Recent Graduate looking for Prop Trading Opportunities in NYC area

Quote from newwurldmn:

Yeah. It works because once they get a dollar of revenue, they are likely to continue getting that dollar and they can then go for the next dollar. Plus, I'm learning, that there are a lot of inefficiencies in this type of stuff.

Franchising is tough. I did some work on it. It's a tough model to scale. We can talk over PM if you want about it.
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regarding franchising, my point was that while 90% of lets say new restaurants fail, only 25% or so franchises fail due to the fact that there is a plan and if you execute the plan you have a better shot. There are always external forces that can kill the best intentions. I think buying a franchise for a person with limited means is a lot better opportunity than lets say going to Harvard being 300K in the hole with a degree in........ medieval literature. I think the thing that attracts people to trading still is the idea of being your own boss, freedom, $$ and of course the rock star life style. :)
 
Quote from kinggyppo:

regarding franchising, my point was that while 90% of lets say new restaurants fail, only 25% or so franchises fail due to the fact that there is a plan and if you execute the plan you have a better shot. There are always external forces that can kill the best intentions. I think buying a franchise for a person with limited means is a lot better opportunity than lets say going to Harvard being 300K in the hole with a degree in........ medieval literature. I think the thing that attracts people to trading still is the idea of being your own boss, freedom, $$ and of course the rock star life style. :)
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Maybe I'm wrong, but when I think of trading, rock star lifestyle does not come to mind.
 
to add to this though et has a lot of trolls and some people with obvious mental issues, there are some real players that frequent the boards, some small, some not so small that would surprise you; as you are aware its a pretty small community and an even smaller world!
 
Quote from kmgilroy89:

Maybe I'm wrong, but when I think of trading, rock star lifestyle does not come to mind.
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that depends on the person, I remember this discussion and one guy said he knew a guy in the pit that had like 20 million plus in his trading account who wouldn't buy a new car. There are also guys in this business who drive Maseratis that would drive around the block to give a homeless guy a few bucks. Its really about what you value everyone is different that way. I have a friend of a friend who would definitely be accused of being miserly. I find this an interesting topic personally as some of the very richest people are also the most humble........:)
 
Quote from traderchi128:


Lastly.......these firms that say "Pay us for a trading education"? Stay the hell away from them. A majority of them have zero interest in seeing you succeed. They just want there 5-10k tuition. The ones that do actually bring people on and let them trade a portion of their tuition fee have huge turnover. None if any make it. A firm with an excellent strategy will hire guys, teach them, then back them with firm capital knowing that these guys will make great money for the firm and the trader. Two week classes are absolutely useless. It takes months/yrs to learn trading. Anyone telling you it can be taught in weeks/month is not being upfront. If they do say that I would love to see their turnover rate.
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For fear of sounding like a shill, I won't mention the firm's name; however, there are some of those crap-shoot firms that do a really, really decent job of training people. It depends on the instructor you get. When I say decent, I mean maybe 20-30% of their students survives past 6 months.

But, what I find is that all the wisdom that is poured upon fresh recruits is usually lost because there's no connection between the market and the experience to the wisdom. Not sure if that makes sense to you or not. I started working with some fresh guy who took one of these training courses, and he knew what they taught him, but when it came to putting it into practice, he would lose himself to the chaos of the market. But it's like trainees don't believe what they're told; it's so weird.
 
Quote from clearinghouse:

For fear of sounding like a shill, I won't mention the firm's name; however, there are some of those crap-shoot firms that do a really, really decent job of training people. It depends on the instructor you get. When I say decent, I mean maybe 20-30% of their students survives past 6 months.

But, what I find is that all the wisdom that is poured upon fresh recruits is usually lost because there's no connection between the market and the experience to the wisdom. Not sure if that makes sense to you or not. I started working with some fresh guy who took one of these training courses, and he knew what they taught him, but when it came to putting it into practice, he would lose himself to the chaos of the market. But it's like trainees don't believe what they're told; it's so weird.
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I hear ya. I just am a true believer of training someone, backing them with capital, and making a ton more over time than the few thousand these places charge. IF the guys that teach are that good and have solid strategies then the guys they train should be profitable. It takes a lot of work on both ends. The firms that hire guys need to have a rigorous interview process to weed out people. The top firms out there today have 2-3 rounds of interviews....and they are not easy interviews. The firms that charge for training then have new guys put up capital take zero risk and just collect fees/commissions. Great business model for them. The more guys they churn, the better.

The ones that have a few week training course are really misinforming the guys they train. Trading takes months/years to learn. The MINIMUM class I could see would be 6 months of training. I won't name names...but there is one out there that charges an absurd amount but has a huge turnover rate...yet they have ads claiming they are the best "trainers" out there. These firms will never talk about how many guys make it past a few months after the training ends.
 
Quote from traderchi128:

I hear ya. I just am a true believer of training someone, backing them with capital, and making a ton more over time than the few thousand these places charge. IF the guys that teach are that good and have solid strategies then the guys they train should be profitable. It takes a lot of work on both ends. The firms that hire guys need to have a rigorous interview process to weed out people. The top firms out there today have 2-3 rounds of interviews....and they are not easy interviews. The firms that charge for training then have new guys put up capital take zero risk and just collect fees/commissions. Great business model for them. The more guys they churn, the better.

The ones that have a few week training course are really misinforming the guys they train. Trading takes months/years to learn. The MINIMUM class I could see would be 6 months of training. I won't name names...but there is one out there that charges an absurd amount but has a huge turnover rate...yet they have ads claiming they are the best "trainers" out there. These firms will never talk about how many guys make it past a few months after the training ends.
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you are afraid to name names. what are u scared of?
 
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