Question: How to become a floortrader in New York? (NYSE/NASDAQ/DOWJ ect.)?

Hi im a junior in high school and im intrested in the career of a floortrader. What do i have to do to become one in terms of where should i go to college? (ivy league out of the question) Should i gain experience in the industry and how do i do that? What would i do? How to apply? Do i need years of experience as a stockbroker for some company? Thanks much appreciated

Answer:

You are looking for the ability to trade directly at the exchange without a middle man. The only way to do that is to buy a "Seat" on the exchange. That price tag various from several hundred thousand to several million dollars.

DOWJ ect are not exchanges...Exchanges DO NOT hire floor traders nor specialist. Most of the traders are employees of member firms or they are a member themselves.

A college degree is not a requirement although many of the traders on the floor have college degrees.

The ideal would be for you to try to get a summer job at one of the exchanges. this may be hard to do since many of the "members" try to get their kids down there

Yes industry experience would help (even though it may be part time or a summer job). Try to get with a brokerage firm that is based in NYC and has a floor operation. You take any job they may offer you and you bust you hump so they notice that you're not afraid of work, don't ever worry about what they will pay you or the hours you are to work - just take the job, it will get you to where you want to be.
The same thing with Exchanges, try to get either a summer job and/or a part time job regardless of what the job is. It just gets you closer to what you want