Advice for young trader

[FreakofNature]

Run like the wind.

 

[sle]

Career-wise I have been less successful. I've applied to most investment banks and value-oriented hedge funds, but have been unsuccessful in getting even a first round interview. I understand that "high finance" usually hires elite kids from ivy league schools, so that's probably why.

Well, not always, as I have had people working for me that were from all sorts of second-tier schools. I'd say landing an institutional job is part luck (high-end education included), part social skills (being a pretty girl helps too) and part drive. You might get away with two of the three if you got them in excess.

If you are trying to pitch yourself to funds, what is your desired position and what do you think you bring to the table?

 

[Robert Morse]

Thanks for your thoughts. Right, IV isn't directional, I explained that incorrectly - I guess I meant that I target stocks that the market is underestimating the future volatility due to fundamental reasons.

I'm not judging you. Whatever gives you an edge. I don't have to understand it.

 

[Spectre2007]

This is an interesting insight, thank you. So over time you've developed the ability to recognize certain patterns? And mathematically you assign different outcomes with probabilities, or is it more advanced than that?

Your subconscious tells you when your in a bad trade, ideally most trades that are profitable from the start, newbies tend to take profits quickly. You need take small losses and let winners ride. If you don't let winners ride, markets will beat you down mathematically.

 

[SimpleMeLike]

Your subconscious tells you when your in a bad trade, ideally most trades that are profitable from the start, newbies tend to take profits quickly. You need take small losses and let winners ride. If you don't let winners ride, markets will beat you down mathematically.

This is comment Spectre2007 and I learning this now.

When you get a winner, know how to manage it and be patience, cause you make more money this way and build confidence.

 

[bone]

Become very adept at statistical modeling and machine learning. Learn to use packages like S plus and MatLab. Maybe get a job as an analyst and grow into it from there ?