Steps toward a Chicago Prop Trader

Discussion in 'Prop Firms' started by cml2949, Oct 17, 2005.

  1. cml2949


    Trying to gain experience in this feild is quite competitive and sometimes anything is better than nothing .. .

    But would one support the idea that being a MARKET REPORTER on the floor could likely lead to a clerk position at a proprietary trading group? Which could lead a person to become a trader whether back on the floor or electronically?
  2. rtrading


    you have a better chance as a floor reporter than working at McDonalds on Jackson St. But, it is not the ideal job for working your way up the ladder. Try for prop. trading jobs, there are plenty in Chicago.

    Good luck.
  3. \

    Well, Maz Chadid, and Gil - president of CME, started off as market reporters working on the trading floor. Most of the people that went on to trade though did not. Many people simply were "placed" temporarily as reporters while waiting for their seat applications to be approved. I expect that the situation has not greatly changed.

    So, to answer your question, a market reporter job at least moves you closer to contacts that might hire you, or that might be useless if you dont use the situation to your advantage.
  4. cml2949


    Thanks for the insights !

    I believe that contacts can decide whether you join a group or not unless you have an outstanding background.. After I graduated from College, I applied to many groups and the only group that replied back and offered me a Trader Assistant position was the group I had a contact to..

    I've been patient for almost 3 months now, and I feel like I have to "do something" to get back in the Biz.. Trading on my own can only get me so far and could use some mentoring.. Plus I'm Broke!

    Here are the places I contacted or applied to. . .
    smw trading, vankar trading, platinum trading, price gp, jump trading, geneva trading, altea trading, tmg, group one, dpm, kingtrees, international trading gp, wolverine, susq and a few more.. Still no signs of life..

    Are these trading groups difficult to join ??

    Many might think this is silly, but I have a part time night job which allows me to enter many buildings of a few groups.. I see the office of Wolverine everyday, but haven't came across many people, or when they leave they seem to have just came out of war! But trying to meet someone there! Any ideas on that?

  5. cml2949


    There are a lot of insightful information on this board.. I agree that you know the genuine posters and ones that you chose to ignore...

    Just curious, is Timber Hill Group or Hull Blair still have existing trading groups?