About a year ago I realize that I want to be a trader. I interview with a prop shop not even knowing how thier business model works. They make an offer to hire me if I put up 10k. I want to give it a try but intuitively I realize that they want to turn me into a scalper and a commision generater. I turn them down. But I don't even consider going with an investment bank instead. They recruit ivy league graduates with connections right out of college - I hardly ever see an advertised position in the New York Times. Most traders seem better off on thier own unless they have the right degree or connections to get into old boys network. If I had the degree or experience I'd definately go with the bank over the prop shop.
I realized something................
- Thread starter Pumpanddump
- Start date
Well, let's be happy that we have the opportunity to do either one. All in all, they're both good.
The opportunity is what's it's all about.
And that's what we need, an opportunity.
The opportunity is what's it's all about.
And that's what we need, an opportunity.
Firstly, prop trading as an alternative to trading for a big institution is ill-defined, there are plenty of prop trading desks at big banks or large hedge funds. However, it is a totally different game. I can not imagine someone with 10K (as someone mentioned here) and a high school education, trading correlation swaps or callable range accruals, for example. Nor would one be able to do stat. arb or something complex like that. It is a totally different game - show me a non-institutional prop trader who does capital structure arbitrage.
There are several traders on this very board who do just that.
show me a non inst. individual who has to answer to some miserable nimwad from india/pakistan/syria/china/ivy league school every day
or an inst. trader who dosent????
:eek:
Here we go, bitter institutional traders vs. bitter non-institutional traders.
Here we go, bitter institutional traders vs. bitter non-institutional traders.
