Law student trying to get into Automated Trading
- Thread starter jonnathann
- Start date
Thanks for that. In your opinion, would you go so far as to say that C++ may be all that's required. I'm just trying to figure out whether there is a need to learn multiple languages.
Cheers
All I can say is that where I'm from (not US), there are definitely more lawyers-turned-bankers/traders than the other way around. That may be a result of the fact that there are certain academic requirements/tests to satisfy before becoming qualified as a lawyer. IMO law is just not as interesting, though it may be quite intellectually stimulating. Lawyers here, btw, don't make as much as those in the US.
Thanks for the insight. Would you be able to point me to some courses (even generic names would suffice) in the MFE degrees that may be useful?
Also, have you pursued the MFE yourself? If so, would you imagine that a person with a background like mind would find it rather difficult to even be considered?
Also, have you pursued the MFE yourself? If so, would you imagine that a person with a background like mind would find it rather difficult to even be considered?
thanks for answering me twice
But the average trader is probably someone who drops $15K-$50K and a lot of hours of sweat before realizing that it is hopeless for him/her.
It makes a lot more sense for you to continue pursuing your law career, and trade on the side. If you are out for 3-5 years before you realize how few make a real living at trading, you may find that your law background has no value for potential career. Degrees without experience get old fast. Then you may wind up flipping hamburgers and serving fries to restaurant customers
Lucrative trading is not a "when" and it is not even "if". It is more of a "if by some amazing chance, you actually trip over something that works, for a long time, and you have enough money and patience and discipline you don't screw it up with your money or risk management, then MAYBE..."
Just don't want to get starry eyes ideas that somehow there is likely success if you work hard enough, dude
I'd have to agree. If you haven't been involved with the markets your entire life and just looking to make a "transition" so to speak I would definitely stick to your first endeavor.
There is so much god damn competition and this isn't the most ideal economic environment as to getting institutional funding etc.
I might just be speaking for myself, but if you are looking for opinions..
I think both yourself and Joe are under the impression that I had to take law school for post-grad studies, such that pursuing trading is like forgoing a huge opportunity cost. Here, we don't need to.
I've traded for 2-3 years already. I'm working in a US BB bank next year in trading. Yes, I haven't been involved with the markets for my 'entire life', but I am only 22.
Joe: ahaha yes I apologise - I didn't see my initial response pop up on the thread.
I see.
I don't want to sound like a "bitch" here, so don't take it that way.
Do you think you could compete with me or anyone else that has greater than xx% knowledge than you do in the marketplace?
Do you think being competent at cpu programming will get you anywhere? The only place that gets you is you doing all the grunt work for 100k a year while someone else banks half that amount everyday on the "scrub" work you are doing.
That is IF you ever become proficient enough at programming which I am really doubting. That is unless you devote 18 hours a day for the next 10 years of your life.
I probably devote 90% (not a joke) of my entire day on formula creation and the rest to try to get better at JAVA. Are you willing to devote this much time? If you are then you are wasting your time on here. Get to work. If you are not, then most likely you could find some cushy job in the USA working for some firm doing research for a law office. Nothing great, but IMO you have it in your head things come "easily" in the marketplace. I wish someone would have kicked me in the nuts a few years ago so I wouldn't have to sell parts out of my car to fund my endeavor.
Every once in a while I get a call from a headhunter so they can tell me they are only looking for people with 50mm AUM and up in regards to looking for a new quant manager. Those are great conversations. Only like 11 parts left to sell in the Hyundai as well. I gotta get to work.
GL man, you will need it.
JAVA is a dying language and C++ is in the process of being phased out at most sell-side ibanks. Most desks develop libraries and code nowadays in C#/.Net. Additionally, you may want to know about Matlab, R, KDB, ...
I know I will take the heat for above comments from some of those who proclaim they are C++ or JAVA experts. I dont want to get into a discussion of ups or down between languages, I speak from a trader's perspective, someone, who utilizes the skills of programmers and IT teams. I do not see a single advantage for you to start learning C++ over C#, given you currently do not possess much skills on the programming side.
Some pointed it out and I like to repeat: Programming is only a very small component. The large part that is required to get the job done is a deep understanding of the micro-structure of markets and the ability to think outside of the box, to completely distance yourself from all the TA-BS that is out there and come up with new ideas to test and implement.
I know I will take the heat for above comments from some of those who proclaim they are C++ or JAVA experts. I dont want to get into a discussion of ups or down between languages, I speak from a trader's perspective, someone, who utilizes the skills of programmers and IT teams. I do not see a single advantage for you to start learning C++ over C#, given you currently do not possess much skills on the programming side.
Some pointed it out and I like to repeat: Programming is only a very small component. The large part that is required to get the job done is a deep understanding of the micro-structure of markets and the ability to think outside of the box, to completely distance yourself from all the TA-BS that is out there and come up with new ideas to test and implement.
Thanks for your honest opinion.
At the age of 22, were you as proficient in programming or knowledgeable of the market that you are today? I assume not. Don't think hours are an issue - interned in IBD before and it wasn't too bad.
Off to work.