Prop Trading....Is it good for anything?
Working for Prop trading firms, if you do get sick of it, or find it is not for you what type of exit plans are there? Is prop trading looked highly upon on a Resume or is it not worth much? 6 months? 1 year? 1+ years, does any other company care how much prop experience you have if you are wanting to shift to an analyst, energy trader, commodity trader etc etc. non-prop trading.
Just curious :-)
I think you need to narrow down the style of prop trading you're talking about, because you can be a prop trader who trades commodities or energy, so they're not mutually exclusive choices.
As far as exit opps go, it depends on your age and how big of a change you're looking for. If you're young and you decide fairly quickly the industry's not for you, your education is still recent enough that you could probably do something else. If you are in an arcade-type equity prop shop and want to lever that into trading a different asset class or for a more reputable firm, that would be harder to do unless you have a great track record and can prove you're a good trader regardless of where you are.
More specifics might get you a better answer to your question.
Yeah sorry about that, I am speaking of Intraday Trading, 100% performance pay style trading the equities market scalping pennies or really any strategy you can pull off in a day. Standard to work several months without any payment unless you are one of the lucky few who can perform from day one.
Are companies like this a positive point on a resume in the financial/trading industry or would a "bank teller" be looked upon more highly? I guess what I am asking is hard to be very clear.
I don't think it's going to help you much, as you don't learn a ton of skills useful outside that area, but I also don't think it's necessarily going to hurt you. The goal is to figure out as quickly as possible whether or not you made the right choice.
What about being a quantitative/algorithmic trader in a quantitative market-making firm? Someone like that won't really be getting the software development experience that he would get in a software engineering role. What career options would he have should he choose to leave the trading firm?
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