Recent content by Propeller Head

Yes, the thought has crossed my mind LOL. I applied to Group One, but I never heard back from them. Optiver doesn't seem to have an office in the NY-NJ-CT-PA area. I can try DRW, but I think they only take experienced floor guys to work with their team in Lower Manhattan. Unless someone here...

Fuck it. That's what I'm going to do. All this doubt and worrying is getting me no where. I appreciate all the advice.

Okay, I guess you're right. When was the last time you saw anyone on an internet forum admit to being wrong? Everyone here is right -- you either need an Ivy League degree (or semi-Ivy League, like Duke or NYU), or major connections (politics, law, business, organized crime, LOL), or the...

Any situation in which you are working on a commission basis is inherently entrepreneurial. This includes stockbrokers, real estate agents, insurance salesmen, hair stylists, strippers, taxi drivers, etc. Trading is very similar, in that you are paid based on your own efforts and your own...

This all sounds like very good advice. Just to clarify, I completely agree with your first point about Ivy League degrees being a form of risk management for the big firms. And if I had a time machine, I would go back in time to when I was in junior high school and get myself on the Fast Track...

Thanks for the response. At the moment, I live with my family, and I have some savings that I can live on. So theoretically I CAN afford to make a small capital contribution, but I'd probably blow that in a matter of months. Even if I just broke even, my commissions could run into the...

Okay, just borrowing from my own "business" experience as a stockbroker, I know there are plenty of companies that are willing to risk some time and money on a newbie. When you take a job at a typical brokerage firm, they pay for most of your licensing and registration fees, they pay to train...

Thanks for sharing that. You're very helpful. So you do research for a bank? Who trades for your bank? Where did they learn to trade? Did they have to put up any risk capital? I doubt it.

Fair enough. In that case, if I absolutely have to pay commissions, then I guess I actually do want a draw or a salary to offset my commission costs. But I still don't want to make a capital contribution or reimburse anyone for their losses. Those last two points are non-negotiable for me...

Thank you for the response. Unfortunately, moving to Canada isn't realistic for me at the moment. Anyway, I guess I can understand paying a desk fee and a software fee, as this covers the firm's expenses from just having me in the office. But as far as paying a capital contribution, or...

I originally posted this thread in the Prop forum, but I haven't gotten many responses yet, so I figured I'd ask the career traders. I'm an inexperienced newbie interested in starting a career as a professional trader in the New York/New Jersey area. The thing is, I don't want to put up a...

It seems like you really gave that response some thought. I guess Canada is the fourth state in the Tri-State Area, huh? Alright, I'll bite: why should I go to Canada? Does anyone else have any ideas? Does anyone know of any firms like this in AMERICA? Thanks.

I'm an inexperienced newbie interested in starting a career as a professional trader in the New York/New Jersey area. The thing is, I don't want to put up a capital contribution, or pay commissions, desk fees, or software fees. I'd be happy to give most of my eventual profits to the firm, but...