Hey thanks for taking the time to write this.
As for contract and other details that you are seeking, i'd be happy to share but I haven't been down that path yet. I am waiting to discuss these things over the phone with the head trader in the next day or two during the scheduled call.
And no i am not brand new to trading and i am not under the assumption that being a being a bazillionaire coke guzzling trader is a human right, and someone must mentor and do some serious hand-holding.
I just simply believe that if one wants to succeed in something, especially in trading which many have failed at and continue to do so for many reasons, one has to put in the work and also to increase the chances of success one has to interact and learn from people who are already successful at this. In the trading world, this is something very hard to find online as many people claim to be successful but in reality they are just full of shit, scammers and make money from educations courses. So with this in mind, i thought to myself, instead of searching for online community who provide no actual proof of successful trading, let me actually look for prop trading firms, legit ones who are actually backed and regulated by some governing bodies in this field. This is when upon T3. Did a bit of research then decided to send an email seeking advice and if there are any opportunities such as intern or whatever it may be to allow me to actually shadow real profitable traders who do this for a living and learn as much as i can and if allowed, to slowly start implementing these ideas. From there i received an answer from the senior trader and scheduled a call in the upcoming days.
Youre welcome Frank, and I think from what youve told me so far about yourself and specifically this idea, I think it sounds great in theory. But I would like to have an exercise from a devils advocate perspective, to make sure we are still connected with reality.
I have and somewhat am flirting with the idea of going prop myself, so I have done a little bit of homework. So from my understanding,(I could be very wrong so please do your own homework), there are very few "prop shops" left, with the passage of the Volcker Rule in 2009 (again from my understanding), the big household name banks are no longer allowed to run daytrading operations, really I dont think it matters as much to me personally as most would probably only hire math-nerds with degrees from MIT in 2020, and most of the MIT math-nerds would probably be willing to **** a **** just to get an internship at a GS or JPM or DeutscheBank. From my homework Ive discovered many of the firms that are still active in daytrading operations (ie JaneStreet, etc) are also looking for MIT math-nerds or "quants" as they like to call it. With that said ...
So lets imagine,you are the "head trader" at a branch location of a trading-firm. (also, we must acknowledge that for what ever reason, although you have the title of "head trader" your superiors also feel it necessary for you to answer phone calls from random anyones asking questions, this could be possible I guess? as maybe you are the best person to vet these phone calls? it just seems strange to me that your superiors would want you to waste time on this task when you could be, trading???.
Ok so now you are officially the "head trader" at such & such trading-house office located in somewhere. You have roughly 17 traders at your firm, only half have been there over a year. Out of these 17 traders, 10 are losers who have only been there less than a year and cry everyday about everything and are slowly wiping away their college fund to pursue "trading". They constantly annoy and bother the other 7 traders with their negative energy and constant entitlement. Of these 7 traders that arent complete losers, you only have 3 of which that have been in the game a while, and are what most would consider very successful. These traders dont really NEED your firm, they could literally go retail and do just fine, they could also be working remotely with your firm and do just fine. Are you going to ask these traders to "mentor" or "guide" the fresh new guy off the street with $50 bucks in his pocket and dream? And than again when the new guy with $50 bucks and dream comes in next week? And than again when the new guy with $50 bucks comes in and his dream?
So my question is basically, why should anyone give you the time of day exactly? A prop firm is a business establishment, they are established to make profits, it is not a jobs program or a free education. I believe first you should do the math and see if being a professional and having to pay professional fees(data, software,...) with commissions first of all, makes sense for you.
If whatever firm you are vetting reopens after Covid, go and check out the trading floor, try and meet the traders, BE POLITE, FRIENDLY, KISS AS MUCH *** AS POSSIBLE, because aint nobody gotta give you the time of day. You might get lucky AF and meet some great traders that like you and offer their advice, DONT EXPECT ANYTHING. Try and also avoid the losers, anywhere you go on this planet there will be losers, as youve mentioned in your post, if you want to be successful you need to surround yourself with positive people but also avoid the negative miserable ****s.
Ive briefly read the comments, and from what I am understanding you are looking at a trading firm and not a trading education, so I will not comment on the trading education aspect of other posts.
Best of Luck
