Monday, 13 May 2013

Trainee Trader Interview At Prop Trading Firm

Today, I went for an interview with a prop trading firm dealing in futures contract. To be precise, their main sources of revenue generation is split into 2 components: trading and investing. Their trading gains are used to invest in stocks and shares of companies. At the end of the day, I was offered a trainee trader position at their firm for less than $1,000 per month plus a certain percentage of the profits once I start raking in trading profits.

To begin with, I will run through the interview process with my readers and hopefully, you guys will be able to benefit from this post.

The main interview revolves whether with my limited schedule (as I am still a full time undergraduate student), will be able to cope with the rigour of the program. They are after all, looking for long term traders and not one who just stay with them for a few months, learn from them and walk off.

These are the few major questions that I remembered from the interview and they are listed in no order as I will just type whatever I remembered from the interview.

Managing Director: Do you know what our company deals with?

Me: (Attempted to persuade the MD that I knew even though I really have no idea)

MD: Do you know what makes a good trader? (went on to explain key characteristics of a trader)

MD: How do you know you want to be a trader?

MD: What do you know about trading?

MD: Do you know that trading can be a very boring job?

There were some more questions but some response made by me I think, struck a chord with the MD.

Me: I understand that there is many things I do not yet know about trading, but after trying out so many jobs, I know trading is for me. I mean, I can stay up until 2-3am day after day just looking at charts and seeing how all the dots connect and how the market moves.

Me: I am just amazed at how markets are completely random. Traders are constantly trying to predict movements of the market, but there are times when it just will not play out the way they want it to. And for me, I want to be a trader that wins most of the time.

MD: Are you sure you want to be a trader?

Me: Yes (without hesitation).

To be very clear here, there were close to zero technical questions that tested my knowledge of the financial markets. Rather, they were looking for someone with passion and I just exuded passion. I mean, before that, I was cold calling them for 3 times before they accepted to see me. Once there, I told them how badly I wanted to be a trader. I also told them how trading is my career aspiration and how I see myself doing it for the rest of my life. I meant every word I said, which should be evident right now as I started this blog for the exact same reasons. They set stringent requirements before giving you a life account to trade as well.

My only concerns with this job is that I might not be able to handle the schedule very well. I did not want to make empty promises and find myself in a hole and aggravating the MD and maybe forever sealing my path to financial greatness yet at the same time, it is simply too good an opportunity to pass up. The thing is, my university curriculum is not yet fixed and hence, as a hedge against this issue, I have actually set up an appointment with my school counsellor tomorrow. She is the one most knowledgeable about class schedules and all that.

I really hope that I will be able to commit to this job well. Watch me grow my readers.

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