Dear Mr. Bellafiore,
I just finished your book while on vacation in Cabo this week and was blown away. For the last several years I have wanted to get into trading professionally, but couldn’t make the move because I was not sure there was a system for learning and coaching that would help me get better, not just follow what the “superstars” did.
I am 34 this week, obviously older than the traders you normally recruit, and I do not have a background in finance. I majored in business, and then got an MBA and have enjoyed a successful career in marketing and management with an international surgical company. But, I discovered trading a few years ago and it is where I want to be for a multitude of reasons.
I am not reaching out to you for a job. I know I don’t have a shot without a track record, and I have a commitment to my current employer for a year……
However, could you tell me some things I could do in the next year so that if I sent (a prop firm-edited by author) a resume they would want to interview me?
I will be reopening my trading account next week and will be trading my own cash to build up a track record I can use for interviews. I have generally traded options in the past, as I did not have enough cash to make large enough trades in straight equities (I did well during 2008-9 working both calls and puts on mostly PCX, GE, DDD, and STD. I had to close out the account to buy a house, pay for a wedding and get a second car) . I will have a larger capital pool this time around and will focus on straight intra-day equity moves. Based on the time difference, I will work on trading the Nikkei as well as the NYSE. I mostly follow CNBC and seeking alpha and SMB blogs, and had a subscription to Absolute Return, which I cancelled because I want to trade, not run a hedge fund. I generally use 3 minute charts and am familiar with the Level2 quotes. I use them to get a feel for price action, but I am sure that I need to learn how to “Read the Tape” as your team does. I am willing to do virtually anything to get my foot in the door with a prop firm and earn what I have achieved. I love the team atmosphere, and a group that is willing to work together to make everybody more successful…..
Any help you can give me would be appreciated, as I know there are only a precious few spots and a thousand qualified people trying to get them and I know I will need to show you something to get noticed.
2. Read about trading. In Drive Daniel Pink shares a story about being asked how to pick a job. Most will answer to do what you love. Mr. Pink suggests to do what you do.
4. Find a Mentor. In Bounce we learn that there are very few high level performers who do receive excellent coaching.
5. Save. The longer you can survive the learning curve the more attractive you are to a firm. I have sensed the learning curve shifting to 18 months for the greatest leaps in progress for our traders.
What advice would you offer to SMBer EB?