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In need of some advice on a trader position
Posted: September 11th, 2007, 11:10 am
by LoveTrading
Hi guys, hope u guys could provide your views on my situation. I have applied to several big banks and proprietary firms as a junior trader. For the big banks, i already passed a few rounds of interviews but i dont know how many rounds in total. recently i got an offer from a small proprietary firm. they do day trading. Anyone can advise the pros and cons of taking up this offer? Also, do u guys think day trading can make profits consistently as compared to position trading? Pls feel free to share with me your life experiences as a trader. I will really appreciate your inputs to form a better picture. Thanks in advance!
In need of some advice on a trader position
Posted: September 12th, 2007, 2:07 am
by PaperCut
QuoteOriginally posted by: LoveTradingHi guys, hope u guys could provide your views on my situation. I have applied to several big banks and proprietary firms as a junior trader. For the big banks, i already passed a few rounds of interviews but i dont know how many rounds in total. recently i got an offer from a small proprietary firm. they do day trading. Anyone can advise the pros and cons of taking up this offer? Also, do u guys think day trading can make profits consistently as compared to position trading? Pls feel free to share with me your life experiences as a trader. I will really appreciate your inputs to form a better picture. Thanks in advance!A ham sandwich can - and will - get an offer from a "small prop firm that does day trading." Do yourself a favor and keep pressing the big firms you mentioned. Don't take the other route - you will be chewed up and spit out, and you will not be any more marketable afterwards. In fact, maybe less so.
In need of some advice on a trader position
Posted: September 12th, 2007, 6:39 am
by daveangel
i would agree with Papercut - i think u need to get solid introduction to trading and i am sure you wouldn't get it from a small "propriatry" firm day trading. Are they going to pay you a salary and bonus ? Or is compensation based on commission generated ?
In need of some advice on a trader position
Posted: September 12th, 2007, 7:48 am
by LoveTrading
Hi Papercut and Dave,Thanks for your advices. I was worried about learning nothing about decent trading skills from the proprietary firm. They are offering me a decent basic ( it's 2/3 of fresh degree graduate's pay) and they offer a profit sharing scheme (around 10%) . I just rejected them. But i love trading. If i get rejected by the banks, I will still trade on my own. I'm not sure if I will be able to pick up the secrets from traders in the Big Banks. Are the two of you working as traders in Banks or are u trading on your own? I would love to learn more about your experiences if you dont mind sharing. Thanks in advance