CityTrader
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Bullish, if you want to trade equities, try First New York ( www.fnysllc.com ?) or van der moolen, I believe Kyte also has some sort of "school of excelllence" training programme.
As to what it takes to make a trader? no one really knows.. but take a look around most City trading floors- as a rule the "cash" traders all tend to be non graduates, sharp ( rather than bright) , outgoing, confident. Then mix in a dash of risk taker ( gambler?) , experience, - then you may have a trader!
As to what it takes to make a trader? no one really knows.. but take a look around most City trading floors- as a rule the "cash" traders all tend to be non graduates, sharp ( rather than bright) , outgoing, confident. Then mix in a dash of risk taker ( gambler?) , experience, - then you may have a trader!
CityTrader
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I presume by the original post, a day trading firm, is one at which you pay for a seat, which covers the cost of the infrastructure ( Info providers , etc,) then pay a per trade charge to cover comm and settlement, BUT use your own money for capital, as opossed to a proprietary house, at which you use your their capital but get a 30-50% payout?
interesting ad. in the Evening Standard.
Recruiting for Futures Traders... got a link if any of you are interested..
www.futex.co.uk
Recruiting for Futures Traders... got a link if any of you are interested..
www.futex.co.uk
The_Hammer
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A new trading room has opened up in North London...named MET Traders.
They are a a division of the Kyte Group, if you want to contact them???
They are a a division of the Kyte Group, if you want to contact them???
Futex
I've just received a reply from Futex to my email question "Who are you?" Here it is
Dear Applicant,
Thank you for replying to our advert inviting applicants for places on the Futex Limited training programme. Due to the huge response we received, we have had to be very selective in our choices and unfortunately you have not been successful.
Do not let this put you off pursuing a career in Financial Futures. If this is your goal then keep trying. Futex wish you all the best with your career.
Not bad eh? Shortest CV I've ever sent out :cheesy:
I've just received a reply from Futex to my email question "Who are you?" Here it is
Dear Applicant,
Thank you for replying to our advert inviting applicants for places on the Futex Limited training programme. Due to the huge response we received, we have had to be very selective in our choices and unfortunately you have not been successful.
Do not let this put you off pursuing a career in Financial Futures. If this is your goal then keep trying. Futex wish you all the best with your career.
Not bad eh? Shortest CV I've ever sent out :cheesy:
Would really appreciate the help of some from many experienced traders on this board.
I'm a fairly recent graduate of mathematics and economics and have just been made an offer by prop trading firm for a trainee trader position in either options or futures. Now my concern is the initial starting salary during the 4.5 month trading period which is about £3000 within that period.
Now my question is what salary could I expect to be making as a reasonable successful trader within the first year as an annual package?
Would I be best taking this position for a prop firm instead of trying to get into an investment banks programme. I have the inclination that starting your career in a prop firm can offer better learning curves and higher salary returns..
Any advice would be greatly received as I have been given a one week deadline to give them a decision.
Many thanks.
I'm a fairly recent graduate of mathematics and economics and have just been made an offer by prop trading firm for a trainee trader position in either options or futures. Now my concern is the initial starting salary during the 4.5 month trading period which is about £3000 within that period.
Now my question is what salary could I expect to be making as a reasonable successful trader within the first year as an annual package?
Would I be best taking this position for a prop firm instead of trying to get into an investment banks programme. I have the inclination that starting your career in a prop firm can offer better learning curves and higher salary returns..
Any advice would be greatly received as I have been given a one week deadline to give them a decision.
Many thanks.
Star,
I think you're already thinking this but....
A prop. firm will (probably) offer a faster track to trading, but how much you will make is impossible to say.
A Bank will likely put you on a programme where u spend time in a number of departments learning the business (operations, back-office etc). It's likely you won't see any trading action with a bank for some time...
Prop firm I would say is the riskier choice - they are not always perceived as quality employers so future career prospects may not be enhanced greatly. That said, if you are determined and you want to trade you'll get there quicker.
Banks - grad' schemes are quiet this year due to the tough conditions. Banks are prob' more secure and stable, there will be a structure and a lot of back up. It also looks good on your CV if you have one of the decent bank names on there.
A prop firm will teach you one thing - how to trade. A bank may actually give you a grounding for a career in many areas.
Good luck
I think you're already thinking this but....
A prop. firm will (probably) offer a faster track to trading, but how much you will make is impossible to say.
A Bank will likely put you on a programme where u spend time in a number of departments learning the business (operations, back-office etc). It's likely you won't see any trading action with a bank for some time...
Prop firm I would say is the riskier choice - they are not always perceived as quality employers so future career prospects may not be enhanced greatly. That said, if you are determined and you want to trade you'll get there quicker.
Banks - grad' schemes are quiet this year due to the tough conditions. Banks are prob' more secure and stable, there will be a structure and a lot of back up. It also looks good on your CV if you have one of the decent bank names on there.
A prop firm will teach you one thing - how to trade. A bank may actually give you a grounding for a career in many areas.
Good luck
CityTrader
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Try to ensure it's one of the more reputable prop firms- some are little more than 2 men and a pc- trading their own money - and advertising in FT appointmens for what will become a general dogsbodys job. If it doesn't work out, you'll be straight out of the door.
Choose wisely.
Choose wisely.
Thanks for the quick replies. That was a concern having a top investment bank on my CV, however I know the freedom aspect and the opportunity to start out trading within the front office for a bulge bracket can be difficult. My thought was that as many ex-bankers make the move later to a prop firm, then it could be a solid move in terms of training and direct experience provided the firm offered the desired training and was established.
Now I would really appreciate your opinions on Capital trading, liquid capital and FUTEX. Is the experience worth the initial low salary for a potential much bigger return provided the programme goes well - considering this would mean relocating?
Many thanks.
Now I would really appreciate your opinions on Capital trading, liquid capital and FUTEX. Is the experience worth the initial low salary for a potential much bigger return provided the programme goes well - considering this would mean relocating?
Many thanks.
CityTrader
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Personally, I have never heard of any of the 3 of them. But then I've only been in The City for 20+ years. There are a few " Capital" institutional clients- Alliance Capital, Capital Research. But maybe those 3 firms you mentioned are small, Hedge Funds? there are literally hundreds of Hedge funds in UK ranging from Meditor & Marshall Wace - down to Ashcastle & Trafalgar.
If you have a top degree - go for a top investment bank's graduate scheme- learn the business, apply for a position on one of their trading desk- and learn the business.
If you have a top degree - go for a top investment bank's graduate scheme- learn the business, apply for a position on one of their trading desk- and learn the business.
london capital used to be Curvalue - they have around 40 traders in London - their rep is not exactly 'blue-chip' but hey, if you make money. Liquid Cap. are mainly an options market making outfit, big and getting bigger. Futex i only noticed 'cos of their add in the evening standard and don't know anything about them.
all 3 are 'prop' firms. LC is controlled by 1 guy, liquid by 2/3 yanks and futex - who knows.
all 3 are 'prop' firms. LC is controlled by 1 guy, liquid by 2/3 yanks and futex - who knows.
Thanks for the background details. There's quite a lot of variation between the firms training programmes which will also be a strong deciding factor..
As part of one of my other interviews I'll be asked to carry out some trading techniques on their trading simulators. Now as I've had limited experience, it would be really helpful if anyone could recommend a good simulator to get to grips with before the interview - I'm unsure if it will be dealing with futures or options?
Cheers.
As part of one of my other interviews I'll be asked to carry out some trading techniques on their trading simulators. Now as I've had limited experience, it would be really helpful if anyone could recommend a good simulator to get to grips with before the interview - I'm unsure if it will be dealing with futures or options?
Cheers.