I am not really upset, nor am I really happy. Not sure if that makes sense, but I am kind of in between.
Matt and I are both looking for jobs and it is really proving to be stressful on both of us. Especially Matt since he so motivated to succeed. If only hiring managers knew he made a 3.0 with having a severe head injury 3/4 his college career! I am continuously impressed with what he can achieve, I just wish he saw how great he is!
Matt and I are both looking for jobs and it is really proving to be stressful on both of us. Especially Matt since he so motivated to succeed. If only hiring managers knew he made a 3.0 with having a severe head injury 3/4 his college career! I am continuously impressed with what he can achieve, I just wish he saw how great he is!
Matthew's Situation:
Lynx Capital is based solely on commissions from the trades he makes in a month. Therefore, if he loses more than he makes or if the trading fee's out weigh his gains, he does not get a paycheck. He went into this job knowing it was 100% commission based, but he did not realize the amount of fee's there were going to be on each trade. Pretty much, if he loses money Lynx still gets paid per trade. Matt's trading style is completely different from what Prop firms want. Matt likes to pick a quality stock and sit with it for a while, not necessarily long term, but longer than day trading.
As a requirement prop firms require a deposit so you have something on the line and you do not make stupid trades, a capital contribution. Well what Matt noticed, is that people were going through their capital contribution and then being fired. So say he gave them $5000 of his own money, when he closes the day negative, it comes out of that deposit. Therefore, once you blow through your contribution check, they have no reason to keep you and they fire you. They did not lose any money on you because you paid for your loss up front and they made money on each trade you placed in the time you worked there. So, in essence, you paid them to not get anything in return. Well, come to find out, no one has received a paycheck since January. That is how hard it is to get a check!!!!
Matt decided while he still has more than 75% of his contribution check available, that he quit before he rushes through it and gets fired. So now we are living in Hoboken with no jobs, but on the bright side this is the best place for him to seek out jobs. It is just unfortunate that so many others are here looking to accomplish the same thing he is!!! He is smart, I have no doubt in his ability to succeed. Yeah it sucks Lynx turned out to be sort of a scam, but he learned he does not want to be a trader. That is huge for him because he has spent the last two years solely looking for trading positions. Now he is focusing on finding a salaried position with benefits. He is still doing what he loves in his free time since he trades on his Scottrade account, but there are no fee's!
My Situation:
Ever since I got out here I have been looking for jobs. I have had two interviews, one with the W hotel and the other with Office Depot doing a corporate sales, neither of which I landed. After going to the interview for the Office Depot I realized it was not really what I wanted to do anyway. Whenever a position requires cold calling, I really do not want any part of it. Another thing he mentioned was going into random businesses across NYC and try to sell products to companies that way. So, in other words, I would be walking alone vulnerable in NYC and going to into strange companies I know nothing about? No thank you, it does not really seem safe! The more I thought about the position, the more I realized it resembled USANA. If I was going to accept that position had I been offered, I might as well get off my butt and make more money with my USANA business! I do not have to walk into strange places nor do I have to call 100 RANDOM people a day. Yeah, as a quota I would have to visit 25 random companies and have a scheduled meeting with 8 others on MWF's, then TR's I would need to cold call 100 random people trying to sell products (those numbers are per day)...
So I have decided to get off my butt and work on USANA. I went to school for marketing so this is the perfect company for me to work for. I think I got discouraged because I really did not need to go to college for this position, but it helps! I see that now, even though I could have started this without wasting money on college, I feel I bettered myself by going and I think I could market myself better to others having gone to school. It makes me more creditable. I already have everything to start, so why not?
So wish us luck with this job search thing! Hopefully Matt gets more nibbles from creditable companies. He is starting to get discouraged. I see his point, its expensive here! Everything happens for a reason though, we will figure out our reason :)





