What is a trader career like?

J

jamesg711

I have read many of the posts but still have many unanswered questions. I am currently working as a stock broker but I don't really like sales and I want to get into something more technical. From what I know, I think a career as a trader would be a good match for my interests and personality. Any helpful comments to these questions would be appreciated.

1. What is the career like?
2. What makes for a successful trading career? Being a broker, if you put in lots of hours and follow the recipe you can be successful. It doesn't seem like that in a trading career. Is there a formula for success? Is there LUCK involved to being successful? Are there actually people that are long term successful in this career? How likely is that for someone entering the field?
3. How many hours do you dedicate per week?
4. What is the career path?
5. Who hires entry level traders? (preferably a propritary trading situation)
6. What are these companies looking for in entry level candidates?
7.Are there any opportunities in the san jose/san francisco area? Am I better off moving?

Thanks in advance for your help!
 
You may get a million responses, but I will suggest that you go by our office (not spamming here), and speak to Dale Pitt (in S.F.). He has been a trader/Specialist for his entire life, and will be glad to give you the "good, bad, and the ugly.' 415.732.9515
 
<i>Who hires entry level traders?</i>

Being a broker, you probably already have a 7 and 63. That puts you a step ahead of true "entry level." Most (?) prop firms will also require the 55.
 
Don Bright
Bright Trading

Registered: Oct 2001
Posts: 1165


04-16-02 01:50 PM

You may get a million responses, but I will suggest that you go by our office (not spamming here), and speak to Dale Pitt (in S.F.). He has been a trader/Specialist for his entire life, and will be glad to give you the "good, bad, and the ugly.' 415.732.9515



I was just wondering...would I have been allowed to post a message like this soliciting someone to my branch office???
Correct me if I'm wrong, but isn't this the reason why Princess, um sorry, I mean Hitman got booted? (Not that it was such a bad thing).
An honest response would be greatly appreciated.
 
I am a proprietary trader. I enjoy the freedom that it provides.
When looking at firms be sure to go to the one with high pay outs and low commissions. Do not go to a firm that requires you to sign a contract that binds you to the firm.....

Good luck
 
<i>would I have been allowed to post a message like this soliciting someone to my branch office??? </i>

Only if you are paying Baron. That is the difference.
 
A direct question about SF vicinity could have answered by others with offices there...(VB, etc.). I would hope that we are not that sensitive. Regarding Hitman: I have sent him a note of support for his new ventures on other boards, and actually advised him against causing a war with Baron so that all could keep the "good side" of his posts. A casual reference to a satellite office would not have had him banished ...and for the record, I have never asked for him to be censored in any way...I am a big boy, and am more than capable of my own responses.

Thug: Your comments are always firm, but not in bad taste (from what I have seen), and you get your points across.

And for what it's worth, 90% of inquiries to me from ET members come via PM or email, not on the boards.
 
Thank you for your reply. The issue has absolutely nothing to do with Hitman, I just used him as an example. I was really just curious to see if I would be removed for posting the same sort of response.
 
Originally posted by jamesg711

2. Is there a formula for success? Is there LUCK involved to being successful? Are there actually people that are long term successful in this career?
More...


Go to your local library and look up the book Market Wizards by Jack Schwager. (or click on the book link above and buy it) He has written a few different books. Those stories in the book are interviews of successful traders. That book was my inspiration to get into trading. I'd read that book above all.

Robert Tharp
 
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