Want to be trader

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12/25/13
Messages
92
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18
Hello !!!!
Any help would be highly appreciated:
I have been trading my own account and doing pretty decent. As a profession, I am an engineer, but I want to be a trader.

When I am asked why I want to be a trader? I am not sure how I compose my answer to impress interviewer.

Thank you.
 
Hello !!!!
Any help would be highly appreciated:
I have been trading my own account and doing pretty decent. As a profession, I am an engineer, but I want to be a trader.

When I am asked why I want to be a trader? I am not sure how I compose my answer to impress interviewer.

Thank you.
Stick to what you do well. No suggestion from members here will impress your interviewers.
Looks like you are doing it for the wrong reasons.
 
Interviewers can smell BS from a mile away. Don't repeat some answer someone on QN tells you verbatim. Be honest. If it is your passion, say so.
 
Thank you!! Yes!!! It is now my passion. I started trading option, and I am hooked now. I love this game, but that is not enough to impress the interviewer.
 
Stick to what you do well. No suggestion from members here will impress your interviewers.
Looks like you are doing it for the wrong reasons.

I'm not sure there's a wrong reason to want to be a trader. You should have a genuine interest in markets, and ideally it's a particular interest in the market and product set that the job you're applying for deals with. The challenge is, of course, it's difficult to have especially specific interests before you have experience in the market to begin with. What you absolutely need is a strong desire to learn and to continuously improve.

Every trader is there to make money. When I was applying for jobs, I was told to never talk about my desire to earn a proper income when asked why I want to be a trader. In hindsight, I think that advice was a bit unfair. After all, the trading floor is a hyper-competitive atmosphere in which your success is measured by your share of a finite bonus pool. A wrong answer would be one that is only about money, without addressing any of the stuff from the paragraph above. But on the other hand, for a guy leaving another industry to work as a trader, I would argue that it makes sense to mention you believe you could be more successful as a trader - but that implies there must be some reason why you would be a successful trader.

All that said, what I think Michelle is saying is that there doesn't seem to be any logical step from "I've been pretty decent at trading my own account" to "I want to leave my career and start a new one as a trader". That sounds like a pretty risky proposition. You should think about what the path looks like if you're ultimately successful. No firm is going to snatch you up and on day 1 give you a large pool of capital and a cut of any upside you produce. If you do get a job, it will be a junior role, and you will spend 5-10 years paying your dues and proving yourself before someone is willing to give you an allocation - and that's if you're really good (which is a big if). In order to stomach that road to success, bearing in mind you're talking about leaving an existing career, you need to be honest with yourself that you (1) are really interested in the markets, and (2) have potential to be better than other people who are also interested in the markets. I don't know how you've made your money so far, and maybe it's from being legitimately clever and skillful, but I would caution you to recognize that the game has likely been rigged in your favor for the past few years by the easing biases of a bunch of central banks (e.g. the Fed's QE program and zero interest rate policy) - the intention has been to create a wealth effect for holders of risky assets like equities and real estate. So it's been a great market for a while to just buy stocks, or at least be net long stocks. Anyway, like I said, maybe you're actually really good, but just pointing this out since you're considering quitting your job.
 
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Thank you!! Yes!!! It is now my passion. I started trading option, and I am hooked now. I love this game, but that is not enough to impress the interviewer.
:)

Obviously don't just say "trading is my passion". Explain WHY. "I enjoy ... about my trading activities..."
 
if you do get into an interview, pls do prepare the following answers to these simple questions:

1. what are your entry signals (what kind of strategies you use to enter trades) ?
2. what are your exit signals (how to you determine when to exit a trade) ?
3. how do you implement risk control measures (some form of hedging strategies) ?

the last thing they want is a trader going rogue and blowing up their accounts.
 
When you say you are hooked....Does that mean you're a day trader? I sincerely hope you didn't just day trade for less than a month, get hooked on easy market policies, and a good year, and now think you are a trader. Being a trader means going through good times and bad.everyone can make money in good times. But what separates professional traders from others is that professional traders know how to weather the bad times. That's what they will be looking for on an interview.
 
Thank you @wayoung !!!I am a swing trader(hold 2 to 5 days), but love to day trade though. I started trading when I was in school, but lost almost everything before even I graduated from school, took a yaer off to build capital again. I now have been doing pretty good for a years.

PS: I happen to talk to few MFE students. They all wanted to be a trader!!!! Is that the norm? you do MFE because u wanted to be a trader!!!!!!
 
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