Getting to the interview stage

[trader_dante]

Does anyone know of any trading firms where you can actually get an interview before the maths test "screening"?

I've got what I think is a phenomenal trading record and I would like to put my account history infront of someone and see if they will give me a chance but I keep getting screwed by the 11+.

Tom

 

[Directional]

dont go through the grad application route if you've got a track record. Phone up any arcade, ask for the client manager, tell them you've got a track record and are looking for a backed deal. You'd need to bring your statements in and show them what you've done, and if they like what they see then the discussion would be on profit splits. Try the bigger arcades like Marex, Schneider etc.

Its the grads who are looking to get trained in the in-house methodology who have to jump through the hoops. If you can trade already you dont need to do any of that test stuff

 

[trader_dante]

Thank you Arbitrageur.

The only other two questions that I have then are:

1. When they look at your statements are they likely to pay as much attention to HOW you made the money as the % INCREASE you made?

2. Will they consider money that is made via SB'ing and will they help train me to make the transition to the "real" market?

 

[Directional]

i'm not sure, perhaps someone else can answer with more direct experience - though I think they would mostly want to see consistency before they let you loose with a wedge of their cash. they would be considering the bottom line risk/reward of letting you trade with their money.

It might be helpful if you worked out some statistics to show them based on your statements, such as total number of trades, no of winners/losers, win %, profit factor etc to make it easier for them to see what you can make for their risk.

 

[charliechan]

i have heard of people doing this, but before long they are encouraged to start trading spreads. im not knocking that style of trading as we know some who make an awful lot doing this. its just that how likely are you going to continue getting those returns if you have to learn a different method & strategy again?

i think a good place wont give a damn as long as the risk is fairly low and they are making some money out of you.

but what is the advantage of a prop firm/arcade if you are already doing well? the advantages to a scalper are clear, but for an outright day trader grabbing a few swings a day, i personally dont get it (i must be missing something). most quality futures brokers will happily give you more leverage and lower commissions as soon as you point out better deals elsewhere.

good luck.

 

[Parky]

The problem is that regardless of qualifications, entrances tests, interviews etc there are still no guarantees in terms of picking a successful trader. Most of the ex-floor traders who have made a successful transition to the screens would never have been allowed to trade under some of the terms of entry being laid down by Pro trading houses.
Even those with stingent interview and entrance tests do not have any noticeable increased success rates than those that continue to select based soley on face to face meetings and gut instincts.
Traders requiring backing do have to provide some level of comfort in terms of proving previous trading experiences but even then it is the thinking and trading style that is more important than figures on a piece of paper.
Some houses do not give leverage to enable a trader to show true potential, others will dictate to a trader the markets they will trade and in some circumstances even the style of trading all of which can give a false impression in terms of P&L.
In short if you have the right mentality, dicipline and a good sound trading style any real knowledgeable trading room should be able to see the potential in you as a trader although the proof will always be how you take the chance when you are given it.