Eldorado Trading Group.. Anybody?

Northwestern_MBA:

I actually know Eldorado well.

The good;

They have a great training program and actively encourage their traders to trade 'size' when they are ready. Eldorado has produced many profitable traders who have gone on to trade their own accounts.

I would recommend going with a shop this size vs. a bank. You have direct access to the owner at all times to help guide you through all the stages that come with developing a successful trading career.

The bad;

They ask you to adhere to strict hours. If you are an electronic trader you know that being forced to sit in front of the screen all day can lead to making forced trades. This can negatively effect your daily p&l while funneling commission money into the firm. I would try to negotiate this area of the contract to allow yourself more freedom. Perhaps the opportunity to trade remotely after time. I have found being in an office with other traders to be more of a distraction than anything else.

Hope this helps

Great information. Do you know what the compensation is like?

I am wondering the same!

It closed down.

I'd be interested to hear this as well. I just had a phone interview with Eldorado and would like to know what lies ahead. Also would love to know what Eldorado's reputation is.

Bump...I'm a fairly prominent poster here but started a new account to protect my identity as I don't want to tip off my potential employer (in my main account I've given some details of my work experience, so it could give me away). I'm no Eddie, ANT, Comp, Brady, or happypantsmcgee...but help a WSO brother out. Someone here must know something about Eldorado and I'd really appreciate some help.

I'd try to find out their salary before going further. I wasted quite a bit of time filling out applications to a place that ended up only paying 2K/month in "draw" during the training period. And this was in NYC!

I was under the impression that a lot of trading firms paid a draw and percentage of your trading profits. I know there are some elite places that pay a high salary in addition to a percentage of trading profits, but I thought that was the exception. Can someone that works in the industry shed some light on this?

Also, if anyone has any more info on Eldorado I would really appreciate the help.

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