hi there~ can any one advice what's the career path like for a trader in prop trading firm? are they supposed to be a trader forever or get fired? any chances to switch to i banks? or other sectors like hedge funds, etc?
i think to trade for a prop trading firm, it takes a lot of discipline. with the correct discipline, mentality, and homework, i think most people can earn a decent income. since you're practically on your own and don't have a boss to watch over you, need to be discplined. i think if you have a good trading record off a prop firm, you can present it to trading depts within ibanks. i'm sure they'll take you if you're impressive. it would just be more money for them. i've been trading for several years now with a prop firm that i'm happy with so far. let me know if you're interested in starting and maybe i can get you the same deal as me.
Yeah. I would take that offer and run. Unfortunately for me, that is not an option unless it is in Chicago or Texas. You should definitely look into it.
I've traded for a couple of prop firms and for the most part they just want your money and could care less about your P/L record. Don't worry about moving away from where you live now; you can trade from home as a remote trader of the firm. Please be very careful when selecting a firm. You must make sure that there capitalized properly because you don't want to end up like those poor guys at Tuco Trading. Tuco Traders got royally fucked....
hi... I work for a prop firm...its in india so i m not really aware about the situation in the US. ALthough in my firm YES u can get fired... even the best traders can... I made quite a bit of money for almost 4 quarters and now i m down just about 10% of the money that i had made... n m facing problems already.. u have to constantly perform... u relax for a moment n get busted...(which can be good actually) but its a real pain... but the good thing is "We DONT need to pay for the losses" but ya knowledge level does go up due to competition and the peer. Anyway GoodLuck to you.
Did the prop firm train you initially with their way of approaching & trading the markets? Or do you only get a break with them if you are experienced and possess an impressive track record trading your own way? I wouldn't mind relocating to any part of the world if the firm was decent and provided initial training. Thanks for the info.