Do prop trading positions still exist?

I remember about a year ago on this site people told me to find a company that would give me a certain sum of money and I would be paid based on how much I made for the company.

Do these positions still exist and would they actually give a young person in college money?

 
Bi-Winning:
They certainly exist. In fact, I'm currently pursuing such an endeavor. $50,000 starting capital and $5000 daily loss limit, with $8000 over the top loss.

how do you find this position?

"Look, you're my best friend, so don't take this the wrong way. In twenty years, if you're still livin' here, comin' over to my house to watch the Patriots games, still workin' construction, I'll fuckin' kill you. That's not a threat, that's a fact.
 

Lots of prop shops in chicago; some reputable, some not so much. The reputable ones make you go through a pretty rigorous training program, with lots of mock trading sessions and situations. You'll start as a trader trainee (usually NOT assistant), and if you do well in training and in real situations, they'll give you more and more leeway in terms of limits.

 

Didnt Goldman just close their prop trading unit? About 60-70 traders are looking for jobs. A while ago, I heard JPMorgan had closed ALL prop trading units. this cant be good? My proble is much the same as yours uhm. think I need to look for something else.

Anyone know what happens next to the commodities unit?

 

Who cares if goldman closed their prop trading unit. To me thats just less competition. Go work for a small boutique. They don't treat you like shit, drive you into the ground, much more intimate in terms of meeting good people/networking, and give you better opps to break out early. I say screw prestige, it's all a head game anyway. This is a no brainer for some people. For others, it's nice to have that little brand name star pinned to your shirt.

everyones got a different opinion though I suppose. goodluck deciding.

 
leveRAGE.:
or keep trading flow which involves quite a bit of prop.

Yup. Perhaps add some "extra hedges" for those inevitable positions you'll be holding anyway and looks like....problem solved! Volcker rule is a joke. Until you define what exactly constitutes prop vs flow activity and what is or isn't allowed (which, to begin with, is almost impossible since youll likely never be fully matched 1:1) trading will be alive and well.

 

You guys think there will be divestitures or spin-offs of the prop-trading arms of banks? Personally, I do not see how a prop-trading desk is an attractive investment? I am only 19, what do I know?

The difference between successful people and others is largely a habit - a controlled habit of doing every task better, faster and more efficiently.
 

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