Looking for a career opportunity!

RealizedGains

Newbie
4 0
Hello, all!

Sorry to flood this with searching for a job, however, I guess that’s what this area of the forum is for.

I recently graduated and am now looking for a job either in trading or a related analyst role. While in school I held demo accounts for a bit (had no capital, but did put some money in a Robinhood account that I made for passive income opportunities and doubled it through a 1/2 and 1/2 split between US equity and Crypto).

In the demos I had a commodities (futures) and an equity account. The equity account was for around a year where I mainly held blue chips with no debt (or a very low debt ratio) hedged to financial institutions that made money off IR volatility and debt servicings- mainly places like PNC and BOA over the past year. The return was close to double the SP over the same time period.

The commodities/future I held was mainly trading Crude Oil and the Emini(SP). For Oil, I created my own mathematical model for resistance/support (TA) lines on swing trades where I’d buy in at the break. The model had a a success rate of 86.67% with Crude Oil when benchmarked to WTI movement. I don’t hold much weight in my Emini performance since all the trade came in late 2018 when the markets gained a lot of ground. That model backed to Emini(SP) movements (backtested only) had ~78% success rate. Traded this demo for 6 months and approximately ~40 total trade for a ROI just above 200%. I don’t like trading demos since that return is unlikely given spreads and so on, however, demos are all I can do at the moment.
———————
I’ve been offered a bunch of roles from the “prop shops” that require a contribution, however, that business model scares me. I tried a week out at T3 and Chimera this summer and that was a bad experience. I realize the market for a dream shop that pays a salary and no capital contribution existed 10 years ago, but I love trading.

Sadly, from some of the bigger private floors that I’ve been interviewed at, I’ve gotten the same response “we like what you bring, but come back when you have some experience and a partner will likely back you”.

Is there any advice on a specific role or firm to gain some experience in trading operations or even equity analysis to build a better foundation of the basics? I am pretty much open to anything. I feel like I’m running out of options since I have tons and tons of resumes out there and the only takers have been those “prop shops” and a couple of other firms, but again, not being picky, however, their opportunities weren’t what I was looking for.

All responses are welcome! I apprentice the help.

Best,
RealizedGains
 
Last edited:

Parky

Active member
243 29
You are stuck in the Chicken and Egg scenario, the problem is in the early days of electronic trading you had a load of Cowboy trading "Arcades" all of which didn't last long (Including one that wanted to be registered as a charity as it claimed not to make money!). The Regulator stepped in and now you have a few companies offering "Trainee Trader programs" that have neatly sidestepped the rules by not asking for contributions towards trading but instead charge you for the "Training". I use the word loosely because although happy to take the money you have no guaranteed trading position at the end of it, and once you been through their scheme you quickly find out that nobody else will touch you. The few "Professional" trading rooms have a requirement under regulatory rules to separate the Professional from the Retail, the yard stick for this is history, if you have earned a living from your trading either by virtue of employment or as a professional independent trader and can support this via Statements or CV's then they will take you on as a trader. But they will expect you to provide an element or all of your risk capital, either on a commission only or percentage split of P&L (if you are using house funds to leverage) but not on a salary. The reason for this? If you are a professional and need a salary you are not that good.
 
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RealizedGains

Newbie
4 0
You are stuck in the Chicken and Egg scenario, the problem is in the early days of electronic trading you had a load of Cowboy trading "Arcades" all of which didn't last long (Including one that wanted to be registered as a charity as it claimed not to make money!). The Regulator stepped in and now you have a few companies offering "Trainee Trader programs" that have neatly sidestepped the rules by not asking for contributions towards trading but instead charge you for the "Training". I use the word loosely because although happy to take the money you have no guaranteed trading position at the end of it, and once you been through their scheme you quickly find out that nobody else will touch you. The few "Professional" trading rooms have a requirement under regulatory rules to separate the Professional from the Retail, the yard stick for this is history, if you have earned a living from your trading either by virtue of employment or as a professional independent trader and can support this via Statements or CV's then they will take you on as a trader. But they will expect you to provide an element or all of your risk capital, either on a commission only or percentage split of P&L (if you are using house funds to leverage) but not on a salary. The reason for this? If you are a professional and need a salary you are not that good.
Thank you for the response, Parky. After sound research, I came to the conclusion that I don't want that 'prop' shop set-up... mainly for the reasons you touched on. At the moment, I am just trading Micro E-mini live. Although it has expensive margins requirements, It has been smooth sailing growing a $1,000 account. If you try to compound 1-3% of capital each day, you're mainly looking at 40 point movements which isn't out of this world- key is... you have to be right. It's also scale-able. Hopefully at the end of the year (not putting much weight into compounding) I will have grown the account North of $1,750.

Best,

RealizedGains
 

Cigar

Well-known member
292 13
You could have a look at something like TopStepTrader. You get a sim account and have to reach a profit level within 30 days, but have to stay with their risk envelope. One cent out of the envelope and its over...
If successful you can have a 50,100 or 150k funded account... with similar risk envelope..
Costs $150 a pop. If you fail you can try again for another $150.

Theres other companies offering similar.

There may be a thread on t2w concerning them. I've never tried it but a lot of people do.
 

thiagolgd

Newbie
4 0
Hello, all!

Sorry to flood this with searching for a job, however, I guess that’s what this area of the forum is for.

I recently graduated and am now looking for a job either in trading or a related analyst role. While in school I held demo accounts for a bit (had no capital, but did put some money in a Robinhood account that I made for passive income opportunities and doubled it through a 1/2 and 1/2 split between US equity and Crypto).

In the demos I had a commodities (futures) and an equity account. The equity account was for around a year where I mainly held blue chips with no debt (or a very low debt ratio) hedged to financial institutions that made money off IR volatility and debt servicings- mainly places like PNC and BOA over the past year. The return was close to double the SP over the same time period.

The commodities/future I held was mainly trading Crude Oil and the Emini(SP). For Oil, I created my own mathematical model for resistance/support (TA) lines on swing trades where I’d buy in at the break. The model had a a success rate of 86.67% with Crude Oil when benchmarked to WTI movement. I don’t hold much weight in my Emini performance since all the trade came in late 2018 when the markets gained a lot of ground. That model backed to Emini(SP) movements (backtested only) had ~78% success rate. Traded this demo for 6 months and approximately ~40 total trade for a ROI just above 200%. I don’t like trading demos since that return is unlikely given spreads and so on, however, demos are all I can do at the moment.
———————
I’ve been offered a bunch of roles from the “prop shops” that require a contribution, however, that business model scares me. I tried a week out at T3 and Chimera this summer and that was a bad experience. I realize the market for a dream shop that pays a salary and no capital contribution existed 10 years ago, but I love trading.

Sadly, from some of the bigger private floors that I’ve been interviewed at, I’ve gotten the same response “we like what you bring, but come back when you have some experience and a partner will likely back you”.

Is there any advice on a specific role or firm to gain some experience in trading operations or even equity analysis to build a better foundation of the basics? I am pretty much open to anything. I feel like I’m running out of options since I have tons and tons of resumes out there and the only takers have been those “prop shops” and a couple of other firms, but again, not being picky, however, their opportunities weren’t what I was looking for.

All responses are welcome! I apprentice the help.

Best,
RealizedGains

Hi RealizedGains,

I am looking for new traders to work for my firm. Please contact me so I can give you more information about it.
Thanks.
 

Parky

Active member
243 29
As you have said you are in the classic "chicken and egg" Salaried trading rolls are not out there at the moment, the Big banks and institutions are shedding trading and broking positions, and the march of automated trading is relentlessly removing the appetite for employing traders and reducing market liquidity, which in turn makes traditional trading more difficult and less profitable. The only people still willing to take on are the Prop shops and they work on a "eat what you kill" model rather than salaried. As you have indicated they will want you to put up an element of risk capital and this is on the simple basis that if you are not prepared to back yourself why should they back you? Sitting down risk free and be given money to trade is no longer available and even if you "pay" for one of the "training courses" being offered does not guarantee you a position. My suggestion is to find another salaried job and trade via a retail platform such as Interactive to build a track record and then try again in a year or so.
 

TFA

Member
65 2
RealizedGains,
perhaps you can work in a brokerage firm on the side of brokers?
 

Bubba27

Active member
116 5
As you have said you are in the classic "chicken and egg" Salaried trading rolls are not out there at the moment, the Big banks and institutions are shedding trading and broking positions, and the march of automated trading is relentlessly removing the appetite for employing traders and reducing market liquidity, which in turn makes traditional trading more difficult and less profitable.
If robot traders are making more money, is it even worth it to learn trading like everybody here are doing? I am still learning the basics but if you know of a robot that will make me money I'd like to hear about it.
 
Last edited:

Parky

Active member
243 29
Yes and no, you cannot be as quick as an Algo and this is why scalpers have gone by the wayside.
Traders that have continued and are still making money are those who are either more directional and are happy to take the associated risk, or are trading complicated strategies such as Equity/Derivative hedges. Some have moved into the less liquid contracts where the Algos either cannot operate or it is not cost effective for them to do so. Examples of these are Options markets or the back months of contracts of liquid markets or inter market/contract spreads.
Another successful strategy of late is news event trading although once again the Algos are operating increasingly in this space.
 

progix

Well-known member
254 3
If robot traders are making more money, is it even worth it to learn trading like everybody here are doing? I am still learning the basics but if you know of a robot that will make me money I'd like to hear about it.
Robots or EAs are coded to follow technical analysis most of which requires monitoring during the high volatile markets.
 

NVP

Legendary member
37,283 1,936
hey there ...ive been trading for over 40 years and the rules have'nt changed

if you are CONSISTENTLY successful and profitable in your trading and can prove it people will be very interested in you...this is not a charity business and salaried positions are a waste of time ...if you are good then the wealth accumulated from your capital / profits and any shared profits (from managing others funds) will be much more than salaries ....

if I were running a prop shop i would fund traders who can trade .....full stop ....they get a small % from the funds under them and thats it ......

so go away and make some serious RETURNS on your account - not even absolute returns as everyone accepts many traders are talented but underfunded ......just look a % returns ....now go dazzle them ....or go find something else ....

its a hard hard business and so many other industries are much easier !

N
 
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