Futex - Legit ?

Take the job ?

  • Take the job you crazy freak.

    Votes: 10 58.8%

  • Run they sound dodgy.

    Votes: 7 41.2%
  • Total voters
    17
RE: Investment banks - yeah I could apply I did a while ago - I doubt I would get in without a masters / work experience. And even then it is a long shot - they get that many applications it is just a lottery ticket. I do have contacts but I would never use them - not in my nature. Self respect means more than money.

I have in some ways little to loose from a prop deal - 6/12 months and a couple of grand in living expenses plus a huge blow to my confidence on the downside. The upside is hard to determine but potentially impressive..

I realise prop is CV poison but I am not a career type - I just wouldn't become a conventional company man so I will likely take my chances even knowing that various degrees of failure are the likely option. This could be viewed as the wrong attitude to take and more likely to lead to failure - however I am highly focussed and determined. I know everyone says this but with me it is striking and this just may be enough to get success.
 
As long as you are not putting any of your own money on the line.. I can't see what the big problem is..

- You are getting trained without actually spending anything and getting a small allowance in the process...

-You get the feel of real trading on the simulator before you start trading real money..

-The training seems to be really comprehensive unlike other prop houses which put you on line after 3-4 weeks of basic stuff..

So, even if you are kicked out after an year.. you still have learnt a lot..

It doesnt matter how much the other traders are making.. and nobody is going to give these figures anyways even if you start working with them..

All you need to worry about is that whether or not you can make money for yourself after paying the desk fee and commissions.. and both of these should be competitive.
 
I guess that one may also need to evaluate the opportunity cost of joining. I know an IT contractor who was weighing whether it was worth her while to forgo earning GBP500-650+ per day as an IT contractor, with hopes of earning million$ as a trader! How realistic is this scenario??
 
Hhmmm, if you want to work for someone without getting paid, why not apply to a respectable IB and offer to work for 50% of what they hire people for?
 
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