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

[FreedomPhighter]

Quote from rolegario:



An IQ score of 145 already qualifies you for Mensa...

I think you need a 150 or so these days.

 

[FreedomPhighter]

Quote from okwon:

Dude just go to Oxford already! It looks like you already decided anyhow so what's the point of posting it here? What if you got responses to your question that said your Oxford diploma will not help you at all with getting a trading job? You would still go to Oxford at this point anyways, right? Just stick with your decision and go. It can't hurt.

I will most likely be going to Oxford. My question was whether my resume would be more favorably looked upon with Oxford on it (i.e. will i get more interviews for salaried trading positions even though my emphasis was pure mathematics).

Thanks for the advice.

 

[FreedomPhighter]

Quote from trend456:

This is the best thread on ET! Grads from Ivy's are always funny. They make a fool out of themselves all the time.

LOL!!!!

Good Luck

trend

correction: "...they make fools out of themselves..."

who's the fool now?

or should i say: whose the fool now?

LOL

 

[FreedomPhighter]

Quote from trader99:




Freedom,

Well, congrats on your acceptance to Oxford. Oxford has a good math program. Perhaps, I can speak a little bit about your situation. I went to a top Ivy League school here in the US. I have worked on both sell-side and buy side institutions during portfolio management, trading, and quant research.

And let me tell you this SURPRISE. When I tried my hands at prop trading(almost 1.5yrs now), I thought all of this stuff that I learned in school, the complex modelling skills I've gained during my previous quant trading jobs,etc. would somehow help me in prop trading.

The truth is NONE of actually helped! At least not directly. Perhaps indirectly. I had to go through all the ups& downs and psychological turmoil of trading. Now, I admit I'm beyond my previous newbie skills. And perhaps my education did play a small role in helping me recognize or discovered certain "edge"(positive expected value strategy). But it's the psychology that helped me applied it correctly and maximize the edge. And no one can teach you psychology.

Education is good if you need to go to established institution that looks favorably on that. But if you want to trade for yourself then none of it really matters. Because markets are collective crowd behaviour and the crowd is usually irrational and erratic and crazy at times. hehe.

Psychology, emotional make-up/intelligence , and perseverance probably counts more and help you in the long run in terms of trading success.

However, education can be a good foundation if you want to become a pure systems trader or worked for a quant trading desk/hedge fund. Most of what Wall St does is NOT "trading" per se. It's market making. The public is confused. The pure traders who do well are very rare and difficult skill to obtain and can not be found in anywhere except through deep introspection.

So, again congrats on your further education. But the market isn't so simple. But the thing is most established places will pay you while you learn. So, that's a good stress reliever while you are a beginner. So, go for that.

good luck.

trader99

Thanks again.

 

[FreedomPhighter]

Quote from rolegario:



Sounds like you suffered a number of buttkickings in grade school. I'd expect you'll get the same treatment from the blokes at Oxford.

Great thread. Definitely one for the archives.

Truthfully, I've had a few beatings but am proud of almost every one of them cause I believe they served to make me a stronger person. Let me say this: I was usually not the offenser.

I look forward to the Oxford experience, however the so called blokes will treat me (i don't expect to fit in, but I will succeed there....of that, there is little doubt in my mind...i don't believe a mack truck could hinder my determination)

Thanks.

 

[FreedomPhighter]

Quote from JT47319:

You basically had two part questions.

1) Would going to Oxford help you get a salaried position in trading?
Answer: No. It may look nice on the resume, but like I stated before, both the degree and institution have very little to do with trading. You assume that "getting discipline" will help you as a trader. That is true, but trust me, college imposed discipline versus the ice cold water needed to run through your veins when the market goes limit down/up against your position is vastly different. Greed and fear are what kills trader. Plop +$1000 in your account and play the market. Forget commission costs and hammer away with 100 shares (or an e-mini futures contract) and see if you can actually build a Reward-to-Risk Ratio greater than 2. Now, you may actually be able to make contacts at college with people who might point you to the right firm and introduce you to the right people, but that's different.

2) What firms offer salaried positions as a trader?
Answer: There are some, but not many. And most require experience of some sort. Actual firm names, I believe, has been addressed by others including Don Bright.

College will not prepare you to trade. Going to Oxford will not prepare you to trade. Getting a degree will not prepare you to trade.

ONLY TRADING WILL PREPARE YOU TO TRADE. You already had a start on this with your four month stint. Only with winning and losing, wrestling with your inner demons, grappling with fear as a position goes against you or greed when it goes with you, THAT will prepare you. Not college, not Oxford, not studying mathematics or economics.

Only by following the market daily will you be prepared. Keep a theoretical/paper account if you do not have the money to trade. A hiring manager might even look at it, though it won't matter much in all likelyhood as to his decision.

Thanks. I have held from the outset that I want Oxford to help me get a foot in the door and that my pure math track isn't likely to give me any insight to the trading game.

 

[FreedomPhighter]

Quote from max401:

Actually, since he is full of crap, his better qualification would be that of manager at some prop offices I know. But first he should read this, to hell with Oxford!

Would you stake your trading career on me being completely full of crap? Say it now: if FreedomPhighter is telling the truth and actually was admitted to Oxford then I will never again have a winning trade......

Go ahead, post it on here. Call me superstitious but I believe there is a higher force that is willing to oblige your vow....

think about it....

Respectfully,

 

[FreedomPhighter]

Quote from sle:

Which reminds me - I am planning to write a book "Complicated Things for Dummies". This book would cover all advanced topics out there and will prevent further appearance of "For Dummies" books

That got a laugh out of me.

Thanks

 

[FreedomPhighter]

Quote from vanilla2:

i don't envy you dude, a graduate program in math at oxford is a hell of a long string of all-nighters, hard work, huge exams and vicious competition, especially for something that isn't directly focused on what you want to do with your life. granted, the brand name will go far in the corporate world, but if you're that intelligent and confident in your abilities, why would you want to pay 100k for an education you can achieve on your own, only to work for someone else and give them the majority of the fruits of your labor and talent, wearing a corporate clown suit to boot? prestige is the only answer that makes sense to me. if you're in it to seek "truth", personally i think that's something you can only discover on your own.

If you don't like asskissing, you will fucking loathe the corporate finance world.

i always wondered why 90% of the traders i worked with were under 35, and now i know why. working for someone else in this industry is not worth it if you're that good. granted, training and learning on someone else's capital are useful, but is it worth 100K for a largely irrelevant education to end up trading someone else's capital?

I guess my reasons for wanting to attend Oxford are of a more personal nature since I am not from a wealthy family and someone of my social class doesn't often find the opportunity to study with the Queen's children (grand children?). I will only be spending a year at Oxford so its actually cheaper than the US equivalent degree; thus if I plan on going to grad school at all, then Oxford would be the best value. I've never been out of country either and look forward to English life. Finally, Oxford has been around for nearly 1000 years. This has particular significance to me also... Thanks

 

[FreedomPhighter]

Quote from swtrader:



"trolling" basicly refers to a poster who makes posts just to cause trouble, and does not stick to the spirit of the forum

"flamebait" are posts (something the author himself may consider stupid) designed to encourage an angry response

he then makes a sucker out of people who take them seriously

I suspect the author of this forum is posting flamebait

you are wrong about that buddy....