lol, who cares? Gotta be easier trading with other people's money and getting paid for it than trading alone and losing so often!
Hope you get the job!
(although I have just done a quick Google search and there isn't much useful info about the company.... ). Found the job advert....might apply myself although working in London just doesn't really appeal.....
Don't believe anything regarding remuneration in the advert. It is just a way to get people into their business. You will struggle for at least the first 6 months-1year, if you are still there after that you will do OK.
I think we should have a section on T2W that both advertises and requests trading jobs of this nature. Since the same companies keep cropping up again and again we could also build up a information base of how each of them work out.
I applied last week and have not heard anything from them yet- but a friend of mine applied a few weeks back and he has an interview.
I have finished studying economics degree and just completed a MSc in Finance and Investment. But the problem is i dont have and work experience or internships to fall back on so maybe my chances are slim- how about you-what is your background and when did you apply
To be honest I have very little info about the company and the job- as you know the advert gave very little detail. I think they are looking to train a few traders and i thought i might just give it a try- salary wise: i assume one gets paid after completion of training but that just my assumption.
The way it works is this.
They take you in, teach you a methodology and then let you loose. If you are any good then you will start to make money after between 6-12 months for yourself. Generally salaries are payable but they are not much. Ultimately if you are good you will be making your money via profitshare, if you are not good you will leave.
Background is generally unimportant, the style of trading at these places does not take any hi-brow intellect and it is hard to know who will be good and who not. They will judge you much more on the type of person you are than how well you did in your degree/a-levels or indeed what subject you studied.
I think it depends very much on the type of person you are. If you want to learn a way to make a good living from trading then I think this is hard to beat. I spent many years prop trading in commercials and trading private client money in a fund before doing this and I prefer this to any other job I have had. Some people find this isn't for them however as they just don't get it and cannot maintain the discipline.
Do not think it is a particularly intellectual exercise, it is not, but it is long hours and hard work.
If you fancy yourself as more of an analyst who want to be clever about planning and executing longer term strategy trades then the large commercials may be a better bet or analyst jobs at IB's/funds. If you want to see the business and trade the flow then trading job at IB are better.
One thing you need to consider carefully is if you are happy to survive on little for the next 6 months while you build your skills. There is a lot of difference in the method taught by different companies some far more aggressive than others. Some will expect to retain 1 in 10 some 4 in 5. It is a very real and honest job, if you cannot do it there is no hiding you will be kicked out quickly, no second chances. The chances of success depend greatly on what you are taught and the attitude of the management.
Be careful, don't necessarily jump at the first opportunity.