Trader-no luck with employment
Hello everyone,
I am a Trader who specializes in trading index futures and I have over three years experience trading the same.I have been managing my personal account all this while(i am self-taught) and have been looking for investors or job opportunity as a trader at prop trading firms.A number of firms I applied to have rejected my application and I guess the reason is that my self-employed nature right from the time I completed my Bachelors degree in 2010 is a negative.Also,I don't have any Math or coding background.Everywhere I search,they prefer/need programming background.I am based in India and specialize in US and European index trading and so I am not able to find a true prop trading firm trading US markets.I can only find Tower Trading and they need quants only.There are Citi,HSBC,Deutsche and similar traditional ones,but from what I understand,they don't have any active trading floors,only support,monitoring and post-execution stuff.
Being in this country has caused its own sort of problems.Even if a US firm accepts,it will take time for the Green card.My preference is Europe and a couple of firms who were willing to schedule an interview would not sponsor work visas.Then,they have guidelines to prefer natives and European region citizens and stuff like that.I also tried talking to T3 since i found it to be one viable option even though I have to pay and even they don't accept guys outside the US.All in all,a bad situation.All I can find are companies like Daytradetheworld and Topstep and I doubt their business plan.I have worked with Topstep too and left because the max drawdown is 2% of the account balance and it takes forever to achieve their targets.
I will be glad if someone could direct me into anything that I can start soon with.Open to everything-remote trading,in floor,partnership,anything.I specialize in the Russell 2000,Dow,S&P and DAX indices.
Thanks in advance.
What about Maverick?
I have either read extremely good reviews or extremely bad reviews about them.Nothing in between.Nevertheless,I have gone through their website and understand that they have their own training which you have to undergo and trade only that.I have spent close to four years tuning and adjusting my strategy and I don't want to let go of that.
In Europe you can try out Webb Traders, Mosaic Trading, Geneve Trading (Not sure about its name but based in switzerland). Also for HFTs there are Optiver and IMC Trading.
I'd suggest you to look for opportunities in Netherlands since there are multiple trading houses there.
Also, in India have you tried BluePoint trading?
I have tried Webb,Geneva,Flow,Marketwizards,almost all firms in Netherlands but no luck.Marketwizards only have partnership opportunity.I have discussed opportunities at Bluepoint Trading too.They have a different compensation structure,which didn't make sense.Instead of the standard fixed $ multiple for every point,they pay their fixed rate per point you take.Eg.If i make a 1 point profit on SP500 futures which equals $50,they pay $1 or $2 for the one point you made.On top of that,I have to pay about $400 to join,which means I will have to take 400 futures points just to break even.
Well I guess then maybe Voodz or nofundforoldtraders or ironnchef can help you out.
Also yes most European firms do not sponsor work visa for Non EU candidates. So you have to try and get relevant visa on your own unless you go to a large firm like Optiver or IMC.
Cheers
True.From what I understand,its not possible to get a relevant work on your own without a valid job offer from a registered company.
SMB has a futures trading desk that is new. You "tryout" paper trading futures remotely on their platform until you reach 5k in net profits (1k daily stoploss). Once you reach that target, they give you a live account where you can trade upto 6 contracts (with same daily stoploss and profit target)...after which they increase your stoploss and profit target and you progress up the ladder of risk...completely peformance based, and i think there are no geographical limits.
check it out...
https://smbcapital.lpages.co/smb-futures-proprietary-trading/</a">https://smbcapital.lpages.co/smb-futures-proprietary-trading/
I had a look at it and it seems to be a possibility.Thanks for the input
The reasons you listed are obviously what's hurting you. See what you can do to reverse those hindering reasons and go from there.
I have got an investor who has agreed to work with me by setting up a LLC.So,I will be able to work under its name and hopefully use that in my resume for future employment opportunity.
Thanks for the mention, JoyfulMonkey
As per the OP's question, my experience shows that most firms want you to play their game and teach you how to do it. And you already are profitable and have your own way of taking what is yours from the market (presumably, although I do not know what your track record is).
If your strategy can be subjected to automation, probably Quandl is a good option since successful strategies can get funded. Obviously in a scenario like this the scalability of your approach will be crucial.
Last but not least, I do not thik that anyone at my firm trades Futures, but I will check for the record on Monday. In case we have access, I will let you know.
Yes,I am trying for that possibility.Quantopian and Quantiacs are also options.Do you work for the firm you mentioned?Thanks
I am not affiliated with any particular names mentioned in the discussion.
Other than that I do work as a Proprietary Trader, yes.
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