Trading Internship - Good or Bad?

[Victor90]

Hi,
I have been intrested in trading for a year and read some books and done some small scale trading. I havent had time to really trade at 100% and I saw this programe which cost $5000 (consider that any decent 1 day seminar cost at least $500). That is alot of money to pay for a job, however considering that I probely dont have the background for appliying for a paid work i think this might be a good investment. It is 3 months with 1 month of learning and 2 month of trading. They seem to be seriuse. To me it would be worth $5000 if i acctually get to learn something. So i was wondering what you guys think of this?`


3months training course

 

[Victor90]

Well, £5000 is still in my range. And i guess the reson you wouldnt pay it is becuse you already is succsesfull trader. Haha =P

 

[96pills]

" Graduating from our scheme will increase hugely your chance of being offered a job on the trading floor of a major bank or other financial institution. You will have genuine proprietary trading experience. You will 'talk the talk and walk the walk'"-----

I thought that banks do not like taking on prop traders?....

 

[Magos]

There are so many trading companies in UK / US... and you still want to pay to trade/ learn.
You should get paid to trade. Use your money for something better.
Updated your CV and apply for an internship in a company that will pay to train u and also pay for your exams.

 

[PualoP]

http://www.trade2win.com/boards/trading-firm/16313-fct-first-continental.html

 

[Victor90]

Thanks for all of your answers

 

[Magos]

Victor90
Try City Jobs UK - Banking, Accounting & Finance Jobs & Recruitment and efinancialcareers.co.uk

To find yourself a job

 

[Victor90]

Thanks again for all answeres. One more question, i might get a job at cmcmarkets(a big cfd and forex broker) but that would be in sales or marketing. Would that increase my chances to get a future trading job in another firm?

 

[Magos]

Thanks again for all answeres. One more question, i might get a job at cmcmarkets(a big cfd and forex broker) but that would be in sales or marketing. Would that increase my chances to get a future trading job in another firm?

Yes it will. Try to do the FSA's there. Get them sponsored and the future looks bright after CMC.

Practise your verbal/numerical skills before going. They have an assessment day for juniors.:smart:

 

[Victor90]

GammaJammer: Why would it decrease my chances? Should it not be better to work in sales at a broker than dont work with trading at all? Im currently at Univ. and do not have the time to work full time at a trading firm. Thank you.

 

[crude_lover]

out of interest gamma where do you work or would you rather not say

 

[Magos]

Because they're a crappy bucket shop that the investment banks percieve will teach you bad habits (and they could be right). If you want to work at that end of the market (and you can definitely carve a career out there I would have thought, as they seem to be making money) then cool. But if you harbour hopes of landing a derivatives trading job at UBS / Goldman Sachs etc my opinion stands.

I've interviewed people that had experience at these kinds of places and they didn't stack up that well against other applicants I saw to be honest.

Just my $0.02

GJ

I disagree ... about the chances. I agree with the bucket shop comment.

Firstly Goldman Sachs has 10% of CMC (Goldman Sachs buys 10pc of CMC | NEWS.com.au Business)

Secondly, he can get sponsored for his FSA

Thirdly, interviews have to do also with personality and market research/ company research and LUCK.

Fourthly, Goldman Sachs are not hiring people for Front Office roles. The best thinky to get in Goldman will be a junior position and see the trading floor when you are at your 30's (Talking from experience). Goldman's like to see people in teams who experienced market cycles. Typically a market cycle in the financial world is around 5 years.

Lastly, If you don’t have the Oxbridge University degree or a strong MBA your chances are very small to land an interview in UBS or Goldman’s.

But if you are willing to interview Victor90 and give him a job it’s another story
I think that Victor90 learned a lot. From wanting to pay for a course to landing a job in Trading House and getting paid as well.

 

[Magos]

Ultimately everyone is entitled to their own opinion on this, as nothing can really be proven either way.

And as for Goldies owning a chunk of CMC, that doesn't mean in any way shape or form they think the people who work there are necessarily a good fit within their firm.

GJ

Goldman's is a long story.
Is more like a long shot.

I hope VICTOR gets a job there and prove us all wrong.
:idea:

:clap:
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