How To Get Into A Prop Trading Firm without Ivy League...
I'm a trader who's done very well without formal trading education, no Series 7 or 56, or even college degree's at all.
I've discovered a system to generate 50%+/month and am looking for the fastest way to get my hands on more capital... which is when I started reading about prop trading firms.
What is a prop trading firm that would work with someone like me and sponsor me so that I can get the series 56 out of the way?
What are the best courses to order to study for this?
And which prop trading firm would let me trade from home?
I'm happy to put up my own capital to let them watch me trade for a few months before they start giving me leverage but I want to find a good match for my unique situation.
Thanks Jason Cox
Max out credit cards, take out max loans. Consistantly generate that 50%+ a month for a year. Start Hedge Fund.
How to calculate your e-Penis:
(monthly return in the market)/(3.5 * # of letters in username) 50/(3.5 * 9) 50/31.5 1.59
Congrats, Mr. Cox your e-Penis is 1.59 inches.
Trading remotely is not uncommon. Having a great track record to showcase your results seems to go much further than a college degree at these firms.
Here are some examples of open positions http://www.wallstreetoasis.com/jobs/junior-equity-trader-philadelphia http://www.wallstreetoasis.com/jobs/exp-equity-trader-philadelphia
Well, the way I'm doing it may not last more than another 1-2 years so I want to make "hay" while the sun is shining so to speak.
I think my fastest bet is to get series 56 and become a prop trader?
But what firm would I use? Has anyone seen this website?
http://www.remotedaytrader.com
They're suggesting I setup a customer account while I get liscnesed the customer account is this this firm Smf Trading Incorporated
There main website is http://wtsprop.com/ which is owned by someone else, can I trust my money with these folks?
LOL LIVING THE DREAM!
You're making 50%/month...which is roughly 12,874%/year...
Why don't I believe this?
But if you're serious, I'd just max out loans like previously said...you'll obviously be able to pay them back easily.
Yea, I am building my capital in all means possible, I'd still like to get setup at a prop trading firm though.
Yes, I know 50% / month is hard to believe and I guess who cares if you believe it or not - say its 5% a month... where is the best place for someone like me to get setup at a prop trading firm and be able to work remotely?
And where are the best study materials for the series 56?
Thanks for your help guys! Jason
I just found out that prop trading firms cannot give any leverage to stocks under $5?
penny stocks lolololololololololololololololololololololololololololololololololololololololololololol
lol of course......ur playing penny stocks. You have alot to learn boy.......the key word here is "alot", and emphasize it X100
why do you keep posting with that username
There's this guy called Tim Sykes you might want to talk to.
50% MoM return? If this is the case you are the best trader in the world. Why do you want to trade on behalf of someone? Just trade off of 1,000 bucks and you will be rich by the end of the year.
Prop Shops (Originally Posted: 11/29/2010)
How easy is it for top state school grads(math) to get into the interview process (trading) for respectable prop shops(i.e. Jane Street, DRW, etc.) More interested in NYC than Chicago.
any real life exp would be appreciated
Thanks
If by top you mean Cal, Michigan, and UVA, you will get interviews with good GPA.
numm is right. U of I, Purdue also good
From prior experience at one of the schools numm mentioned, you can get plenty of prop interviews and a 4.0 is definitely not required. How good the GPA needs to be depends on how strong the rest of your resume is, like it is in most industries.
thanks to all posters for your input, really really appreciated.
From my experience, depends on your major too. JSC and DRW will usually just ignore people with business/finance degrees, no matter where you are coming from, unless you have very strong computer programming experience or a math/engineering minor.
I was a student-athlete at a top 10 B-School with a 3.5ish and couldn't get interviews at the places you mentioned. Maybe I'm just bitter but I feel like your major makes a large difference. They want Math/CS/Engineering.
Might be true for JSC, but DRW recruited at my bschool and not everyone they interviewed had a programming background.
not easy but not impossible.
I had a 3.8 at a private university comparable to the publics mentioned above when I applied to JSC for an internship as an Engineering major and never got a response.
It generally depends on whether or not they recruit specifically on your campus. The online resume drops don't really do anything.
DRW definitely takes non-math/CS majors and Jane St. interviews some people that have 'finance' majors (at least they have @ Penn for sure).
Why NYC?
An extremely good GPA form any 'public ivy'( Cal, UT, et al) or a Big 10 school should get you an interview in Chicago. I agree with Jerome, the on-line resume drops are not a good way to go. Better to talk with someone in person.
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