Can a Graduate Degree from Oxford U help me get a salaried position in trading?

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Quote from FreedomPhighter:



I have been told by a friend of mine who holds a PhD in Electrical Engineering from MIT that Oxford on my resume is as good as gold. I am not expecting my Oxford experience to land me a job but rather to land me many many interviews for trading positions.
Thanks
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What you have to realize is that trading is typical of most high-end sales types of positions, where there is minimal correlation between academic background/aptitude and trading skill. Although solid mathematical/CS credential will get you into quant programs, you'd be employed more for your programming ability than actual stock picking. The reason why is because theory/systems are less important than common sense/experience. The market does not care who you are, only what you can do.

That being said, paid trading positions are out there, though mostly at prop. firms like FNYS (firstnysecurities.com). Hedge funds/IB prop. trading desks without most exception do not hire newbies to trade the firm's accounts. They cannot take the chance on an employee, no matter how impressive their academic creds. are, to "learn on the job." The risk management guys would go bonkers. Though becoming a trading assistant would be a venue to get in the door. But, if you insist on being a trader out of the box, unless you are the nephew of the principal, then you might have to reconsider your career prospects.
 
Quote from vanilla2:

IMHO this is indeed a professional communication venue (with a few uber-negative wannabes with issues tossed in)

Your level of research regarding this board, and trading in general is inconsistent with Oxford caliber work. This board is teaming with hugely successful professional traders.. most of them lurk more than post.

Trading culture in general is rife with horseplay, much of it personal. Thick skin is crucial. As negative as this board may sound, all you're seeing is brutal honesty, in most cases from people who can take what they can dish and do it all the time.

I used to work with a few thousand professional traders, and they would beat each other's egos to a pulp all the time. It was fun.

You should read "Liars Poker". I think those guys went to Oxford. Further, it sounds like your best bet is a graduate program at a bulge bracket bank. With your credentials, you're probably a shoe-in if you knock on enough doors. Your attitude blows though.

Trading requires honesty with self.

By the way, what's with your tag if you've never made a trade?
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It seems that you yourself do not live up to the standards you expect me to live up to. If you would have carefully read my post you would know that I worked with a pro firm and actually did make trades. I highly doubt that you have sufficient experience and talent to judge, as you call it, "Oxford Caliber Work" (unless of course you yourself have attended the school.....if that is the case then I apologize for the assumption). I don't expect to be like the average trader who spends the majority of his life in bucket shops up 1000 one day down 3000 the next (oh, my account is negative so I had better go work at McDonalds for a few months, save my money so I can once again feed the market). Trading requires discipline and I believe that I will acquire sufficient discipline as I work on my MsC dissertation. I have no experience in trading and admit that my account was negative in my first four months of trading yet, surprisingly, my manager still held that I was the most talented trader he had ever hired.

Can I ask you something? Do you disagree with my tag? If so, I can't imagine you staying in the market for very long

Thanks for the reply
 
Quote from garfangle:



What you have to realize is that trading is typical of most high-end sales types of positions, where there is minimal correlation between academic background/aptitude and trading skill. Although solid mathematical/CS credential will get you into quant programs, you'd be employed more for your programming ability than actual stock picking. The reason why is because theory/systems are less important than common sense/experience. The market does not care who you are, only what you can do.

That being said, paid trading positions are out there, though mostly at prop. firms like FNYS (firstnysecurities.com). Hedge funds/IB prop. trading desks without most exception do not hire newbies to trade the firm's accounts. They cannot take the chance on an employee, no matter how impressive their academic creds. are, to "learn on the job." The risk management guys would go bonkers. Though becoming a trading assistant would be a venue to get in the door. But, if you insist on being a trader out of the box, unless you are the nephew of the principal, then you might have to reconsider your career prospects.
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Thank you Thank you Thank you. Finally a response which is informative. So maybe what I'll do is start at a pro firm with salary and eventually move on to a hedge fund. You know where i can get a list of pro firms that pay salary?

Thanks again
 
Quote from Nordic:



Listen up Winthorpe, You should immediately contact Mortimer Duke of Duke and Duke Trading Inc. located at 50 Broad Street. I here they are always looking for intelligent Oxford type individuals like you spanking off on the Internet all day.
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Didn't that firm go out of business? I heard the firm went down on a single trade (oranges anyone?).

LOL
 
"I don't expect to be like the average trader who spends the majority of his life in bucket shops up 1000 one day down 3000 the next (oh, my account is negative so I had better go work at McDonalds for a few months, save my money so I can once again feed the market). "

" admit that my account was negative in my first four months of trading yet,"

not sure I see the difference...
 
Quote from swtrader:

"I don't expect to be like the average trader who spends the majority of his life in bucket shops up 1000 one day down 3000 the next (oh, my account is negative so I had better go work at McDonalds for a few months, save my money so I can once again feed the market). "

" admit that my account was negative in my first four months of trading yet,"

not sure I see the difference...
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The difference is that I DID NOT contribute any of my own capital to the LLC so the only out of pocket expenses incurred were related to the cost of living. There is a BIG difference...
 
Quote from FreedomPhighter:



The difference is that I DID NOT contribute any of my own capital to the LLC so the only out of pocket expenses incurred were related to the cost of living. There is a BIG difference...
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weeeell, that IS a big difference - make sure you mention that in an interview.

"I'm not like those shmucks who grind down their account, I lose OTHER people's money - and I'd like to start losing yours today!"
 
Quote from swtrader:




weeeell, that IS a big difference - make sure you mention that in an interview.

"I'm not like those shmucks who grind down their account, I lose OTHER people's money - and I'd like to start losing yours today!"
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Let me correct you: I lose other people's money and my manager states that I am the most talented trader he had ever hired.....

You are a fool if you believe that there is no learning curve when one delves into trading. I interviewed with a futures trading firm in London and I told them just that: I lost money for my firm but was considered one of the most talented traders every hired by my manager. Guess what? My interviewer told me that nearly ALL traders lose money in their first year. I got the position, nonetheless, with $55,000 salary + relocation costs, and was supposed to start sometime in march. About a week before my start date I got a letter from Oxford congratulating me on my acceptance. I had to turn down the position for more idealistic pursuits (the pursuit of truth) but was told that I could apply again upon graduation since the company is regularly hiring.

So you might ask: why are you worried about obtaining a salaried position in trading when you were offered a position without Oxford on your resume? Because, to be honest, that was the only offer I got after three or four months of job searching. I am hoping that Oxford will help to provide me with more employment options (rather than having me just settling for whatever comes my way, as has been the case thus far).

Thanks.
 
sorry i skimmed your post. you sounded like someone who's never made a trade. anyway, best of luck to you and your flaming ego.
 
"I lost money for my firm but was considered one of the most talented traders every hired by my manager. "

" I had to turn down the position for more idealistic pursuits (the pursuit of truth) "

no comment...
 
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