Friday, January 29, 2010

How Traders Can Attract the Attention of a Prop Firm

Well, I guess one way to try to attract the attention of a proprietary trading firm is to promote yourself as a psychic. At least that's what's recently crossed the desk of the good folks at Trading RM in Chicago.

(But wait, if he's really psychic, wouldn't he already *know* who is going to hire him??)

Anyway, for those interested in joining a proprietary trading firm, other strategies might be more useful:

* Show that you know and follow markets;

* Show that you've gained some trading experience in a personal account, even if you're trading very small;

* Show that you've gained some experience trading in a simulated mode;

* Show what you've learned and how you've learned it;

* Show the life experiences that make you who you are and will help make you successful as a trader;

* Show that you understand the firm you're applying for and how you see a good fit between you and them.

Joining a prop firm makes the most sense if you need access to capital and specialized trading technology/tools, want to learn from others (and share your learning with them), and if you are interested in trading strategies (automated trading, day trading options, trading order flow) not easily accessible to individual, independent traders.

For more on prop firms and whether they're right for you, check out the following posts:

* Evaluating Prop Firms

* Pitfalls to Avoid With Prop Firms

* Steps Toward Joining a Prop Firm