Young Trader Seeking Advice
I currently work at a firm where you have to make a capital contibution of $5000 dollars and the style they teach you to trade is to front run big bids and big offers. I have read pretty much every book I can get my hands on and have a lot of passion for trading. I have faith that I can make money but just do not have any confidence in this style of trading. I was thinking of opening a lightspeed account and going at it on my own or trying to join another firm. I have been here for about 2-3 months and I am down about $2k. There are no older traders here and no real training program at all. My goal would be to go to a firm with someone who could possibly mentor me. Any thoughts?
GET OUT .... any trading firm asking for a contribution is a SCAM. they make money off of the brokerage fees, not your trades ... apply to a prop trading firm that pays a salary like FNYS, Jane Street, Optiver, and many others youll find on this site.
I would love to but darn near impossible to get a job at one of those shops. Thank you for commenting though and that pretty much seems to be the consensus.
Jane Street, Optiver, DRW, and Getco are kinda tough to get into.
But a firm like Rosenthal-Collins, Chicago Trading Company, The Gelber Group, Peak6, and Wolverine might be easier to get in at. Just a couple ideas.
Seriously, cash out, use the $3K for a bus ticket to Chicago, and start interviewing. They are going to ask tough, mathy questions and ask you about your record- be prepared to defend it.
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