dgmodel Posted June 28 Report Share Posted June 28 So I'm finally making the jump from being a retail stockbroker to trading... and have an tremendous amount of interviews next week... Keep in mind Ive been a broker for a few years now so im knowledgeable on that end however for the trading end, what i know couldnt fill a thimble (or big poppa nils jockstrap lol j/k) so to prevent myself from looking like a complete and utter moron or getting myself involved in something over my head (since each firm has dif. rules/reg's charges and etc.) what are somethings i should ask about... what are some plus' a firm should have what are some bonus packages that should be offered, what do i get charged for, how do we make money together... etc... thanks for any all help in this matter... it is greatly appreciated... Good Luck, continued success and GodSpeed to all my fellow Wall Streeters...:NewYorkLove:dgmodel/marko Quote Link to comment Share on other sites More sharing options...
georgym Posted June 28 Report Share Posted June 28 Congratulations and Good Luck Im sorry i can't personally offer you any advice, for im more involved with the Legal realm. But im working for CDC-IXIS, a financial firm here on 57th steet, and some people have recommended the following sites (u might know them, but here ya go anyway):www.thevault.comwww.webfeet.comGiven the current market conditions, it seems like they might want you to know more about bonds and treasuries rather than volatile tech's and nasdaq. Quote Link to comment Share on other sites More sharing options...
highmay Posted June 28 Report Share Posted June 28 Hi, I'm DGModel. I'm a moron. Please shoot me. Bye! Quote Link to comment Share on other sites More sharing options...
dgmodel Posted June 28 Author Report Share Posted June 28 Originally posted by highmay Hi, I'm DGModel. I'm a moron. Please shoot me. Bye! round of applause ladies and gentlemen, for highmays words of encouragment and support... ttyl buddy... Quote Link to comment Share on other sites More sharing options...
peteypete79 Posted June 28 Report Share Posted June 28 What kind of trading firm are you working for? Daytrading or PCS? Quote Link to comment Share on other sites More sharing options...
dgmodel Posted June 28 Author Report Share Posted June 28 right now im not day-trading, im in PCS working as a retail broker... and as of next week will be looking to go into equity trading... Quote Link to comment Share on other sites More sharing options...
peteypete79 Posted June 28 Report Share Posted June 28 What firms are you looking at? Quote Link to comment Share on other sites More sharing options...
dgmodel Posted June 28 Author Report Share Posted June 28 im not applying to any BB firms mostly boutiques at the moment... since i dont have anything really to offer them therefore really dont have much negotiating power (plus I'm in the process of leaving one now and would like to see what others have to offer)... I am applying to some well known boutiques, hopefully they can offer me an extensive training program, sponsorship for the 55, and so forth then after a year so after ive built up a substantial trading accnt and knowledge then possibly look for greener pasteurs... do you have any suggestions? do you have any advice??? Quote Link to comment Share on other sites More sharing options...
peteypete79 Posted June 28 Report Share Posted June 28 Well I'm currently working at a daytrading firm but if you like money they definitely let you keep alot of what you make. You can get up to 95% of what you make. Quote Link to comment Share on other sites More sharing options...
dgmodel Posted June 29 Author Report Share Posted June 29 Originally posted by peteypete79 Well I'm currently working at a daytrading firm but if you like money they definitely let you keep alot of what you make. You can get up to 95% of what you make. what does this mean??? btw welcome to the board... glad you used your first post on one of my threads!!! Quote Link to comment Share on other sites More sharing options...
dgmodel Posted June 29 Author Report Share Posted June 29 Originally posted by calebmandrake I'm in the EXACT same position you are. Ive been a broker at a boutique firm for almost two years. I've recently started applying for trader trainee programs. There are many possibilites. You can trade for the firm,clients, and/or yourself. If you have a book, you will definitely have alot more bargaining power. Some boutique firms to look into.....Continental Broker DealerLadenburg ThalmannJP TurnerSans Bros.Again these are just a few to keep in mind. Its a whole new ballgame when it comes to trading. But I just couldnt deal with the cold calling and long hours anymore. Our traders leave at 4:00 p.m. Ahhh how great huh? Its a long drawn out process but its worth it in the long run. these firms let have traders there as well??? i thought they were just bucket shops (outside of sands their a prestigous chop) are you conemplating going there??? what are some places you applied to regarding trading and trading programs??? Quote Link to comment Share on other sites More sharing options...
tottallyoff Posted June 29 Report Share Posted June 29 Series 55. Thats what I got. 7, 24, 63, 8 and 6. on top of that. The main thing that you must remember is that it doesnt matter what firm you start your career as a trader. The only thing that matters is that you learn the right way first time around. Trying to change the style that you are used to after that is very tough. I know I am saying something very obvious but how would you know that you are getting the 'right education'. Well I am not sure I can help you there. Everyone situations is different. You will just have to play by ear. As far as the firm itself - make sure you are not starting at a chop shop trading place that has a desk and a phone that you use to call the clearing firm and check the account on ILX back office. You HAVE to start at the place that has at least a couple different trading departments (high grade fixed, retail equity, derivitives, etc) the more the better. Make sure you push for as much exposure to all departments so you can choose from the one that you feel most comformtable or the one that you like the best. What to ask on the interview? Ask the basic questions on the first interview - like mentoring programs, who they clear through, how many counterparties does one trader responcible, etc.... I think the questions like the payout ratio and vacation time do not have a place on the first interview. Of course I am not telling you not to ask that - see what the interviewr is like. Quote Link to comment Share on other sites More sharing options...
dgmodel Posted June 29 Author Report Share Posted June 29 thank you very much... Quote Link to comment Share on other sites More sharing options...
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