Confused graduate HELP!

[bwolinsky]

I would say JPM. If they didn't tell you you wouldn't make money for at least two years, they weren't honest with you. Even with 250k, that's not enough to live on. Besides, anything below 500k you still want to invest to make it to 7 figures before even considering pulling out money, so the loan offer was not attractive in my opinion. Pay no attention to the borrowing 30k for trading to live on. That's undercapitalized by a lot. Need a good 100k if you really want to live off of it.

It doesn't sound like you have experience enough to make it in a prop. You need other avenues of income if you want to go that route, like waiting tables. The JPM offer sounds like the best one.

 

[adadadog]

Quote from delpz:

I have recently graduated and am eager to begin a career as a trader. A graduate position would be ideal however i was underqualified to apply for grad positions at a bulge bracket IB.

However i have been offered two jobs. One as a proprietary tarder at a prop firm, Van Der Moolen and an entry level job at JP Morgan on a trading desk. i am really confused as to which to accept. The prop firm is paying peanuts, £12 000 a year. However once confident in trading they will credit my account with £250 000 of which i have to pay £3000 a month interest, seems pricy. The prop firm offers two weeks intensive training, and further training if necessary. Is this firm a total scam. The firm says u dont need any trading experience, but how can u learn to trade in two weeks before goin live. I have traded for three years and it is only my most recent account which is profitable. Is this firm hiring loads of traders with the knowledge that all most all will fail but one will suceed who will line their pockets with gold, all profits are split 35% for you and 65% for them. On the positive side i will be able to trade 15 hours a day something i truly love.

As for JPM, it is a company i used to dream of working for, however i am worried that as i am not entering the bank through a graduate position i will receive little to no training and will be doing a simple task that a trained chicken could do, with no possibility of ever getting promoted to trader.

I am begining my career and money is of little importance at the moment. I am looking to be sorrounded by professionals who i can learn off and a job that will provide training and opportunities for the future.

Any advice on which job to accept will be truly appreciated.

Go to JP, you will see the whole world of trading! Money will come, do not worry about it now. Get your foot in firt.

 

[Mach4-1]

Quote from bwolinsky:

I would say JPM. If they didn't tell you you wouldn't make money for at least two years, they weren't honest with you. Even with 250k, that's not enough to live on. Besides, anything below 500k you still want to invest to make it to 7 figures before even considering pulling out money, so the loan offer was not attractive in my opinion. Pay no attention to the borrowing 30k for trading to live on. That's undercapitalized by a lot. Need a good 100k if you really want to live off of it.

It doesn't sound like you have experience enough to make it in a prop. You need other avenues of income if you want to go that route, like waiting tables. The JPM offer sounds like the best one.

well mister B..let me educate you a little, as it appears that you are lacking in some quarters!

$30K equates to $120K buying power - any idiot who contemplates trading knows this fact:eek:

Several stocks, priced at around $30 make an ADR of .40 to .50..or even more..imagine that:eek:

500 shares @ $30 = $15,000

5 x $15,000 = $75,000..oh look, I still have some money left to trade:eek:

3 x 500 x .40 = 600

2 x 500 x .15 = 150

600 - 150 = 450

450 x 5 = 2,250

2,250 x 40 = 90,000

and I still have over 1/3 of my capital as reserve for when those big days occur

what the fuk kind of advice do you think you are giving..do you think everyone is fukin stupid or what!

just because you lot are not able to trade does not mean that you should pass on your idiotic ways of thinking to others..as I said,,what the fuk..elite traders me arse