any securities traders in here?

ndlarryj

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Jan 30, 2003
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given that many who trade fixed income / commodities / futures / options / etc., also like to gamble, was wondering if anyone in here makes a living off of trading?

Looking for a career mentor or two in chicago; would love to hear from anybody. Thanks.
 

ndlarryj

Registered User
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Jan 30, 2003
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doughboy,

you had replied in the general forum. You're a securities broker, ehh? Being completely foreign to the industry I'm not quite sure what that means. Sounds a bit different from what I would like to get into - trading anything at proprietary firm with their capital.. it seems to me that some firms do recruit recent college graduates to become 'trainee traders'. I suppose in this instance you're on salary for a bit, until you make the firm money and start to profit-share. Any thoughts on what to expect if I choose to explore this route, especially re. pay and length of time I could expect to move up the ladder?

Very vague, i know, but any insight would be appreciated. Thanks.
 

Doughboy

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Jan 2, 2001
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Austin,TX
Larry,

Do me a favor and get my e-mail from Jack so we can talk more at length, but yes there are some firms that will let you trade with their money, if that is what you are asking. A guy in my office did that at one point. I however am at a private firm where I have worked at building a book of clients for the last couple of years. Cold calling and such is how I did it. The most important thing right now for you is to get licensed. Series 7, and Series 66, and insurance are what you need. Some firms will pay you a better salary to start, but commission sucks. I started with no salary and better payout, Was brutal, but had wifes paycheck and am now just finally starting to do well. Greatest business in the world in my eyes and would never want to do anything else.
Shoot me an e-mail sometime if you want advice or have questions. Also might be able to give you a contact in Chicago at some point if you like. It is gonna be tough to go the route you are talking about, and am not as familiar with that career as the one i am taking.
 
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