Criteria for Hiring a Trader?

[daytraderpete]

Quote from Cre8UrF8:

A lot of people on this site seem to be angry at firms for only hiring Ivy league graduates for trader positions. These firms get 1,000s if not 10,000s of resumes a year. They can't waist their time interviewing everyone of them.

So if you don't like their criteria, what criteria would you use to narrow down the amount of applicants to interview? You need to narrow it down from 1,000s of resumes down to 100. Realistically what do you think would be the best way to narrow down the field, not a criteria that you personally would meet and would get you an interview. If you were in charge how would you determine someone has what it takes to make a good trader?

I have been hiring traders for 10yrs, I can tell you who makes it and who makes the best candidates:

Someone who:

*is willing to learn ( most aren't)
* understands they are opening a business, not a get rich quick scheme (and they convey this in an interview)
*is willing to get a part time job for the first few months.
* self confident but not arrogant (98% of inexperienced arrogant traders think they have trading figured out in a week, then subsequently quit after 6 weeks when they realize "reading a few books" doesn't make them a better trader the way it made them a better student). You should read books, but no matter what, you still need "screen time"
* has a track record of willingness to work hard.
* doesn't flinch when you tell them to they will be working 8am - 5:30pm
* conveys a competitive spirit or desire to not like losing.
* a college degree helps, but is not a pre requisite, a burning desire to learn a craft is.

Obviously not a complete list. I can tell you one thing to absolutely NOT say if you are interviewing for a job as a day trader - " I made money investing, now I want to day trade." Investing and day trading are two very different animals.

DTP

 

[ellokn]

A clear mind and brutal honesty is required.

 

[zdreg]

Thunderdog


Registered: Aug 2002
Posts: 1586


12-20-05 11:22 AM

Quote from ChiBondKing:

For the other BURNING DESIRE TD

http://www.preparationh.com/

Quote from Thunderdog:

All that matters is that it works out in the end.

obviously you are not suited to be a urologist

 

[theSnaggle]

Quote from daytraderpete:

I have been hiring traders for 10yrs, I can tell you who makes it and who makes the best candidates:

Someone who:

*is willing to learn ( most aren't)
* understands they are opening a business, not a get rich quick scheme (and they convey this in an interview)
*is willing to get a part time job for the first few months.
* self confident but not arrogant (98% of inexperienced arrogant traders think they have trading figured out in a week, then subsequently quit after 6 weeks when they realize "reading a few books" doesn't make them a better trader the way it made them a better student). You should read books, but no matter what, you still need "screen time"
* has a track record of willingness to work hard.
* doesn't flinch when you tell them to they will be working 8am - 5:30pm
* conveys a competitive spirit or desire to not like losing.
* a college degree helps, but is not a pre requisite, a burning desire to learn a craft is.
DTP

This would be about 90% of the applicants, IMO.

 

[zdreg]

Quote from daytraderpete:

I have been hiring traders for 10yrs, I can tell you who makes it and who makes the best candidates:

Someone who:

*is willing to learn ( most aren't)
* understands they are opening a business, not a get rich quick scheme (and they convey this in an interview)
*is willing to get a part time job for the first few months.
* self confident but not arrogant (98% of inexperienced arrogant traders think they have trading figured out in a week, then subsequently quit after 6 weeks when they realize "reading a few books" doesn't make them a better trader the way it made them a better student). You should read books, but no matter what, you still need "screen time"
* has a track record of willingness to work hard.
* doesn't flinch when you tell them to they will be working 8am - 5:30pm
* conveys a competitive spirit or desire to not like losing.
* a college degree helps, but is not a pre requisite, a burning desire to learn a craft is.

Obviously not a complete list. I can tell you one thing to absolutely NOT say if you are interviewing for a job as a day trader - " I made money investing, now I want to day trade." Investing and day trading are two very different animals.

DTP

how do you know that they don't like to lose?