Young need guidance

[CBray]

Hi, I'm 16 (17 in 2013) and I'm thinking of going into stocks/trading/investing area for a living when I am older. Over the past few years I've been interested in going into the field of theoretical physics, but after thinking about salary and such I have thought quite a lot about switching my future occupation. I have (currently) a very strong background in mathematics and physics but none in economics, finance, etc. I've studied Linear Algebra (Up to Eigen values), multi-variable calculus (starting more vector calculus/differential equations later), etc. I program a lot of Mathematica and do a little other programming on the side whenever I'm bored.

If I were to be interested in working for a firm when I'm older, what books should I be reading (note, I prefer to read books)? What do firms look for in a person?

Thanks

 

[VielGeld]

Hullo CBray, I can commiserate with you as I first started out in Physics myself, then switched to Finance later on as I found the former wasn't really for me after all.

First things first, I would advise you to determine whether you'd be happier doing Physics or Finance omitting the monetary compensation. Just going into Finance for the money is indeed a bad idea as you might find jobs in there quite dull. Trading/investing is also not for the faint of heart.

Also, forget about books. If you're interested in working for a firm I would advise you to network instead and get to know people that might be able to help you put a foot in the door. Networking is one of the most important aspects of business. Getting good at it early is an invaluable asset!

Well, that's not to say that books are useless. Just take them more as guidelines and as an introduction to concepts, terminology, and the industry. If you're genuinely passionate about Finance, I would very much rather advise you to take an interest in people instead.

 

[CBray]

Yeah, I seem to find the quick and fast environment of a trader quite enjoyable. I obviously have no actual experience or knowledge of being one so it's quite difficult for me to decide whether I'd be interested.

 

[VielGeld]

Actually, proper trading is often the opposite -- quite dull. Excitement is for those who like losing money. In fact, patience is probably the prime virtue of the good trader. You might have to be able to sit tight for hours despite the market not moving one iota.

If you would like to know whether it is for you, you can open a demo account for some paper trading. I absolutely encourage you not to put real money on the table for maybe a year or two until you think you have something that makes money. You can also learn about the various instruments there are out there (stocks, futures, forex, etc.), and the mechanics behind markets and all that.

As for jobs, I'm aware of two viable choices for someone in your position. Namely, either going straight into a trading/investment job in a bank or financial institution (best path, imo. Go straight into trading). Second option is you pick up a finance job and learn trading on the side.

Of course, that's my perspective. Others more informed than I may want to chime in here...

 

[Shakone]

Hi, I'm 16 (17 in 2013) and I'm thinking of going into stocks/trading/investing area for a living when I am older. Over the past few years I've been interested in going into the field of theoretical physics, but after thinking about salary and such I have thought quite a lot about switching my future occupation. I have (currently) a very strong background in mathematics and physics but none in economics, finance, etc. I've studied Linear Algebra (Up to Eigen values), multi-variable calculus (starting more vector calculus/differential equations later), etc. I program a lot of Mathematica and do a little other programming on the side whenever I'm bored.

If I were to be interested in working for a firm when I'm older, what books should I be reading (note, I prefer to read books)? What do firms look for in a person?

Thanks

If you want to work for a good bank or hedge fund they will look for

A good degree from a good university in a technical subject (theoretical physics is one).

Judging from the areas of maths you've mentioned for a 16/17 year old you're ahead of the curve, therefore apply to the best uni you can and do theoretical physics if it still holds an interest for you. Once you've graduated with a first or so, then you'll be well placed to find a good career. But even before then, can do internships each and every summer during your degree to give you experience and help you to decide what you want to do.

What books should you be reading? Physics and maths ones.

 

[timsk]

Hi CBray,
Welcome to T2W!

The post by $$$DOLLAR$$$ is a tad on the cynical side but, sadly, there is more than a grain of truth in it. That said, not everyone offering advice falls into the category s/he describes! The key thing is to have a bit of common sense and wherewithal to distinguish between those worth listening to and the wannabe pretenders. Judging by your OP, you have a very smart head on your young shoulders and will do just fine.

If you've not seen it already, this FAQ may have some ideas worth pursuing: How Do I get a Job Trading?
Best of luck,
Tim.

 

[15 min tlb]

If you want to get into trading and looking for advice, then the last thing you should ever do is take advice about trading from anyone on an online forum.

Most of the people on this and other forums are wannabe traders on housing benefits, job-seekers or retired and have nothing else to do apart from spend 14 hours a day posting away, bird watching and trainspotting, thats why a lot of them are fast to dish out advice and have huge post counts and always logged on.

So I have been told anyway.

Lets see how that one goes down :whistling

You mean , you and LordFlashfart are gambling on dole money on live trades ?

 

[x4x]

If you want to get into trading and looking for advice, then the last thing you should ever do is take advice about trading from anyone on an online forum.

Most of the people on this and other forums are wannabe traders on housing benefits, job-seekers or retired and have nothing else to do apart from spend 14 hours a day posting away, bird watching and trainspotting, thats why a lot of them are fast to dish out advice and have huge post counts and always logged on.

So I have been told anyway.

Lets see how that one goes down :whistling

I mostly agree with what you write, but am wondering which you are:

1). Job Seeker

2.) Retired

3.) Bird Watcher

4.) Train Spotter

40 posts in 3 days has got to qualify you as one of them.....so which one? :cheesy:

 

[NVP]

use all that brainpower to focus on building trading systems ............you have an edge on most of us who are more Traders than programmers .........

then spend time researching and reading about trading..........try to keep it simple when you design something as well....simple is good

good luck
N

 

[neil]

4.) Train Spotter

I tried bird watching once but the police moved me on

 

[15 min tlb]

I tried bird watching once but the police moved me on

If they were smart enough , they wouldn't need to be moved on! In search of some train outside you!