Ok sorry about that. I totally agree that private traders are at a disadvantage. I'm sure there are many benefits in working for a fund, but it's likely I'll never have the opportunity. I'll send you a PM.
Back to the original OPs question, no - a stint at a prop firm would actually be more of a disadvantage if you wanted to pursue a career at an IBank or fund. Retail 'prop' trading sticks out on human resources read of your resume as 'couldn't get a job with reputable IBank let alone a 3rd/4th tier one' or 'I'm a maverick and gun slinger/gambler'. If all you have is a successful track record then the CTA route is your best option.
2nd thread I am posting this I found this job ad http://www.workopolis.com/work.aspx.../JobPostingView&jobid=9458506&lang=EN&OldUrl= "Our client, the Trading Floor of a full service chartered bank, is seeking an experienced Equity Trader to lead the agency trading desk" " sucessful individual must have the following professional qualificiations and experience: four years + experience as a Retail Equity Trader with an IDA member firm (please note the client will not consider "day trading" as a component) " Zing!!!!!
this is very true. I make a living taking liquidity from hedgefunds. They're at an advantage in terms of figuring out why buying some stock will make them money in six months, but if they're trying to work a large order I will see how they're doing it and try to make money off of them. A hedgefund can't flip a 2000 share position for 60 cents because it's not worth their time; if you do that 20 times a day, and make $24000 in winners, while losing 10 times 20 cents on 2000 shares ($4000) you are still up $20k* on the day. Your pay can be more than the vast majority of hedgefund traders, except the elite who have strategies that are scaleable over billions of dollars. *I dodn't have days like that, but to make that much in the markets daily with consistency is definitely possible.
Hi Halal Burger, Thanks for the insight. But if the strategies involve mainly statistical arbitrage and options writing on equity, and if I intend to use the same strategies professionally, then how would I use a CTA license? I can't right? ======================================= Halal Burger Wrote On 07-19-07 05:29 PM Back to the original OPs question, no - a stint at a prop firm would actually be more of a disadvantage if you wanted to pursue a career at an IBank or fund. Retail 'prop' trading sticks out on human resources read of your resume as 'couldn't get a job with reputable IBank let alone a 3rd/4th tier one' or 'I'm a maverick and gun slinger/gambler'. If all you have is a successful track record then the CTA route is your best option.