A Little Advice...?

[Hollu$]

Evening all.

So today I was looking for a little advice, and was hoping I could get some here!
About me first...I'm 21, in my 2nd year of my Degree, work for HSBC part time, been researching/small trading for about 18 months now.

I have recently applied for the executive management trainee graduate scheme with hsbc. My plan was to finish that (lasts 2 years and you get a Degree in Finance after) and then apply for trainee stockbroker jobs.

But I am concerned...my Degree is not related to finance/business/accounting/economics at all. In fact...it is so far south - it amazes people.

If and when I come to apply for trainee stockbroking jobs - will be my degree in a field that could not be connected to this area in any shape or form, going to hold me back?

I asked my University in the 1st year to change to Finance and Investments...but they said no as it was too different, and warned me if I dropped out to re-start, I wasnt guaranteed a position.

For the HSBC graduate scheme I have applied for - they will consider you providing you have at least a 2:1 in any field.
But I'm concerned about what will happen after with the trainee stockbroker jobs.
Oh...and I am also about to start studying for my SII exams, I rang up yesterday and ordered the first lot of books!

Could anyone provide me with any help at all?
I would appreciate anything!

Many thanks - Holly

 

[shadowninja]

I can't help at all but what is your degree in, then?

 

[Skill Leverage]

You can get a job as a trainee stockbroker with a degree in farming, or none at all. You might not believe me, but I know several people without degrees who have walked into such jobs; lots of companies looking for another phone jockey, they will just plonk you down with a list of numbers and tell you to start dialing. I really dont' see why you'd want to go from a grad program at HSBC to this; if however you're talking about being involved in sales at another institution, that's another kettle of fish, and you'd be best off speaking to Goose or GJ.

 

[Skill Leverage]

Oh, and stockbrokers, at least the ones I know, don't have the first clue about finance, economics or much of anything for that matter, so your degree won't matter.

 

[Hollu$]

Mmm...that is interesting. I wasnt aware of that at all. Thank you Skill.
I'm not 100% set on going down the trainee stockbroker line...I have 3 years before I need to decide, but I like to have some sort of idea of where I am heading.
Yes I am aware that some companies will want another "phone jockey" but surely that will just be to begin with?
I am prepared to start at the bottom and work my way up, I wont be expecting to get a job and walk straight onto the trading floor or whatever.

 

[Skill Leverage]

My advice is this; stockbroking is not a way into trading. If you want to be a trader, apply for trading jobs.

 

[Hollu$]

Ok, thank you for your advice.
Do you trade professionally or just at home?

 

[Skill Leverage]

I trade at a prop firm.

 

[Technically Fundamental]

I trade at a prop firm.

get me a job

 

[Skill Leverage]

More satisfying if you do it yourself.

 

[Technically Fundamental]

Irrelevant. The result is all that matters. Haven't had an interview for ages.

 

[Skill Leverage]

I mean, I can put your CV in front of the right people, but being Futex I imagine you've already done that.

 

[Technically Fundamental]

Nope. I'm really tiring of this Accountancy lark and that's all I'm qualified to do so as Futex are one of the more serious yet accessible outfits for someone in my position I decided to see how I fared with others before trying them. I'll wait until I have a CFA at least so I have a relevant qualification. i can't be bothered trekking all the way down to London again unless I think I have a shot.

 

[Skill Leverage]

CFA is pointless if you want to be a prop trader mate. What qualifications/trading experience do you have at the moment?

 

[Technically Fundamental]

Only accy quals part qualified andtudying professionals atm. profitable demo accounts but live trading exp not so good but was very under capitalised in relation to minimum position size offered. That's why I want to go to a place that teaches.

 

[cr6196]

What qualifications/type of experience would be held in regard at prop firm, out of curiosity?

 

[Technically Fundamental]

Profitable Record + Economics

 

[cr6196]

right that raises a few more questions than it asks....

whats a profitable record? how long? how profitable?
a degree in economics? a gcse? what?

 

[Technically Fundamental]

I dunno I was guessing about the economics lol. Anything less than degree level is not worth air in financial industry as far as I'm aware though.

As for the profitable trading record, from what I've heard on here a 1 year with a clear strategy, proof of structure of trades and planning e.g. journal but the amount of profit would be dependant on the amount of capital.