OK, this might sting a little but I'm just being honest here. The firms that accept anyone with a pulse and a check are the bottom of the barrel. Almost none of those guys are really vetted. For the most part they have no discipline, they are nor terribly bright and not terribly competitive. Think of it this way. Say I was going to draft a professional football team in Chicago called the Schmears. I'll take anyone that comes out for tryouts. I've got 500 lbs guys, 60 lbs guys, guys that don't know how to hold a football, throw a football and guys who can't run 5 yards without getting tired. I'll take anybody. What kind of a football team would that be? Now take a look at the real team, the Bears. They get to draft the best players in college. The very best of the best of the best. And even most of them won't make the final cut. Now compare the two teams. One where I get to select only the best and the other where I take anybody. Do you get it now?
since when does intelligence dictate profitibility as a trader there are many profitable traders with different backrounds & traits that are successful in this business some people are too smart (analytical) for there own good & make lousy traders. if a trader has skin in the game. there money on the line that makes them bottom of the barrel in the firm they trade with that's is plain sterotyping to me i am sure others will disagree with that viewpoint
i have met all types of traders . met some dumb profitable ones too i try not to judge a book by it's cover to each his own
Seriously Mav, are you high or something? Tower Hill has less than a stellar rep. Far from it. I would be glad to back that up if you like. I see that they are using Takion, the "newest" platform that is just a rewrite of Anvil. Though the proprietor's name is nowhere on it, probably due to that SEC short-against-the-box investigation he has got going on. Even Harvey Pitt apparently can't quash it.
Pretty decent website at least - THT.. Too bad so often you need a 'top tier' academic record. Those lucky kids already have options in the job marketplace. I would think especially in chi-town they would downplay the academic record. 'Gotta weed out the recruits for math' I know.. I'm sure these firms would tell Matt Damon in Good Will Hunting to go F himself.. By sports I guess they are looking for killer instinct?
The thing you have to understand is these firms get flooded with resumes. When they are looking to hire one or tow guys, they get 200 to 500 resumes. They have to weed out guys somehow. If you think it's hard to get into a firm like Towerhill, you should look at Goldman. There was Vanity Fair article some time back going through the process. There is something like 40 levels of interviews. Forty!!!! It's insane guys. The level of competition for these jobs is fierce and just having an "interest" in trading is not enough. It doesn't help now that the algos are taking over. That means the competition for the few remaining human trader spots is even more fierce.
http://hereisthecity.com/2009/12/25/52_interviews_at_goldman_sachs/ 52 Interviews At Goldman Sachs - One Job Offer 8 months ago As we seem to be giving a fair bit of coverage to Goldman Sachs at the moment, we thought it would be interesting to re-run this article, which provides some insight into the firm's notoriously difficult interview process. Goldman Logo We've all heard those stories about the number of interviews it takes to get on the payroll over at Goldman Sachs, but many of those stories are received second or third hand, and lots of us wonder whether most are apocryphal. It's interesting, then, when a former Goldman Sacher comes out of the woodwork and lifts the lid on the firm a little bit. Spears ran an interview just before the Christmas break with Nicolas Sarkis, the founder of AlphaOne Partners, a privately owned investment firm, who once worked at Goldman. Sarkis, 38, claims that he had to attend 52 interviews before landing a job at Goldman in 1992, and kept hearing the same words throughout the recruitment process - 'team player', 'dedication' and 'client focus'. He also says that, during his fifth round of interviews, a trader suffered a heart attack on a trading floor, slap-bang in front of a number of interviewees. It would make good reading, of course, to report that the trader carried on regardless, and ended up having his best trading day ever, but alas, he was apparently taken out on a stretcher. It's good to see that Goldman traders are human, after all (or at least some of them were in 1992). AlphaOne's founder also claims that the Goldman training course for new hires was 'like a military training camp', and that many new recruits left the firm soon after joining because they thought it was 'a madman's house'. Sarkis also says that he was threatened with the boot twice during his first week on the training program, and was once chased into the toilet by the head of the program, who demanded to know where gold had closed the day before. Other Goldman interview 'legends' (urban or otherwise) that have popped up in the past include the one about the young female professional who, having successfully made it through over 30 interviews, was at the last hurdle. 'If you get through this interview', the senior Goldman employee is alleged to have said, 'You'll get the job. The problem is', he is said to have continued, 'I don't like women who wear green jackets'. The woman, of course, was wearing a green jacket. She is said to have come away without a job offer. And then there's the story about the nervous interviewee who entered another senior Goldman executive's office, only to find him with his feet on the desk, watching Bloomberg TV. Not wanting to disturb the Goldman God while he was clearly deep in thought, the interviewee remained by the door and said nothing. After about 10 minutes, the interviewer looked up and said: 'Well, if you can't distract me from the TV screen after all this time, you'll not be much good to Goldman Sachs. Shut the door on your way out'. But individuals who get declined by Goldman can take heart; the firm once famously turned down Lloyd Blankfein, and Blankfein, of course, ended up CEO of the firm, after joining another company which was later taken over by Goldman.
How about this one. For all you FX traders on ET. And no, I have no affiliation with this firm. FX Trader Geneva Trading - Greater Chicago Area Job Description Geneva Trading is seeking active FX traders to join our High Frequency team. If you have a consistently profitable record and are interested in expanding into different markets we invite you to apply to this position. Geneva offers a superior platform of cutting edge execution technologies, exceptionally fast global exchange connectivity and co-location facilities, competitive rates and compensation packages, and the benefits of working with experienced support staff, technologists and management team. We pride ourselves on forming mutually beneficial partnerships with our traders and maintaining long term commitment to their personal development. Desired Skills & Experience Experience in strategy/model building Strong understanding of fundamentals of FX Cash Trading Outstanding product knowledge, trading methodology and market insight Demonstrable consistent profitability record Impeccable risk management discipline Competitive nature Pro-active and progressive approach Excellent communication skills and experience working within a team Educational/Experience Requirements Bachelorâs degree in Finance, Economics, Mathematics, Statistics or related field Minimum of 2 years recent experience trading in FX Cash markets Proven results in a similar position Company Description Geneva Trading is a global multi-strategy multi-asset class proprietary trading firm. Founded in 1999 in Dublin Ireland, it now has more than 150 traders and staff worldwide and is a top volume player in more than 13 global markets. Headquartered in Chicago, the firm provides advanced technologies and connectivity to its trading floors and offices in North America and Europe.