I've read the threads. I am a recent college grad and worked a couple of months as a trainee for a full service brokerage firm. Realized brokers are really just salespeople and quickly left that to get into trading. (I read the broker bashing threads) Applied to IBs, hedge funds but missed the boat on recruiting that's done in November. I'd rather not wait and wanted to get into trading NOW. I have about 5k in capital. I have experience paper trading through undergrad classes in equities, bonds, options, and futures. I have experience "investing" with parents' capital, things commonly called moronlong positions. Any suggestions as far as, 1. Should I trade my own account with a retail broker? (is 25,000 min. for equities in effect) 2. Try to join a prop firm to get into training program and leverage of capital? 3. Wait till November to get on IB prop desk? I want to get in and do it right and most importantly last and make a career of this. Any suggestions, comments would be helpful. thanks.
by IB do you mean interactive brokers ? I really can't offer any suggestions as I don't have any experience at all with this, and don't want to offer most likely terrible advice
Investment Banks I appreciate any advice of course I understand what to give weight to as important in the markets is as important with anything else in life.
Start trading real money while looking for a job. Read the good threads on this site everyday. Get yourself a job that pays $40k or more for a year or so. Save some $ That'll give you enough time so that you 'have a clue' about the markets. Why would u want a career in trading if you've NEVER done it before ? Shit, I thought I wanted to be a financial advisor for my last 2 years of school until I started doing it and realized it was horrible.
what would be the best job and firm combination? i'm interested in focusing on equities and forex (love that 24 hour market). Should I be looking to sign up with prop firms like Jane Street, IBs like Goldman, or try to work as an analyst for SAC and make the transition to trading? I've read the threads and spoke with a few professional traders. It's all about the edge and staying disciplined with a strategy that works. as for why i want to get into trading, i love the technical analysis and staring at charts. way better than porn!