Need Advice: 3 Job Offers

Quote from murray t turtle:

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Chitown walley;



a] Echo echotrader and add;

b] As for the floor position, are you outgoing-extroverted or athletic?????;
no where is it written you have to be , but cant help but notice most are, that are on floor.

c] Even though was born in 1955, on a major decision like this would , if possible run it by Dad, Mom, or Grandad, grandmom, and would consider pay since I dont like working for someone else and never have liked working for some one else.
:cool:



Hope this helps
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I didn't think answer (a) would include echo or ect... They don't pay a salary for even 3 months
 
Send me a PM with the names of the firms if they are in Chicago. As Nitro said, focus on the firms with the ability to innovate. They will survive and can take you higher. Did you visit the firms? What is your gut feeling? What were you promised? Have you talked with any of the existing traders?

Someone here might have had experience and can provide objective feedback rather than picking number out of a hat.
 
Chicago Wally,

you're in a good position if these offers are really solid.

you might lose the opportunity, but call back and ask them what they felt made them offer YOU the job over the other candidates. That will help you focus on what you'll have to continue to sell to them going forward and then see whether you can or won't be able to last more than just a few months.

You see, most candidates put on the dog and can only keep up the front for so long. If what they saw was an intrinsic value or quality, then you should be able to last longer there than elsewheres. This only gets you past the first decision choice.

Some people put off taking job B or job C and take job A with the intent of leaving whilest keeping the other seats hot and on hold. That was and remains a dangerous game and is never recommended as this is a licensed industry and word spreads on who's who.
 
Quote from ChitownWally:

Fellas,

I'm a newbie to both this forum, and to a lesser extent, trading in general. I recently graduated from college and was lucky enough to secure three job offers from three professional trading firms. I'm not sure which would be best for launching a career in trading, and would appreciate any advice you guys have to offer. I'm a little torn as far as floor vs. screen, as well as options vs. futures. I know electronic trading is the future of trading, but some good stuff remains to be learned on the floor - especially in options I hear.

The first offer I got was from an equity options market maker. They're totally on the screen and place a heavy emphasis on technology (I think they 3-5 programmers for every trader). There's a three month training period with salary, and then it moves to regular commission/draw. You eat what you kill, I guess.

The second offer was at another options trading firm/market maker. This position would be on the floor of the CBOT as a clerk in the treasury options pits. Yearly salary plus bonus. This firm is also tech-heavy, with a hybrid operation of screen/floor traders.

The third offer I got was from a well respected prop. firm which pays a yearly salary plus bonus as well for up to three to five years. The position would be first as assistant trader/trainee, then as a full-trader in treasury futures. On the screen as well.

Any advice would be greatly appreciated. Thanks guys....
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All of your offers fill employment spots that are not leading anywhere and are not important for gaining experience for skill development and for individual operating independantly making his own money.

Each employer needs bodies and is asking you to be one in one of these product applications:

a. equity options market maker
b. treasury options trading firm/market maker
c. treasury futures

The trading skill base for each is:

a. a mechanical robot (3-5 programmers for every trader)
b. clerk (paper guy) (treasury options pits)
c. prop. firm (trader in treasury futures)

After the fact, I found out

1. I needed a job to get $.
2. I needed to use $ to make $.
3. I needed to know how to make $ using $ to make $.
4. I needed to know where $ is made rapidly and with minimum risk.
5. I needed to know how to know

All jobs give you money. Knowing how to make money in the places where money is made rapidly and with little risk is a self taught thing hindered only by not know how to know.

All these jobs are missing 2, 3, 4, and 5. Key off words: robot and Treasury.

Work to save money and to look for another opportunity that involves people who are skillfully making money rapidly. Try to meet people. Try not to do any OJT if you can help it.
 
don't take the prop job. that's your last last last resort when you got nothing else when even burger king isn't hiring.

take the options marketmaker trainee job. be exposed to options volatility and master concepts of hedging, repairing positions, and options risk management. those are good areas to know if you ever want to survive for a long time in trading.

of course, you can learn on your own, but i doubt you'll get that education at a futures prop firm if you don't.
 
Quote from newguy1:

why the knock on the prop job?
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He probably worked at a prop shop before and was a failure and had to return to pushing carts at the supermarket.:eek:

And now hes bitter and blames the prop shop for not making it in the trading game
 
I recently had a similar dilemma ... 3 offers, 3 different areas:

1) prop firm options market making trainee

2) electronic futures trading in the treasuries. yearly draws, 70-30.

3) small prop firm clerk in treasury pit.


ultimately, after talking with several knowledgable people in and out of the field, I elected for 1). Weighing most heavily in my mind was how STRUCTURED and FORMAL the training process would be.
 
Quote from Nutzo:

He probably worked at a prop shop before and was a failure and had to return to pushing carts at the supermarket.:eek:
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nope, not pushing any carts at the supermarket, but i do drive a jaguar. thanks for asking.


And now hes bitter and blames the prop shop for not making it in the trading game
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not bitter at anything at all. why would i be? and what's up with personal attacks? you have a lot of irrational hatred for strangers in you...

so how are you doing?

(you don't have to answer. it's a rhetorical question. i know how you're doing.)

:cool:
 
Quote from Anseld:

don't take the prop job. that's your last last last resort when you got nothing else when even burger king isn't hiring.




You seem like you are calling Prop traders the bottom of the barrel.

And lets not get into material possesions, personal achievements,etc......cause I'll end up winning that game as well:p
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