Becoming a securities/proprietary trader

Bob_sapp said: "There is a securities firm in my city hiring proprietary traders, and they say they train etc. and no specific requirements are needed for the job, but a financial/econ degree is an asset. I am interested in this but have not done any day trading, most investing and some swing trades. What would be needed to go into a profession like this and be successful? Anyone know what the job would be like? I get the impression that if I really wanted a job like this, I would need to have a lot of experience doing profitable day trading on my own time and money, and be able to back this up with financial statements to show my potential employer. Thoughts/discuss?"

ratAphooey said: "I believe you need a [url=http://webmasters-heaven/]series 7[/url] license."

prohobo said: "[QUOTE=Bob_sapp;68968]There is a securities firm in my city hiring proprietary traders, and they say they train etc. and no specific requirements are needed for the job, but a financial/econ degree is an asset. I am interested in this but have not done any day trading, most investing and some swing trades. What would be needed to go into a profession like this and be successful? Anyone know what the job would be like? I get the impression that if I really wanted a job like this, I would need to have a lot of experience doing profitable day trading on my own time and money, and be able to back this up with financial statements to show my potential employer. Thoughts/discuss?[/QUOTE] I am in the business - if you want to send me a PM, I will explain everything there is to know about it - taxes, execution, commission, margins, interest rates...etc. remember - this is a business not a hobby. I would say that only 1 out of 5 traders make it. Usually the ones that have a system, risk management, understanding of how it works, know how pricing works, etc are the ones that make it. Just send me a PM if you want some inside-baseball. Note: I am not a prop-shop - but I do know of them and know some people that run them. Our firm actually hired a guy out of a prop-shop a couple of years ago."