Getting into a Trading House

N

Newtotrade82

Hey,

Having recently been let go by one of the hemorraging financials in the news lately I am looking to make a career change and get into trading (in Chicago). Either options or futures- not sure yet. I am somewhat familiar with the options industry having worked in finance and having a few friends that work for trading firms. Since I am looking to get my feet wet and get properly trained, I was wondering if someone could give me some input on getting started at a trading house. I've compiled a list of different firms I might be interested in, but have not done much else yet.

Also, I'm not sure whether I should pursue a "prop firm" or type of firm given that I am new. Any advice/suggestions are appreciated, thanks.
 
Why don't you trade your own money? Surely you must have a buck or two working in the financial industry during the bull years :D

Get a trading account, set up a few monitors, learn the game with paper money and you're set.

Most prop firms don't pay salary anyways, you eat what you kill (typically).
 
Quote from Newtotrade82:

Jaytrade, thanks for the response, though I could have done without the snark. I had already found that list as well as others, but just wanted to see what people had to say. Do all traders think they're smart guys like you? How long did you go to school to trade? 3 week course or 4? :D
More...


Why would anyone give you a job trading?

Are you serious? Trade some of your own capital. If not, spend some months virtual trading futures & see how you do.

You salaried guys lose your J.O.B. & then try to become a self-reliant trader...ain't gonna happen.

I think a lot of successful traders here on ET, myself included, *resent* any easy entry to profitable trading.

I PAID MY DUES IN FULL; AND IN ADVANCE. Have you?

It usually takes 10,000 hours of live trading to become moderately if not highly competent.

You think because you have a 3 point something GPA from some dogsh*t college George W could've graduated from that you're deserving somehow of a trading education?

Put your time in. Open a virtual account. Or pony up $5k or $10k & learn to trade (1) contract of ES or TY or C.
 
Well said man!

Quote from GCSICLRBC:

You salaried guys lose your J.O.B. & then try to become a self-reliant trader...ain't gonna happen.

I think a lot of successful traders here on ET, myself included, *resent* any easy entry to profitable trading.

I PAID MY DUES IN FULL; AND IN ADVANCE. Have you?

It usually takes 10,000 hours of live trading to become moderately if not highly competent.

You think because you have a 3 point something GPA from some dogsh*t college George W could've graduated from that you're deserving somehow of a trading education?

Put your time in. Open a virtual account. Or pony up $5k or $10k & learn to trade (1) contract of ES or TY or C.
More...
 
Quote from Newtotrade82:

10,000 hrs is just over 6 mos. of trading.
More...

If you put in 8 hours a day and assume a 40 hour work week with no vacation, it's actually over 5 years! It might take you less time to develop an edge, since it sounds like you may have done the P&L for the trading desk or been a margin clerk for ML or MS.

Just ignore the schmucks and trolls on this site, and there are many... and paper trade one or two different futures contracts. YM or ES, and maybe ZN.

If, and only after you develop an edge, and are better than break even, then deposit real money.

There is NO shortcut to being a a successful trader amigo.

good trading,

el surdo

PS: What is a Trogolodyte, I went to University of Kush?
 
You must log in or register to reply here.
Back
Top