Finance Master wanting to get into pro trading

swetrader · Apr 15, 2009

Many very helpful answers, thank you.

Somebody asked for my qualifications.

I have a bachelor and master, both in (corporate) finance, if I study one more semester I'll have a bachelor in statistics too. Tier 2 university (there's only one Tier 1 in sweden) and average grades. I have experience in sales (different stuff) and some in smaller scale investment cosulting (property mainly).

I don't really want to continue studying and since the banking (and other financial areas) business looks like it does at the moment I've been thinking a trading. Also my dad is a moderately but still successful trader since 15 yrs. He only trades with his own money though.

What I really want to know is how to get a corporate trading job (ie. not trading out of my living room) that is not a quant job (since I'm no Phd or engineer).

heech · Apr 15, 2009

Quote from TraderZones:

the large financial institutions are letting people go left and right. Look at UBS - their 3rd major layoff??? The old rules of getting in are out the window.

I don't know if the old rules are out the window, unless you really meant to say that it's the folks with great credentials + grades who're getting laid off *first*.

I personally find that hard to believe. In this environment, in *any* environment really, academic success does mean something.

I mean, why shouldn't it? If you're in school, you have one single task: do well in your classes. True, classwork might not mirror the real world very closely... but if you can't do your "school" job well, why would I as an employer assume you'll do your "real" job well?

crgarcia · Apr 15, 2009

Quote from swetrader:

Where do i look? Is there a 'normal' way of betting into the business? Is it all grades like in ibanking or are there other ways to get into the trade?

Links and tips appreciated.

There are NO Professional traders.

ALL, and I mean ALL traders lose money in the long run.
Those who appear to profit, are just ponziying.

Now it's a good time to become an INVESTOR, since many stocks are cheap (altough not dirt cheap, so be careful), finally, after more than 10 years of overvalued folly.

R. Raskolnikov · Apr 15, 2009

Wow, you really DO know nothing! LoL

Quote from crgarcia:

There are NO Professional traders.

ALL, and I mean ALL traders lose money in the long run.
Those who appear to profit, are just ponziying.

syswizard · Apr 15, 2009

Wow, you really DO know nothing! LoL

Quote from crgarcia:

There are NO Professional traders.

ALL, and I mean ALL traders lose money in the long run.
Those who appear to profit, are just ponziying.

Yeah, that was stupid...tell that to Eric Bolling or Bob Pardo. Traders par-excellent.

The above "ALL" should have been "MANY".

Surdo · Apr 15, 2009

Just put this schmuck, crgarcia on ignore!

Bolimomo · Apr 16, 2009

Quote from crgarcia:

There are NO Professional traders.

ALL, and I mean ALL traders lose money in the long run.
Those who appear to profit, are just ponziying.

There goes all my respect for you with that statement.

"Since I can't do it, I concluded that nobody else can..." kind of shit.

asiaprop · Apr 16, 2009

thats simply not true, I work in the industry. Name me more than 2 of the top 10 banks that dont hire any new grads this year or who did not last year then I will prove you that you are wrong.

Quote from TraderZones:

Pretty much every IB is NOT hiring new grads. They are spitting out, and expecting to spit out a lot more, thousands of workers.

asiaprop · Apr 16, 2009

I need to correct you. Of course banks will not trumpet in public they are hiring new grads while they fire their own employees. Nor do they tell some xyz guy from xyz school they are looking to hire. They target a few schools (as always) and already made most of their new grad hiring decision for 2009.

Quote from MandelbrotSet:

+1

That's a fact, they can't downsize quickly enough and are constantly reassing their needs downwards ... now, we all know this is going to lead to a huge demand for workers at some point in the future ... but that's probably more like two years out, and certainly is not right now (UBS is still downsizing ... :eek: )

Euler · Apr 16, 2009

Quote from Bolimomo:

There goes all my respect for you with that statement.

crgarcia is one of the most prolific ET trolls of all time -- you must have set a record for tolerance to have just lost your respect for crgarcia only on his/her 2532n'd, trolling post.