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Ron 14 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Ron 14 Quote  Post ReplyReply Direct Link To This Post Posted: Jul/30/2010 at 8:37pm
Oh I thought you meant he was at 85k with bonuses included. What is an internal at ML?
 
Yeah, difficult to be real selective at the bank, but it is possible.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: Jul/30/2010 at 8:47pm
Have you thought about the wholesaling route?
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eggward View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote eggward Quote  Post ReplyReply Direct Link To This Post Posted: Jul/30/2010 at 8:47pm
Ron, have you sent a PM to Gaddock about this?  He kinda disappeared but he is a trader and was clear that he would prospect to get a certain number of clients and then would stop prospecting and just manage assets.  You might not agree with certain aspects of his trading style, but he might be able to offer some good insight with respect to the questions you ask.  I don't know him other than his posts on this site and the old one....it was just a thought.
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Ron 14 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Ron 14 Quote  Post ReplyReply Direct Link To This Post Posted: Jul/30/2010 at 8:49pm
The firms I have worked for don't allow for options trading and I don't think I could bring in enough funds with my lack of prospecting talent to make it work.
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Ron 14 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Ron 14 Quote  Post ReplyReply Direct Link To This Post Posted: Jul/30/2010 at 8:50pm
Originally posted by under_complicated under_complicated wrote:

Have you thought about the wholesaling route?
 
Not really because I wouldn't believe in what I was selling. I don't think there is a big difference in fund families and with managed money becoming the norm I don't see much of a future in it.
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Lawrence View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Lawrence Quote  Post ReplyReply Direct Link To This Post Posted: Jul/30/2010 at 8:52pm
You could be the "party boy" at some beach resort.
At least you and I finally have something in common.
L

"If you don't see it as an insult that he is watching your mom, spread eagle, taking in an object from another female then I can't help you." Ron14
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: Jul/30/2010 at 9:00pm
Originally posted by Ron 14 Ron 14 wrote:

The firms I have worked for don't allow for options trading and I don't think I could bring in enough funds with my lack of prospecting talent to make it work.
 
 
Prospecting talent is a myth.  There is calling and call avoidance.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: Jul/30/2010 at 9:01pm
Originally posted by Lawrence Lawrence wrote:

You could be the "party boy" at some beach resort.
At least you and I finally have something in common.
L

So Lawrence is in Key West for the summer.
You know working an Old mans' sack is different than working for Goldman Sachs right?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: Jul/30/2010 at 9:02pm
Originally posted by Lawrence Lawrence wrote:

You could be the "party boy" at some beach resort.
At least you and I finally have something in common.
L

Wth are you talking about?
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Ron 14 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Ron 14 Quote  Post ReplyReply Direct Link To This Post Posted: Jul/30/2010 at 9:02pm
Originally posted by Primo Primo wrote:

Originally posted by Ron 14 Ron 14 wrote:

The firms I have worked for don't allow for options trading and I don't think I could bring in enough funds with my lack of prospecting talent to make it work.
 
 
Prospecting talent is a myth.  There is calling and call avoidance.
 
You may be right. Either way I have played that game and it didn't happen for me.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: Jul/30/2010 at 9:04pm
Ron, How much do you need/want to make a year?
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Ron 14 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Ron 14 Quote  Post ReplyReply Direct Link To This Post Posted: Jul/30/2010 at 9:06pm
I can survive on 50 now, but I need to see that 150+ is on the horizon.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Wet_Blanket Quote  Post ReplyReply Direct Link To This Post Posted: Jul/30/2010 at 9:08pm
Have you ever considered a career in Compliance?
When money is speech, speech isn't free.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: Jul/30/2010 at 9:08pm
It isn't all about the money...
 
Seriously find your passion and enjoy your family. This life isn't worth being miserable for $.
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Ron 14 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Ron 14 Quote  Post ReplyReply Direct Link To This Post Posted: Jul/30/2010 at 9:09pm
Wet -Never had until recently. I am being serious, I don't know if you are.

Edited by Ron 14 - Jul/30/2010 at 9:11pm
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Ron 14 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Ron 14 Quote  Post ReplyReply Direct Link To This Post Posted: Jul/30/2010 at 9:10pm
Originally posted by under_complicated under_complicated wrote:

It isn't all about the money...
 
Seriously find your passion and enjoy your family. This life isn't worth being miserable for $.
 
My passion to be a college or NFL scout doesn't pay jack, that is the problem.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Wet_Blanket Quote  Post ReplyReply Direct Link To This Post Posted: Jul/30/2010 at 9:18pm
Originally posted by Ron 14 Ron 14 wrote:

Wet -Never had until recently. I am being serious, I don't know if you are.
Honestly, if you really want to get out of client business, then my suggestion would be to become either a) compliance or b) a trader for a RIA or hedge fund.

If Compliance, I recommend RIA because the job is more challenging and higher paying than B/D. Not sure about Bank Compliance though - but I'm guessing the pay isn't that great until you are high up in the corporate structure. I would think that your trading AND FA experience will be a strength.

For a trader at a shop, you can make good money. A lot of firms base bonuses on price improvement for traders. Also, a lot of these shops just have order takers for traders. If you were good and have good contacts, then that would be a benefit.
When money is speech, speech isn't free.
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Ron 14 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Ron 14 Quote  Post ReplyReply Direct Link To This Post Posted: Jul/30/2010 at 9:21pm
Where would I begin to look? My contacts are still floor type guys and I have a complex where I want to find jobs on my own, not because I knew someone.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Wet_Blanket Quote  Post ReplyReply Direct Link To This Post Posted: Jul/30/2010 at 9:27pm
Do you have any trader contacts in the big B/Ds? I don't mean that you use them for a job, but you use them when you are a trader at a shop. For example, our trader has a good network of "friends" at various desks - so we tend to get pretty good treatment when we put a trade through their desk.

1 other thing you have going for you is your location. Let me mull this over to see if I can give you a concrete starting place.

First obvious place I would start in the meantime is look at the various trader's mags for job postings or events.

As I'm sure you know, your personality would be a strength in that position.
When money is speech, speech isn't free.
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Ron 14 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Ron 14 Quote  Post ReplyReply Direct Link To This Post Posted: Jul/30/2010 at 9:30pm
Originally posted by Wet_Blanket Wet_Blanket wrote:

Do you have any trader contacts in the big B/Ds? I don't mean that you use them for a job, but you use them when you are a trader at a shop. For example, our trader has a good network of "friends" at various desks - so we tend to get pretty good treatment when we put a trade through their desk.

1 other thing you have going for you is your location. Let me mull this over to see if I can give you a concrete starting place.

First obvious place I would start in the meantime is look at the various trader's mags for job postings or events.

As I'm sure you know, your personality would be a strength in that position.
 
This I definitely have. Two of my best friends are floor brokers in the SPX Options pit at the CBOE and I have contacts with a bunch of other guys. I just don't how I could market that to anyone.
 
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