Quote from JT47319:
Iâm unsure as to how itâs done overseas, but here student loan interest is deductible. Defer the loan as much as humanly possible and elect to pay only interest. The interest deduction should afford you a tax advantage at the end of the year while allowing you to free up capital for better use, like trading your account.
Whether or not you were the best trader is somewhat irrelevant. The fact is, you still lost money for your firm. It becomes substantially different when you start to trade your own money. If you can survive your first year and become profitable, than you will probably be able to fulfill whatever potential your manager saw in you. As it is, your account is red. That's all that matters.
In several of the Market Wizards books, many of the traders became analysts or brokers. These are salaried positions allowing you to maintain a lifestyle while building your own account.
Whatever education you have is again somewhat irrelevant because it has no direct impact on your ability or trading skills. You had on the job training and experience, but as you pointed out, you lost money. Your managerâs opinion of you might help you get in the door (you did ask him for a letter of recommendation, right?).
Anyways, you can always go to hedgeworld.com, register for their two week free trial, and go to their message boards. Positions as analysts and traders are available, but from my inspection, the trading positions required experience.
Other options would be to directly contact the big name firms like Goldman Sachs to see if you can get into their program to become a market maker, specialist, or whathaveyou.
