Paid to Trade

Some prop firms have analysts to work squack box during the day. We have 2. They watch the headlines and present some opinions. They get paid a salary and sometimes put small positions on. You could certainly stay in tune with the markets while gradually getting back into things. I don't know what firms are in Canada, but just a suggestion.

Good Luck.
 
You are in the tough bind. Where / when did you get your MBA from? Toronto is a tough place to break into finance, since that the Bay Street is dominated by a few large firms and very few smaller and med-sized firms. The hedge fund / fund management industry is also significantly smaller than it is in NY / Boston / Chicago.

Infinium will be a payout setup type of environment. Since you passed your CFA Lvl 3, there might be some junior analyst role available to you. If you are intereted in the US, I can get you a few places to call. Toronto, I know that Ontario Hydro Generation was hiring energy traders actively a while back, I know a couple of people that got hired there. Other than that I know very little going on. There is a prop team that was a part of Manulife that is looking for a home, not sure where they ended up.

Let me know,

Rufus
Quote from smoothsmooth:

Hey Guys,

I’m at a real crossroads right now & I was wondering if I could solicit some advice. I suspect that today will be the last day I’ll be trading in a while. DAMNED!!

I’ve been working for a prop firm here in Toronto for the last 6 months. It was probably one of the best jobs I’ve ever had. I enjoyed the learning, the challenge, & the intensity of trying to be a better trader. Over the last couple months I felt things beginning to click. I was beginning to see things & my trading got significantly better.

However, in the last week or so, trading has been real rough. Unless I had some real huge winners to put me over the top, I wasn’t going to graduate the firm’s “training” program. Which means that I haven’t been paid a cent since April & the earliest I could possibly see a dime would be the end of November. I consulted with my bank account & my bank account said “bro’ this ain’t happenin’.” I said “are you sure?” It said “sorry, looks that way buddy.” Trading hasn’t been the same ever since. Seeing that I have absolutely no bartending experience, I pretty much respectfully bowed about out a week ago. I just sat there staring at candlesticks go by with a glazed look on my face.

This is terrible shame! I loved being active in the markets. I don’t know what to do now? I’m so disenfranchised that I already have my resume prepared to go work at McDonald’s.

Which brings me to question – is there a way to develop as a trader & actually get paid for it!? That would be a dream come true! I’ve just begun checking out postings to get some idea where I want to take my career & its pretty intimidating. I have my MBA & have completed my CFA lvl 3 exam (seems to be the bare minimum these days) but I’ve only had jobs outside of the industry since them. Most jobs that are posted seems to require several years of direct hands on experience – I don’t know if 6 months of prop trading would even fit the bill for this? Does it?

I’ve been pursuing the forums all day today & I learned a lot. Quants are hot, you can easily get replaced by a black box, I-banks will chew you up & spit you out (I worked in one, its scary), if you work in the back office you’re liable to get stuck there, There was mention that Infinium Capital runs a prop desk in Toronto (but I’m not quite sure that that its salaried or payout), Refco was actively hiring in their Montreal office a while back ago & they have some training program? Etc., Etc., Etc., Etc., - I don’t know where to start. Oh well, I guess I have a lot to look into!

I’m just looking to generate some ideas – I have a lot to think about in the next few days. Any advice that you guys could offer would be immensely appreciated. As well, if you’ve been in a similar circumstance it would be interesting to find out how things turned out for you. Thanks you advance!

Smooth


:) :confused:
More...
 
You work at Hold in jersey city?

Quote from buylo:

Some prop firms have analysts to work squack box during the day. We have 2. They watch the headlines and present some opinions. They get paid a salary and sometimes put small positions on. You could certainly stay in tune with the markets while gradually getting back into things. I don't know what firms are in Canada, but just a suggestion.

Good Luck.
More...
 
Bartend or wait tables, for now. Just don't get stuck and up a 33 yr old looser like I am. I was walking with 950-1400 a week take home for 4 nites work ,28 hours total a week.+ benifits and profit sharing. It was awsome, too bad the new owners trashed the place and now I only make 500 tops and no benifits. ASS*&%$ for the same hours but at least I have the day free to trade and make just enough to get by. The thing that worries me now is when I was making the good money I was always saving money so a bad week in the market was no big deal. Now it's scared money. I have a friend walking with 2,000 a week as a bartender, man I want his job, and I could have had it too. I was offered that position back a wile ago but I was making the aformentioned figure and did'nt want to mess with anything on a new job.
BAD TRADE.
 
Quote from smoothsmooth:

Hey Guys,

I’m at a real crossroads right now & I was wondering if I could solicit some advice. I suspect that today will be the last day I’ll be trading in a while. DAMNED!!

I’ve been working for a prop firm here in Toronto for the last 6 months. It was probably one of the best jobs I’ve ever had. I enjoyed the learning, the challenge, & the intensity of trying to be a better trader. Over the last couple months I felt things beginning to click. I was beginning to see things & my trading got significantly better.

However, in the last week or so, trading has been real rough. Unless I had some real huge winners to put me over the top, I wasn’t going to graduate the firm’s “training” program. Which means that I haven’t been paid a cent since April & the earliest I could possibly see a dime would be the end of November. I consulted with my bank account & my bank account said “bro’ this ain’t happenin’.” I said “are you sure?” It said “sorry, looks that way buddy.” Trading hasn’t been the same ever since. Seeing that I have absolutely no bartending experience, I pretty much respectfully bowed about out a week ago. I just sat there staring at candlesticks go by with a glazed look on my face.

This is terrible shame! I loved being active in the markets. I don’t know what to do now? I’m so disenfranchised that I already have my resume prepared to go work at McDonald’s.

Which brings me to question – is there a way to develop as a trader & actually get paid for it!? That would be a dream come true! I’ve just begun checking out postings to get some idea where I want to take my career & its pretty intimidating. I have my MBA & have completed my CFA lvl 3 exam (seems to be the bare minimum these days) but I’ve only had jobs outside of the industry since them. Most jobs that are posted seems to require several years of direct hands on experience – I don’t know if 6 months of prop trading would even fit the bill for this? Does it?

I’ve been pursuing the forums all day today & I learned a lot. Quants are hot, you can easily get replaced by a black box, I-banks will chew you up & spit you out (I worked in one, its scary), if you work in the back office you’re liable to get stuck there, There was mention that Infinium Capital runs a prop desk in Toronto (but I’m not quite sure that that its salaried or payout), Refco was actively hiring in their Montreal office a while back ago & they have some training program? Etc., Etc., Etc., Etc., - I don’t know where to start. Oh well, I guess I have a lot to look into!

I’m just looking to generate some ideas – I have a lot to think about in the next few days. Any advice that you guys could offer would be immensely appreciated. As well, if you’ve been in a similar circumstance it would be interesting to find out how things turned out for you. Thanks you advance!

Smooth


:) :confused:
More...

Try this:www.collective2.com
There are some winners there. Maybe you can make some money with them.
 
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