[QUOTE=“PipMeHappy;742439”]…and heard back today: I have not been selected for an interview. The job description at the level for which I applied did not specify any actual experience of trading packages or financial/corporate work, so I tried and…failed. My message is: you have to start somewhere! I was trying to see if what I have achieved (writing articles, curating my Forex YouTube channel, trading my own account) would be enough in the eyes of a company like the one I chose in this instance… It is important to put oneself to the test against the high standards set by professionals, and that is one of the reasons why, without ever having worked in finance, I pushed myself to do this. Where do I go from here? Well, HR fedback is never too specific, and I expect there may have been hundreds or thousands of applications for each of those two positions: this gives the employer rich pickings, so you may have good potential but it is unlikely that there will be no other applicant with the same potential as you, if not double that. Has anyone else applied for an analyst/entry-level position recently, in a bank or institution, and how did you get on?[/QUOTE]
My mentor (Tim Morge) gave me two pieces of advice. 1. I should have 18 months of positive trading. 2. Don’t work for or manage other people’s money.
Tim Morge, I’m baffled. Did a quick google on the guy: beside charging tens of thousands $$ for mentoring, does this guy actually trade? Does he have any trading records from his 40yrs claimed trading experience ?
Don’t manage other people’s money is an idiotic piece of advice: we wouldn’t have heard of the great traders and investors of today, from Soros to Buffett if they had followed such nonsense advice.
[QUOTE=“MrBurger;742910”]Tim Morge, I’m baffled. Did a quick google on the guy: beside charging tens of thousands $$ for mentoring, does this guy actually trade? Does he have any trading records from his 40yrs claimed trading experience ? Don’t manage other people’s money is an idiotic piece of advice: we wouldn’t have heard of the great traders and investors of today, from Soros to Buffett if they had followed such nonsense advice.[/QUOTE]
I work on the institutional side - here’s a few points on how it works …
Investment banks hire graduates out of university (typically from the top tier) - finance background are by no means preferre or necessarily advantageous. Generally, they prefer a smart blank slate which can be morphed into an appropriate mould. A s oppose to a someone with preconceived ideas (be they correct or incorrect) which must be broken down and challenged
funds hire a number of the people from these graduate schemes (they simply don’t have the resources or interest to do it themselves). The remaining bank cohort go on to fill the more senior position, alongside other candidates poached from other banks.
For front office roles, that’s the General mould. There are of course exceptions to every rule, but in my experience, they are few and far between.
Another point to note - trading for a bank and tradong as an individual are not comparable, they are entirely different jobs. “Prop trading” barely exists anymore, mainly due to regulatory pressure. Trading for a bank is more about structuring appropriate positions and hedges for your clients, and requires an in depth knowledge of economics rather than charts (banks are market makers - so charts aren’t really even a factor to be honest)
Anyway - that’s quite a ramble, but my point is, figure out exactly why you want to work for a bank because it’s pretty much nothing to do with day trading, and day trading experience will likely hinder rather than help your chances.
If you are somewhat successful at trading, why ever consider your talents to a corruptional institution such as jp.
You are successful at trading, hold it within yourself…no need to be collared.
As far eddieb goes, your hiding your location…I have nothing to do with you, sir.
What does my location (Europe currently) have to do with anything?
Interesting you think JP Morgan are corrupt, can you back that up, or is this just another garbage post by you?
