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castro042000

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Can anyone help me with this particular question: 'Are there any particular trading companies that I would have a good chance of getting into if I applied despite the fact that my academic record is very strong. However, I am able to make up for this shortful with plenty of enthusiasm, effort, interest in the financial markets and a willingness to learn.'

Thanks.
 
I would suggest a some:
Liquid Capital
FUTEX
Schneider Professional Trader Course
IG index
 
Your academic record is strong? Or not very strong? What's your academic background? Apply to all of them and more, although some of those companies are very different. MET would also be a good place to start.
 
Not very strong because I have 2:2 bachelors degree from a top 40 university. I think I applied to MET before but unfortunately didn't get an interview. I applied to Optiver and got invited to do the numerical test but failed that unfortunately due to a lack of preparation. I definitely apply to all of them and more just as you said so thanks for the advice. If you know of anymore companies that I should apply to then please let me know. Are FUTEX a good company? I've just applied to them now actually. Which companies do you think are the best for recruiting enthusiastic graduates?
 
castro042000 said:
Not very strong because I have 2:2 bachelors degree from a top 40 university. I think I applied to MET before but unfortunately didn't get an interview. I applied to Optiver and got invited to do the numerical test but failed that unfortunately due to a lack of preparation. I definitely apply to all of them and more just as you said so thanks for the advice. If you know of anymore companies that I should apply to then please let me know. Are FUTEX a good company? I've just applied to them now actually. Which companies do you think are the best for recruiting enthusiastic graduates?
Click to expand...

2:2 bachelor, try to hide it a bit in the CV. Also try highlight you A-levels if they are A's or if not, highlight only the A ones.
Futex is a good company, but the salary might be a problem. Basic is too low until you get into splits with them.
Enthusiastic graduates????? all are... the city is going into recession, try doing FSA, or CFA level 1.. For every job there are more than 100 applicants. Is better to have something extra. everyone has a bachelors now days with a 1st or a 2:1, even me.
Aim high, do the work, network and you will be rewarded.
Also why did you get a 2:2???? This is a very big disadvantage if you want to work in city.
If I was you I was going to start CFA immediately, to convince people that something went wrong in the university, if you want a job in IB. Or for a prop house just do a nice CV and a covering letter.
 
Thanks for the advice, it is very much appreciated. By the way, what are the main disadvantages of working for a prop house. What are the advantages?
 
Who cares about an academic record? Some of the top IB grad schemes perhaps but that aside take the fact you have 'a' degree as a positive thing.

Just network, network, network... try and get a job in the city doing anything, albeit a temp job doing something you are really not all that into... it will open a lot of doors!

Read and research the markets, start paper trading. There is so much info out there, even the stuff in the books... a lot of it is simple, but if followed it works! The reason it doesn't happen for most people is they don't follow the rules.

In the meantime ring up some of the prop companies and get mingling on the phone and via email. If you can display your enthusiasm to them you will get your opportunity!

Best of luck.
 
Thanks a lot for the positive comments. In response to the question as to whether or not I have any experience. The answer is no, but I am currently trading a number of different fantasy funds at the moment including the one being operated by Fidelity International. I have just recently been invited to take an online test with IMC. Does anyone know anything about them? Or The Sneider Trading Course? I've got an interview with them next week. So if you have any advice or info about them, I would love to hear it!
 
that’s good, I will give you some hints

Do some calculations without using a calculator: addition / subtraction (4 digit numbers) and multiplication.
Find some eye coordination tests, and practice
Express your interest / enthusiasm when they will ask you why do you want to be a trader or similar questions?
And relax, and you will do well.
 
interview

I'm a recent college grad in the Chicago area and I have an interview scheduled later this week with a prop firm. The firm told me there will be a logical reasoning test administered.

Does anyone have any prep advice? What should I expect? This will be my first interview of this kind (with a prop firm).... Thanks in advance for any help.
 
Thanks for the advice again. I'll let you know how the interview goes next Monday. If I am offered a place, will I have to pay for anything?
 
I do not totally understand the interview/screening by some of these prop firms. Surely to be a good prop trader you require one thing and one thing only, to be able to consistanly make money from the markets. I got grilled in an interview I had with all sorts, including being asked on the spot for square roots and multiples of random numbers, which I am useless at - I got them right but it took a while with a couple of them. My point is why do they care? Either you can make money for them or you can not, what does multiplication have to do with trading, all I know is I want my winners to be big numbers and my losers to be little ones, ha ha. TBH the interview put me off somewhat.
 
si1503 said:
I do not totally understand the interview/screening by some of these prop firms. Surely to be a good prop trader you require one thing and one thing only, to be able to consistanly make money from the markets. I got grilled in an interview I had with all sorts, including being asked on the spot for square roots and multiples of random numbers, which I am useless at - I got them right but it took a while with a couple of them. My point is why do they care? Either you can make money for them or you can not, what does multiplication have to do with trading, all I know is I want my winners to be big numbers and my losers to be little ones, ha ha. TBH the interview put me off somewhat.
Click to expand...

Let me try to explain why or give it as best as possible solution
Schneider’s will ask the to do calculations with decimals since, you probably not end up doing outrights.
You will trade spreads, fly's, condors, boxes and all sorts of strategies like double fly’s.
Eye hand coordination will help you not to do mistakes in the trading platform that you will trade and also see your reaction to time, speed and accuracy.
Timing the tests will show how candidates react under pressure.

And also these kinds of tests are competitions; I know the best not always win's but you have to give your best performance.
 
si1503 said:
Either you can make money for them or you can not, what does multiplication have to do with trading, all I know is I want my winners to be big numbers and my losers to be little ones, ha ha. TBH the interview put me off somewhat.
Click to expand...

The problem for them is that they have a lot of applicants, but not a lot of jobs, and need to distinguish between people. Everyone is going to come in saying how keen they are, and how much money they'll be able to make, so unless someone really stands out (having a track record proving your profitability would be one way), they need to come up with a way of rating candidates. This is where numerical skills, academics etc. come in - ideally, the only real way of finding out if someone will be profitable is to train them up and see what happens, but that's not a realistic option.

It's annoying if you aren't good at mental arithmetic, or have poor grades, but you have to see it from their perspective - how would you pick one person from a hundred applicants?
 
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