Hey Gang, would appreciate some honest advice about this career choice. I started offering trading advice on the SiliconInvestor site and became the most bookmarked there. I now post to FB: facebook 64628410663 SharckSoup com (Stock Traders) With over 10 years and not a single losing trade, I am wondering what else one needs to get noticed or a job offer in Canada? Appreciate any and all advice. Note, have sent out hundreds of CVs and trade for two members of the Dragon's Den, but still not a single reply or interview. I would consider an unpaid internship to get my foot in the door.
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the issue is that Canadian banks don't do a ton of prop trading and it tends to be fairly structured and they pretty much exclusively hire quants nowadays. I don't have data points for all the big banks so maybe someone else can chime in, but for those I know well, they don't have any equity prop traders. Then there's not a lot of proper prop trading shops or hedge funds so I am not sure who you could target
Have you ever looked into Chicago?
I also teach prop trading, taught a few classes in Chicago and NYC. Am a Canadian citizen and no green card so it's harder to get offers there. I have sent hundreds of cv's to the C Banks over the years, perhaps my age is now becoming a factor there. I also lack any good contacts which may be an issue too.
if you have such good trading ideas and signals...why aren't you just trading them in your own personal account with all your life savings?
Of course I do that W2T. Fun fact, but I started the original blog w Mike Burry, (Dr. Mike from the Big Short fame) and ever since he got picked up by a hedge fund, I have been waiting my turn. I was also a much better trader than he was. Just trying to understand why I am being consistently overlooked. I feel I have given this industry my life, not that it owes me anything, but would be nice to know why. Plus I'm bored and just want to join a team. I have considered starting my own group but haven't found any good traders here in Toronto.
ok, you say you are trading your own money...what markets do you trade?
Come see for yourself. Every trade is posted and time stamped. Very first trade recommendation over 10 years ago was small relatively unknown company called Apple.
Wait, are you telling me Apple was small and unknown way back in 2008?
10 years and not a single losing trade? I smell bullshit.
Its actually more like 15 years, but the first 5 you would have to go back to "theSiliconInvestor". First, I don't care what you believe, you can simply go to the blog and see for yourself. (I also trade for a few high net worth clients and if I were fibbing, they certainly would say so, as they are also my references). Plus, I have no problem showing my PnL/track record to any potential employers. That been said, I posted this blog here to answer the question why w a perfect track record, am I not successfully getting noticed. There are over 250 traders on my blog, but none have been forthcoming as to my dilemma. It may simply be a matter of nepotism or perhaps age is now becoming a factor, though I am certainly not old. Just searching for an answer, and of course, an offer would be nice too.
If you said, not a single losing DAY, I JUST might believe that. I mean I know a guy at a prop firm in NYC who only had like 3 losing days in a year. But not a single losing trade? Now that's unbelievable. I have losing trades today but I'm up... I have losing trades every day... Mind if I see your track record and what product and asset class do you trade?
Why not simply go over to FB and check out the blog, it will answer all your questions. Simply go to Facebook and search on SharckSoup (stocktraders). This forum is not allowing me to link the blog. By the way, I will certainly show you my trades if you are an employer looking for traders/portfolio managers/assistants etc... Again, I feel like a broken record but I am not trying to convince you of my track record, (unless you are offering a job) but rather after such a track record over said 15 year period, why am I not successful at getting a single interview or response. Is it that hard out there for traders?
There are prop firms which allows you to work from home like ronin, hehmeyer, bluefin and etc... of course, they won't just toss capital to just anyone.
Thank you woon, I would gladly talk w them. While I am not familiar w those names, the ones I am, will not take Canadians. Even the guys at T3 in NYC where I taught some HFC guys, won't (or can't) give me an account. Do you know if those guys take on any Canadian traders?
SMBFutures.com will take you...you'll need to pass their tryout first (make 5k profit with 1k daily max drawdown, 3k max total drawdown). Only trading futures tho.
I really don't have much interest trading e-minis, too much of a crap shoot IMO, but thanks for the suggestion. Wonder why any company would trade the most risky types of securities and not the underlying index or stocks/etfs.
not just eminis....treasury bonds, crude oil, gold, currency futures, ags, ect...
they also have an equity trading operation...but they are daytraders...not long term investors...you must be flat at the end of every day.
Thanks, will send them an application. If you checked out my blog, you'll notice that my services is really geared to the hedge fund and portfolio management industry (swing and sector rotations). And while I appreciate and understand the risk management side of the prop trading business, I made a lot more money swing trading. Most stocks that are moving up quickly back in the day, Apple, JDSU, Google etc... would gap up over 5 to 10 pts in the AM. The prop trading guys would get killed trying to play them, mean while all we had to do was sell half our positions each morning, and hit the golf course. Trade Smart was my tag line.
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