I have done similar, donated blood every week, saved Starbucks money, collected change, mowed yards, etc as I built up my risk capital. I literally gave blood, sweat, and tears for my capital. But even with that as soon as the wire is sent, it is gone. It no longer exist, by some grace and patience it may come back in some form hopefully multiplied. If not, it is not a big loss and will not effect my family's livelihood.
The following user says Thank You to tturner86 for this post:
It's beyond my comprehension as to why anyone will look for a trading career at firms where so called trading firms
do not even have common sense to put a brief bio of it's founders.
I understand for majority of us ( including myself) getting just an interview at top tier firms has no chance for
various reasons. I would rather trade my own account ( with enough equity) vs wasting time with so called trading
firms.
Following is a recent posting from a top tier firm. No trading experience required.
" D. E. Shaw & Co., L.P. offers opportunities for individuals of all backgrounds who display evidence of
outstanding ability and have a track record of exceptional accomplishment.
Requirements:
- Strong quantitative and analytical abilities
- extraordinary communication, negotiation, and interpersonal skills and an exceptional sensitivity to
detail are essential.
- The ideal candidate will have up to two years' general experience with an outstanding academic record
(e.g., excellent standardized test scores and GPA from a top-tier school), and a high level of computer literacy.
- Direct prior experience is not required, but demonstrated interest in and exposure to financial
markets is a decided advantage.
The D. E. Shaw group is a global investment and technology development firm with more than 1,100
employees; approximately $21 billion in investment capital as of October 1, 2011; and offices in North America, Europe,
the Middle East, and Asia. Since its founding in 1988, the firm has earned an international reputation for financial
innovation, technological leadership, and an extraordinarily distinguished staff.
D. E. Shaw & Co., L.P.
1166 Avenue of the Americas
Ninth Floor
New York, NY 10036 Contact Information
212-478-0000
Another one of the best firms worth pursuing is First New York Securities
NOTE: Not posting bio of founders is just one of the many RED FLAGS. Charging retail comission from it's traders and making money of it's traders from the spread between what a frim is paying and and what it's charging it's
traders is a BIG NO and NO.
The following 2 users say Thank You to mfbreakout for this post:
These simple invigorating questions are good for catching mass participation. I guess it riles people up because most just traders struggle to stay profitable when they had no problem in sim.
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
Can you not come up with say $1000 then grow the account over time ? Then you might get an offer if you share your account on some sites, trade off your mobile phone while at work ? or outside of work hours ??
Paper trades have no fear or greed involved, I'm a cool headed paper making machine that until recently fell apart even at $1 per pip ( SAD ), so get some real $$ experience, Pro trade and huge $$'s per pip = SCAREY!!
Another reason to avoid these firms is that the so-called traders they want are nothing more than puppets mouthing what products their handlers tell them to TOUT.
They do NOT want people with trading experience because :
1. you may not agree with the products they want you to sell.
2. they don't want traders because they might have already "failures" at other firms.
they want slimely (IMHO) slick salesmen .... "Wolf on Wallstreet" types who take orders and can BS-Baffles-Brain (triple B approach) the suc...errrr client into parting with their money.
the suc...errrr client into parting with their money.