Future career advice appreciated

Hi All,

My background is as follows: I have got a Masters degree in a numerate subject from a top university. For a while I have been working as a private client "dealer" at a deliverable FX brokerage. My role is basically a sales role - I mainly call people who register via the website trying to get their business, amongst other related tasks.

I have already got the ACI dealing certificate. It seems as if the way to go within this company is to be become a "senior" dealer after a while and then possibly move onto the Corporate desk. Whilst I am enjoying what I am doing and certainly wouldn't say that I am unhappy with it at all, I am not quite sure what my future prospects could be given that I am interested in the speculative side of FX (I trade in my own time).

I guess one option could eventually be moving to an online broker who deals in spec trading (FX, CFD's etc)? Any advice as to what I should be doing to bolster my CV/knowledge etc would be much appreciated; specifically should I be looking to study for any exams/certificates (e.g. SI/SII) in my own time? To be honest I am just a bit worried that I am going to be left behind and not be able to further myself if I don't start acting now.

Any constructive replies are much appreciated.

Regards,

Ian Thomas Chrisa

First of all , do not go and quit your job to go and do a trader training course...
If you trade and are any good, surely you can ask your own broker about a desk in their trading floor.

Can I ask how old you are? In order to guage the stage you're at..

Neither of these two work for an institution

I would say the best way to get a job on a trading desk is make sure you are in a company that is expanding and that you work in a role where you have regular contact with the traders.

I started out as a product controller in small hedge fund and by producing good reports for the traders, showing an interest in what they where doing and generally having a laugh with them, when they needed a new junior they asked me if I would be interested.

I dont think this is a uncommon way to get on the desk, although it does take some effort.

Technically Fundamental said:

Neither of these two work for an institution

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Were you going to encourage the person to leave their job to go and paid for a trader training course with the understanding they'll then become trader ? What course do you sell , push or promote? :innocent:

fantastic said:

Were you going to encourage the person to leave their job to go and paid for a trader training course with the understanding they'll then become trader ? What course do you sell , push or promote? :innocent:

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For all I know, Futex's course could be the dogs and teach you to use the market as a cash machine.

Doing the above will probably result in a higher probability of going full-time because there will be no distraction from work.

Technically Fundamental said:

For all I know, Futex's course could be the dogs and teach you to use the market as a cash machine.

Doing the above will probably result in a higher probability of going full-time because there will be no distraction from work.

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Here we go! So you were trying to promote Futex

What about the risk for this person? I thought trading was about managing risks?

Chrisa : keep your job, practice with your broker's trading account.
If you are any good, you'll find out that quiet a few brokers out there will
be delighted your asking them to join their trading floor.

meanreversion said:

Can I ask how old you are? In order to guage the stage you're at..

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Hi,

I'm 23...

chrisa said:

Hi,

I'm 23...

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I haven't worked in fx, so excuse me if I'm just showing my ignorance but I haven't heard of the qualifcation that you've got. I'm not sure it's something that would qualify you for FSA registration, so if you're interested in pursuing a career at an online brokerage sit one of the SII's Certificates.

However, I'd think you'd just be placing orders and what you're doing/could do at your current company would be more interesting.

Edit: just googled the ACI exam. It says it is recognised by each regulator in the countries it covers, so I guess the FSA must recognise the exam.

Chrisa: I would recommend that you do every examination under the sun to cover all your bases and stick it out at your current prop trading institution until something better comes along – it’s a tough market out there and having a ‘Masters degree in a numerate subject from a top university’ is no guarantee of success – perhaps you can ask some of your contacts in the industry to guide you along…while T2W has its merits, seeking career advice from online ‘captains of industry’ is probably not the best idea…

Good luck!