Starting career in a prop trading firm

BruceLee1989

Newbie
2 0
Hi guys, I'm a 23 yo Italian student and poker player who's gonna finish his MSc in finance in September or in December with almost 0 experience in trading. With this purpose I'd like to start my career in a prop trading firm (I prefer to stay in Europe but if it's necessary I can even move outside Europe) but to avoid scam I wanna ask you some advices:
- which are the best firms at the moment and why? (Conditions, salary and so on)
- do you think it's better to start in an investment bank or in a prop trading firm?
- do you have any general advice for me?

Furthermore I wanna avoid those places in which I have to pay for a training because I think it's useless.
 

timsk

Legendary member
7,348 2,141
Hi Bruce,
Welcome to T2W.

As it happens, you're the second person in the last few days who's joined the site with the same enquiry. Forgive me if I don't repeat what I wrote to the other member; just take a look at that thread and check out the links and other replies: Which Market/Job Roles should I choose

With regard to your specific questions:
1. which are the best firms at the moment and why? (Conditions, salary and so on)
2. do you think it's better to start in an investment bank or in a prop trading firm?
3. do you have any general advice for me?


1. I can't help with that I'm afraid, but check out the threads in this forum (Trading Firms) - as it gets discussed a fair bit.
2. I suspect all anyone will be able to do is to offer you their personal experiences - which will be good and bad at both! Which one would be better for you will depend upon your personal circumstances and goals etc. I suspect that, all things being equal, a 'one size fits all' answer might be to go down the IB option if you possibly can. I'm not certain of my ground here, but my guess is that an ex IB candidate will find it marginally easier to get into a prop' shop than the other way around.
3. If you're intent on going down the prop' route - open a demo account and get as much trading experience under your belt as possible. If you do well, then open a live account trading the smallest size possible. If you do well at that and can produce broker statements showing consistent profitability - then many more doors will open for you.
Tim.
 

BruceLee1989

Newbie
2 0
Hi Bruce,
Welcome to T2W.

As it happens, you're the second person in the last few days who's joined the site with the same enquiry. Forgive me if I don't repeat what I wrote to the other member; just take a look at that thread and check out the links and other replies: Which Market/Job Roles should I choose

With regard to your specific questions:
1. which are the best firms at the moment and why? (Conditions, salary and so on)
2. do you think it's better to start in an investment bank or in a prop trading firm?
3. do you have any general advice for me?


1. I can't help with that I'm afraid, but check out the threads in this forum (Trading Firms) - as it gets discussed a fair bit.
2. I suspect all anyone will be able to do is to offer you their personal experiences - which will be good and bad at both! Which one would be better for you will depend upon your personal circumstances and goals etc. I suspect that, all things being equal, a 'one size fits all' answer might be to go down the IB option if you possibly can. I'm not certain of my ground here, but my guess is that an ex IB candidate will find it marginally easier to get into a prop' shop than the other way around.
3. If you're intent on going down the prop' route - open a demo account and get as much trading experience under your belt as possible. If you do well, then open a live account trading the smallest size possible. If you do well at that and can produce broker statements showing consistent profitability - then many more doors will open for you.
Tim.

Ok, thank you a lot for the help, I'm gonna check the other 3ds.
 
 
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