Hi,
a brief one liner about me. graduated in finance in 2010. worked 5 months in audit, been in hedge fund trade support( yup the BO paper pushing stuff!!) ever since and aiming for masters in a year or two...
just got an offer with profile of equities intra day trading....but the scary shit is i nver heard about the co before...they started their operations just last year...nothing on internet regarding this...there is a 3 month training in begining...base is way too low but have been promised around 15% profit cut on my performance...if im in losses for a month they will kick me out..
1) Any advise on joining/not joining.....i am not one of those math wizards who can multiply 4 digit nos in head... ( in fact i thot i had a pretty ordinary interview..only thing that i guess stood out was my energy nd not getting stressed no matter what ws put to me and prob only guy there in final interview list with 0 trading exp)
2) i love following markets and being in the thick of action but i always thot of myself as some1 following a industry, doing fundamental analysis, being a industry expert n stuff later..(currently taking weekend classes for fin modelling).
i m not too sure but any use of fundamental analysis in day trading ? and any traders out there who too were in my same situation. ?
3) most important one......assuming i dont have a change of heart later does pre MBA trading experience in a start up really a big notch above BO stuff i'm doing at a HF..
i know my questions above comes out as fuzzy but i am keeping an open mind right now any piece of advise is going to be really valuable to me at this stage...
Is the job full commission? Personally, I wouldn't take a full commission job. You said you get 15 pct of profits. Is that your full pay or is there a salary? If no base salary, don't take it.
Nopes...i do have a base salary + 15% comm....at my stage of career i am OK if i get paid a little less than due if there is greater learning and good opportunity ...trouble is with their aggressive pitch of attracting "high achievers", being fired in a month if i'm in red, zero credibility i'm having second thoughts regd the exit ops and more importantly the presence of 3 cos in 3 years in 3 diff domains assuming i'm targeting MBA next year or so..
gosh!! i'm just excited nd freaked out at whatever step i choose...
Hey man, I'm an equity trader and even I get a bigger cut of the profit (20%) plus an okay base. 15% sounds a bit low and you have a small base, if you ask me.
Analysis depends on the kind of trading you'll be doing. I don't take positions overnight, but just due whatever the sales guys tell me to do. Which in turn doesn't require a lot of analysis (just know if the company releases any statements during the day). Can't comment on what kind of metrics prop. traders are using.
The good thing is that I don't question what orders I get. I just do it (like Nike) and get to yell at sales if they are unhappy with the prices.
@ working 9-5 ....you raised an important point...i wanted to know if im trading equities n NASDAQ do i develop an expertise over say the range of cos..i am having positions in or for a trader whatever co/security you are dealing with is secondary as long as the technical indicators are all positive?
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