A job as a Floor trader or trader with no experience

[King Midas Touch]

I know this has been probably covered before, but I am From Ohio, United States, and I am interested in becoming a trader, I perfer the floor on the CBOT or NYSE, and buy a seat eventually

or Start a hedge fund or both

I saw that Raymond Dalio and Carl Icahn, and several others had broker/trader jobs

How do i get the experience to be taken seriously by firms? ANd how can I build a investment trading record as im working as a trader on the floor or in the office

I believe Ray Dalio started on the floor. then he was head of the Commodities division at a firm..

It is the experience he recieved on the floor that got him the job as head of the commodities desk.. it is the relationships and the paper proof of successful trades that got his hedge fund started


and How do i find clients when im a trader? how do I find high net worth investors and of the likes?

some of these questions are rather dumb.. but i'd rather ask a dumb question than to not ask it at all.. at least ill know one way or the other.

please help

Midas

 

[timsk]

Hi Midas,
Welcome to T2W.

This will point you in the right general direction. It's written with U.K. traders in mind, but the principles are equally applicable to the U.S.
How Do I get a Job Trading?
As for finding people to invest in your hedge fund, that's not something you need to worry about. Once you've got a track record of consistent profitability - they will find you!

Tim.

 

[D70]

I know this has been probably covered before, but I am From Ohio, United States, and I am interested in becoming a trader, I perfer the floor on the CBOT or NYSE, and buy a seat eventually

or Start a hedge fund or both

I saw that Raymond Dalio and Carl Icahn, and several others had broker/trader jobs

How do i get the experience to be taken seriously by firms? ANd how can I build a investment trading record as im working as a trader on the floor or in the office

I believe Ray Dalio started on the floor. then he was head of the Commodities division at a firm..

It is the experience he recieved on the floor that got him the job as head of the commodities desk.. it is the relationships and the paper proof of successful trades that got his hedge fund started


and How do i find clients when im a trader? how do I find high net worth investors and of the likes?

some of these questions are rather dumb.. but i'd rather ask a dumb question than to not ask it at all.. at least ill know one way or the other.

please help

Midas

There is only 1 legitimate way.
Get on a grad scheme at a bank for your initial training.
It's essential. Then go from there.

The books you have read about other hedge fund managers are from history, it doesnt work like that anymore.

 

[King Midas Touch]

I thank you very much for your replies so far.


Ill get into an arcade..

But in the meantime.. A Grad Scheme?

What do you mean, Please clairify?

My grad majors in the future are Economics and Law and computer science..

Are you saying i should change my major to finance? please explain the path suggested

thanks
Midas

 

[King Midas Touch]

At the university i want to go to theres a phd/JD joint degree for Economics and Law.. Im afraid if i get a PHD in economics, I will not be considered for a job hince im Over qualified!! What do you all think?


I also her the CFA here in the States is another good way to recieve merit for experience.. what do you all think about that also?

 

[timsk]

But in the meantime. A Grad Scheme?
What do you mean, Please clairify?
My grad majors in the future are Economics and Law and computer science..
Are you saying i should change my major to finance? please explain the path suggested

Hi Midas,
I think it's just a cultural thing - on opposite sides of the pond!

I think what D70 is referring to is that here in the U.K., some institutions offer a scheme whereby they take on graduates with the right grades in the right subjects - straight out of uni - with no commercial experience. It might only be as an intern, in which case you may have to work for free, but once you get your foot in the door and prove your worth - opportunities should avail themselves to you. Perhaps it works differently in the U.S. Either way, if I were in your shoes, I'd go to Goldman Sachs (or whoever) and ask the HR department how they go about recruiting people for the sort of position you're interested in and what qualifications they'll expect you to have.

 

[King Midas Touch]

ok, ill have to go to New York and walk into GS, and ask them.. Theres chase, Ubs.. i forget the other banks.. Ill have to find companies that recruit.. i guess my next question is, how do I find the financial companies and bank that are doing grad recruitment?

 

[pboyles]

Hi Midas,
Welcome to T2W.

This will point you in the right general direction. It's written with U.K. traders in mind, but the principles are equally applicable to the U.S.
How Do I get a Job Trading?
As for finding people to invest in your hedge fund, that's not something you need to worry about. Once you've got a track record of consistent profitability - they will find you!

Tim.

Mr Timsk

Do you have any suggestions for me?

http://www.trade2win.com/boards/foyer/158578-job-professional-footballer-no-experience.html

 

[rsh01]

I perfer the floor on the CBOT or NYSE, and buy a seat eventually

i dont know if you have heard, but the floors have been shrinking for the last 20+ years to tiny levels. also trading desks have shrunk and will continue to over the next few years. big banks are increasingly swapping traders for code.

if you do not know how to apply for a grad scheme at a big bank then my bet is your chances are zero, with the above in mind.

then again you may be The Leopard, so you wld have known all of that anyway.

 

[King Midas Touch]

Ok... so I need to start coding.. but will they take a grad with a computer science/law/economics PhD? And you mean closing as in programming right?

 

[King Midas Touch]

Ok so I go to an arcade and then apply at a bank?

 

[King Midas Touch]

I mean coding not closing

 

[D70]

Midas,

I'm not getting you. You seem to know absolutely nothing about the industry.
Did you wake up yesterday and think "I want to work in a bank"?
If so, wake up tomorrow with another dream.
You're wasting everyone's time.

Thanks.

 

[scose-no-doubt]

ok, ill have to go to New York and walk into GS, and ask them

Say hi to Lloyd for me.

 

[King Midas Touch]

Look D70 I dont know who the hell you are, but lets get one thing clear, im no spring chicken.. And im not a punk B**ch either. So Dont come at me like that.. I do know a thing or two about finance.. it's just some differences across the pond that i dont understand. So lets calm down the attitude, because you dont know who I am or what im about, I could be a Leopard, you never know, But im just asking the questions so that others who want to know about these things can get a better understanding

 

[King Midas Touch]

Do we understand each other D70? No more smart mouthed comments correct?

 

[neil]

Mr Timsk

Do you have any suggestions for me?

http://www.trade2win.com/boards/foyer/158578-job-professional-footballer-no-experience.html

Mr Timsk.
Dear Sir,
I want to be a day trader at a bank like Barings. To whom do I apply?

Sincerely.
Lee Son

 

[timsk]

Mr Timsk.
Dear Sir,
I want to be a day trader at a bank like Barings. To whom do I apply?
Sincerely,
Lee Son

Hi Lee Son,
I suggest you apply to the Chairman, ensuring that attached to your covering letter is a cheque for £1.5bn, with a highly creative account of what you were doing in the mid 1990s. That should do the trick.
:cheesy:

 

[neil]

Hi Lee Son,
I suggest you apply to the Chairman, ensuring that attached to your covering letter is a cheque for £1.5bn, with a highly creative account of what you were doing in the mid 1990s. That should do the trick.
:cheesy:

:cheesy::clap:

 

[Armory]

Quite tricky now with a ton of traders being kicked out by UBS