college grad seeks advice...

N

NCWoods

I'm a recent college grad who wants to get into trading. I have no certifications at this point, and want to get my foot in the door and start learning the ropes while hopefully getting certified for my series 7 and 63 and whatever else. I've got a job offer from a prop shop firm, Goldenberg Hehmeyer, but I'd be trading futures and would have to commit for 4 years. Also, they won't sponsor me and I would like to ask the experienced traders out there what they thought. Clearly I'm a little wet behind the ears and just need some other input from people who know the business.
 
GHCO is a very good firm, so I say you are on the right track. I assume you are in Chicago so there are a large number of good reputable trading firms that hire graduates. But I don't understand what you mean by not sponsoring you? Is this really a job offer?
 
I would NOT take the GHCO deal ever check around and form your own opinion. I know many people still working there and so I get to hear many things and far too many complaints from people who I trust to tell the truth. But hey that is just my opinion. By the way at GHCO you will never take the series 7 etc, so you can forget that idea now as its not in their business model. Just do a search here for past GHCO threads and if you go way back you will se heavy criticism, well what is left of it as they censor this site every time someone goes into too much detail. There are so many firms out there that non-competes and fussy contracts make them a firm to avoid, but that is for you to decide. Just ask around and check the threads.
 
I'd say wherever you go, get anything you think is important in writing (salary, draw, payout, commish, fees, ect.)

Having a similar situation to yours, I would have appreciated this one piece of advice 6 months prior.
 
Just get a normal trader job at a big house - offer to work at half-pay or free, and you'll get more experience, more training and more exposure to real industry professionals.
 
Quote from tomcole:

Just get a normal trader job at a big house - offer to work at half-pay or free, and you'll get more experience, more training and more exposure to real industry professionals.
More...

I concur...Prop shops destroy a resume. and you can learn much more while getting paid at real firms.
 
Why does working at a prop firm destroy a resume? What is the reasoning behind that statement?

Quote from dac8555:

I concur...Prop shops destroy a resume. and you can learn much more while getting paid at real firms.
More...
 
Quote from dac8555:

I concur...Prop shops destroy a resume. and you can learn much more while getting paid at real firms.
More...

If you are successful and profitable why the heck would a prop shop destroy a resume?
 
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