Can I show my P/L to an employer?
For the last few weeks I have been interning with a friend of my parents who is a Proprietary trader. He doesn't work with a firm or anything, just trades from an office down the street from his home. He is very good at what he does (I've seen him make more than 50k in a day and barely look excited) and I have learned a lot from him.
I also opened up a mock trading account with thinkorswim, where I started with 100k. In the last three weeks I have brought it up to 125k, something I am very proud of, and attribute to the awesome skills my mentor has given me, as well as my own heuristics. I will eventually transition to real money, but I really want to be confident.
Since trading is totally merit based should I show my gains to an employer? I would like to work in a BB S and T desk in the future and dont come from a particularly prestigious college, with only mediocre grades. But I really do love this work and the market.
Does anyone think this could get me noticed?
If anyone is wondering I am trading mostly index futures and a small amount of FX, thanks in advance
No, a demo account won't get you noticed, no matter how much paper money you have made... You're getting very much ahead of yourself here, methinks. After "a few weeks", you should be still assuming that the central scenario applies. Specifically, that you know nothing and are exceedingly likely to lose large amounts of money, if you're given the chance. Moreover, the way you emphasize your mentor making 50k in a day suggests to me you've got your mind in completely the wrong place.
You've made 25k on a demo account on a raging bull market. Woohooo! time to go live baby! Yeeah!
When I used to trade forex with 100x leverage on a demo account, some days Id make 10%, some days 20%. Some days Id be down 50%. Then I came to the conclusion that I had no idea what was driving the market and that I was an idiot.
Certainly don't bring up your demo account, start investing real life and face the psychological effect. Why a BB S&T? You could also go to a prop shop. Some prop shops don't mind low grades, you just have to be very fast in math and have some modelling/programming skills.
Until you trade real money you don't have a PnL to show. Plus, a couple of weeks is not a significant period.
You could also open 256 demo accounts. Buy on half of them, sell on the other half. One month later, discard the losers, and out of the 128 winners, keep long on half, and sell on the other half. Repeat ad nauseam, 8 months from today you will have one zero-defect 100% winning account. Now, that would be really hard to replicate in real life, huh? Even mentioning trading simulations makes applicants look silly.
oy forget I even posted you guys are so unhelpful sometimes
Probably not as unhelpful as your fake P&L
That he's a unique, precious snowflake.
Can you imagine a pilot interview at Hawaiian Airlines... "I didn't crash the flight simulator after ten flights!" LOL.
Sorry this is late: LOLOLOLOLOLOLOL
Start a real account, with real money (even if it's just a grand) and start trading. Psychologically it's a whole different ball game. See what it feels like to be up or down $1-2k as a college student and you'll get a better picture of how good of a trader you really are. Go through a bull period & a bear period and see how embarrassed you get. You haven't learned any of the humility that'll allow you to constantly question your positions, which is how you stay alive.
I didn't post here to lie or boast I came here with a simple question and some background and all I received was scrutiny. I had no intentions of showing anyone a mock trading account, all I asked was if it would be appropriate to show employers a P/L ratio. Thank you for nothing a**hats
Your reaction to all the commentary is reinforcing the idea that I tried to communicated to you in my initial response. Specifically, that, regardless of your demo PNL, your attitude is completely wrong.
Martin, how accurately could you possibly gauge my knowledge on the market and experience from a 150 word forum post? I didn't ask if you guys thought I was ready to trade, just if bringing up PnL was appropriate
I did respond to your specific question about bringing up your PNL. As to the rest of my comment, please do try to take it in the spirit in which it was given, i.e. as free advice designed to help you avoid the obvious pitfalls inherent in your chosen path.
I feel stupid doing this but it's the internet so whatever, this is my PnL so far today http://img203.imageshack.us/img203/7259/imagefdd.jpg
Generally track records have to be at least 18 months of actual performance to be considered seriously, and thats with real money. Aside from that, you should probably write investment thesis, 1-2 pages tops, describing everything re: individual trades.
I think everyone did respond to your question. You shouldn't bring up a PnL of a paper trading account. It's not a real PnL. Trading without money on the line is extremely different from trading real money, which will make the interviewers laugh at you. Specially if you only made money for 3 weeks, which can be easily attributable to luck and leverage. When you have made money for a couple of years trading real money you can bring it up.
So after 6 weeks of simulated trading with consistent daily gains I decided to trade real money. I'm now on my seventh day trading, and have had gains of almost exactly 1.5% daily. I am going to be getting a tour of JP Morgans trading floor sometime next week, so if I continue trading consistently until then and bring it up to the guy showing me around what do you guys think he will say?
Just curious, but what are you trading for 1.5% per day? What kind of strategy?
Just f*cking with you, amico :). I expect a polite and noncommittal shrug, under an optimistic scenario. Yet again, like I mentioned previously, you're getting well ahead of yourself here.
Well I was invited to tour the trading floor so I am kind of expecting them to ask me about my progress
I don't expect to meet with James Dimon but I don't know how routine this is so I wanted to get your guys input on what to expect
It's impossible to say w/o more context. However, here's my advice: expect nothing and you only have upside.
At 1.5% per day i am pretty sure u r over-betting your book massively...keep trading but im guessing this will not end well.
If you're so fvcking amazing why on earth would you join a BB? You're making 5500 a day according to your P/L that you posted. Thats 2 mil a year. No BB will be able to match that until 15+ years into your career. Get your buddy to spot you a couple hundred k and start trading. Hes making 50k a day so that shouldn't be too hard for him.
When you are rolling in dough, dont forget to invite me to a party on your yacht!
If you aren't confident enough in your abilities to do the above, then you realize on some level that it doesn't mean shit and don't even mention it. Say that you are trading a paper account and are learning a lot and stop there.
Strongly advise to not even try bringing this up... UNLESS: you're going to show them a well-researched trading system's results that you created. Maybe then.
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