Want to become a Proprietary Trader?

Question

I'm currently interning @ RBS Greenwich Capital Markets in Credit. It is boring. I've been offered a chance to maybe move around the firm to a different area. I know I really want to proprietary trader or be a FOREX spot trader, but I was unsure if they would be too busy to work with an intern. I would think so, in which case where can I learn to trade for free? Also, I was hoping I could get some clarifications into the two areas, what seperates them, and what kind of person would be better fit for both areas. Thank you so much.

Answer 1

If you have the chance to intern on a trade desk go for it and don't worry about them not having time for you, if they offer it then they have time. A prop trader uses the firm's capital to take on risk and make money. On the other hand, you have flow traders, who basically execute firm's client orders.

Also, as a prop trader you can trade spot FX or any other product for that matter, it really depends on what the firm trades.

Answer 2

If you like trading and some one offers you a chance to work on  trading desk and you don't take you're a fool and don't deserve to even work for that company

You don't worry is someone is going to "work" with you, you take the golden opportunity and run with it.   If you think traders are going to hold you hand and spend time teaching you better not take the job.   You learn by doing, by following, by listening, and paying attention.

All traders have the some abilities, personalities & traits, some a little more servere than others.  Traders are above average intelligence (you would know most of the time) quick thinking, good a math and have out going personalities and most importantly are not wrapped too tight.

I've been on the floor of most exchanges, including the options. equities and commodities and a trader is a trader is a trader.  A good floor trader (and most inhouse) can trade anything with a very short indoctrinization period