Quote from trade-ya1:
Don't listen to all the naysayers. As usual people that defeat themselves certainly will fail before they start. Small success story for you. I know a guy that had a real desire to become a trader (he runs a hedge fund now) and he had no connections into the trading world. This was back in the late 80's when becoming a Proprietary Bond Trader was near impossible. He used to hear all the same stuff people say now, need a Harvard degree, need to get coffee for like 10 years, need to have a relative in the business, etc. etc. Anyway, this guy was 21 years old, out of a State University, and had a GPA of well under 3.0 (barely got the grades to graduate). Anyway, what he had was drive and such determination that he wouldn't quit until he had what he wanted. So he luckily got an on-campus interview for an Accounting spot at Morgan Stanley (premier shop at the time) and he studied like hell about the company, the position, everything he could. He knew more about that company than his interviewers. He really showed that he wanted that job and that he would not to trade the be refused. Anyway, he got the job. He made friends with the traders on the International Equities Desk. He started going out with them, talking to them, trying to learn anything that he could. 9 months later he parlayed that opportunity at Morgan Stanley into a junior Proprietary trading job at Fuji Bank (one of the largest banks in the world at that time and probably the largest speculator of Bonds in the world at that time). He worked like hell. He was in every morning at 6 am and left at 8 pm every night. He was lucky to have some great bosses and within 3 months he was trading 4000 Eurodollar futures on a proprietary basis as his position limit. He eventually started trading the whole yield curve, meeting with top Economists in the world, Fed officials, bank Presidents, etc. He traded there for 4 years and finished up with a position limit of 3000 Bond Futures or equivalent on an overnight basis as his risk limit. He was now one of the biggest traders in the world making decisions about Fed policy, etc. In his final year at the bank, he made over $20 Million for the Firm and got paid his highest salary of $85,000 including bonus. Anyway, he transitioned that position into a position with a top hedge fund where his position limit was cut dramatically (100 Bond futures overnight max), however, he personally earned 4 times the amount in compensation in 1995 that he had earned the year before at the bank. After that he had his ups and downs but kept plugging away and always maintained the unyielding desire and single minded focus to achieve what he wanted. He's still a work in progress but he believes that with hard work and determination and taking the road less travelled almost anything can be achieved. Best of luck. I have nothing but inspirational stories for ya, sorry no job but keep at it. Many people will give up just before they would have made it. If you talk to some of the major Prop. guys in the world, many of them are not Ivy League graduates, and had no friends in the business. They were just tougher and more determined than the next guy which when it comes down to it, are good qualities for a trader.
