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JUST RELEASED: New WSO Prop Trading Interview Guide
Proprietary ("prop") trading is an industry that keeps itself under wraps and as a result, there has never been a great resource for candidates to learn about the industry and how to get past the interviews…. up until now! Wall Street Oasis presents the first guide on breaking into the prop...
FlowTraders Phone Call?
I have a call with a recruiter at this firm coming up this week, sounds like it's just going to be a short fit interview, and more information about their interview process. Does anyone have any experience with them? Or their interview process, at least? Thanks in advance for any insight.
Webinar Rewind - Stock Pitching in an Interview + Q&A
In case you missed our September 15th webinar entitled Stock Pitching in an Interview , have no fear. The full recording of the webinar can be found below (free until Saturday morning when it goes into our video library ). SIGN UP FOR A 1-HOUR MENTOR SESSION WITH TOM And, as always, if you want to...
I think I want to be a Quant now
Hello, So I am in my 30s and returned to college two years ago to get my bachelor's degree. I am now transferring and plan on double majoring in Finance and Mathematics. My plan is to eventually pursue a PhD in a quantitative field, either mathematics or computer science. I am interested in a career...
Will it be possible to go from Prop Trading intern to IBD, S&T, or Buyside FT Recruiting?
I will be interning at a respectable prop trading shop in Chicago this summer as a junior. In the case that I find out that prop trading isn't for me, how easy will it be for me to recruit to IBD or S&T at a BB next fall? Or to a hedge fund or asset manager? For some background, I attend a target,...
New to WSO Community
I'm a 21 year old student living in Sacramento, CA, studying Finance/Economics at SAC City College, awaiting transfer to a four year university. My career goals are to eventually get an entry-level front office job in the banking/financial services industry. Proprietary trader, equities analyst, M&A...
Hearing back from an interview - what should I do next?
Hi WSO , long time lurker, first time posting. Sorry if this is the wrong place to post, needed some advice. I had a superday at a relatively small prop shop (prefer not to give specific name) in Chicago about a month ago. This was for a full time position. It went very well, and the firm said I...
Hard Eight Trading
Has anyone ever been through there interview process? Also, do anyone have any information about the company? Thanks
Series 6/63 or 7/66 licensing
Hi guys, just thought I'd jump on here and see if anyone can help answer some questions. I entered into the financial planning field about 3 years ago at the suggestion of a friend to get my licenses. However, I only received my life and health before I went on to leave the company and start my own...
Goldman quantitative investment strategies vs prop trading
I am a junior at a target school. I have been offered a summer position with Goldman quantitative investment strategies (Asset Management) as well as a summer internship doing prop trading at a firm in Chicago (think belvedere / wolverine / drw level) . I really don't know much about finance, more...
A road map of modern “prop” trading.
Most of the firms are now in both Chicago and New York. There are a few types. Before getting to the types it is worth noting prop trading in reality it is more market making than speculation these days. 1. HFT- to get into these firms you basically need a PhD in Computer Science. They are automated...
Prop Firm Trading or Hedge Fund Trading With No Degree?
So I'd like to look at this hypothetically as a potential plan. I am currently trading during the days and refining my trading strategy/niche. I'm still working nights, but my plan to put $5,000 as risk capital (I'm willing to lose) into an online prop trading firm and trade very conservatively and...
Andrie Capital Trading?
Has anyone had any experience with/seen info on this firm? Seems to be a bit hard to find anything about them. About all I can get is that they're largely a derivs prop trading firm. Located in Chicago. Thanks in advance.
Great blog about the prop trading experience
Can't post links but google "churning burning prop trader" and click on the blogspot link (should be within the first 2 results) The kid was a prop trader at a hedge fund right out of college. Not an interview guide but something that details the up and down world of prop trading for a living. Great...
Starting career at non-top Prop Trading firm (need serious advice)
Thanks in advance for any comments! I recently graduated from a target. I applied to prop late in the game and didn't pass 2,3,4 rounds for more well known firms, but got an offer at non-top, non-market making firm. now that I'm better at interviews, responses have dried up so I started applying to...
What other cools jobs in finance are there besides trading (my opinion)?
I'm a recent grad in finance/economics, and outside of a couple of crappy brokerage (Financial Adviser) offers which I declined, I am unable to find work. My work experience goes something like this: Crappy restaurant jobs: 4 years, Sales 2 Years & Trading my own account 2 years. I know several...
Grad school for Prop Trading recruiting?
If someone went to a shitty undergrad and wants to apply to a top grad school to fix that, which program would give him the highest chance of beginning a prop trading career through on campus recruiting? When I say "prop" I'm referring to a top-tier firm like Jane St, Group 1, FNYS, Trillium, Quad...
Transitioning from Prop Trading to Hedge Fund?
I've seen a few threads about exit opportunities for prop trading, but I feel like I should be a bit more specific with this question. I'm interested in algorithmic and quantitative trading, and was curious about working at a prop trading firm specializing in this. I have heard that a prop trading...
Questions From An Aspiring Prop Trader
Hey guys, Recently I've realized that I seem to have an affinity for trading stocks. I've been recording buy/sell prices for the past 3 months now with good results. Unfortunately, recording is all I can do as I do not have a substantial amount of money to speculate.
Interning for a failing firm?
Okay, I'm in between my sophomore and junior year at a semi target. Have a 3.9 GPA, but no real internship experience. I secured a position at a prop trading desk for the summer back in the fall, however as the title implies, the group is collapsing and will be closed within the next 3 months. I am...
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hey everyone! - novice trader here
Novice trader here looking to learn more about prop trading (NYC area and ideally looking for a reputable firm willing to teach). Hope to learn from all of you!
Ask Me Anything - Current Prop Trader/Advice for people wanting to make it/Breaking in
So I wanted to give some people hope. I will keep my firm names anonymous, but I want to give people help. I am just going to have some random points, and want people to ask anything or even state if you disagree so we can get a nice discussion going. My Profile: I graduated in 2011 with a...
Temp offer dilemma, IB retail internship vs prop trading trainee scheme
Good day, I have recently graduated (Math major) and did an M&A internship, which finished in new year. Since I didn't enjoy it and would like to go into something more analytical personally, I decided to get into S&T . Now I have had a 2 month gap on my CV, and am looking for something to do, while...
Applying to Quant shops while already in s&t
Hi, Basically i have a good job as a s&t 1st year analyst in one of the big US banks. Results are very good and bonuses are up across the board in equities at least. I'm doing well and i like people in my team, but i'm starting to get really bored and the learning curve is flattening much quicker...
Opening a prop trading firm in the Philadephia area
Hey guys, I'm just a lowly monkey on probation here in the forums but we've opened a prop trading firm in Media, PA. Inviting anyone who wants to come trade once in a while to come work from there. Ping me for the address. If you work in other finance areas, that's cool too, I'm sure we can all get...
How to find a group of like-minded traders?
Last year my total return was about 112% although I was only actively trading from about June (from January to May my portfolio was in just index funds and was only up about 8% or so). I have a hybrid, idiosyncratic technique, but I'd like to get involved with a group of other traders whom I can...
Feedback on my current career optionality
I'm going to describe my specific situation here, but to a certain extent, I think this thread could be relevant for anyone with a buyside trading background who is thinking about what their options outside of HF 's might be. I’m a VP, currently working on a CVA desk at a major foreign bank, and...
How I Learned Not To Trade Like A Noob
So we’ve finally made it, the third and LAST installment of the 7 Reasons Why You Still Trade Like A Noob and as promised, I’m going to share my transition in thinking from an amateur to a professional trader based on Marketkronicle’s infograph. Again, I hope this helps all you noobs out there...
The Other 3 Reasons Why You Still Trade Like A Noob
For all you monkeys that enjoyed last week’s post…its back! I’m going to finish up with numbers five through seven as promised and next week I’m going to share what I’ve learned since my time away from the desk and draw parallels to Marketkronicle’s “professional” trader. I know what...
7 Reasons Why You Still Trade Like A Noob
I remember catching a clip of Wall Street Warriors once and this young twenty-something was having a ballin’ roof-top party because he just scored $500K trading for a WS firm! Problem is, trading is rife with these kinds of black swan-type success stories however, the reality is 90% of those who...
Help with highly quant interview questions
Hi, I would like to ask two possible interview questions, any help would mean a lot to me, please try to explain answers, if possible. 1.) You are waiting for a bus which it takes a round trip of 10 minutes to complete (starts again when it completes one tour). There is an ice cream shop somewhere...
My trading results for the day
So i came in with spy and iwm long b/c i'm betting there will be a gov't resolution, and each day, the indexes ends pretty strong. So i have been using my intraday profits as a hedge for my index swings but today was an ugly day. I was down a lot and kept avging down my SPY and TNA positions to get...
Heisen Group
Has anyone had experience with Heisen Group, a prop trading firm ? If so, how was that experience?
Rising senior majoring CS trying to break into trading
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Call all algo traders...
Hey all, It's been a while but AH is back! I'm specifically looking for algo traders or quants here. I did my S&T internship at a BB , graduated college (Finance) 2012, started full time derivatives trading at a reputable trading firm (market maker), and left in the spring. The more I market make,...
Prop shops diversifying their businesses
It's been going on for a few years, and it looks like it's intensifying. Prop shops such as Getco , Peak 6, Archelon, Hard Eight, Allston, and others are going more into customer based businesses such as internal hedge funds and services. This article discusses this trend. Is this proof that...
Volcker Rule Clarification
So I understand that the Volcker Rule restricts banks from prop trading with FDIC insured capital/deposits ( HF , Private Equity, etc.), but what if a bank uses non-deposit money? For example, capital raised from its own equity or debt, investor funds, profits, are these all part of the 3%...
Closest thing to prop at BB?
Hi, I know banks have severely cut prop trading and the relative desks, but I know a lot of BB 's are still running proprietary risk in some format. Does BAML still have a prop desk/ special situations/ global macro desk? If so what is it called? Input appreciated. Thanks.
Prop-shop to BB S&T or HF?
I work at a prop shop in fixed income and am looking to make the jump. This is non-algo, non-quant discretionary trading . A few reasons: - The prop trading approach (day-trading/scalping only) is getting tedious, and there's not enough depth. No exposure to any fixed income derivatives (no options,...
Volcker Rule Against the Ropes
I guess it was a just a matter of time (and hundreds of millions of lobbying dollars), but now that the laser focus on banker misdeeds seems to be waning, lawmakers are signalling their willingness to dump the Volcker Rule forbidding prop trading at investment banks . So I guess the joke's on those...
Ideas for finding Junior Trader interns
After about five years in S+T at various banks and buyside shops, I am starting up a hedge fund based in NYC and focused on Asian markets. Most of the securities we trade are OTC equity and currency derivatives. We commenced trading with 10 million usd in partner capital and have a lot on our plate...
Why Would a Prop Trading Firm Want Me to do ER?
I applied for an ER internship at a prop trading firm. They want to hire me to write articles for a third party website and they claim I will have a professional staff to guide me through the process. I'm just a little confused why a prop trading firm would have an incentive to do something like...
Prop trading firms for Options?
Fellow monkeys, I am looking to trade options for a living, and I'm looking for prop trading firms that allow you options trading, I'm not looking for leverage as I know there is no leverage in Options trading, I just want the ability to get out of the Pattern Day Trading rule without needing 25K in...
DB structured products trading to GS, MS, or JPM?
Is it possible?
MFE right after undergrad?
I have the option of getting a five year BS and Masters. The BS is in quantitative finance, and the Masters would be in Financial Engineering. Would spending the extra year and getting the MFE increase my chances at getting an offer at BB S&T , HF , or even top prop trading shops? MFE is top tier 2...
Prop Trading or Investment Banking, Which is harder to break into?
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Chimera Securities Final Round Interview
Hi all, I have a final round interview coming up with Chimera Securities. I was just wondering if anyone who has recently interviewed could shed a little light on what will be asked. Also if anyone in the training program (currently or previously) wouldn't mind sharing their experiences/thoughts,...
Jobs With Proprietary Trading Firms: Five Pitfalls to Avoid
I've received a large number of emails from traders interested in joining a proprietary trading firm. Many of these correspondents appear to lack understanding of prop firms and what they have to offer. This leaves them open to pie-in-the-sky promises from less than reputable firms. The links below...
PEAK6 Assessment Test
I applied Trading Assistant Program at PEAK6 and was asked to complete an assessment test. I am wondering anyone has any idea of what it is. Appreciate it. What is PEAK6 Investments? PEAK6 is an investment firm located in Chicago which focuses on capital management, clearing services, investment...
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