> How to get a job a proprietary trader?

How to get a job a proprietary trader?

Posted at: 2014-12-05 
Proprietary traders ARE NOT hired unless they have at least ten years experience as either a trader or at the least working in that part of the industry that deals with trades - such as P&S, Fails, CNS clearing, And more importantly have many trading contacts from the street.

Have a good working knowledge of the various markets, and the products traded in those markets. Understand trading and all the terminology used in trading, including the clearing of the trades.

All traders have the same make-up, they have above average intelligence, good a math, out going personalities and most important they're not wrapped to tight.

By the wording of your question, you're not a trader nor do you have any experience.

To be a trader you must first learn how to invest. You must know the products and the markets in which they trade, how security transactions are cleared and more importantly you must know the rules that govern those products and markets. So you must know what you’re doing, why you’re doing it, and how to do it. You should start by reading “Investing for Dummies” by Eric Tyson.

Here’s a list of books you should consider, at least read half of them

Bulls Make Money, Bears Make Money, Pigs Get Slaughtered, by Gallea

How to Trade in Stocks, Jesse Livermore

Millionaire Traders, Lein & Schlosberg

One Up on Wall Street by Peter Lynch

Reminiscences of a Stock Operator, Edwin Lefevre

The Disciplined Trader, Mark Douglas

Trader Vic-Methods of a Wall Street Master, Victor Sperandeo

Trader Vic II-Principles of Professional Speculation, Victor Sperandeo

Trading for a Living, by Alexander Elder

Trading in the Zone, Mark Douglas

Before you even think about looklng for a job in trading you must have written trading plans and your policies & procedures

1 - You need a written sound trading/investment plan with rules that will not only help you but more importantly protect you, mostly from yourself. Always use stops either to protect you on the down side or to lock in profits on the up side. Never trade on emotions, when emotions get involved walk away. Don’t try to out-smart the market, you’ll loose but if you always take what the market is willing to give you, you’ll be successful. Other words, you don’t trade against the trend since the market is always right. And NEVER trade on emotions, once you let emotions in your trades you will loose

2 - A written money management program is essential. Remember never invest 100% of your capital into any one security and never have 100% of your capital invested. Never go into a trade without knowing when and where you are going to get out of it. Never let a loss on a trade get greater than 8%-10%, always take you loss and walk away - don't loose more than you need to and don't be afraid to take the loss. Remember you never can get hurt taking a profit. Never average down, but you can average up.

3 - You must have sufficient trading/investment capital. Use your own money, there’s no need to go into debt so that you can trade and/or invest. Margin can be used but only with restraints, never let the account wall below 45% equity. Unless you fully understand margins you should not use it.

4 – A full and complete understanding of the rules & regulations of the industry. If your going to play in the game be sure you know the rules of the game and always follow them.



Unless you are willing to study and follow the above you will never make it as a trader. To be successful as a trader it takes work and constant study of the markets and the products traded in those markets, there is no easy way.

Apply if you have a degree related to that?