Bringing your own capital to the game

watersign's picture
Rank: Orangutan | banana points 337

Hi guys,
I know most of you on here are students or currently employed as traders at different types of funds so I was hoping the latter might be able to help me out.

Once in awhile I see trading jobs posted and they offer 'training' and you must bring your own capital to the table.

Has anyone done this before and had success? Is the training worth it?

I suppose it's like buying your way into a job but I know I wouldnt pass any of those interview questions for any prop firms.

I'd like to hear your opinions. Thanks

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Comments (6)

Jan 5, 2013

I have heard success stories from this route, but it is a tough one. On one hand, it feels like a fly by night thing. Some shops advertise that they don't require that in order to show strength of balance sheet and that they are established. However, I could see how if you are trying out a brand new guy and he is going to have discretion over a significant amount of your money, that you would want him to have some skin in the game. So, it might just mean better risk management. The opportunity to learn from a great trader is awesome, so I would try to do a lot of work understanding how the guys there make money, if you could really learn it, and if people will actually spend the time with you.

Jan 5, 2013

Its not a great route to be honest. These firms are generally sketchy in the way they do business, and a lot of them make money off you irrelevant of how much you make.

THinking about it its just a bad trade, why go to a shady place where you risk your money, when there are many places that actually provide a fixed salary.

Also, even more importantly, from the words of a recruiter for one of these types of firms that came to my campus when i was back at university "if you take a job with us say goodbye to any chances of a BB trading gig, because that transition just doenst happen ever"

Jan 5, 2013

if you arent going to pass a prop interview, is trading for you? Give us a bit about you and what you like doing, otherwise you're just another guy thats staring the too good to be true offers in the mouth, buy a job, get rich.

Jan 5, 2013
trazer985:

if you arent going to pass a prop interview, is trading for you? Give us a bit about you and what you like doing, otherwise you're just another guy thats staring the too good to be true offers in the mouth, buy a job, get rich.

I work as a data analyst at a marketing firm now and i have no job offers at the moment to do this..I am genuinely just curious, that's all.

I am the kind of person who learns, and learns quite quick, by doing and watching as opposed to reading theory and being tested on it.

I understand that logic puzzles and whatnot do show how sharp someone might be but I don't think they're the only way to prove ones self.

alpha currency trader wanna-be

Jan 5, 2013
watersign:
trazer985:

if you arent going to pass a prop interview, is trading for you? Give us a bit about you and what you like doing, otherwise you're just another guy thats staring the too good to be true offers in the mouth, buy a job, get rich.

I work as a data analyst at a marketing firm now and i have no job offers at the moment to do this..I am genuinely just curious, that's all.

I am the kind of person who learns, and learns quite quick, by doing and watching as opposed to reading theory and being tested on it.

I understand that logic puzzles and whatnot do show how sharp someone might be but I don't think they're the only way to prove ones self.

ok i'll call you out on this, give me an example. trading is HUGELY problem solving based.

Jan 5, 2013

alpha currency trader wanna-be