SMW Trading

I say it's just OK because they group you in with a group of guys. Some have been there over a year and some have just started. So you spend a majority of your time going over basic information for the new guys. They have mock floor trading sessions which are really a joke. And a lot of the training is done by more senior clerks who have never even traded. There is some good training by Jim Bonebreak for options (I don't know if he even does the option classes anymore). But they don't really put a lot of guys in options anymore. I've been gone for a few years, but I think I may have been the last new trader to go into options. Most of the guys trade S and P's or bonds off floor. And they don't trade very big. They do have a decent payout and fair comissions. Does that help or do you want to know more?
 
solid firm, been around a long time, won't cheat you, won't spoil you. you'll learn your stuff.

They're getting into screen trading as well.
 
How is their interview process? Did you get quantitative questions? In training, do they teach you a specific strategy that you are expected to use later or are they more flexible? What would you say is the avg amount of money a trader makes there after 2 yrs?

Thanks for your help
 
I spoke with them about a year ago at the time they were not expanding their electronic trading group, I would try Transmarket, Gelber, Infinium or GHCO you will get great training and be able to trade bigger.
P.S. The floor is dead unless you want to trade Ags or Options on Futures so take that into consideration they seem to want to teach floor techniques off the floor which many floor traders who tried to do that can tell you it does not work as well. Especially in any index or fixed income contracts.
 
If you are starting out, with no exp., you're probably going to end up clerking for a while. Prepare to be frustrated arbing for months, and not knowing what's going on upstairs.
After that, I don't know what happens.
 
You must log in or register to reply here.
Back
Top