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TOP 3 DESIRED TRAITS IN PROP TRADING
 

DeighTrader's picture
ST
(Baboon, 108
 
Points)
 on 10/9/10 at 7:33pm

What would you list as the top 3 most desired traits/qualities prop trading firms and market making firms look for in a candidate ?

Tags:
monkeysama's picture

Trait number 1: Not being the

O
(King Kong, 1,622
 
Points)
 on 10/9/10 at 7:38pm

Trait number 1: Not being the kind of person who makes top lists.
Trait number 2: See above.

DeighTrader's picture

its called being competitive

ST
(Baboon, 108
 
Points)
 on 10/9/10 at 8:07pm

its called being competitive monkeysama ... and it is also useful to know for many of us who are currently applying for such positions. I dont want to waste valuable interview face time going into detail about my experiences studying abroad if they actually hold leadership in higher regard .. (and yes, i understand that props and MMs dont give 2 shits about studying abroad and are quantitatively focused in their approach, its simply analogical to the fact that we as candidates should emphasize relevantly significant strengths rather than the stale, run-of-the-mill "im a team worker" bit ...)

trade4size's picture

Im looking over to my dry

ST
(Neanderthal, 2,085
 
Points)
 on 10/9/10 at 8:16pm

Im looking over to my dry erase board looking at the things i knew I needed to work on to be more successful as a prop trader. Going to read you in order what they are.

1) This is written 3x bigger than everything else DONT OVER-THINK

2) Think BIG PICTURE

3) BE OPPORTUNITY SEEKING

4) RISK MANAGEMENT - Let winners run (and add to them), cut losses when stop is hit

"Oh the ladies ever tell you that you look like a fucking optical illusion" - Frank Slaughtery 25th Hour.

adapt or die's picture

I think these interviewers

(King Kong, 1,231
 
Points)
 on 10/9/10 at 8:57pm

I think these interviewers assume that if they are across the desk from you that you have trading ideas and have the confidence to take positions in various markets. So to differentiate yourself among candidates I would try to express a focus on managing risk.

Also if you have some well thought out trades and the interviewer questions them don't be too intimidated to politely defend your position.

Jerome Marrow's picture

You're a fuckin idiot. If

O
(Gorilla, 737
 
Points)
 on 10/10/10 at 10:57am

You're a fuckin idiot. If somebody is brand new, not an experienced trader/research associate/whatever, nobody is going to expect you to have any trading ideas whatsoever. You may even (probably) make yourself look like a raging buffoon.

Bondarb's picture

Jerome Marrow wrote: You're a

HF
(Neanderthal, 2,283
 
Points)
 on 10/10/10 at 7:20pm
Jerome Marrow:

You're a fuckin idiot. If somebody is brand new, not an experienced trader/research associate/whatever, nobody is going to expect you to have any trading ideas whatsoever. You may even (probably) make yourself look like a raging buffoon.

I would absolutely expect somebody I was interviewing even at the undergraduate level to be able to discuss and have opinions on the markets. With the amount of free info available there is no reason an undergrad cant have trade ideas.

happypantsmcgee's picture

They are DEFINITELY going to

O
(Almost Human, 9,621
 
Points)
 on 10/10/10 at 9:25pm

They are DEFINITELY going to want you to have positions, ideas, etc. That was the first question I got when I sat down in the office on an trading interview. "Give me one stock you would buy and one you would short with reasons why."

If I had asked people what they wanted, they would have said faster horses - Henry Ford

Jerome Marrow's picture

Completely different

O
(Gorilla, 737
 
Points)
 on 10/10/10 at 9:46pm

Completely different experiences then from where I am and people that are in S&T or in a TA role @ GS, Citadel, DRW, Jump, etc.

Having an informed opinion on the markets is different from having trade ideas. It is assumed you have an idea of what is going on (where the spu is, where EUR/USD is, what is unemployment like, etc.) and having strategies that you want to implement.

adapt or die's picture

Jerome Marrow wrote: You're a

(King Kong, 1,231
 
Points)
 on 10/11/10 at 9:28am
Jerome Marrow:

You're a fuckin idiot. If somebody is brand new, not an experienced trader/research associate/whatever, nobody is going to expect you to have any trading ideas whatsoever. You may even (probably) make yourself look like a raging buffoon.

terrible advice, go back to playing on vector vest

justin88's picture

There's no one right or wrong

HF
(Gorilla, 575
 
Points)
 on 10/11/10 at 12:56pm

There's no one right or wrong way to interview with a trader. In general, two interviewers may disagree with each other on the answer to the same market-oriented question. This is why we have markets in the first place. The trick is to figure out which answer the interviewer wants, and perhaps even defend both sides of the argument.

I'd say that you should have some trading ideas prepared for an interview, but I wouldn't proffer them unless asked explicitly. I'd always follow up by asking the interviewer's opinion on the trade idea.

Jerome Marrow's picture

adapt or die wrote: Jerome

O
(Gorilla, 737
 
Points)
 on 10/11/10 at 2:35pm
adapt or die:
Jerome Marrow:

You're a fuckin idiot. If somebody is brand new, not an experienced trader/research associate/whatever, nobody is going to expect you to have any trading ideas whatsoever. You may even (probably) make yourself look like a raging buffoon.

terrible advice, go back to playing on vector vest

I cited you multiple elite firms (where I either personally have experience with or have close friends that have experience with) that not only don't ask that in interviews for new recruits, at least one of those will think you are quite silly if you start offering them your advice on where people should be putting their money.

Bondarb's picture

You should have specific

HF
(Neanderthal, 2,283
 
Points)
 on 10/11/10 at 3:18pm

You should have specific trade ideas. If the guy dosent ask then dont offer them, but as an undergrad you should be able to develop some ideas provided you are interested and motivated enough to spend some time learning. No one is expecting you to sound perfect but not having anything to say is definitely not smart going into a trading interview. I have interviewed college sophmores who have given me specific ideas without sounding bad.

TNA's picture

Can we agree that while you

O
(Human, 13,508
 
Points)
 on 10/11/10 at 3:24pm

Can we agree that while you probably do not HAVE to have trade ideas it might be smart to have a couple in case you get asked? Every resume is different and it might come up as a way to gauge a persons interest or commitment. When it comes to interviewing for banking, trading, etc I think it is better to be over prepared.

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Macro Arbitrage's picture

1) Discipline 2) Balls of

HF
(King Kong, 1,369
 
Points)
 on 5/1/12 at 5:05am

1) Discipline
2) Balls of steel
3) Humility

"I swear, by my life and my love of it, that I will never live for the sake of another man, nor ask another man to live for mine."

Maximus Decimus Meridius's picture

Jerome Marrow: Completely

ST
(Gorilla, 629
 
Points)
 on 5/1/12 at 7:23am
Jerome Marrow:

Completely different experiences then from where I am and people that are in S&T or in a TA role @ GS, Citadel, DRW, Jump, etc.

Having an informed opinion on the markets is different from having trade ideas. It is assumed you have an idea of what is going on (where the spu is, where EUR/USD is, what is unemployment like, etc.) and having strategies that you want to implement.

I have been asked about trade ideas in at least one of those places. And by 2 different interviewers.

18-1's picture

adapt or die: I think these

IB
 
Points)
 on 5/6/12 at 11:44pm
gammaovertheta's picture

Jerome Marrow: adapt or

ST
 
Points)
 on 5/8/12 at 1:01pm
protectedclass's picture

BB S&T != Chicago Prop. I

 
Points)
 on 5/8/12 at 12:02pm
Jerome Marrow's picture

gammaovertheta: Jerome

O
(Gorilla, 737
 
Points)
 on 5/8/12 at 6:33pm
gammaovertheta's picture

Jerome

ST
 
Points)
 on 5/8/12 at 6:55pm
heister's picture

Balls Quick brain A huge ego

HF
(Neanderthal, 2,465
 
Points)
 on 5/8/12 at 6:54pm

Follow the shit your fellow monkeys say @shitWSOsays

Jerome Marrow's picture

gammaovertheta: Jerome

O
(Gorilla, 737
 
Points)
 on 5/8/12 at 7:17pm
gammaovertheta's picture

Jerome Marrow: What

ST
 
Points)
 on 5/9/12 at 3:15am
Jerome Marrow's picture

I was partially being a

O
(Gorilla, 737
 
Points)
 on 5/9/12 at 7:37am
Cash4Gold's picture

Jerome Marrow: I was

ST
(Gorilla, 664
 
Points)
 on 5/12/12 at 9:10am
Jerome Marrow's picture

Cash4Gold: You might get shat

O
(Gorilla, 737
 
Points)
 on 5/12/12 at 9:41am
gammaovertheta's picture

Jerome Marrow: The whole

ST
 
Points)
 on 5/12/12 at 12:07pm
Tupac's picture

I have been asked, but they

(Orangutan, 369
 
Points)
 on 5/12/12 at 12:51pm
Bondarb's picture

Tupac: I have been asked, but

HF
(Neanderthal, 2,283
 
Points)
 on 5/13/12 at 8:50pm
Jerome Marrow's picture

gammaovertheta: You clearly

O
(Gorilla, 737
 
Points)
 on 5/15/12 at 6:22pm
Jerome Marrow's picture

gammaovertheta: You clearly

O
(Gorilla, 737
 
Points)
 on 5/15/12 at 6:22pm

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