Career Advice Needed

I agree with Entropytrader to a certain degree. At least for me, the IB world was not a long term direction I wanted to pursue. On the other hand, I might not be here trading now if I hadn't worked there and learned a little from my experience. I never worked for a fund, but if it's a small one, it may be a substantially different experience.

check out:
http://hedgefundcenter.com/
 
I’d definitely take a job at an IB or hedge fund. But I wouldn’t want to put in an extra 20 hours of forced unpaid overtime every week. I wouldn't be happy with unreasonable trading restrictions either.
 
The yahoo group Trading_systems is all about math oriented stuff and arbitrage, or least the moderator is. You might post your question there and get some more light on your dilemma.
 
Get a job, 1 year or so at an IB or HF, wherever you end up, you will be able to learn a lot of different stuff and meet people.
Don't wate your time, get a job, get a perspective and then do your own thing.
 
Quote from timytime:

I can not see how joining a prop shop would hurt your career. It would give you a good view of futures trading and some experience in the execution part of the business.
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I totally disagree with that. If you want to trade futures and learn how the actual market works, you are at a huge disadvantage being off the floor. If you want to learn about pivots, and trends, and a bunch of other shit that doesn't work, go trade prop off the floor. If you want to truly learn how the market works and talk to people who actually make money at it, the floor is the only place to be...

There is a reason that the IB world frowns upon prop shops but not on floor traders (or even runners, since you gotta start somewhere)...keep in mind you can still trade electronic markets from the floor.
 
Quote from bungrider:

go to the floor in the meantime. you will learn lots even if only as a runner plus you will actually get paid. <b><font size="5">you're not going to make shit trading futures in a prop shop</b></font size>.
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what if it read like this?
 
Quote from bungrider:



There is a reason that the IB world frowns upon prop shops but not on floor traders (or even runners, since you gotta start somewhere)...keep in mind you can still trade electronic markets from the floor.
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the IB world frowns on normal citizens even referring them to the ordinary Charly Schwab operations instead of their "unwavering attention brokers".

the IB world frowns on non-Ivy league employees, and then finds Ivy league employees too fickle to generate consisttent results

the IB world frowns.....
 
Quote from chs245:

No point in trading futures through a prop shop because:

1) the only reason to join a prop shop is to get leverage - which you won't need since you get enough of that trading futures.

2) the prop shop will not teach you anything of substance - they teach the same scheme to everyone, which is a guarantee that it won't work very long, if at all.

If you want to learn, to go hedge fund or I-bank, or find an experienced trader who is willing to tutor you.

Oliver
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this is really good advice
 
Quote from dtm_9:

I don’t mind doing coding or stuff like that as well, or working funny hours. Its just that, well these jobs are rare, or I don’t know who to talk to or where to look. It seems the head hunters post the same job opening month after month, and I have got no responses yet.
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you've just learned one of the lessons that just about every Bschool Grad knows well....agencies don't exist to facilitate getting jobs but screening out good candidates and allowing through those who "fit a certain criterion"

enthusiasm is part and parcel of the job search, not just oggoling over a resume

job fairs, although these aren't as common as they used to be, are the best avenues for realistic advice, offers and assessments of the industry

you might find that the opportunity looks better on paper than in person and choose otherwise than the trading career
 
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