Advice, Prop trader

Quote from client3:

Basically, is there a good chance of making it to one of the bigger investment banks (considering my background) if I did well??

Also - although it's against my morales.... But would an investment bank ever ask to see my graduation papers if I applied on the basis of my work experience, say in 2 years after doing well as a prop trader??
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With a half finished Economics degree you've got no chance. IB's recruit from the global cohort of graddys these day with at least 75% of them having a second degree.

B*****t on your cv and, if you're accepted, HR at a big IB will find out (it's part of their job)

Imho, getting your foot in the door is the most important thing for a job in the City.

Take what you've been offered.
 
Tom Cole... you are wrong... why an earth would I or any of my colleagues making more than GBP50,000 a month (ok the firm takes 40-60%) trading in a 'bucket shop' want to move to an Investment bank for a similar/lower salary and triple our hours (working with a load of posh nobs)?
 
Hi Boblman,

Are you a Bund/Schatzman as well?? I was just wondering what typical monthly returns are like in prop houses for profitable traders. Roughly how much capital would one require to make £50k a month? Cheers
 
That's right, none. Whilst there are a large numbers of failures, most people trading after 3/4 years are capable of making £50k (and many make lots more) per month (before the company takes their share). Trade the usual German and US products.
 
if the company was to take 'their share', it would be the amount the prop trader had earned after the last pay period. if the prop firm pays once a month, and you haven't received your 'share' in a month, just stop working there.
 
BoblMan, thanks for the response, although I wasn't clear enough with my question. What I really meant to ask was on what amount of disposable capital (firm's capital or otherwise) could one realistically expect to make £50K?

Say for example that the average (profitable) trader made a 10-20% gross return on "capital", this would mean that to pull in £50K a month, one would need to be allowed to take total positions of between £250-500K.

How does the prop decide how much capital/funding to allow a trader?
 
Is it possible to work in the hedge fund field for my background.

I graduated with a PhD in Science from a UK University and worked with Oxford University as a researcher for over 4 years. I am working in a well known commercial company as a senior research scientist. Through my work I have gained experience in financial, business analysis and IT, started to have a passionate interest in this field, particularly hedge fund.

I will be grateful if anybody has good idea to go into this field.

Ta.

Jin
 
Quote from Silent_Trader:

BoblMan, thanks for the response, although I wasn't clear enough with my question. What I really meant to ask was on what amount of disposable capital (firm's capital or otherwise) could one realistically expect to make £50K?

Say for example that the average (profitable) trader made a 10-20% gross return on "capital", this would mean that to pull in £50K a month, one would need to be allowed to take total positions of between £250-500K.

How does the prop decide how much capital/funding to allow a trader?
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At my company, we dont put any money down and are not in positions overnight. The average position on the bund will be between 50 and 150 lots (1 lot = a hundred thousand euros worth of govt debt 1 tick on one lot = 10 euros) Hope this helps.
 
Quote from jhli515:

Is it possible to work in the hedge fund field for my background.

I graduated with a PhD in Science from a UK University and worked with Oxford University as a researcher for over 4 years. I am working in a well known commercial company as a senior research scientist. Through my work I have gained experience in financial, business analysis and IT, started to have a passionate interest in this field, particularly hedge fund.

I will be grateful if anybody has good idea to go into this field.

Ta.

Jin
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yes. what field in science?
 
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