The Perfect Prop Firm

gmst · Jan 25, 2012

Quote from trom:

College -> Aptitude test/Interviews -> Job

LOL...Thats as obtuse as one gets

Maybe you can use a little bit more of keyboard when you have some time - probably after mkt hrs !

caementarius · Jan 25, 2012

Quote from gmst:

LOL...Thats as obtuse as one gets

Maybe you can use a little bit more of keyboard when you have some time - probably after mkt hrs !

Well, it may just be that simple.

Mike805 · Jan 25, 2012

Why do you guys care?

Its like any job interview. There's a job description, a resume, a interview. You either get the job or not.

These jobs are advertised in many many places.

caementarius · Jan 25, 2012

Quote from Mike805:

Why do you guys care?

Its like any job interview. There's a job description, a resume, a interview. You either get the job or not.

These jobs are advertised in many many places.

Well I always enjoy reading insights into how people get to where they are - trom's path looks to be fairly traditional. Some people have interesting stories to tell. Didn't mean to imply that I was digging for some extra special insight.

It relates to point #1 of my post yesterday: how the ideal prop firm identifies those who can use capital (grow their own, hire MIT grads or athletes, etc).

gmst · Jan 25, 2012

Quote from Mike805:

Why do you guys care?

Its like any job interview. There's a job description, a resume, a interview. You either get the job or not.

These jobs are advertised in many many places.

Actually, I do not know what kind of firm it is. For all I know, it is not an investment bank or a commercial bank, it is not a deposit firm like Bright or Echo, it is not a prop. trading technology focussed firm like Getco, Citadel etc.

So, what kind of firm is this ?

Mike805 · Jan 25, 2012

Quote from caementarius:

Well I always enjoy reading insights into how people get to where they are - trom's path looks to be fairly traditional. Some people have interesting stories to tell. Didn't mean to imply that I was digging for some extra special insight.

It relates to point #1 of my post yesterday: how the ideal prop firm identifies those who can use capital (grow their own, hire MIT grads or athletes, etc).

Fair enough.

I tend to sense some "mythical prop. trader" ideal in some of the posts here. There isn't much to it other than getting some decent background.

- Go to a decent school. Do well with a decent degree (Finance, engineering, CS).
- Maybe do an MBA/MS/PhD.
- Develop proper communication skills.
- Learn how to interview well.
- Get your resume reviewed and edited well.
- Start applying for jobs.

If you're likeable and show some promise, you'll get in.

This whole "athelete MIT grad" thing is bordering on the mythical, although there is an element of truth to it.

Mike805 · Jan 25, 2012

Quote from gmst:

Actually, I do not know what kind of firm it is. For all I know, it is not an investment bank or a commercial bank, it is not a deposit firm like Bright or Echo, it is not a prop. trading technology focussed firm like Getco, Citadel etc.

So, what kind of firm is this ?

Do you have access to LinkedIn? Browse the Quant Finance group and you'll see a long list of firms and job postings.

gmst · Jan 25, 2012

Quote from Mike805:

Fair enough.

I tend to sense some "mythical prop. trader" ideal in some of the posts here. There isn't much to it other than getting some decent background.

- Go to a decent school. Do well with a decent degree (Finance, engineering, CS).
- Maybe do an MBA/MS/PhD.
- Develop proper communication skills.
- Learn how to interview well.
- Get your resume reviewed and edited well.
- Start applying for jobs.

If you're likeable and show some promise, you'll get in.

This whole "athelete MIT grad" thing is bordering on the mythical, although there is an element of truth to it.

Agree with you to the most part. Some guys just have a little bit of interest/bias towards "athelete MIT grad" type guys - VicNiederhoffer is the example that comes to mind. No disrespect intended - I admire him btw.

gmst · Jan 25, 2012

Quote from Mike805:

Do you have access to LinkedIn? Browse the Quant Finance group and you'll see a long list of firms and job postings.

Thanks will take a look. But can you post names of couple if possible ?

Rationalize · Jan 25, 2012

Quote from trom:

Currently, spreading and some special situation stuff. I'll still enter some directional trades, but usually only if I have a clear edge in execution, such that I'm pretty much guaranteed "free" money or a scratch. But as far as going long XYZ @ 100.00 at the market because of an indicator or gut feeling - very rarely.
...
That said, I do know some guys that are successful directionally. However, they are usually looking at relatively illiquid instruments in which they've identified another market participant doing something unusual. They essentially are trading 1 vs 1 against someone else - and have a decade of trading experience behind them. I would say it would be extremely difficult for a new trader to be successful strictly trading directionally.

Keep it up trom

Nominated for most accurate post of 2012.

Yes, I know it's January.