Question for the old timers & experienced

Quote from Cheese:

Asshole office stiff, your crybaby story looking for help said it all.

Stay with your fantasy of wanting to run a hedge fund.
Sweet.
LOL.
Or try a website where they have an active Fantasy Support Unit.
:)
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Cheesefuck:

You didn't answer my question, what do you for living? Get the c**k out of your mouth and post.
 
Phil, I've got to admit something here. Ambition is good, and if you want to run a hedge fund, fair play, there is nothing wrong with that. Why ask the question on here though?

I'm not being dismissive or destructive, i'm being realistic. Do it. But, it's a crazy question for this place. PM the people you think may have an idea about your ambition.

Get real.
 
Quote from crystalballs:

Phil, I've got to admit something here. Ambition is good, and if you want to run a hedge fund, fair play, there is nothing wrong with that. Why ask the question on here though?

I'm not being dismissive or destructive, i'm being realistic. Do it. But, it's a crazy question for this place. PM the people you think may have an idea about your ambition.

Get real.
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I have addressed your questions in my previous posts. First, I never said I wanted to start my own hedge fund. I merely stated my medium to long-term objective would be start my own CTA business or possibly set up a hedge fund. It would not be difficult to start building a track record. I am already a broker, just need to pay $1K/yr. for CTA, plus outsource any back office expenses. I could do that now, build a track record, and solicit new investments. However, I am not ready. My goal with my inquiry is I was hoping to here from guys who operate or work for a CTA or Hedgie. I would be very interested in their stories or recommendations. After spending a few days reading through EliteTrader I gathered an enormous amount of information. Frankly, I wish I had visited this site along time ago. Also, as in any forum, many people can chime in with their opinions or plights. I am assuming the majority is ambitious. We’re in this to make money. On the contrary, I think this is great medium to ask questions.
 
PhilC,

Maybe if you weren't such a prick you could get a job with a trader. Think about it.

You're gonna say Oh yeah you don't know shit, you're a failure, I'm a successful manager in Manhatten, blah, blah, blah.

I don't blame anyone for not wanting to hire you. I can't stand you and this is just from your writing. Consider getting a personality, a sense of humor, a hobby. Oldtrader gave you some good advice.

Oh yeah save your breath flaming me 'cause I already know I'm a loser.
 
Quote from duard:

PhilC,

Maybe if you weren't such a prick you could get a job with a trader. Think about it.

You're gonna say Oh yeah you don't know shit, you're a failure, I'm a successful manager in Manhatten, blah, blah, blah.

I don't blame anyone for not wanting to hire you. I can't stand you and this is just from your writing. Consider getting a personality, a sense of humor, a hobby. Oldtrader gave you some good advice.

Oh yeah save your breath flaming me 'cause I already know I'm a loser.
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Hey dope, talk to me when you learn how to spell.
 
Work a job that pays as good as you can find. Pump as much money per year as you can into your trading account. Trade your personal account for 3-5 years.

Turn your 30-50k personal account into 250k in a few years then you may get a few looks from firms. Turn your 250k into a couple million in a few more years, you def. will get an interview. But by then whats stopping you from trading your own account full time or starting your own fund?



That is how you get a job trading if your not directly connected or pedigreed.



Spending all your time and energy trying to squeeze in as a bitch boy at any "trading" firm gets you experience sure, but you need experience behind the wheel and honestly if you think about it coming in with no track record, no one is going to give you the wheel.
 
Quote from naz9403:

Work a job that pays as good as you can find. Pump as much money per year as you can into your trading account. Trade your personal account for 3-5 years.

Turn your 30-50k personal account into 250k in a few years then you may get a few looks from firms. Turn your 250k into a couple million in a few more years, you def. will get an interview. But by then whats stopping you from trading your own account full time or starting your own fund?



That is how you get a job trading if your not directly connected or pedigreed.



Spending all your time and energy trying to squeeze in as a bitch boy at any "trading" firm gets you experience sure, but you need experience behind the wheel and honestly if you think about it coming in with no track record, no one is going to give you the wheel.
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Thanks for the reply. I am pretty much doing the latter, trading what I have, building up. As I said, I could set up the CTA money management business now, but I would prefer to learn directly from someone who has a succesful operation. I always can keep doing what I am doing. Just trying to cover all the bases. Have an interview set up next week w/ 2 Sig. Again, thanks for your comments.
 
PhilC,

It sounds like what you really want is a practical education in global macro.

If studying the cocoa market is the kind of thing that makes you tick, what you need to do is clear.

Go find a job in sell or buy side research.

A quality hedge fund wants to hire people it can use, and it leaves it to the banks to train them.

That's the equation. If you don't possess the requisite skills yet, you should be knocking on doors at investment banks to get your formal training.
 
I thought I may update those who give a shit, what direction I went into. I decided to give the floor a shot. As of now, I am a clerking for options market maker.

The positive aspect, when we go electronic, I will be able to apply the same strategies since we are using (Delta Neutral). I spoke to a guy today that I had been trading and blew up his account. Now he is clerking trying to rebuild his bankroll. What he told me today was very promising. You only need $25K to really get going on the floor.

I will say this. In order to effectively learn how these guys trade, specifically market making in options, you really need to be down there. You can read all the books you want, but understanding how the strategies are applied are critical. That being said, some of the locals who shell out $20K a month to lease a seat on the NYMEX must really like the environment because they could do the same if they were trading electronic. There are many advantages being down there. Witnessing a guy coming in offering 500 lots on the open gives traders a huge advantage to scalp the market reaping huge profits before intra-day begins.

It is a very steep learning curve. I have learned a shit load over the last couple months. So far, so good. Have a long way to go before I get my badge.
 
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