Prop trading Firms focus on Macro' Long/Short Strategy?

A

Aaron Tsoi

Hello!

I'm a college student majoring in Economics. I'm building a track record of a Long/Short U.S. Equity Options portfolio. My trading strategy utilizes Top-Down (macro & micro) and Bottom-Up (FA & TA) methods and focuses on the U.S. Equity Markets. Now I'm planning to join one of the Proprietary trading firms once I graduate from my college successfully ( Internship or Apply for a PM position as an "experienced trader" directly)

I have a Financial Modeling certificate given by CFI; My trading timeframe is around 3-6 months. Do any Prop trading firms that prefer/ looking for traders to use this kind of trading strategy? I hope you can give me some company's names then I can do research on my own for more information. I appreciate that.
 
FreeGoldRush said:
How much money has your trading strategy earned? If you have a good strategy then trade your own account. Why would you give away a fortune for a paycheck?
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Do you think it's the same as a 67% return per year on a 100,000 account and a 67% return per year on a 1,000,000? Do you think which account I can earn more money?
 
xandman said:
You want a job at The Goldman Sachs.

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Nope! I am just curious about what kind of prop trading firms are utilizing global macro / LS strategy. My goal is to work as a professional trader, and I'm not just bragging or what. Goldman Sachs and other IBs don't do proprietary business anymore (still trade Fixed Income) after 2015 due to Volker Rule. There is no attractive bonus from a prop trading account. Most of the traders now working at these IBs their roles just like sell-side not buy-side, that's why after 2008-2009, many pro traders switched to hedge funds or prop trading funds to focus on prop trading.
 
Aaron Tsoi said:
Do you think it's the same as a 67% return per year on a 100,000 account and a 67% return per year on a 1,000,000? Do you think which account I can earn more money?
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Getting 1000000 account from a prop firm is 1000 times tougher than making 67% return per year.
 
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Aaron Tsoi said:
Hello!

I'm a college student majoring in Economics. I'm building a track record of a Long/Short U.S. Equity Options portfolio. My trading strategy utilizes Top-Down (macro & micro) and Bottom-Up (FA & TA) methods and focuses on the U.S. Equity Markets. Now I'm planning to join one of the Proprietary trading firms once I graduate from my college successfully ( Internship or Apply for a PM position as an "experienced trader" directly)

I have a Financial Modeling certificate given by CFI; My trading timeframe is around 3-6 months. Do any Prop trading firms that prefer/ looking for traders to use this kind of trading strategy? I hope you can give me some company's names then I can do research on my own for more information. I appreciate that.
More...

Hey Aaron,

the prop trading model is more or less dead since HFT took over. Prop shops were mainly market making firms where people were trained to scalp. There are very few left, most switched to algo trading or have an education side - gig to pay the bills.

No prop shop would ever take on a macro/long term guy. They get 1000s of CVs a month and on average 1 out of 100 candidates makes money. Tight risk control and lots of trades is a better style for them since they can figure out sooner who's a loser and who's a winner.

Hedge funds and family offices are your best bet here, honestly. And...young man, if you are a couple of years in the business you will wish and beg for a mentor. It's everyones dream to be an independent trader but you don't even know yet what you don't know.
Do yourself a favor, swallow your pride and get under the wing of someone who has experience
 
MrMuppet said:
Hey Aaron,

the prop trading model is more or less dead since HFT took over. Prop shops were mainly market making firms where people were trained to scalp. There are very few left, most switched to algo trading or have an education side - gig to pay the bills.

No prop shop would ever take on a macro/long term guy. They get 1000s of CVs a month and on average 1 out of 100 candidates makes money. Tight risk control and lots of trades is a better style for them since they can figure out sooner who's a loser and who's a winner.

Hedge funds and family offices are your best bet here, honestly. And...young man, if you are a couple of years in the business you will wish and beg for a mentor. It's everyones dream to be an independent trader but you don't even know yet what you don't know.
Do yourself a favor, swallow your pride and get under the wing of someone who has experience
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Thank you! Mr Muppet!
Since I asked about prop trading firms obviously I don't know this industry well. I agree with you that hedge funds are suitable for people like me. And thank you for your sharing like you mentioned about prop shops' business in these days which I never know about that before, no wonder when I searched for those firms' information and said they do market-making business as well, which made me confused because I thought prop trading firm's mission is pure which they only do proprietary trading as pre-Volker traders did in IB trading floor. My mentor did tell me HF is good for me, but I also wanted to know about the prop trading business to make sure that I also have an alternative option, and that's why I asked this question just like I said I don't know prop trading industry well. I know there are many L/S funds which made me curious if prop trading firms applied the same strategy as well. But any way! Thank you for your comment.
 
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