what can I learn in a proprietary trading firm?

I'm a financial mathematics student. Since it's very difficult to find an intern, I try to learn something in a local proprietary trading firm. Because my major is financial mathematics, I want to use my quantitative knowledge. But I don't know what I can learn there, it's a day trading firm.

Please give me some suggestions. Thanks a lot!

 

anything that isn't in your textbooks

 

you wont learn jack unless you find a good mentor OR pay for training.

 

You will learn how bucketshops operate.

 

This is EXACTLY the kind of thinking that leads to such a huge washout rate in the trading business.

Here is a hint....you don't need to pay anyone for anything. There is enough free knowledge out there to get you started and the rest is up to YOU to figure out.

 

Why on earth do you want to go to a day trading firm.

Also, you mentioned you find it difficult to be an intern...

What type of internships have you been looking at (where) ?

With that said, I do understand that many banks, institutions are not taking on interns in the financial risk management area but there's other areas in the economy that still are.

I would go to graduate school before looking at a proprietary day trading firm unless you have no intentions of trading but was talking about working for a firm as a quant.

Mark

 

Have you visited the operations a few days to see how the place works? Do they have data and a platform for backtesting strategies? If the firm is a good fit for you there are many things you could learn there. For example, how to find and take advantage of trading opportunities.

 

The CFA charter is what you need. Passing the exams would be a good step, too. Most jobs pay 6 figures with this credential.

 

you would do better to understand this.
if you can view the world in a different light
you will not need a prop firm

www.youtube.com/watch?v=lXD7gIIpIu8&feature=related

 

Although this sounds harsh, I couldn't agree more. There is no easy fix. No get rich quick scheme. You will find that trading is not like poker online. There is only one way to learn it. Put some money down, get leverage, go slow/small, read everything you can about trading, and in 6-9 months you should be able to start taking some money out of your account. If it's a year and you are still losing, consider something else.