As a trader who went through the SMB College Training Program previously, and was subsequently hired to trade on the desk in their NYC office, I wanted to write a blog post to answer some questions I’ve received lately.
I should also mention that I now head up the College Training Program and it is my sincere hope that I can give aspiring traders some insight into what type of candidates firms look for and what they can do to better prepare themselves for applying to such firms.
The number one question I get asked most frequently is: “How do I get hired on the Desk?” While there is no simple or singular answer, one of the first things that I will inquire about is whether the person is currently trading, and if so, what products, instruments, or securities they are trading and in what style.
I start there because nothing speaks louder than LIVE trading results. If they are not currently and actively trading (although even part-time is definitely okay), I advise them that if they are looking to get hired on a Desk, the sooner they start trading the better.
The next thing I might ask is if they are prepared to endure the learning curve that is required to become a successful trader. Some traders catch on quickly and learn in a matter of months . . . others can take up to a year or more . . . and then, even longer to become really good.
My own personal experience mirrors this . . . I began trading during my sophomore year of college and have been trading ever since. I started out trading Currencies and then quickly switched over to U.S. Equities. While contacting firms that I might apply to after I graduated, I learned that most, if not all, were interesting in seeing LIVE trading results.
With this in mind, I sought some additional training and assistance, both to improve my current trading and also to add some substance to my resume and future applications and inquiries to trading firms. During this process, I came across SMB and their College Training Program and things could not have worked out better. After graduating, I was hired to trade on their desk in NYC.
If you are a College Student thinking of applying for a firm, ask yourself the following questions:
- What makes YOU stand out from the thousands of other applicants? In my opinion, this is one of the most important aspects to think about when trying to get hired on a desk. They have thousands of HIGHLY qualified applicants. What sets you apart from the rest?
- Have you traded LIVE? Paper trading and/or demo accounts are good but not the same as LIVE. Demo (or simulated) trading is good to learn some trading basics and get yourself ready to follow the data, info, charts, etc. on the screen; but the emotional and psychological aspects are not even close to the real thing. Also, on a demo account, you can get prints you would never see in live trading that can give a false sense of achievement. In short, don’t talk about your demo trading results. Try your best to find a way to trade live.
- Are you dedicated enough to make it through the learning curve? One of the biggest questions you need to ask yourself before plunging into the life of a trader, is do you really love trading? Are you passionate enough about it to stick through the rough patches and especially through the early portions of the learning curve? Are you motivated enough to work hard every day and work to learn and improve every day?
If you think you have what it takes, that’s awesome! Our desk is always looking for talented individuals with trading experience. If not, check out our College Trader Summer Program. It’s a 5 week in-house program (offered on the trading desk in NYC and also by remote/distant learning) that offers a firsthand look at the world of professional trading.
There are two different classes, one is SMBU’s Foundation Program which focuses on U.S. Equities exclusively; the second is SMBU’s Rotation Program, where students get to experience and learn a variety of products: Equities, Futures, Options & Systems (Automated) Trading.
Chris
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