How do I get a job at proprietary trading firm?

[CME Observer]

I am not being judgemental, just being practical giving you the reality of what's out there. You simply have the wrong idea about proprietary trading firms. These firms are not set up to teach you how to trade. You won't learn the "tricks of the trade" from them. The two types of proprietary trading firms that @Robert Morse mentioned, the first type that won't provide you the capital, you are going to be basically the same as how you are now; the only difference you will be trading with a group of people who are pretty much in the same shoes as you. The 2nd type that does provide you capital to trade with, they are looking for people who are already making consistent profit in trading either via manual trading or with automated programming. They are not there to teach you how to trade; it's the opposite. They are learning from you by making you trade for them with capital that they provide you. Put yourself in their shoes. If you run a proprietary trading firm and are giving your money to other people to trade, would you want to give your money to somebody who has daytraded and invested for 20 years and is still not making consistent profit? If no, then you would understand why those firms wouldn't be looking for people like you. If yes, then why don't you open your own proprietary trading firm and give your money away to let other people trade it for you and you can "learn the tricks of trade" from them?

You want to learn the "tricks of the trade" in trading? I will tell you the "tricks of trade": Demo/paper trade until you are making a consistent profit, then start small to live trade until you are making consistent profit live trading then gradually increase your trading size all the meanwhile work a day job to provide yourself the trading capital/backup income you need. This is how people make it.

Good luck!

Typically there are two ways that a firm like this will onboard a trader:
- you’ll be hired as an assistant trader via the process I discussed above. In this case they will provide you with some level of training or mentorship/supervision.
- [i have no personal experience with this] an experienced trader will be hired on the basis of his strategy or perhaps other criteria in a manner more similar to what you describe above.

@curiousv To give you something more constructive to go on: you said you wanted a *job* at a prop firm. There are other ways in. Look for operational roles. Get your foot in the door and see where it goes.

 

[JSOP]

Typically there are two ways that a firm like this will onboard a trader:
- you’ll be hired as an assistant trader via the process I discussed above. In this case they will provide you with some level of training or mentorship/supervision.
- [i have no personal experience with this] an experienced trader will be hired on the basis of his strategy or perhaps other criteria in a manner more similar to what you describe above.

@curiousv To give you something more constructive to go on: you said you wanted a *job* at a prop firm. There are other ways in. Look for operational roles. Get your foot in the door and see where it goes.

What kind of "operational roles" are you talking about here? Receptionist or secretary? If that's the case, what's the difference between that and getting a day job and just trade on the side to become profitable? LOL Anyway, whatever works for him.

 

[CME Observer]

Akuna
Wolverine
SIG

 

[JSOP]

Akuna

- Accountant (which probably needs specific Accounting degree) not trading related at all,

Wolverine

- Admin. assistant doing reports

SIG

-Same as the job in Wolverine

The thing is you can look at thousands and millions of accounting statements, profit/loss statements and reports, you won't know how and why those trades are done which is the "tricks of the trade" that he is looking for. The only way to learn the "tricks of trade" is just to actually trade.

 

[2rosy]

SIG also fines value is professional poker players because they have learned logic and Odds.

knew some backgammon people there before the poker boom. but now you don't need humans as much

 

[sle]

knew some backgammon people there before the poker boom. but now you don't need humans as much

I think most of the time, affinity for poker/bridge/chess is used to find people that like thinking about risk in complex situations. In reality, working in the modern markets utilizes very little of that "gamesmanship", unless you are doing something like global macro (where it's all games).

 

[JSOP]

I think most of the time, affinity for poker/bridge/chess is used to find people that like thinking about risk in complex situations. In reality, working in the modern markets utilizes very little of that "gamesmanship", unless you are doing something like global macro (where it's all games).

You want to learn about "risk" in trading? You get burned, lose all your money and that's your risk right there. You learn about "risk" real quick. LOL

 

[curiousv]

A good trader is consistent (before he is trading 20 years). So you are telling that you are not a good trader?

When we dont know..its better to be silent.

20 years...I meant to say I am in touch with market for about 20 years ..not necessarily doing trading actively all these years...actually I was mostly in to investing ..since last 3-4 months I have started trading. I think the way I said ...it could have misled you but I still think only dumb people become sarcastic.

 

[curiousv]

What kind of "operational roles" are you talking about here? Receptionist or secretary? If that's the case, what's the difference between that and getting a day job and just trade on the side to become profitable? LOL Anyway, whatever works for him.

Did you really read what CME overserver said ?
He said ..you’ll be hired as an assistant trader via the process

That is exactly is my solution..... it is not really operational role ...its sorta internship ...you learn while assisting your main trader...

May I suggest ...STOP RESPONDING TO MY QUESTIONS.. SAVE MY TIME AND YOURS ..I don't like dumb and sarcastic people wasting my time and energy.

 

[sle]

You want to learn about "risk" in trading? You get burned, lose all your money and that's your risk right there. You learn about "risk" real quick. LOL

As a professional trader in an institutional setting you'd learn to think about risk in very specific ways. Even simple ideas on how to quantify (or qualify) your risk are not as straight-forward once you start thinking about them deeply enough.