Networking with Prop Traders
I know that networking with traders at banks is very important to secure interviews, but is that also the case with Prop Trading firms? I'm looking into internships at some prop shops, so I'd like to know how others were able to secure interviews.
1) learn how to learn 2) learn something of value to a trader...such as creating a strategy with good risk:reward ratios...back test...understand the strategy...why does it work...when does it break...how to hedge for tail scenarios...when to hedge for tail scenarios.
This will give you something of interest to talk about with a prop trader. It will also probably take you years to figure this out...but that's the life of a trader...so you should have started yesterday We are constant students of the market..until you retire..and even then still...
Thanks. I appreciate your input.
idk what want2trade is smoking when OP just wants tips for internship recruiting.
Networking has some value depending on the firm. For example, Optiver lets people who reach (not even necessarily pass) their on-site superdays to give recommendations for hires. But at the end of the day you probably get put into the standard recruiting pipeline.
tbh most prop shops cast a wide net anyway. SIG interviews everyone and their dog.
i was intending to light the fire of intellectual curiosity...this gives aspiring traders something to think about, and help spur onward their journey. You must learn something, in order to have something interesting to talk about. Motion creates emotion.
Networking doesn't hurt. Like most Investment Banks (but more selective), they recruit from the top university/colleges, so you can try your luck there.
No. If you can't pass their tests, it doesn't matter who you know or how likeable you are. Don't network... get good at probability theory, mental math, and programming if you want a job at a prop firm. Unless you are talking about some bucket shop in NY, then I don't know but every options MM firm cares about talent above personality.
Networking has value precisely when an otherwise intelligent candidate doesn't even get an opportunity to take these tests after the resume cut stage.
But I agree with the general sentiment that if you don't know how to solve brainteasers or math problems then it's mostly wasted effort.
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