I'm two years out of school and just now finding that I want to start a career in trading. I currently work for a large FCM doing order execution and brokerage (desk). So recently I've been researching various prop firms in Chicago, thinking the best way to start would be with a firm that will train me and have my best interest in mind. I realize I'm gonna have to start from square one now and am finding that many firms make it a habit of hiring guys right out of school. I have no problem with that. So my question, I suppose, is what is the best path to take at my point? As a side question, are all the guys trading at deriv. desks at ibanks super-quant guys or PHD's? Do they bring in amateurs and train them in the same sense that many of the prop groups do? What about clerking for a smaller group or for a local on the floor? Any insight is greatly appreciated. Thanks in advance...
Here's some insight... 1. Go to bank, and with-draw 25,000 cash. (In 100's cuz it looks cooler ) 2. Take home money, pile it up in a big stack, then take a picture of you standing next to it. (no need to smile ). 3. Find some flammable liquid, and pour it all over your 25,000 dollars. 4. Light money on fire. 5. Watch money disappear before your eyes. Try not to get mad, or depressed or wonder why you just did what you did. 6. Write a check for another 25,000 to a broker of your choice. 7. Watch money disappear AGAIN. 8 Welcome to the world of trading.
Oh boy, I see I'm already having to weed through the sh*t on this site. Cash: Keep your frustrations to yourself. I am not looking to open my own trading account and blow it up, and then do it all over again. Nor am I looking to hear the rantings of some disgruntled retail trader. If you read my post, at no point therein did I indicate I had any intention of opening a trading account for myself. So...that being said, your post simply has no relevance here.
--- -- ........uhh, ok.. whatever you say. Ask many people, many successful people on this forum and they'll tell you that they had blown out one account or more before they "made it".
I agree with you completely, but I am not wanting to try my hand on my own, thats why I said it just didnt apply to me. I dont plan on opening an account to trade on my own. Sorry if I came across like a dick. Best of luck...
Look 6pt cashmoney said it to you in a wrong way. he was direct he should have told you the truth in a different way. like this. take 25 000, do not take a picture of it. instead burn it on the way home from bank. in other words blowing up will be your teacher not prop firm. be angry all you want couse you hear the truth, I too was angry when my first account blew
Not everyone learns to trade a market on their own, by opening an account with an online broker, picking a couple indicators to trade off and attempting to get a feel for price change. But so that I can make a point, would you two mind disclosing a bit more about yourselves, such as your age, education, when you first started trading and what your work experience has been?
work experience from a real job or from trading? If from trading, then read below... I started trading this year in January. I was doing good the first few weeks and I thought I had a natural talent for trading, and that I'd be rich In no time, living the good life.... LOL!! I've been getting my ass handed to me sinse then, but I have my good days too. This morning I made over 300.00 which has been one of my best days ever (not to brag). Sometimes I think I'd do better as a scalper, but as I've learned, the grass is'nt always greener on the other side.