G-2 Trading
Anyone know anything about G-2 Trading? Are they legit or is just a burn and churn?
What’s It Like To Work At G-2 Trading?
Though a smaller firm of around 200 traders, they are considered a legitimate company, focusing on equity and options.
User @JoeMor, who works for G-2 Trading, offered to share his experience:
The company has several groups, the largest two have about 15 (equity options and biotech). Junior traders sit next to an experienced trader for a one to two months paper trading until you prove you can make money with a low risk, consistent strategy. Then you start trading small positions, and success is rewarded with greater position size. You can start trading completely on your own after six to nine months if you can generate good profits.Pay is broken into two parts: monthly salary and a cut of your quarterly trading profits. These are negotiated to a small degree, but don't expect anything amazing as a trainee. The upside comes from your ability to generate P&L. If you are good, you won't have to worry. If you aren't, you won't be here very long.
If you put up your own money, the firm will lever you quite generously and give you a nicer cut, but they forego any salary. I doubt you will have $200,000+ in savings to bring to the firm, so most of you can safely ignore that option.
If you lose money, you do not have to compensate from your own savings, but there is a high water mark system in place. Think of an account where your daily P&L is deposited into or taken away, and you get a % of that every three months, where it reverts to zero again for the next quarter.
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I have recently accepted a junior trading position at G2 Trading LLC, and the company is quite a legitimate, if small (~200 traders) equity/options proprietary trading firm. The HR director told me that they are finished hiring for 2011 right now, but will be looking to expand again next year. PM me if you want to know more about culture, specializations and etc.
Sama, Didn't you speak with them?
Hi All, I am wondering what their specializations are, what size the trading teams are broken into, what exactly the Jr traders do (risk management?), how often Jr traders receive a pay check if they are unsalaried, what the culture is like. Also, Jr traders help to trade exclusively the firm's capital right? So if the team has lost money, the Jr trader wouldn't have to compensate for losses from his own savings?
Hope to hear from you. Thanks in advance for any advice you can offer!
I am still with G-2 Trading, and can answer questions if you wish.
The company has several groups, the largest two have about 15 (equity options and biotech). Junior traders sit next to an experienced trader for a 1-2 months paper trading until you prove you can make money with a low risk, consistent strategy. Then you start trading small positions, and success is rewarded with greater position size. You can start trading completely on your own after 6-9 months if you can generate good profits.
Pay is broken into two parts: monthly salary and a cut of your quarterly trading profits. These are negotiated to a small degree, but don't expect anything amazing as a trainee. The upside comes from your ability to generate P&L. If you are good, you won't have to worry. If you aren't, you won't be here very long.
If you put up your own money, the firm will lever you quite generously and give you a nicer cut, but they forego any salary. I doubt you will have $200,000+in savings to bring to the firm, so most of you can safely ignore that option.
If you lose money, you do not have to compensate from your own savings, but there is a high water mark system in place. Think of an account where your daily P&L is deposited into or taken away, and you get a % of that every three months, where it reverts to zero again for the next quarter.
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