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#1
02-21-2006, 02:49 AM
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Post deleted by Mat Sklansky
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#2
02-21-2006, 01:04 PM
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Re: Quickest path for me to become a trader
I have a similiar question, but more specifically, how to become a market maker? Do I have to be a successful trader on my own first? What financial things do I have to know about, what markets? (e.g. options? currency markets?)
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#3
02-21-2006, 02:10 PM
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Re: Quickest path for me to become a trader
[ QUOTE ]
I have a similiar question, but more specifically, how to become a market maker? Do I have to be a successful trader on my own first? What financial things do I have to know about, what markets? (e.g. options? currency markets?) [/ QUOTE ] This may sound overly simplistic, but the best way to become a market maker is to try and get a job as an assistant trader with a firm that has a lot of market makers.
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#4
02-21-2006, 07:25 PM
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Re: Quickest path for me to become a trader
My old boss had a funny line. When Leslie Quick came in to wish us a happy holidays - We didn't know this when he first walked in (Quick and Reilly) We said, "What's he doing here?
My boss said "He wants to know why a guy with a fourth grade education makes more money than he does." He was talking about himself. To be a market maker does not require much in the way of education. To get onto a trading desk at a sell side firm often requires an MBA.
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#5
02-24-2006, 01:20 PM
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Re: Quickest path for me to become a trader
Its one of the toughest business to get into...you have to start at the bottom and work yourself up...turnover rate is really high...
If i were you i would look into getting a CFA....you could take the first level twice a year... and try moving to NYC...thats where all the jobs are~
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#7
02-21-2006, 07:49 PM
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Re: Quickest path for me to become a trader
[ QUOTE ]
I would like to get into trading at some point. Trading not in the pits but I want to trade with a firms money (so i guess this would likely be at a hedge fund or ??)-I think this is called a 'prop trader'. [/ QUOTE ] Traders at prop firms generally put up some of their own capital in return for access to a significantly larger amount of margin buying power than they would be able to get on their own. The firm may also require you to go thru a training process (as well as take the series 7 exam). Additionally, you will likely have someone reviewing your risk management on an ongoing basis. The more successful you are, the larger amount of capital they will give you access to. Bright Trading is one of the most well known prop firms! fwiw... Chris "Jesus" Ferguson is a Bright Trader.
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#8
02-21-2006, 11:03 PM
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Post deleted by Mat Sklansky
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#10
02-21-2006, 11:13 PM
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Post deleted by Mat Sklansky
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