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Working In The Financial Industry

  • #1
  • First Post: Mar 29, 2006 5:11pm Mar 29, 2006 5:11pm
HELLO

my name is Jason, student in UBC and as a part time job i trade 2 mini forex accounts(not all mine) which i get a cut of the profit (%)monthly........... I love trading, it works great for me...... i open\close positions once 15-30 days...... but i just get enough income for my basic needs … what can you suggest for me to look in the future for as of what tools do I need in order to work maybe for a big corp. or financial firm to trade for them (or risk their money), to make a stable income +maybe bonus for performance??? I guess im not really sure how does it work ....but anybody with the right knowledge should be able to help me on this site for SURE


i hope to get the answer that im looking for(or would suite me)

but I would really appreciate just any comments



J
  • #2
  • Mar 29, 2006 5:54pm Mar 29, 2006 5:54pm
FXCM have a cadetship style of thing where they will let you trade their money. Check that out at www.fxcm.com


Simon
  • #3
  • Mar 29, 2006 6:09pm Mar 29, 2006 6:09pm
you could be a prop trader, where you trade for a firm, usually with a mix of yours and their money. sort of like the FXCM program mentioned above. you can grind out a good living via scalping and it can lead to much bigger things for you. good luck!
Relax and be happy.
  • #4
  • Edited 7:19pm Mar 29, 2006 7:10pm | Edited 7:19pm
thanks for the INFO but
i tried to look for the type of thing u guys mensioned although i could not find it... are you sure its possible to do it with a mini account with fxcm????
  • #5
  • Mar 30, 2006 7:09am Mar 30, 2006 7:09am
Try here for the FXCM thing I was talking about:

http://www.propfx.com/traders.html

Simon
  • #6
  • Mar 30, 2006 7:47am Mar 30, 2006 7:47am
Does anyone have any experience working as a FX prop trader that could give some kind of feedback or personal opinions on the field, such as requirements (I guess the typical history record of 6 months profitably trading live?), overall experience, etc.
  • #7
  • Mar 31, 2006 7:04pm Mar 31, 2006 7:04pm
Quoting booob
HELLO

my name is Jason, student in UBC and as a part time job i trade 2 mini forex accounts(not all mine) which i get a cut of the profit (%)monthly........... I love trading, it works great for me...... i open\close positions once 15-30 days...... but i just get enough income for my basic needs … what can you suggest for me to look in the future for as of what tools do I need in order to work maybe for a big corp. or financial firm to trade for them (or risk their money), to make a stable income +maybe bonus for performance??? I guess im not really sure how does it work ....but anybody with the right knowledge should be able to help me on this site for SURE


i hope to get the answer that im looking for(or would suite me)

but I would really appreciate just any comments

J

I think you need to explore the fund management and/or portfolio management world....I don't know how it works in the US, but I think that having a CFA is a major plus, although usually firms working in the financial industry are interested more in money and how you can make gains instead of certificates or degrees...

Here in Egypt, all it takes is an employer who would be convinced with your abilities to make money through their funds, and that's it....It is much easier here in Egypt because the industry itself is very very young and people are not aware of many financial instruments and their risks vs their rewards...They barely understand stocks, so if you have good knowledge about stocks, bonds, options, futures & currencies, you are a superman...


Thanks,

Nader
  • #8
  • Apr 1, 2006 5:00am Apr 1, 2006 5:00am
Quoting DrRock
Try here for the FXCM thing I was talking about:

http://www.propfx.com/traders.html

Simon
Fascinating information! Has anyone on this fourum every participated in such a program? What was their experience?
Profitsee - Knowing the future is not enough.
  • #9
  • Apr 1, 2006 5:07am Apr 1, 2006 5:07am
Quoting narafa
I think you need to explore the fund management and/or portfolio management world....I don't know how it works in the US, but I think that having a CFA is a major plus, although usually firms working in the financial industry are interested more in money and how you can make gains instead of certificates or degrees...

Here in Egypt, all it takes is an employer who would be convinced with your abilities to make money through their funds, and that's it....It is much easier here in Egypt because the industry itself is very very young and people are not aware of many financial instruments and their risks vs their rewards...They barely understand stocks, so if you have good knowledge about stocks, bonds, options, futures & currencies, you are a superman...


Thanks,

Nader
Nadar, very insightful observation. I think I'm going! Here in the US there's so much career/resume corporate mumbo-jumbo b.s. that you need a CFA just to fry an egg!

I've been trading the EUR/USD <--> USD/CHF negative corro with decent sucess in a mini account. Large drawdowns, but less whipsaws
Profitsee - Knowing the future is not enough.
  • #10
  • Apr 1, 2006 9:34am Apr 1, 2006 9:34am
Quote
my name is Jason, student in UBC and as a part time job i trade 2 mini forex accounts(not all mine) which i get a cut of the profit (%)monthly........... I love trading, it works great for me...... i open\close positions once 15-30 days...... but i just get enough income for my basic needs … what can you suggest for me to look in the future for as of what tools do I need in order to work maybe for a big corp. or financial firm to trade for them (or risk their money), to make a stable income +maybe bonus for performance??? I guess im not really sure how does it work ....but anybody with the right knowledge should be able to help me on this site for SURE


This might be off base but why would you want to trade for someone else? That is unless they are going to mentor you. If your sucessful trading your own acount then be your own man. If you need capitol, get a job. If your a sucessful trader your bonous should be your preformance. You'll be much happier in the long run. IMO
I work for a big corporation. I don't suggest it. Not in this industry.

Dam the Man!!!!
  • #11
  • Apr 1, 2006 10:05am Apr 1, 2006 10:05am
Quoting booob
HELLO

my name is Jason, student in UBC and as a part time job i trade 2 mini forex accounts(not all mine) which i get a cut of the profit (%)monthly........... I love trading, it works great for me...... i open\close positions once 15-30 days...... but i just get enough income for my basic needs … what can you suggest for me to look in the future for as of what tools do I need in order to work maybe for a big corp. or financial firm to trade for them (or risk their money), to make a stable income +maybe bonus for performance??? I guess im not really sure how does it work ....but anybody with the right knowledge should be able to help me on this site for SURE


i hope to get the answer that im looking for(or would suite me)

but I would really appreciate just any comments



J
Hey, nice to hear that you are going to manage someone's fund, but be careful. I have experienced what the hell is that, when you trade under fear and preasure. Make sure what kind of person is the fund's owner and then make up your mind independently.
You'd better define all risks with fund owner and know how much loss he can allow. Every postulate should be defined and formulated before starting trading.
Currently I trade two accounts which are not mine, but the owner is great person and I made more money on those account than on my account.
kiss the trend
  • #12
  • Last Post: Apr 1, 2006 12:15pm Apr 1, 2006 12:15pm
Quoting nutmg12
Quote
my name is Jason, student in UBC and as a part time job i trade 2 mini forex accounts(not all mine) which i get a cut of the profit (%)monthly........... I love trading, it works great for me...... i open\close positions once 15-30 days...... but i just get enough income for my basic needs … what can you suggest for me to look in the future for as of what tools do I need in order to work maybe for a big corp. or financial firm to trade for them (or risk their money), to make a stable income +maybe bonus for performance??? I guess im not really sure how does it work ....but anybody with the right knowledge should be able to help me on this site for SURE


This might be off base but why would you want to trade for someone else? That is unless they are going to mentor you. If your sucessful trading your own acount then be your own man. If you need capitol, get a job. If your a sucessful trader your bonous should be your preformance. You'll be much happier in the long run. IMO
I work for a big corporation. I don't suggest it. Not in this industry.

Dam the Man!!!!
I feel trading is a full time job. You cant juggle between daytime job and trade in your free time. If one wants to make money from the market, he has to give his full time and effort in it.

Even I have the skills and knowledge to make money from this market, but no money to invest in it.

This month on Demo I made 3000+ with 2000 USD initial investment. Last month it was 2700 USD profit.

Will someone lend me 2000 USD?
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