Hello. I will be graduating next year and have started to interview for various financial positions. I have interviewed with a prop firm, and was asked back for a second interview. I went on the second interview today, and I liked the firm a lot. The two people I met with were very nice, and I felt they were real with me. As of now I have no experience trading, but I am very interested in pursuing this career. I know the first year I will not be making any money which is okay because the firm pays a small salary. What percentage of entry level traders do you think actually make it, and what percentage actually last in this industry? Thanks.
Opinions please
- Thread starter spkkoz
- Start date
Less than 10% and less than 5%.
Hate to break it to you, but the prop firm offer is easy to get, the hiring requirements are pretty low.
You won't even last a year unless you start generating some profits for the prop firm. I doubt they will even pay you salary past the 6th month unless you are generating a lot of commissions. You're just a number to these guys.
do you speak from experience or this is hear say
Can you show me the evidence from those studies? Just kidding. If I get an offer it is going to take some serious thinking because I would love to do this as a profession. Any recent college grads have any input on this? Anyone have any advice for me? I would love to hear numerous opinions. Thanks...
I think at 20 years of age, you are going to have an extremely difficult time being successful in the trading game. My advice would be get a good job, work your butt off, live lean, save your money, and position trade an intermediate-term strategy to familiarize yourself with the markets and test yourself (for lack of a better phrase). As someone already said, that prop firm won't keep you on salary long if you are losing money.
Once you have your chosen 'other' career experience to fall back upon, money in the bank, and market experience you will have a much greater chance at being successful as you can leave your 9-5 job with the knowledge that you have something else in the event full-time trading doesn't work out (this will help your confidence and give you the ability to stick with your strategy through drawdown periods).
Good luck and be sure to post more if you would like additional guidance.
Once you have your chosen 'other' career experience to fall back upon, money in the bank, and market experience you will have a much greater chance at being successful as you can leave your 9-5 job with the knowledge that you have something else in the event full-time trading doesn't work out (this will help your confidence and give you the ability to stick with your strategy through drawdown periods).
Good luck and be sure to post more if you would like additional guidance.