need help for new and want to get in prop trade....

B

blacktv

hello everyone. i am have BS in Chemistry (sadly not finance), and since 2 years ago i start get into stocks with tinny account, i feel i would be very interested to get in to prop trade world and want to survive there.
so there is the problem, i am living in NY, i don't know where to find the prop firm will take me, since i am not new graduated student anymore, and do not rich, ( want to start with about 2000-3000$), i don't know how much they will charge for program fee(hope less than 100/month) and desk fee if trading on their building.

please give me advise how to get in one or maybe can use your connects help me hook up one ( hope i didn't ask too much)

thank you
 
First, you ought to think about getting your series 7 license first.
While you are doing that, do some trading...build a track record....even if you have a small account.
Series 7. This exam is required to become a general securities registered representative. The exam is a rigorous six-hour test that covers all types of individual and packaged securities, including stocks, bonds, partnerships, UITs, mutual funds, and variable annuities, as well as ethics and securities regulations. This is considered to be, by far, the hardest of all the securities exams.
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If you have that and some trading experience, you might get sponsored by a prop firm
Good luck !
 
blacktv said:
so there is the problem, i am living in NY, i don't know where to find the prop firm will take me, since i am not new graduated student anymore, and do not rich, ( want to start with about 2000-3000$), i don't know how much they will charge for program fee(hope less than 100/month) and desk fee if trading on their building.

thank you
More...

There are several registered prop firms, some of them with offices in New York, such as Avatar Securities and Chimera Securities. You'll need to get sponsored for the Series 56 by the firm, and complete a background check. However, most firms will require at least $5k.

Chimera is unique as they have a training program which they do NOT charge any "program fees" to the trader. It's for newbies entering the business, so I'm not sure if they will take you. The best is to give them a call and see if you're a candidate for their training program.

If you're limited to $2k-$3k, then you may want into look into trading futures (S&P E-mini, Nasdaq, etc).

You can open a futures account with limited funds, however if you're not well versed in trading futures, then you can look into Top Step Trader and see if that interests you.
 
ScalperJoe said:
If you're limited to $2k-$3k, then you may want into look into trading futures (S&P E-mini, Nasdaq, etc).

You can open a futures account with limited funds, however if you're not well versed in trading futures, then you can look into Top Step Trader and see if that interests you.
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This is great advice.....forget stocks with anything under $10k.

OK, So....here's your plan:
1) create a decent track record
2) get sponsored by a broker-dealer
3) take series 7 and series 56 exams
4) join a top notch prop firm with 10:1 leverage
5) Start making an average of $1k-$2k per day
6) go on to fame and fortune
7) buy a top-end Porsche http://www.porsche.com/usa/models/911/911-carrera-s-cabriolet/
8) start dating the smokin hot babes https://en.wikipedia.org/wiki/Sofía_Vergara#/media/File:Sofía_Vergara_May_2014_(cropped).jpg

At least that's what I would have done.....
 
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ScalperJoe said:
Chimera is unique as they have a training program which they do NOT charge any "program fees" to the trader. It's for newbies entering the business, so I'm not sure if they will take you. The best is to give them a call and see if you're a candidate for their training program.
More...
thank you Scaperjoe, i definitely will reframe my resume, and send email to Chimera this weekend to see if i got a chance.

and thank you Siswizard for share your life, i am not sure if i can duplicated it. but still thank you
 
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