds. I graduated from a well known school, finance degree, student-athlete. I wanted to be a trader, so to get my foot in the door (no previous contacts) I started out as a runner at the CBOT. After a few months, was hired as a clerk for a small options trading firm, worked in the pits for them for 2 years then left/let go (in a small firm like this, I was basically given the hint that there was no room for me [but there was room for the owner's caddy, no joke]). So in the end I guess I was a glorified clerk, with the promise to one day trade for them which never came to fruition. After that I started working an ordinary job for about a year, lived frugally/saved money, then opened a small retail trading account (>40K) with this money and other cash I had saved up (from college, etc. being on scholarship). I started to trade, and after a few months I find myself having to put that on the side burner and helping my dad with his small business for basically free (with the economy being not so hot) and living off the funds designated for my trading account. So back to the point of this thread, I recently applied to a few prop firms that seem legit (no down payment, small salary, etc.), and got no response from some, others say they're looking to hire in the next few months. I know a lot of these firms look for recent graduates or traders with a few years track record, and I'm pretty much right in between. Am I shit out of luck? Is it a slow hiring time for prop firms? Any honest feedback or anything that might be helpful would be great. Thanks ahead of time.
1) Read the entire thread in the Economics Forum regarding the guy with the 3.7 GPA. 2) Be willing to trade your own account again and cut loose from your father's business because it is a liability for BOTH of you. 3) You have to confront the reality that you almost have no job experience that anybody is interested in and you can't waste too much time hoping a juicy offer materializes from a prop firm.