How to get a proprietary trading company to hire you as a merchant

If you want to become a trader, you might be thinking, “How do I get started, no experience?”

However, if you really want to become an accessories dealer, it is not difficult to get hands-on experience. Anyone can open an account and start trading, and you can too.

There are many applicants who go to business company interviews and think they can simply rely on their math skills; However, they’re not likely to get an offer, and that’s because it’s a bit like going to Hollywood, walking up to a Hollywood agent and saying, “I’m handsome and I’d like to star in movies right now, please.”

If you have not acted before, even in amateur productions, if you have not read acting books or theater magazines, have not gone to auditions, have applied to be a member of a theater, have been chosen for productions, even in student films or on stage, you won’t be able to act. Similarly, if you haven’t focused on learning how to trade, learning the process, finding out what works, gaining real market experience, opening an account, and trying to trade, you won’t be successful as a trader either.

Proprietary business companies expect a lot from their applicants, for a reason. They can. Thousands of people would die for the opportunity to become traders, and for every business vacancy, there are at least 500 to 1000 applicants who want the opportunity to trade. My experience has been that a single ad for a business position posted on EFinancialCareers has garnered so many resumes that they fill an entire filing drawer each time the ad is posted, on a quarterly basis. In other words, you have great competition when you apply to be a trader.

However, you don’t need to be a math Ph.D. or a programming master if you want to become a truly successful operator. A business company is not going to spend a lot of time examining your qualifications as long as there is a realistic expectation that you will make a lot of money.

A good trading company is going to overlook any lack of v, if it has been consistently successful for 6 to 12 months and is confident in its trading ability, AND it has brokerage account statements to back this up, it is a good bet. prop firm will take you seriously and give you a chance. You don’t necessarily need to have made a lot of money, you just need to show that you have taken practical steps and that you have a certain determination to differentiate yourself from the rest. If this sounds like you and you want it bad enough, start reaching out to prop companies. There is a link to a directory of proprietary business forms that you can contact at the links at the end of this article.

2. If you want a job as a prop dealer but have no experience, get one. Get involved and start learning to trade yourself; These days, you can learn just about anything. Study the free accessories trade training program linked at the end of this article and start learning. Open an account with a broker, be it a margin betting account, options, futures or forex. So, start trading! You can easily open an account these days and you don’t need a fortune to do so. Even if you totally fail when you start, you are trying and watching the market prices move. In a very short period of time, you can begin to LEARN, first-hand, what traders face on a daily basis. You will learn about technical analysis, fundamental analysis, emotional factors, loss, success, greed, and fear. In the worst case, you will lose some money, but you will also gain some valuable real life experience that you can show others, and it will appear that you are INTERESTED in trading. So now, imagine that you are in the hiring officer position at the prop company. The candidate in front of you starts talking enthusiastically about your keen interest in financial markets when asked why you want to be a trader, but you have no real trading experience. What would you do as a recruiter? “You have never bothered to try to change something yourself, but do you want a job here?”

3. Read about the markets. Two great books to read before going to your first interview, at a minimum, are “Market Wizards” and Reminiscences of a Stock Operator. “You won’t become a super trader by reading these books, but you will get an idea of ​​what this job is like, how difficult it can be, how hard you have to work, and how things can go wrong despite your efforts – these two books They are also among the most popular trade books available, so if you want to appear interested as a trader, you will have to read them.

4. Read the FT or the Wall Street Journal to keep up with what’s going on in the world of business and finance. Formulate an opinion. You may be wrong, but don’t worry about it. The best traders are often wrong. At one point, I heard someone apply for a position as a FTSE trader; He was asked what he thought the soy would do. What does that have to do with the FTSE? Not much, but most companies will want to know that you know what’s going on in the world and how it correlates to your market. Today, the United States is more interested in boosting the economy than fighting inflation. What does that mean for interest rates? If interest rates go down, what will happen to the bonds? What is the country’s currency doing? How could this affect commodity prices? Now imagine a contracting officer asking you something like: “If a commodity like oil rises, what happens to indices in Europe, like the DAX or the FTSE?” While a candidate might respond something like: “Inflation is bad for the economy, with higher prices that reduce profits; lower profits mean that investors are going to sell stocks and European markets are going to summarily fall”. At the same time, a second candidate responds: “Inflation is bad for the economy, it is true, and higher prices mean less profit for companies, which means that investors are going to sell shares and European markets will be affected. negatively and they will fall. ” , oil companies are an important component of the FTSE, and since oil profits are going to go up, that may mean that the FTSE will be less negatively affected than the DAX. “Which candidate has the best answer?

5. Take care of basic math skills and review them, and also work on your general mental agility. Although math may not be as important to direct trading (directional trading), you will still have to take aptitude tests at accessory companies to get the job. Business-given math and aptitude tests don’t just exist to measure your math ability. They also exist to see how you react under pressure. Do you stay calm or do you break down? If you still don’t know how to do it, brush up on mental arithmetic; add, subtract, multiply and divide for long numbers and be able to do them quickly. If necessary, buy a couple of math books and work on them, plus get a copy of the book “Blink: The Power of Thinking Without Thinking.” With that said, remember that if you don’t pass the math aptitude tests, the first point at the top of the list above will get you into a business regardless.