Advice for anyone trying to get into a job in forex trading?

[gnr2206]

Many people come onto boards/forums like this a post question such " How do i get rich from trading" etc. But something ive never seen is a thread by anyone posing questions looking for advice for what degree is best to get the job you want.

Just say you want to be a trading; what degree (in uk or ireland) is best suited?
-Mathemathics
-Finance (I hear that you rarly get a job in trading with just finance;true??)
-Engineering/Physics

Is mathemathics very necessary or is it a certain type of personality?

Any advice would be helpful for seasoned forex veterns; thanks!

 

[Dommo]

Well, it would depend on the job you want.

Anyone who can do a mathematics degree should do so, just for the joy of it, regardless of what happens next. After your degree in maths, no matter what you do (aside from programming), you will never again see such pure, anambiguous, BS-free logic.

If you're looking at a quant/trading role, physics and astronomy are also a big pull, because these guys learn to wrap an analytic/mathematical framework around something that looks intractable.

If you are thinking about quant/trading, start thinking ahead about what might interest you for a PhD. Don't wait for middle of year 3 - make a road map in year 1 and develop your particular interest.

If you want to get near a trading desk, long term determination, a resilient personality, a sense of humour and a thick skin will help. But you're Irish, so you can do all that.

I wouldn't go for a finance degree, unless you intend to get into a different part of a bank. But I suggest you think hard about this, because banks' functions are extremely wide, and sales and other skills at every level are in play.

If you can't decide, just do maths or physics. If you can learn either of these, you can learn finance. The opposite may not be true.

 

[gnr2206]

Well, it would depend on the job you want.

Anyone who can do a mathematics degree should do so, just for the joy of it, regardless of what happens next. After your degree in maths, no matter what you do (aside from programming), you will never again see such pure, anambiguous, BS-free logic.

If you're looking at a quant/trading role, physics and astronomy are also a big pull, because these guys learn to wrap an analytic/mathematical framework around something that looks intractable.

If you are thinking about quant/trading, start thinking ahead about what might interest you for a PhD. Don't wait for middle of year 3 - make a road map in year 1 and develop your particular interest.

If you want to get near a trading desk, long term determination, a resilient personality, a sense of humour and a thick skin will help. But you're Irish, so you can do all that.

I wouldn't go for a finance degree, unless you intend to get into a different part of a bank. But I suggest you think hard about this, because banks' functions are extremely wide, and sales and other skills at every level are in play.

If you can't decide, just do maths or physics. If you can learn either of these, you can learn finance. The opposite may not be true.

thank you for replying

I would like to add that i have no interest in quant/algo trading etc

What i would like to do would be to trade forex or equity (possible scapling). Would you suggest i take up as many team sports as possible in college to enhance my CV? Im thinking of doing my degree (in whatever i end up picking) striving for good grade and trade whilst in college in spare time.

 

[Dommo]

thank you for replying

I would like to add that i have no interest in quant/algo trading etc

What i would like to do would be to trade forex or equity (possible scapling). Would you suggest i take up as many team sports as possible in college to enhance my CV? Im thinking of doing my degree (in whatever i end up picking) striving for good grade and trade whilst in college in spare time.

Fair enough - quant/algo trading takes place across all asset classes, and I can't see any area becoming less mathematical. I think all the scalping jobs in banks are now occupied by computers. You should do sports, but I would be surprised if they are the decisive factor in getting you a job.

 

[gnr2206]

Fair enough - quant/algo trading takes place across all asset classes, and I can't see any area becoming less mathematical. I think all the scalping jobs in banks are now occupied by computers. You should do sports, but I would be surprised if they are the decisive factor in getting you a job.

I agree; i will try to improve my math skills.

Im not sure what you all think but i think a bit of a track record will atleast get you an interview but trading on you own account

 

[shadowninja]

After your degree in maths, no matter what you do (aside from programming), you will never again see such pure, anambiguous, BS-free logic.

So THAT'S why I can argue the toss over everything and try to tear apart everyone's argument or just stare at people incredulously when their arguments show more holes than a piece of rat-chewed Swiss cheese.

 

[jiggly]

What i would like to do would be to trade forex or equity (possible scapling). Would you suggest i take up as many team sports as possible in college to enhance my CV?

if you would like to trade forex or equity, then simply start trading,

there is no need to wait for someone on the otherside of a desk to give you an opportunity or permission to do this. find a broker online, open an account and deposit some money and try to make a return.

if you cant make a return on your money you will not for anyone else either. If you want to be a trader, you have to trade. take some initiative and responsibility in all areas here.

the best way to get a job in trading is to show your prospective employer, that you have a verifiable track record trading......

 

[gnr2206]

if you would like to trade forex or equity, then simply start trading,

there is no need to wait for someone on the otherside of a desk to give you an opportunity or permission to do this. find a broker online, open an account and deposit some money and try to make a return.

if you cant make a return on your money you will not for anyone else either. If you want to be a trader, you have to trade. take some initiative and responsibility in all areas here.

the best way to get a job in trading is to show your prospective employer, that you have a verifiable track record trading......

yes ive been paper trading for a while and am considering starting with a small amount

 

[Black Swan]

if you would like to trade forex or equity, then simply start trading,

there is no need to wait for someone on the otherside of a desk to give you an opportunity or permission to do this. find a broker online, open an account and deposit some money and try to make a return.

if you cant make a return on your money you will not for anyone else either. If you want to be a trader, you have to trade. take some initiative and responsibility in all areas here.

the best way to get a job in trading is to show your prospective employer, that you have a verifiable track record trading......[/QUOTE]

Spot on..

 

[D70]

Many people come onto boards/forums like this a post question such " How do i get rich from trading" etc. But something ive never seen is a thread by anyone posing questions looking for advice for what degree is best to get the job you want.

Just say you want to be a trading; what degree (in uk or ireland) is best suited?
-Mathemathics
-Finance (I hear that you rarly get a job in trading with just finance;true??)
-Engineering/Physics

Is mathemathics very necessary or is it a certain type of personality?

Any advice would be helpful for seasoned forex veterns; thanks!

It doesnt appear that people are able to answer questions on this site.

IF YOU WANT A JOB IN TRADING, YOU NEED THE FOLLOWING:

1. An excellent academic background (a's or b's at A-level, a "proper" degree, so classics all the way thru to chemistry is fine. Traders come from all academic subjects. (Altho it is probably true that most have a mathematical bent). The most important thing is which university you go to. LSE & Oxbridge are almost a must if you want to get a job at goldmans (but you would know this already), then the next tier of university will give you a half shot at a trading job. So that is probably Kings, Nottingham, UCL, Imperial, Bristol, Edinburgh, etc. If you can do a masters, do it. If you can do a phd, do it.

2. Evidence of a life. Team sports, head boy, voluntary work, etc etc.

3. Good interview skills.

4. Show some interest in finance (internships, hobby trading) so you can at least hold a sensible conversation in your interviews.

A SB trading record means absolutely jack ****e at a bank / established hedge fund.

GET EDUCATED.

 

[Savana Jhones]

This advice is really fair and very advantageous and a better start for those who are stepping into forex trading. I know one thing that we should know the basics and start implementing on that.

 

[jiggly]

A SB trading record means absolutely jack ****e at a bank / established hedge fund.

GET EDUCATED.

really, Why is that then?

 

[GammaJammer]

thank you for replying

I would like to add that i have no interest in quant/algo trading etc

What i would like to do would be to trade forex or equity (possible scapling). .

if you would like to trade forex or equity, then simply start trading,

there is no need to wait for someone on the otherside of a desk to give you an opportunity or permission to do this. find a broker online, open an account and deposit some money and try to make a return.

if you cant make a return on your money you will not for anyone else either. If you want to be a trader, you have to trade. take some initiative and responsibility in all areas here.

the best way to get a job in trading is to show your prospective employer, that you have a verifiable track record trading......

Perfect answer really. When you say 'scalping' you are basically distancing yourself from something any larger firms would be interested in hiring you for anyway, so you may as well trade your own funds. As jiggly said, there's no interview process for this and if you make it you keep all the dough.

Interestingly though, why, when you have no real experience, are you intent on going down this route? And btw, when you say "I have no interest in algo / quant trading, I just want to trade forex or equities", how exactly do you think all this stuff is traded these days. If you think for example that landing yourself a job on an investment bank's FX trading desk, regardless of whether it's on the market making or prop side will not involve anything 'algorithmic' you're sadly mistaken.

And no-one's gonna hire you to sit in a $1m a year seat (just the cost of you being there, not talking revenue here) to trade cable with a 10 point stop based on some random hunches. It's all a little more sophisticated than that these days mate - not much mind

 

[D70]

really, Why is that then?

A SB account "track record" doesnt mean jack chick, as i most beautifully put it because of the following.

Say you are a hedge fund with a couple of billion or an investment bank with so many million to play with. All the news guys on the desk have top notch academics, including phd's and masters (there may be a few old boys who dont but I bet my bottom dollar they're as sharp as a razor at getting rid of their risk round the houses when there isnt enough size available at spot. Anyway. I digress.

So if you are recruiting and you get 2 cv's. 1 is from a guy with an amazing 6 months sb track record where he turned 500 GBP into 3000 GBP, plus evidence of a b and c in business studies and geography at a - level. The other application meanwhile shows various banking internships,3 a's in maths, physics and chemistry (a-level) plus head boy,voluntary work, maths at cambridge, plus a masters at LSE. He has no trading experience of his own account.....let's say.

Who gets the job?

 

[Black Swan]

A SB account "track record" doesnt mean jack chick, as i most beautifully put it because of the following.

Say you are a hedge fund with a couple of billion or an investment bank with so many million to play with. All the news guys on the desk have top notch academics, including phd's and masters (there may be a few old boys who dont but I bet my bottom dollar they're as sharp as a razor at getting rid of their risk round the houses when there isnt enough size available at spot. Anyway. I digress.

So if you are recruiting and you get 2 cv's. 1 is from a guy with an amazing 6 months sb track record where he turned 500 GBP into 3000 GBP, plus evidence of a b and c in business studies and geography at a - level. The other application meanwhile shows various banking internships,3 a's in maths, physics and chemistry (a-level) plus head boy,voluntary work, maths at cambridge, plus a masters at LSE. He has no trading experience of his own account.....let's say.

Who gets the job?

But if two guys had very similar cv number 2's, and one of them had already demonstrated a passion/success for trading, who would get the job? I'd still be looking (hoping) for that x-factor from the candidates...

 

[Kevin FD]

Forex can be a good career if you can observe all inevitable part of tradings. its very difficult and need a strong determination with great patience.

 

[AdamCantor]

i dont know many people who trade full time, most people i know do it in their free time or perhaps part time.

 

[AdamCantor]

Forex can be a good career if you can observe all inevitable part of tradings. its very difficult and need a strong determination with great patience.

exactly, took me a good couple of years to master tbh

 

[Kevin FD]

i dont know many people who trade full time, most people i know do it in their free time or perhaps part time.

actually full time or part time , its not a big deal , the main issue is your effort which is more important than passing time full or part.

 

[AdamCantor]

actually full time or part-time , its not a big deal, the main issue is your effort which is more important than passing time full or part.

100 percent agree