How Do I get a Job Trading?

This is a discussion on How Do I get a Job Trading? within the New to Trade2Win forums, part of the Reception category; be aware that many of the prop shops receive 1000+ cv's per week....

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Old Jul 11, 2008, 10:57am   #17
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be aware that many of the prop shops receive 1000+ cv's per week.
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Old Jul 11, 2008, 11:27am   #18
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Prop house; An impressive CV gets u an invitation to an assessment (math test or math’s + logic + maybe some market knowledge) .......after that your CV is thrown in the bin !!
Your test scores get you an Interview with the head of training... general stuff ....if he likes you in terms of your attitude or you impress him in some way ....u get called back to interview again with him and a couple of traders (sometimes the directors or most senior traders) .......above all no (limited) salary until you are profitable, but then again if your not you would have already been asked to leave !!

BP, edf - will pay its trainees as you are classed as an employee and salary is around 30K they run their recruitment in a similar fashion to IB's (Great CV, Bad Ass work experience will go further here than in a prop shop )
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Old Jul 11, 2008, 11:57am   #19
 
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Just to add to what's been said- from recent experience applying to a number of them there are other trading firms that hire trainee traders with limited or no experience but still offer them good salaries (£30k+) and from there your performance bonus is what increases as you begin to become profitable. These places typically have a lot of emphasis on taking only a few trainees and giving them intensive training, rather than churning lots through on no salary and only keeping the good ones. Having said that, you are still likely to be on probation for 6 months, and if you haven shown your potential and started trading by then, you're not likely to, so they will drop you as you'd expect.

As gooseman says, they do receive upwards of 1000 CVs per month, but they do actually test quite a large number of people. I would imagine around 200/300 were attending the testing sessions in the few days either side of me.
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Old Jul 18, 2008, 5:05am   #20
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http://www.trade2win.com/boards/gene...trading-2.html

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Originally Posted by trader_dante View Post
1. First and foremost. As Grant so wonderfully said above: "The City may be racist, sexist, homophobic, anti-semitic, wheel-chairist, maybe even ageist but first and foremost, they are capitalist and if you can make them a fortune, all prejudices disappear, as if by magic. Don't be put off." That is great advice. If you are like me - useless at maths but confident in your ability and can demonstrate approximately 6 months consistency even if you have not made a huge deal of money then a prop firm IS going to back you. So if this sounds like you and you want it enough, start contacting them.

2. OK, you want a job as a trader but you have no experience. Then go and get some. You can teach yourself almost anything these days and the best way is to actively get involved. Open an account: whether it is futures, options or spreadbetting - start trading. It's not hard to open an account and these days takes little money either. It doesn't matter whether you are a total failure at least you are giving it a go and you are looking at how prices move. And within no time at all you are already starting to LEARN about the issues that traders face. Fundamental analysis, technical analysis, emotional analysis; greed and fear. Worst case scenario you lose a little money but you have some actual experience to impart and you look INTERESTED. Imagine you're the recruitment officer at a firm. You've got a candidate infront of you and you ask: "So, why do you want to be a trader?" and they reply: "Well, I'm very interested in the financial markets, I think...." Woah. Let's stop you there. You're so interested but you never even bothered to actually trade anything yourself?
t_d offered some really good stuff here for the newbies.

Show some interest and show some Track record.

Many of times people ask for systems, etc.. But no one can teach individual desire!!!


Even if small, you'll learn for yourself if this arena is right for you. It is more than just the money. You'll be surprised how many people have gone from investing as a hobby and it turns into their career. Start small and if you show those two things the money will be there. And if you cant find the MONEY, but you have proven to yourself you can trade, U go MAKE the Money!

U can Start Part-Time...Form a Corp, Trade your small amounts, Slowly work on building your corporate business credit, manage you debts, until the money is there big enough to walk away from the FT JOB!
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Last edited by luckyd1976; Jul 18, 2008 at 5:09am. Reason: spelling
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Old Jul 18, 2008, 10:40am   #21
 
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It takes perseverance to make it in this game and that perseverance is a direct result of how much you want it. But it's not just about wanting to make money it's about loving the game and wanting to win. Let's face it, most of us want to make money and the thought of it is enough of a motivator to get in early and stay late but most people want EASY money and think the market is going to supply it but it's not. That's where the love comes in. Because like any big earning career (Doctor, lawyer etc) you need to put a lot of work in and what else other than the love is going to keep you going, year after year while you try and fail and try and fail again? Losing money has a habit of making you lose faith after a time.

My personal route to a prop firm was as follows. I knew I wanted to trade for a living because ever since I had disovered the markets I was nothing short of obsessed with figuring them out. I started trading my own account with limited success but I was reading and reading - consuming everything I could and trying out different techniques from day trading to swing trading to position trading. Made a whole lot of mistakes and lost a whole lot of money but learnt a good deal about myself and more importantly what it takes to make it.

I started thinking about applying for roles as a futures trader in early 2006 but figured I was 28 years old with no previous professional trading experience, a disasterous period on my CV in which it took me 4 years to get an A and a B for my A-Levels and an incomplete degree. So I kept putting it off.

Some time in the summer of 2006 I decided that unless I tried I'd never know so I applied to a prop firm. Got invited to the assessment, sat infront of a whole lot of tests. When the time was up some of my papers were sporadically peppered with answers, some were almost blank. Suffice to say I failed the tests and got the rejection in my email later. Felt disheartened for about half an hour and then decided that no one was going to tell me I wasn't good enough. Went back to the drawing board, trading my account whilst at work in my free time and still learning. Slowly my trading progressed, my account grew and by the end of 2007 I contacted the same prop firm I was rejected from to ask them if they would reconsider based on my P&L. I made a big point of saying that if they took me it would be on my P&L and I was not sitting any more tests. They looked at my P&L and gave me a place. No tests and no real interview. It took me a year and a half from outright rejection to acceptance and now I'm here, trading for a living and doing well so far.

That was my route and I hope it shows you that you shouldn't give up if you want something enough.
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Last edited by trader_dante; Jul 18, 2008 at 11:05am.
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Thanks! The following members like this post: timsk , ian , BSD , GCC
Old Jul 19, 2008, 5:24am   #22
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Quote:
Originally Posted by trader_dante View Post
My personal route to a prop firm was as follows. I knew I wanted to trade for a living because ever since I had disovered the markets I was nothing short of obsessed with figuring them out. I started trading my own account with limited success but I was reading and reading - consuming everything I could and trying out different techniques from day trading to swing trading to position trading. Made a whole lot of mistakes and lost a whole lot of money but learnt a good deal about myself and more importantly what it takes to make it.

Some time in the summer of 2006 I decided that unless I tried I'd never know

Slowly my trading progressed, my account grew and by the end of 2007 I contacted the same prop firm I was rejected from to ask them if they would reconsider based on my P&L. I made a big point of saying that if they took me it would be on my P&L and I was not sitting any more tests. They looked at my P&L and gave me a place. No tests and no real interview. It took me a year and a half from outright rejection to acceptance and now I'm here, trading for a living and doing well so far.

That was my route and I hope it shows you that you shouldn't give up if you want something enough.
Thanks for sharing t_d.

Just like t_d, many of us FT traders have the same type of stories.

Started Part time trading while I was FT in the Navy stationed in Bahrain. I only started trading because I was sick of paying someone else to lose my money. Had some nice early successes and I was hooked from then on. I took some bumps along the road (DAMN NonFarmPayroll got me really good in FX one day!) But my trading styles were formed and diversified after those bumps. Unlike t_d I didnt want to go to work for the Props, but my P/L has allowed me to stay at home, keep @ my accustomed 10-14 clients, spend all my free time with my family, and do Something I truly enjoy!

So "How do I get a job Trading?" -Just go and trade, if the P/L is there the job will take care of itself.
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Old Jul 20, 2008, 8:36pm   #23
 
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Holoman, respectufully, i consider the first thing you have to learn is patience, i could be wrong but it seems to me i have at least double your age and believe me that was the first thing i WAS FORCED to learn when i finished college.
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Old Jul 20, 2008, 9:42pm   #24
 
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Hello,
Is it true that prop firms only employ trainee in their early twenties? If not, then how big is age a factor?
Thanks
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