Hey…I’d like to hear some opinions about an assistant trading position with a proprietary trading firm (not the type where I have to put up my own capital) that has traders on the NYMEX and NYBOT. From what I understand, I would basically be reconciling trades and “paying my dues” for about two years and then hopefully move into a trader role. The firm basically trades commodity options and futures. I know a lot of trading has moved away from the pits towards electronic trading, which they also do. I don’t have much experience at all so I’m wondering what some you guys think…does this seem like an opportunity that has growth potential or can add value to my career? Or am I just wasting my time with something that is a thing of the past? Thanks in advance for any input.
how old are you? what % of trading assistants advance to trader?
I’m 22 years old. They didn’t give me a percentage, but basically said if you prove yourself and think you are ready in a couple years then the opportunity can be there…some people make it and some don’t.
Interesting article on NYMEX trigger point for contracts going fully electronic http://uk.reuters.com/article/oilRpt/idUKN2431401120080424
Mr_Clean Wrote: ------------------------------------------------------- > I’m 22 years old. They didn’t give me a > percentage, but basically said if you prove > yourself and think you are ready in a couple years > then the opportunity can be there…some people > make it and some don’t. I did a similar thing. Left a stable job at a hedge fund 1 year out of college and went to an equity options prop firm. It worked out very well for me but it doesn’t for everyone. You will only succeed if you totally dedicate yourself to being a good trader. You’re young with no responsibilities, I think its worth the risk. You’re young enough to recover if it doesn’t work.
this sounds a lot like a prop firm i spoke with a few weeks ago. if this is the same offer they quoted me a salary of mid-20s and no vacation time to speak of. i’m also 22 (ok just turned 23) and decided that i’m not in the position to make that kind of sacrifice right now. for the few who can make it happen and advance to full trader, it could be a tremendous opportunity. but for those who don’t, you just wasted a year or more of your early twenties making minimum wage and living with mom and dad - which you could have done at burger king. good luck with your decision!
Pox Americana Wrote: ------------------------------------------------------- > this sounds a lot like a prop firm i spoke with a > few weeks ago. if this is the same offer they > quoted me a salary of mid-20s and no vacation time > to speak of. i’m also 22 (ok just turned 23) and > decided that i’m not in the position to make that > kind of sacrifice right now. > > for the few who can make it happen and advance to > full trader, it could be a tremendous opportunity. > but for those who don’t, you just wasted a year or > more of your early twenties making minimum wage > and living with mom and dad - which you could have > done at burger king. > > good luck with your decision! salary of mid 20s? that’s not a prop firm, that’s a chop shop… there are very reputable trading firms that pay you 50k+ base plus bonus. That’s what you need to be looking at.