Recent Graduate looking for Prop Trading Opportunities in NYC area

Quote from kmgilroy89:

I was interested in FNYS, but the word on Wall Street Oasis is that they are going under. I don't know if anybody here could verify that.

Someone from Wall Street Oasis either has an axe to grind or is making a vague and ambiguous statement.

They are a FINRA broker-dealer, and as such must file annual focus reports with the SEC.

Go to SEC.gov and click the "more search options" on the homepage. Then, on the next page, type the firm's name on the left hand side. You can get access to their 2011 filings. Download the .pdf and have it reviewed by a CPA of your choice.

Unless they had a recent "fire sale", it's unlikely a firm with over $4 billion in assets and $90 million in member's equity is "going under" anytime soon, lol!
 
Quote from ScalperJoe:

Someone from Wall Street Oasis either has an axe to grind or is making a vague and ambiguous statement.

They are a FINRA broker-dealer, and as such must file annual focus reports with the SEC.

Go to SEC.gov and click the "more search options" on the homepage. Then, on the next page, type the firm's name on the left hand side. You can get access to their 2011 filings. Download the .pdf and have it reviewed by a CPA of your choice.

Unless they had a recent "fire sale", it's unlikely a firm with over $4 billion in assets and $90 million in member's equity is "going under" anytime soon, lol!

Here is a link:
http://www.wallstreetoasis.com/forums/first-new-york-securities-kaput

I don't know how credible this is though.
 
Quote from newwurldmn:

I studied engineering at an Ivy league school. Minimum GPA to get an interview was 3.7.
He wants someone to hire him based on his intelligence, competitiveness, and passion. Like most young people he doesn't bring much else to the table; but he hasn't demonstrated any of this so far.

I guess I am biased because when I was hired back in 1992, trading firms/CTA's didn't have those requirements. Sure it looks great if you had a high GPA and went to an Ivy League school. But things weren't so strict as far as where you graduated.

I know some great traders who went to good schools and have seen my share of guys from top tier schools fail horrendously at trading. The degree and GPA get you in the door of the interview. But after that there are far more important factors that determine whether you will be successful.
 
Quote from kmgilroy89:

I gave up the idea of playing poker professionally like freshman year of college. I only posted, why trading over becoming a pro poker player, because I figured the question might come up. I could have made money by playing the lower limits. I was more concerned about improving. Poker is a game where when you move up you can expect to lose. There is a learning curve moving up. When you trade you always play against the same players, the aggregate market. It's very different.

I do have interest. I've watched a ton of CNBC, including following what was happening to Facebook all day on Friday. I've watched shows on trading. Like I said, I do have a Yahoo Finance account, but do not like the format. I'm also interested in things that have a lot in common with trading like poker. My major was in economics and my favorite course was Probability Theory.

My GPA and school are not reflective of my ability.

I understand your concerns about me. How do you think I could change those going forward?

Read Market Wizards books 1 through 3. Market Wizards 4 comes out in a few weeks. Read that too.
 
Quote from ScalperJoe:

Someone from Wall Street Oasis either has an axe to grind or is making a vague and ambiguous statement.

They are a FINRA broker-dealer, and as such must file annual focus reports with the SEC.

Go to SEC.gov and click the "more search options" on the homepage. Then, on the next page, type the firm's name on the left hand side. You can get access to their 2011 filings. Download the .pdf and have it reviewed by a CPA of your choice.

Unless they had a recent "fire sale", it's unlikely a firm with over $4 billion in assets and $90 million in member's equity is "going under" anytime soon, lol!

I was going to comment on what he said but you beat me to it. A lot of the crap posted on trading sites is usually guys who got canned from a place or has some axe to grind.

Yes...from what I know First NY has made some changes and some guys there aren't happy. But they still are a huge firm and one of the top ones out there.
 
Quote from kmgilroy89:

Here is a link:
http://www.wallstreetoasis.com/forums/first-new-york-securities-kaput

I don't know how credible this is though.

Since you're looking to get hired, I'd find out if the following post is accurate (from the link you provided). Once call to the firm and you'll probably find out more info. If they're not hiring, then it won't matter to you what they've got on their balance sheets. If the comment below is false, then you can proceed accordingly.

"They've also killed their 2 year new hire training program."
 
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