fantastic post!

oromis Says

apart from ap corona and jaypee as mentioned in this threat, what are the other prop trading firms similar to FF in india?

see here: List of Proprietary Trading Firms in India

traderguy Says

Anyway I have given up all these "making millions" dream.. I am concentrating on a career where I might be able to land up in a role of doing investments in businesses, raise funds etc .

See, I have not made tons of money yet, and consider myself only average guy in intelligence or talent.

I just want to say there are lot of subsets/profile related to trading, and GHF in itself has nothing to do about breaking someone's career.

Hello,

I think you are misguided and will try to point two things.

First, anybody who thinks of trading as a job is doing a big mistake. It's more of a business. Investment research and trading are not separate domains. If you want to be in fund management, you'll need a grip over both. I've even seen institutional sales trader starting their own fund by registering as CTA. If your approach is professional there are a lot of exciting things around trading and it is very unlikely you will endanger your career.

I started a separate thread on this http://www.pagalguy.com/forum/career-discussions/55251-career-in-investment-research-trading.html The whole thing is about making a career and not to be in comfortable job.

The second thing is that you need to open your eyes on how big the wealth management market is, in every country. Successful trading or fund management will remain one of the most lucrative careers. But then anything which gives enormous independence and incentive opportunity is likely to be tough.

BTW about trading simulators: The Stock Market Game- trading simulators

and my profile: http://www.pagalguy.com/forum/career-discussions/25733-repository-skill-sets-pg-junta-5.html#post2143112

traderguy Says

Other firms were : AP Corona in Gurgaon and smtng like Jaypee Trading.. Many people whio were thrown out were absorbed by some of these kinda firms..There were a couple of more firms like this.. But they closed down due to problems of their own.. They weren't ruthless enough in terms of their firing policies I guess.. Surprisingly some people did alright.. But in the end even if tghey did well, it was not enough I mean.. These guys made about 70k for themselves per monh apart from the fixed salary for a few mnths .. but when they started making loses again, they were shown the door.. But these guys were smarter than the KPOites and ended up as Business Analyst kinda jobs in Finance domain..So even the best trader makes mistakes sometimes.. Its your drive finally which might tell you when to stop and when to start again.. When you join a prop trading firm, you may make money for a few months, then lose for a few months..There are many issues like "Is the money retained at the end of a month important".. I am sure many such firms will come up in India over the next few years.. But the only issue I have is, As you increase the money made, the odds keep diminshing at a very rapid pace .. Its like a Pascal Triangle.. So it is very imp to understand the dynamics of risk involved..I am sure most of you who have posted understand all these things.. I am writing it to help those people who land job at FF without any idea on any of these things.. Thr were many in my btach who joined this way..

I'll repeat 'your comments/opinions are grossly inaccurate and misleading'.

I'm travelling right now, hard for me to type down a detailed post but if you are interested
--- I will PM you profile lnks of extremely successful traders from several prop desks (ofcourse most are my friends)
--- Suggest you how to go about having the overall idea about the industry out of which you just got kicked out.

Zillion traders on Linkedin.. Hehe goodone.. Many have got fired buddy boy and many more dont show this as a valid workexp in India.. Even Infosys rejected me at Resume level when I applied thr after getting fired here..
BTW even if they fire , they give relieving lettrs .. Thats what makes them feel good abt themselves..Man they suck.. Dudes dont join this company from IIMS etc boys... I am a semi retard but I have gained some wisdom over the years of making mistakes..

I had 1 year experience a top class s/w firm (on the likes of Thogutworks)

My query to Tumtum and other experts on risk management....

-- What is the typical nature of work for risk managers in India
-- I have vague idea that trading/broking firms and i-banks employ them. What are the career opportunities?
-- What is the typical resume expected by employers? engg.+frm??
-- How good is their salary and career growth in comparison to analysts?

thanks.

Hey I have small query about stocks i have read some books about stock but could not understand root thing let me be specific can somebody answer following .


Q.1 if there are lets say 100 shares of 10 rs. each of a company in the market.there are 10 persons who own one stock each.

Q.2 If one person want to buy that company's stock bout none of the 10 person want to sell it would he be able to buy?

Q.3 If one person want to sell it but nobody want to buy it would he be able to sell.

Q.4 Please also tell me about change in price of stock using following example as i am not able to get by pure concept.

Q.5 if 5 out of 10 ppl in above example want to sell the stock if it goes to rs. 11.other 5 want to sell the stock if it goes to 12.
All outside traders want to buy the stock only if it goes to rs. 9.
How will price of stock which is now rs 10 change or will it not change.

I am confused .And what is TTQ how it shows the direction of stock where it is going.

I have not got any simple satisfactory answer plzz helppp.I wanna clear ma concepts.I am am new to all dis stuff.
Thanks in advance

Trading is a search problem; buyers search for sellers and sellers search for buyers. Buyers seek sellers willing to sell at low prices, and sellers seek buyers willing to buy at high prices. Traders must also find other traders who are willing to trade the quantities or sizes they desire.(The misnomer- ?trading?)

So you see unless the buyer and seller agree at a common price no trading will take place. Hope this explains 4 and 5.

For 2( and vise versa for 3) the buyer will have to raise his bid until sellers appear. He can try putting a bid to buy at 15Rs or even 30Rs if he is desperate enough to get the stock.

This also gives an idea why prices of penny stocks(which have very little trade-able shares in market) rise astronomically. You must have heard stories of a 2 rs stock going up to 50 rs per share.

TTQ = total traded quantity... it does not shows direction of stock per se.

hey... he could have his answers by googling simply. I did that work for him and posted links. He did not visit the links, again I tried to explain. But even then he didn't try reading them... if tried reading and did not understand it was a different thing altogether.

Dude I have learned things the harder way, working by myself. I'll expect a little from my brothers. I do not understand why should someone take this as insult, even when it comes from someone who spent his time selflessly trying to help him.

But yes I agree in future will try to convey such feelings through PM.

Guys, just a suggestion..I've gone through some of the older posts..Manik..had some queries...I understand that he was asking very basic questions..and it so seems that he has not read the links shared by someone..or didnt understand or whatever..

..but it will be kind of u if refrain from writing such things (in quote) on public forum...you can send a PM to him instead..it does no good by writing like that here..there are people to whom you will have to explain things in detail only to make them understand..if u r frustrated..better keep quiet..but dont insult them in public...I have not seen any post from Manik after that and am sure he would have had many more queries..

..I believe little bit of humility is needed..along with all IQ you have...

sorry for the deviation..

Not really a blog but glad to be associated with it The Traders Forum : Careers in trading, investment research and financial markets

and already mentioned by me elsewhere

A bad recession takes atleast 5 years for recovery. Scary statistics is still around.

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